Comprehensive Guide To Planning Your Real Estate Social Media Strategy: Part 4/5
How To Select A Magic Metric And Find Key Influencers
Understanding the concept of ‘engagement’ is very challenging as every website is different, every brand is different, site visitors interact and transact differently with your company’s website than with other websites. Different actions may represent bigger steps by a visitor toward a likelihood to buy or donate through your website versus others.
I want you to remember that the point of making smaller engagement goals like ’10 new page likes per day’ is to keep the goal achievable and drive your team toward a clear, measurable objective. Types of visitor engagement include: visitor loyalty, subscriptions initiated, content, and visitor promotion (just to name a few). It is not just engagement you should be tracking, you should also be considering influencers in your industry who can reach an audience even greater then your own and promote your message further.
The goal of this blog post is to help you identify the metric of engagement that matters the most to your brand and the influencers that can help you reach a greater audience and a greater level of engagement.
Find Your Sales Funnel’s Magic Metric:
As you build your company’s optimal sales funnel, you will also find your ‘magic metric’ that your sales team will focus on and nurture. When discussing the sales funnel with clients, I always ask what metric they are tracking and the knee jerk response is usually, ‘sales’. After talking to other entrepreneurs in the customer service and sales funnel space, I learned that the largest catalyst of lead-to-sale conversion is the time it takes to respond to a customer. In other words, the faster you can follow up with a prospective lead, the greater your chances of having an overwhelmingly happy new customer on your hands.
As a small business, you won’t have a lot of room in the budget to hire a full time marketing professional and as tempting as it is to just hire some new grad of Craigslist, I strongly advise against it. 98.7% of competitive marketing acumen is not built from traditional education, but rather from hands-on experience; experience you can afford on a contract basis!
As you are developing your sales funnel, I strongly advise you work closely with your marketing agency and sales team. As there is not one set of metrics that optimise every company’s sales funnel, I suggest reviewing the list below and deciding which prioritised metric may yield the highest annual profit.
Find Your Magic Metric:
- Follow-ups (Anywhere from 50-100 phone calls and 1 – 12 months)
- New Lead Engagement/Response Time (Shorten the response time and increase the chance of converting a warm lead to a hot lead)
- Freemium Freebies (Free trial is already a 75% sold customer)
- Identifying Ideal Customers Faster ( Knowing precisely what the customer wanted faster so if necessary customer was moved to a different campaign as needed)
Target The Influencers
Take the time to get to know the key influencers in your industry. Nurture these contacts, make these contacts advocates and request support for your initiatives.
Who are influencers?
Influencers are leaders in your industry who command attention when they enter a chat room and attract a large following through avidly publishing their opinion.
Why does your social media strategy need influencers?
In today’s day and age, the general public just doesn’t trust advertising. They trust third party endorsement. This makes sense when you think about it. If you are at a conference and Scott comes up to you and start boasting about his own accomplishments and accolades, on a scale of 1 to 10, how likely are you to believe him, never mind like him? But if a past client of Scott’s comes up to you at a conference and starts chatting with you and then casually starts endorsing Scott, doesn’t Scott seem that much more reputable? I think so!
When you align with an influencer, not only do they bring their audience, but they also bring their audience’s network as well. Because of the loyalty of their audience, an influencer has the ability to drive traffic to your site, boost the sales of open house galas, increase your social media exposure, and flat-out sell your listing through their recommendation or story about their experience with you and your team. But you can’t just make a list of influencers and then expect their mere presence on your list to attract multi-million dollar clients to your office.
An effective influencer social media marketing strategy requires you to speak to the right people using the right tools (and the right influencers), just like you do in all of your other marketing work. Influencers are partners that can help you drive impact and spread the word about your brand. You have to open up the lines of communication and really build up your relationship with these influencers.
Start Slowly: As you start your influence social media campaign, start out slowly and then start to ramp it up based on your measurable results.
Quid Pro Quo: As a marketer or business owner, your knee jerk reaction is to build a campaign around what is best for your business instead of what is best for the community you are trying to build. As you brainstorm the milestones that will mark the progress of your influencer campaign, focus on the value you will bring your audience. This value can come in the form of information, connections, freebies, events, Google hangouts, exclusive offers or a whole slew of other incentives.
Keep Messaging Consistent: When you are choosing influencers, you want to ensure those influencers are aligned with your values and voice. When you know that your brand is aligned with their brand, it will make it a lot easier to give your influencers creative freedom over presenting your brand to their followers.
As you start to work with influencers, you want to make sure your message and tone remain consistent with your own brand. A social media influencer who has worked hard to build a following will not accept a partnership that will compromise their influence and make their own personal brand seem inconsistent.
This post is part of a 5-part series. If you want to read the entire series, just click on the next post in the series!