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What's Your Blogging ROI?

This past week, I had the priviledge of teaching two Continuing Education Classes, Blogging Basics for Real Estate Professionals (K1061) and Blogging Ethics for Real Estate Professionals (K1061). In addition, yesterday Gwyn Besner with the Acme Institute joined us here in Grand Rapids, MI at the Grand Rapids Association of Realtors headquarters to teach a very enlightening Code of Ethics Class.

It was fun! At one point, I remarked..."should we be enjoying a continuing education class this much?" It was also a wonderful opportunity to meet a fellow Active Rain blogger whose blogs I have enjoyed reading, Kris Whales.

When Kris called about a week ago to inquire about the second class on the 28th, I was surprised and thrilled. She indicated that she had wanted to attend the sessions last year but was unable to do so.

It was great to meet her face to face... There's a magic about blogging connections which transforms strangers into friends. Meeting Kris was effortless and joyful. If blogging creates even 25% of this type of goodwill with potential clients, it's MORE than worth it.

Which brings me to an interesting article I read in the online version of the latest Realtor magazine through a link from Monika McGillicuddy's recent post, which features Active Rain's founder and visionary, Johathan Washburn on the cover. In an article directed to brokers, Robert Freedman explores an important issue, 'Getting a Handle on Blogging ROI.' (Return On Investment)

It's a well written article which can assist not just brokers but agents to determine the profit potential of blogging from a cost perspective in terms of time and energy AND also risk from a legal liability standpoint.

Freedman writes:

"You can't calculate your ROI in the same manner as you would for a new product. Blogging's benefits aren't as easily measurable or quantifiable as are product sales. But you can still get an approximation, a report by Forrester Research contends."

He then goes on to give some useful formulas for determining a quantifiable ROI.

In the Blogging Ethics for Real Estate Professionals course,(K1062) we discuss the implications of risk management and the importance of agent training as a means of reducing risk in agent online activities in addition to other topics.

I'm glad to see the National Association of Realtors ® taking a proactive stance in engaging a much needed discussion of these topics. I'm also thankful that the State of Michigan is providing an opportunity for agents and brokers to learn about blogging and the implications of Web 2.0 and Social Networking for the real estate industry.

To date, I have found that my blogging ROI has been exponentially way beyond what I could have imagined! I've met all sorts of wonderful individuals, there have been numerous leads and resultant transactions. I have the opportunity to share what I've learned with my peers. And most of all...it's been a joyfully intriguing experience! There's no $$$ Value you can place on that!

RELATED POST:

Kris Wales shares her experience in attending the Blogging Continuing Education Course in this blog post entitled: "The BEST Con-Ed Class I Ever Attended and it was a 304 Mile Round Trip"

Audu Real Estate Sponsor ID Code: K355

Lola Audu, CRS, GRI e-Pro ~ Audu Real Estate

Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. We've had the privilege of helping hundreds of clients succeed in their goals of purchasing and selling property including demonstrated success in the negotiation of Short Sale Transactions. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511.

Posted by Lola Audu~Real Estate Broker/Owner Grand Rapids, Michigan Real Estate on 05/30/2008 02:07 PM

Comments (44)

blogging, kris wales, gwyn besner, lola audu, real estate continuing education, grand rapids, michigan, audu real estate

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44 Comments on What's Your Blogging ROI?

MAY

2008

It is good to see these things going on. Blogging is an excellent way for us to demonstrate our professionalism and knowledge.

Absolutely Dana. It's also a marvelous way to connect with people.

Lola: I have been talking to my co-workers about how bloggins is working to help expand my business. It's nothing I could have anticipated.

Lola, so sorry I missed your class, I know it rocked, I read Kris's post today. Next time, I'd still love to get together and talk about it in the future. Right now I am so busy in the business, not much time to work on the business.

MAY

2008

Lola, Thanks for the great post. I will read the online article you mentioned.

The eastern side of our lovely state would be blessed to have you and Gwyn come and teach and interact. I was talking with an agent yesterday and raved about the classes and you both and he said "I've never seen anyone animated before after con-ed!" I also dropped an email to the gal at KW that I was telling you about and said "You need to get her there!".

There's a magic about blogging connections which transfroms strangers into friends. Ditto my dear. It's magic and heart felt.

Lola,

I truly enjoy your posts. You add value here to AR. Thank you!

Carson Coots just posted a great article on Social Networking ROI on Agent Genius.

Lola bloging is playing more and more of a role in this Industry. It is one of those things that you either get on board, or wave to everyone else as they pass you by :) :)

Lola - Good stuff my friend. Keep up the great work!

I went from hearing about blogging to really enjoying it in a very short time.

Great information!

Thanks!

Lola,

I agree...I never thought anything that's as much fun as blogging could be so financially rewarding!!! Thanks, Fran

Well, it hasn't cost anything and I'm still in business, I guess it's pretty good.

I think that this market makes it tough - Just had my first closing due to AR yesterday.....

Lola

Your class sounds like it was very successful and very timely! It is nice to see that NAR is also starting to see the benefits of web 2.0!

Thanks for the mention and link love Lola!

Hi Lola, I'm so glad I have been blogging the little time that I have. It has brought new friends and clients. Your class would have been great. Wish I could have attended.

Lola- Wow, sounds like a wonderful class, and my first thought was why can't you be excited about Continuing Ed? Just reading the way you write with enthusiasm makes me feel excited :)

Anyway, good job.......now maybe you can get over to Kris' area .......

Chris, I certainly echo the sentiment.

