As a marketer in this world, a common question is: “How many leads can I expect from LinkedIn, Twitter, or Facebook?”

Many of the clients that I work with are in a world that revolves around numbers. ROI and deals are familiar topics. As a marketer, a common question that I get is: “How many leads can I expect from LinkedIn, Twitter, or Facebook?”

I understand that no one wants to invest time on any marketing initiative where success cannot be measured. While measurements and analytics are an essential component of marketing programs, providing historical data for social media in commercial real estate can be tough for several reasons.

Lack of history. 

Traditional industries like banking, financial services, or commercial real estate are just recently embracing social media for their businesses. In a world that thrives on analytics, statistics, and proof of concept, the problem is that it is harder to build historical data where there is resistance to new ideas.

Because social media use in commercial real estate is not commonplace, strategies are still developing. All this newness makes benchmarking and analyzing industry averages a challenge and a proverbial Catch 22 for an industry to that wants a cart and horse to come at the same time. The good news is that social media has been successful in other areas. It is safe to say that it is not a fad, and there is no better time than the present to get a jump on your competitors when it comes to social media.

Many commercial real estate professionals are not using social media correctly. 

Speaking of developing strategies, there is something to be said about “the how” of using social media. While there are a growing number of CRE professionals that are becoming comfortable with social media, there are more many more that are just dipping their toe into the water. They will quick to admit that they “just don’t get it.”

I am excited every time I see a colleague make their first appearance in the online community. Unfortunately, their lack of comfort, knowledge and missteps create an awkwardness and lackluster results. What happens next is that they abandon their efforts prematurely. My advice to is: don’t give up. This is no different than networking, and you can do this.

 

Social media strategies need to be integrated into an overall marketing strategy. 

Like almost any marketing initiative, social media does not succeed in a vacuum. Although hugely useful as part of the overall strategy, Twitter, LinkedIn, and even Facebook will not generate leads for your company on their own.

Used in conjunction with other business development methods (both online and offline), social media has the potential to build brand equity, position you as an authority, solidify relationships and more.

Consumers of all kinds are turning to the internet as the first research tool. That fact makes social media a valid resource to push and pull the brand messaging that can help you connect with your potential and existing clients. It can also contribute to driving search engine results.

Ultimately, though, without understanding how social media fits into your overall business marketing strategy and having a systematic way of using it, social media can be a time-consuming endeavor, similar to shooting darts in the dark.

If your business operates in commercial real estate and you would like to explore social media marketing as part of your overall marketing plan, be sure to contact me at [email protected] or (954) 817-9214.