How to Compete with The Big Guys
Blog Post by Sarah Malcolm, Chief Digital Strategist at The News Funnel
Let's be real. Most startups and new companies lack massive marketing budgets. Competing against mega companies with bottomless pockets is a David versus Goliath battle. In that fight, social media is the pebble leveling the playing field. Social networks can promote real estate services with organic or paid strategies. Organic means free, and even if you do purchase sponsored content on a platform, the targeted marketing capabilities improve returns. This makes the little guy can still compete in saturated marketplaces with the right content marketing strategy.
Start with the Strategy
Successful social media marketing begins with careful planning. Conduct a social media audit and draft a social media marketing plan. Identify your key buyers and the social networks they prefer. Learn more about crafting successful social media marketing plans in our cracking social media series.
Social media networks help agent, brokers, and the companies that serve them locate ideal customers. LinkedIn is the most popular network for making business-to-business connections. For a real estate service provider, mine LinkedIn to find ideal brokers and agents. LinkedIn offers special groups for the real estate industry. Twitter is another excellent platform for networking. Use the hashtags to search for people inside the field or to make contact with industry leaders. Search for Facebook groups that are relevant to your industry niche and join them.
Identify industry trends
Stay current with the latest happenings inside the real estate industry using social media. Smaller companies have the advantage over larger corporations with multiple layers to their social media team, meaning they can respond quickly to what's going on without running it by multiple people. Again, Twitter hashtag searchability helps marketers analyze what customers are talking about inside real estate and technology. Track the trends and jump into the conversation to attract new audience members. Other social media networks like Facebook provide polling options the help businesses see what's concerning their ideal customers.
The beauty of a social media network is the ability to quickly respond to customer concerns. All social media networks can be used to demonstrate quality customer service. Twitter excels at producing real-time conversations with customers, but it’s just as easy to respond to customer concerns to Facebook post comments or in Facebook reviews.
Leverage social media reviews
Customers are highly likely to read user feedback before moving forward with your company. Having stellar ratings on social media networks business pages like Facebook can help your business gain an edge over other service providers. Because Facebook attracts so many users–nearly 1.86 billion people around the globe have a Facebook account– businesses can interact with a large number of potential customers.
Highly targeted promotions
Unlike other forms of traditional marketing, the beauty of content marketing is in the power to pinpoint where every cent is spent. Businesses of any sizes can strategically create social media promotions. Facebook is especially adept at creating targeted advertising based on demographics and other factors. Any advertisement made for Facebook can be shared on Instagram.
No matter your marketing budget size, social media and the right content marketing plan will work to attract new leads to your brand. For more tips to grow your real estate business using social media, see a guest post by Duke Vukadinovic.
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