BLOG POST BY SARAH MALCOLM, CHIEF DIGITAL STRATEGIST AT THE NEWS FUNNEL
Social media is about to score another point for the marketing department. The topic on the court: focus groups.
Although traditional focus groups can provide valuable qualitative information, social media is a more relevant approach to understanding client behavior in today’s data-driven world. Today’s savvy agents are increasingly drawing on social media as a reliable, efficient and effective alternative research solution.
Social media is quickly emerging as the most powerful marketing tool. In commercial real estate, these platforms help close the gap between agents and their clients.
Switch to Social Media
Worldwide, the average person spends about 135 minutes per day interacting with social media. This means liking and clicking and scrolling through content that does and does not resonate with them--for hours. Some people call it a screen addiction, we call it a whole lot of authentic consumer feedback. It’s raw. The numbers are huge. And it’s not curated.
In this mess of information is the key to understanding attitudes and behaviors of potential clients. How are they interacting with content? What language do they use to describe your business? What advice do they give their friends? What is the correlation between demographics and content interaction?
Analyzing social data is more organic than the focus group methodology. There are inherent flaws that come with observing participants in a controlled environment. Just knowing they are part of a group alone can impact a person’s ability to be natural and honest. Studies show people tend to change their behaviors when they know they are being studied..it’s science!
Who’s in the Audience?
Different social media platforms reach different audiences.Generally speaking, the social media platforms with the highest engagement is Twitter, Facebook, and LinkedIn. The first thing your company needs to determine before they send someone digging for data is who are you trying to reach. What type of commercial real estate are you selling? Who falls in the bracket of potential buyers?
The New Focus Group
Social media is equivalent to one big fat focus group that never sleeps. There isn’t a time of day (or night) that you can’t curl up next to your laptop and get the latest gossip on what people are saying about your company. Thanks to social networks, marketers can obtain real-time client insights within seconds.They don’t have to waste a minute (or a dollar out of the budget) and use the updated data to optimize their marketing programs.
Emotions flow freely on social media. Social media users have the freedom and a platform to express their unsolicited opinions about and experiences with the CRE market. Tap into the feedback and use this written truth as leverage with your clients or to target new clients.
Social media has created opportunities and challenges for nearly every industry, including the commercial real estate industry. Advances in technology have empowered companies to jump a hurdle by using social media to fuel their researching efforts. The ultimate goal for your business should be to tap into the power of social media to help make strategic decisions, reducing risk and optimizing return on investment.
To read more #KeepingCRESocial posts, click here.
Need help with your social media strategy? Contact Jen@thenewsfunnel.com to learn more. We manage some of the BIGGEST brand’s social media in CRE and more importantly WE GET RESULTS. Can I get an AMEN!?
If you are interested in booking Sarah Malcolm as a speaker feel free to reach out directly at email@example.com.
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