Missy, Thank God you're busy! That's the most important result of a good business plan which in your case includes a great local blog. Make hay while the sun is shining...you can always catch a class later on. :)

Gita, Thanks for stopping by to read...enjoy the links!

I also teach blogging and by the time I am done I have a fired up room and often go look at the area I spoke and see many new bloggers.

Kris...Thank you so much. I'll try to connect with the lady you mentioned this week. I appreciate the introduction.

Yvette, Thanks for your comment.

Rich, appreciate the link. A lot of good information on agent genius and the other links throughout the article. It's a topic I think we'll be exploring more of on the blogosphere.

George...LOL, I hadn't thought about it that way...interesting mental picture.

George...Thanks for stopping by & for the word of encouragement.

Kevin...It does have a way of 'growing' on you doesn't it?

Ruthmarie, Yeah! Always good to hear about a successful result. Thanks for stopping by here to read and comment.

Fran...It's hard work, no mistake about that...but it's also fun. It's a great feeling to having fun working and to be able to see the impact and results.

Lenn...I shared your success story in class! You're not just in business, you're an example of how one can thrive by blogging well. Thanks for stopping here to read and comment.

Monika...Thanks for stopping by to read and comment. You are an instructor that I know I'd enjoy. It was really neat to be able to do the Combo class with Gwyn Besner who has been one of my instructors.

Lizette, Thanks for your comment. It's been wonderful watching you grow as a blogger. Keep up the good work.

Kathy, Thanks for stopping by. Continuing Education is such a vital aspect of our agent education. We're fortunate to have some excellent instructors in the Grand Rapids area.

Hi Dick, When people truly understand the benefits, it is exciting to begin. It's good that you're using your network of contacts to expand awareness of this powerful tool.

Lola, I would have loved to attended you're CE class on blogging. It would finally be a class that wouldn't bore me to death AND is something that is relevant to our business.

Blogging ROI would be very difficult for me to calculate. Most of my return has been in the sharing, learning and friendships. The money earned from "blogging business" has been great but the intangibles will still be around long after the money is gone.

Bryant, We all had fun & the class interraction was wonderful. There were individuals who attended the first class who came BACK to repeat the second class. I was very thankful for the experience.

I think the concept of ROI in relation to Blogs and other Web 2.0 is fascinating. It's interesting to see various approaches to creating forumlas. While it's true that there are a lot of intangibles, there is a real postive or negative ROI...it's just so illusive to pin it down. :) It's becoming more common for people to go to my blog before they call...I'm sure that you have the same experience.

I wish blogging classes were offered here in Ocean County, NJ. I kept putting off blogging, but now that I have gotten into it, I love it. It's addicting. I figure I'll just sit at the computer and read a few blogs and before I know it, a couple of hours have gone by. It is definitely nice to have a part of "work" that can be so much fun yet also rewarding.

"ROI" Thank you defining another useful acronym. Move over "SEO."

Sorry I missed your class I had a listing two buyer were fighting over and I felt the need to work out the details. Sounds like it was a success.

I would love to attend your class. Want to come to New Hampshire? I have seen so much benefit from Active Rain. I think it is an great experience and I have enjoyed every moment.

Great post Lola. I did not know that blogging would qualify for continuing education points. It makes sense.

MAY

2008

Lola, I would have loved to be in your class. Any chance of bringing your teaching to the East Coast?

Lola, I truly wish I could attend on of your classes. Regarding ROI, I guess we could simply count the number of clients and sales we have had coming directly from the Interent but I think that would leave out so much of what makes blogging meaningful. And, we know the leads grow as our blogs gain Google Juice so if I get two leads a week now, the ROI might be less than it will be in a year.

When you compare the cost of blogging compared to other marketing activites blogging is extremly inexpensive. What makes effective blogging difficult is the time and effort require to post valuable content on a regular basis. A effective blog engages its target audience and encourages frequent visits and interaction.

Social networking is a important part of of a blog success. Tools like twitter, stubleupon, delicious can make a significant difference in blog traffic.

Best Wishes!

Hi Lola,

You are clear and concise in your post.

You add value to all of us!

Wish I lived close enough to enjoy your classes.

Rosario...LOL, we don't normally think of ROI when it come to blogging, it's a term used more frequently in the financial world.

Terry, those who attended had a good time. We're looking forward to helping people to start good blogs and to do it well.

Joan...I might consider coming to New Hampshire! We've got family on the east coast. However, it wouldn't count for continuing education credit.

Wayne, the implications for business are enormous. Blogging can enhance SEO saving companies thousands of dollars in promotional expenses. It's an excellent marketing tool. In addition, it's a very effective way to educate our clients and must be done within the framework of ethical responsibility. These are just a few of the reasons why a class like this is great for Continuing Education.

Margaret...that's something I'd be open to exploring.

Diane, you make an important point. We have definitely seen the impact of time with our blogging efforts. It does take time to establish credibilty and readership. But it's no different than starting anything new...

Don, Thank You.

Michael...Thanks for your comment.

JUN

2008

Thanks for the post. It is nice to see how much blogging is valued by those that do. I am new to blogging and AR, but I do see the value.

JUN

2008

The class was great, Lola! I love your passion for teaching - you did a great job and it wasn't repetative.

As an attendee of the last seminar of Lola's I can only say one word!

AWESOME!!!!

JUN

2008

Lola,

As being one of the attendees of these classes, I too see such a value in blogging and you helped take out the overwhelming FEAR some of us have had in doing so. Not to mention the fact that you have grace to share it with others! Thank You again!

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