The National Association of Realtors forecasts younger millennials (those born between 1990- 1998) and older millennials (those born between 1980-1989) making up 37 percent of homebuyers in 2019.
A Neilsen study also showed that collectively, this is the same age group that spends the most time on social media — clocking in about 13 hours weekly — making it a ripe marketing channel for agents who want to extend their brand reach, engage new buyers and uncover more versatile advertising platforms compared to traditional methods like print.
So, which channels should you use?
Social media networks and their capabilities continue to grow at a rapid rate making it difficult for a busy agent to keep up with all of the nuances associated with each. That’s why one of the first questions you should ask yourself is who is your intended audience?
Younger users tend to prefer sites like Snapchat and more business-oriented individuals steer toward LinkedIn. Agents with limited time to devote to their social strategy might want to consider sticking to the market leaders in the space – Instagram, and Facebook for the bulk of their social activity since those have been known to be the largest converters when it comes to potential buyers.
Tips for more effective social media
Make It Accessible
Encourage and set up your social profiles so your followers have multiple ways to get in touch with you. Along with including your basic contact information you can also add in CTAs in which prospective clients can schedule a meeting with you or RSVP to an upcoming Open House. If you host lots of events, be sure to add them as events on Facebook to get extra reach and track RSVPs.
Choosing Content
Just like when you think about your email and text marketing, a primary goal of your social strategy should be to provide followers with high-quality, useful and engaging information that people want to see and read.
Especially when it comes to Instagram and Facebook, your posts will be competing with pictures and updates from family and friends (think adorable baby pictures, pet pictures and the like). Posting a sales promotion for your business will quickly get ignored.
Instead, use your profile to showcase yourself as an expert in your market by posting interesting local news items, links to community events, market stats and trends and even helpful hints for how buyers can use creatively use financing to get into a home with fewer upfront costs.
Use high-quality, beautiful imagery on your sites whenever you can. This works well when you have stunning listings to showcase but keep this in mind for any photography you post. And don’t be afraid to get you your cell phone and start making videos. The more authentic and real the better.
Don’t be afraid to repost and share other people’s content as well, particularly if it’s relevant to your market and is something that can be useful to your clients. Social media is also a great place to highlight any content you post on your own blog. The backlinks can help drive organic traffic and ultimately increase your search rankings.
Advertising
Advertising on social media offers many advantages that traditional advertising channels just can’t touch.
Facebook, in particular, is now offering a product called Dynamic Ads for Real Estate that optimizes creative images sourced from your MLS to provide the right ad content for your audience. These eye-catching ads not only stand out due to their dynamic nature, they automatically adjust to a lead’s preferences based on their behavior. Chime clients who have been using DARE have seen 70 percent higher click through rates and 40 percent higher lead conversions at a much lower rate than the industry standard.
Track and Retool
Another advantage of using social media for your marketing is how easy it is to track the success of your posts, both organic and paid. Facebook, in particular, has an analytics dashboard that allows you to view impressions, click-through rates, and engagement. After a few weeks of consistent posts, you’ll be able to get a sense of what your audience is paying attention to and you can start better tailoring your content to match their interests.
If you’re ready to get serious about your social media marketing strategy, particularly growing and automating your social advertising for less, give Chime a ring