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#357417 - 11/11/10 06:53 PM Social Media Myths (From What I've Seen)
Solomon Offline
Member

Registered: 10/13/10
Posts: 20
Loc: Los Angeles, CA
Hey all,
It's been a blast being a part of the community and reading the tips and advise that you guys have to offer.

I have clients come into my office with questions about the effectiveness of social media which has invoked this rant. For the record, these are just -my- professional opinions, but
I am sure that there are many people who would disagree (so no need for flame lol). I have stayed away from definitive claims because I do not feel like this is the time or space for such.

Myth #1 - Social media is a MUST for any organization to grow.

Reality - That is not entirely true. The effectiveness of social media is based on various things such as demographic, reputation, industry, etc. It has been in my experience
that websites and Web 2.0 based services do much better with social media than geo-centric based services (such as restaurants, stores, etc).

Do not get me wrong... Social media is a VERY powerful tool for this generation. The key is understanding the demographic data of your market and how they can be reached. Your social networking page means nothing if you do not have an audience that really has an interest in what you offer. What does a page full of friends do for you if none of them even are interested in buying a house? Or none of them live in an area near your rental property?

Myth #2 - Having a strong social media presence means that I do not need a website.

Reality - A social media page (Facebook, Myspace, Twitter, LinkedIn) does not offer you the flexibility that you can get from having your own domain and website. For small companies, this may not be an issue-- but no one wants to stay small forever. As you grow, there may be things that you, your CTO, your IT Manager, or marketing team may want to accomplish that simply not be possible through a social media page.

For example, I have a client who wanted to integrate a mobile system into his business operations and tie it into the website. They had no website. The development team for creating an app to integrate into Facebook would have been unrealistic and the potential for Terms of Service changes made the application's longevity questionable. Not to mention... Why have Facebook be the middleman for an application you paid good money to have developed.

Consider your goals, needs, and market demand.

Myth #3 - Social media will change things and increase traffic over night.

Reality - Although there are many cases of websites and organizations that have had sharp increases in business-- the majority of organizations do not get those results. Social networking takes a lot of work, time, and patience. If you are Bank of America, you can get 10k+ friends over night-- but most medium and small companies do not have the luxury of a million dollar marketing campaign or a commercial. The key to any social media campaign's success lies in the amount of work YOU place into it. How well do you marketing your page? How many friends do you have? Are they talking about your services? Are there incentives to "friending" or "linking" your page?

The majority of people "like" pages or "friend" people and forgot all about them. Having 100,000 friends is meaningless if they are not going to be connected to the services you offer. Think outside the box. Be creative with your approach. Your goal is keep users talking about your product or service. When people think "I need a place to live" -- the goal is have your name immediately be thought of.

Myth #4 - Hiring someone to handle my social media campaign is the best.

Reality - I know people may hate me for this-- but I say: NO NO NO NO. There is an ever-growing trend of people who offer SMO services solely because they have 100K friends on Facebook. Many of them use the exponential growth model and feel that if they market someone's services to a large number of their friends, get 2-4% to convert-- those 2-4% of people will branch out and continue the cycle.

There are people who really try to do the job (planning, analysis, etc), but I say "learn these things yourself" or "hire someone internally" to perform such duties.

I often advise clients to hire consultants that will develop road maps, but keep the day-to-day operations in the hands of the client. This has saved clients A LOT OF MONEY and allowed clients the flexibility of changing as they see fit.

There is no one that is going to take of YOUR OPERATION like you. Social media marketing is an ONGOING effort-- so why not develop the skills within your organization necessary to do it yourself.

Myth #5 - I don't have time to handle my social media sites.

Reality - Yes and no. It all depends on the complexity of your campaigns. Integrating social media into your day-to-day business operations, flyers, signs, postcards, and other promotional materials can serve to make this job a lot easier. The common misconception is that social media should be treated as a separate entity-- when in fact, it is one in the same. Social networking sites should be used as an extension of your organization-- like a business card. In reality, think of it as an interactive business card. :)

If you really feel like your campaign is larger or more comprehensive than you could handle, then you can hire professionals to do the ground work (after all they need to be paid too).

Just my thoughts... I hope they help.



