Making Sense of Online Marketing -- Its All About SOI and ROI!!

By
Services for Real Estate Pros with Real Estate Pipeline, Inc.

Let's face facts - Online marketing can be a very effective tool to help increase your sales pipeline.  However, a good number of sales professionals (agents included) do not take advantage of online or viral marketing as a way of helping increase their potential sales.  Social networking is a quick and simple way to help with this.  Yet, many do not participate in this form of ‘advertising'.  The question is....why?  Or...more appropriately...why not?

There are a couple of similar reasons that keep showing up from everyone that I mention this concept to...and these myths appear to keep them from moving forward putting them further and further behind their competition that are taking advantage of this marketing gem.  Here are the top 3 reasons I keep hearing:

"I can't sit at my computer all day long chit-chatting with people."

Guess what...You're right!  Unfortunately, this isn't what is required for effective social and viral marketing.  Believe it or not, this is about setting up relationships on a personal level rather than a sales level. 

Social networking, or rather SUCCESSFUL social marketing, in any online community will result in expanding your SOI (sphere of influence) even when you are not online.  Take the time to build dynamic profiles on social networking sites like Facebook, Myspace, LinkedIn, and many others.  These profiles will allow consumers to find your information even while you are not online. 

Think of it like a virtual message pad.  Visitors can show up...view your information...and even leave you messages or forward your profile to their friends further increasing your SOI.  Spending around an hour each week updating information on your profile (like listings) and responding to messages and you will see your SOI grow exponentially.

"I don't know how." (Or, any other version of the same statement.)

Well, to be honest...this is probably a really good thing.  Starting off in the online marketing world with your own blog is a lot like jumping into a Nascar without having driven before.  It will end up in a crash.  Real estate related social networking sites like ActiveRain, Trulia, and others will teach you how to connect with people around the globe and provide you with direction on how to share your experiences and knowledge in a manner that will help attract clients.  Keep up with this trend, then start your own blog and use these existing portals to drive traffic to your blog in time.

In the meantime, spend some time to locate other blogging sites involved with things you enjoy...and READ!  Reading results in the application of knowledge...and knowledge is power.  The more you read other blogs, the better you will get at your own.

"I already advertise."

Great!  You should...However, with dwindling circulation and nearly everyone that is younger than you looking for information online, newspaper advertising is no longer a wise use of marketing dollars.  It is expensive, ineffective, and difficult to track whether or not you are getting a return on your investment (ROI). 

Let's face it...for the price, you can't beat social networks!  They are FREE!  And, you can always track who comes from what site...and if you get a closing from any of it, you made money from it! 

In short, online marketing isn't easy.  But, it can be when done correctly.  Don't just jump in with both feet blindly.  Take your time and ease yourself into it properly.  If you do that...you will succeed in building trust with new clients and other agents around the country.  All of which will make you money in the long run!

 

If you would like information on how to get more internet buyers sent directly to you from www.recr.com, please contact Clint Miller at 800-977-7058 or 406-329-7652.  Or, contact Clint on Twitter at www.twitter.com/recr.

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Rainmaker
211,082
Renae Bolton
Marketing 4 Realtors - Garfield Heights, OH
I'm your Professional Real Estate Marketing VA!

Clint - You've hit the nail on the head with this one.  I've been touting the social networking horn for a few months now, seemingly to no avail.  I get the same excuses - not enough time, don't know how, etc.  I used to feel the same way - until I actually got involved.  I started seriously networking online around March and have since picked up 3 clients from that alone.  And I can directly attribute it to a specific social networking site.

It certainly is worth it.  And, as my mother always said, "Nothing is worth doing if it's easy."

~Renae

Aug 18, 2008 08:38 AM #2
Rainmaker
189,866
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Renae -- Thank you very much!  Its good to know that someone out there in cyberland is applying these principles and having success.  Im glad to hear that it is working for you!  Thats awesome! 

Thank you for taking the time to comment...Now, if I could get the others to do so...lol

Aug 18, 2008 10:51 AM #3
Rainer
13,737
Clint & Mindy Cronic
Next Generation Real Estate Services - Redding, CA

I completely agree.  We are in a world right now where being online is where it is and the way I look at it is if you are online everywhere and you go on vacation for 2 weeks...that is 2 weeks where you still are being marketed without even having to be there just because you have a strong online presence.

Aug 18, 2008 11:03 AM #4
Rainmaker
189,866
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Clint and Mindy -- That is sooo correct.  That is the one big thing that people can take away from this...and Im glad you recognize it as well.  Thanks for taking the time to comment.  I appreciate it greatly!

Aug 18, 2008 01:56 PM #5
Ambassador
2,389,239
Robert Vegas Bob Swetz
Las Vegas, NV

Clint - Super post and how right you are, I agree with all of it. Thanks and welcome to the group. I didn't know you were a addict?

Aug 18, 2008 03:35 PM #6
Rainer
149,814
Freddy A. Saavedra
Essential Properties - Goodyear, AZ

You are absolutely right, the people who avoid success by avoiding new ideas and new ways to market oneself will always be the ones complaining of how bad the market is.

Aug 18, 2008 04:07 PM #7
Rainmaker
189,866
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Robert -- Thank you!!  And thanks for the welcome to the group.  Yeah...Ive been invited to the group by someone...and figured...Alright.  Im an addict...Time to admit it.  :-)

Freddy -- Thank you as well.  And you are correct!!  You can either improvise, adapt, and overcome...or you can stay the same and attempt to float.  Me...Id rather change with the market than complain about it.

Aug 19, 2008 12:21 AM #8
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Rainmaker
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