InfiNET Marketing

Social Media Capital‘s ROI

The return on investment for implementing a social media marketing strategy for your business comes in two forms: 1) revenue and 2) social media capital.

Every real estate agent we know of that has implemented a social media marketing strategy and worked it diligently for at least a year can attribute closed escrows directly to their online efforts. It is always a good business practice to ask new clients or potential clients how they find us. Knowing which marketing and branding efforts are paying the best dividends is critical to controlling costs and maximizing ROI.

Social media capital can come in many forms: comments on blog posts, being mentioned or quoted in other blog posts, having journalists contact us, having people “friend” us on Facebook, people following us on Twitter, retweeting us, having people reach out to us on LinkedIn, and etc. In short, social media capital, is gaining recognition, influence and value in the various social media venues.

The obvious value in social media capital is the potential of hundreds or thousands of fans promoting us and our interests to their followings. Word of mouth marketing operates online at a faster pace and to a greater audience – a.k.a – viral marketing.

We build social media capital in the eyes of readers and potential clients when they begin to perceive us as experts in matters of real estate and our niche market expertise.

Using blogs, short videos, tweets and status updates helps us to market our core competencies and branding. When we integrate all of these components and more into a synergistic effort, we create a very concentrated message spread across many venues that reinforce each other and the message.

Social media marketing is an excellent venue for direct response marketing if done right. Many people new to social media marketing make the mistake of treating social media as a venue for broadcast advertising.

Next Post on Using Social Media to Dominate Your Real Estate Niche Market:

• Real Estate Niche Markets

(Read the entire series on Niche Marketing in Real Estate)