In the end, a lot of people look at social media as the new age version of "word of mouth." There are plenty of people who are making great profit with little-to-no social media presence. There are those who social media has done wonders for. Without a plan and strong services-- social media will do nothing. Twitter, Facebook, and social sites are not the answer to all one's questions-- but moreso, simply tools used to make help make this big world a little smaller.


Edited by Solomon (11/11/10 06:55 PM)
Edit Reason: BB code removal

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#357421 - 11/11/10 07:27 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7689
Loc: PA
Excellent post Solomon.

In my opinion, Social Media is one part of the puzzle. Just one. My husband is a successful carpenter - but his "advertising" is strictly word of mouth. That's it. He goes on Facebook but for him it's all personal, not business.

THat said - I think for anyone NEW, without a solid base of past customers/clients/referrals, social media IS a must.

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#357422 - 11/11/10 07:36 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Don Price (Pine) Offline
REO-BPO-R.E. Mod
Major Contributor

Registered: 03/12/08
Posts: 3332
Loc: Pinehurst, NC
You have a right to your opinion - but of course your opinion does not mean 'Reality'.

I don't know who your clients are - but if they came in with what you have listed as 'Myths', then they really do need your help, or at least the advice of their 10 year old.


Myth #1 - Social media is a MUST for any organization to grow.
Fact is that most of the largest corporations have added Twitter, Facebook and even YouTube to their arsenal and it has been proven that worked correctly it helps produce positive results

Myth #2 - Having a strong social media presence means that I do not need a website.
Can't vouch for that at all - I have certainly never heard that. But rather then talking about 'organizations', let us break this down to an individual level - which most of the audience are. Fact is that networks like 'activerain', twitter & Facebook, that charge nothing will get indexed and rank higher then most websites of their bosses. Fact, in a sense - activerain and Facebook could very well substitute for a website - and it is free! But again, it is not an 'either or' Social media 'integrated and coordinated into your business plan 'will' provide results. .

Myth #3 - Social media will change things and increase traffic over night.
Let me approach this one differently - there is no guarantee anything will happen overnight but there is more of a likelihood something will happen sooner then not doing social media at all, and that is fact

Myth #4 - Hiring someone to handle my social media campaign is the best.
I can't really comment on this 'Myth', it could very well be true for whomever said it. As a matter of fact - I would guess it would be a good idea to have someone near the age of the people matching the demographics you are targeting working your social media. I have checked the demographics, and they tell me the demographic of people using social media are my target group.


Myth #5 - I don't have time to handle my social media sites.
LOL - who am I to argue that. It does take time to work it, a great deal of time setting it up, and as media hosts change their products our use of it will need to change along with it.

We are basically brokers and agents here. We react quickly (or not so) to trends and make the best use of them while they last as we can.

This is 'Social Media for Realtors®'

Let's not get analysis paralysis - the purpose her is to help provide members with help and knowledge after they have decided to participate. Trust me - when most see what a PIA and nightmare it can be - my bet most will falter. That just means more for those who persevere smile

Later

_________________________
Don Price
Pinehurst, NC

Pinehurst NC Real Estate | Fayetteville Real Estate | Blog | Join active|rain

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#357599 - 11/13/10 02:12 AM Re: Social Media Myths (From What I've Seen) [Re: Don Price (Pine)]
Solomon Offline
Member

Registered: 10/13/10
Posts: 20
Loc: Los Angeles, CA
Hey guys!
It's all a mixed bag. Like I said, everyone always has their own opinions on what is right and wrong. I have had clients that have million dollar companies and some with start ups-- so I think I have seen the gambit.

I think the irony is that I have spoke to people who have been told these things from professional SMOs. I think that you make a good point...

In the end, my whole point is.. For those who have the time... Try to keep a couple bucks in your pocket and invest a little time and effort into your OWN social media campaigns-- rather than spending the money on getting someone else to do it. :) Hell, it's a recession. Often times people spend money on things that they could really be doing themselves.

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#403467 - 03/16/12 05:58 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
First Rentals Offline
Member

Registered: 12/21/11
Posts: 42
Loc: Bangalore
nice food for thought ...

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#407178 - 05/22/12 10:12 PM Re: Social Media Myths (From What I've Seen) [Re: First Rentals]
SoldWithVideo Offline
Member

Registered: 05/21/12
Posts: 39
Loc: California, USA
Well, even though this post was published two years ago I can agree with most of it. But, I think Myth 4 can be true. As long as you hire someone who follows what you have coached them it can be very possible. There are even companies who handle social media for other companies. I wouldn't automatically consider myth 4 a myth at this day an age.

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#414739 - 10/23/12 06:45 AM Re: Social Media Myths (From What I've Seen) [Re: SoldWithVideo]
breeanne Offline
Member

Registered: 10/03/12
Posts: 56
Loc: US
And when you outsource the service for someone else to do it for you;they will put in so much time to have all the social sites up to date. But i believe it grows over time and you can definitely see the results of social media marketing over time.

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#415268 - 11/02/12 06:45 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Rents2Riches-Pat Offline
Member

Registered: 05/04/12
Posts: 62
Loc: Oregon, USA
Just having a social media account alone will not help you. You have to spend real time a couple times a week and engage with your clients and potential clients. it is an opportunity to have fun, share relevant material that allows them to gain trust in you, and over time maybe do business with you. But you have to search for the right relationships and ALWAYS be posting, sharing and discussing as well as asking.
If you try to outsource your social media to India or Philippines, I'm sorry but it will get you nothing. You yourself need to make the time (or someone on YOUR team locally) to engage.
_________________________
Patrick Rogers owns and operates Asurent Property Management located in Medford Oregon and is also a nationwide Property Management Marketing Business Coach through Rents2Riches.

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#415314 - 11/03/12 07:27 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Malok Offline
Member

Registered: 08/18/07
Posts: 441
Loc: Kentucky - in a barn!
Most important part with social media is developing the relationships with your audience/customer base. Takes a lot of effort to make that happen generally speaking.

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#415317 - 11/03/12 07:28 PM Re: Social Media Myths (From What I've Seen) [Re: Malok]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
Originally Posted By: Malok
Most important part with social media is developing the relationships with your audience/customer base. Takes a lot of effort to make that happen generally speaking.


Absolutely right. And utilizing several different social media platforms requires all the more time and effort in order to do this effectively.

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#416027 - 11/25/12 02:09 AM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
Social media is used to compliment a website, it is absolutely not a replacement for a website. Granted, in real estate you can get a lot of business by building relationships with strangers on Twitter.

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#416210 - 11/28/12 04:44 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
BessWilson Offline
Junior Member

Registered: 11/08/12
Posts: 5
Loc: Missouri
I'd mostly agree with a few exceptions. From my own experience, I can vouch that, at least for me, it was not an overnight success story. It takes time and commitment, and won't lead to immediate sales. BUT, I will say, myth number 4 isn't always true. We've tried running our social media on our own, and we've hired different companies. The nice part of doing it yourself is that you can control everything. The nice part of hiring a company is that, if they are good, they can really look into what works and what doesn't. This takes a lot of time that I thought I had, but definitely didn't.

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#416782 - 12/11/12 02:14 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Musa Opondo Offline
Member

Registered: 09/24/12
Posts: 210
Loc: USA
Great advice, though i think all business can use social media to some extent.Maybe more successful with certain types of businesses than others but all can benefit.Besides i have never heard anyone advocate that social media can replace a business website.

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#417419 - 12/25/12 07:54 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
Tom Ashworth Offline
Member

Registered: 12/23/12
Posts: 32
Loc: Burnet, Texas
I know that social media has helped me gain reputation and clients.
_________________________
Tom Ashworth - Keller Williams
Marble Falls, Texas

http://burnettexashomes.com
http://texas-hill-country-homes.com
http://burnetblog.com
http://ashworthservices.com

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#417425 - 12/25/12 10:16 PM Re: Social Media Myths (From What I've Seen) [Re: Solomon]
gerrigale Offline
Member

Registered: 03/31/11
Posts: 25
Loc: new jersey
I think that social media like facebook, twitter, now google plus all have seo benefits. They are connected to your page rank of your website and over the long haul I think we all need to use social media for backlinks , if nothing else. In regards to gaining actual clients from the use of social media , I think it can work well but it does take alot of time to do it correctly. But I cold call for listing leads each day and that takes alot of time to generate any results also.

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