Why Social Media

 

Many sellers are facing the challenge of finding potential buyers. A common answer to that question is via social media marketing. Indeed, according to a survey conducted by Statista 1, 81% of the population in the United States had a social media profile in 2017. That was a 3% growth compared to the previous year.

 

How Do We Differ

Although many realtors have used social media marketing, we differentiate ourselves in terms of research and technology. 

 

1. We target the audience. 

Buying a house is like dating. The house and the buyer need to fit each other. There are two types of fitness.

• The first type is what we call need-demand fit. First, we evaluate to what extent the house can satisfy the needs of the person. For example, A 1200 sqft house is a good fit for a small family but not so much to a big family. Second, we also look at to what extent the person can satisfy the needs of the house. For example, a single-family home needs TLC is probably not a good fit for families with tight working schedules but is perfect for those who have construction skills. 

 

• The second type is what we call personality-congruence fit. Do you think a house has its own personality? You bet. Some houses are warm while others are smart (see Figure 1 and 2 below).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

People tend to choose the house that fit their personality, value, and identities. For example, people who are agreeable and value relationships tend to pick warm houses whereas people who are independent and value achievement tend to pick smart houses.

 

2. We know how to reach a targeted audience.

 

One of the common mistakes that people make is to take on every social media channel possible in their current marketing strategy2. This is because people don't know which channel to choose. Therefore, they choose all. We differ because we do research to understand our audience. For example, York (2018) provided some essential demographic information for each channel3. 

 

• Facebook’s most popular demographics include:

  • Women users (89%)

  • 18-29 year olds (88%)

  • Urban- and rural-located users (81% each)

  • Those earning less than $30,000 (84%)

  • Users with some college experience (82%)

• Instagram’s most popular demographics include:

  • Women users (38%)

  • 18-29 year olds (59%),

  • Urban-located users (39%)

  • Those earning less than $30,000 (38%)

  • Users with some college experience (37%)

• Twitter’s most popular demographics include:

  • Women users (25%)

  • 18-29 year olds (36%)

  • Urban-located users (26%)

  • Those earning $50,000-$74,999 (28%)

  • Users with college experience or more (29%)

• LinkedIn’s most popular demographics include:

  • Men users (31%)

  • 18-29 year olds (34%)

  • Urban-located users (34%)

  • Those earning $75,000 or more (45%)

  • Users with college experience or more (50%)

• Snapchat and other auto-delete app’s most popular demographics include:

  • Men users (24%)

  • 18-29 year olds (56%)

  • Those earning less than $50,000 (27%)

  • Users with some college experience (27%)

 

If a house is listed as $600,000, it is more appropriate to list it in LinkedIn than in Facebook (LinedIn users, 45% earns $75,000+ vs. Facebook users, 84% earns $30,000-, see highlighted in green above).

 

 

3. We already earned the audience's trust via engagement

 

When you decide to sell a house, the audience is like strangers to you. Yet to us, they are like old friends. This is because we engage with them every single week. We give free lectures, tips, hear their stories, and invite them to various events.  At the same time, we seek feedback to improve audience activity experiences. For activities, see events. 

 

 

 

 

 

 

 

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Reference

1. Statista (2018), Percentage of U.S. population who currently use any social media from 2008 to 2017, Retrieved from https://www.statista.com/statistics/273476/percentage-of-us-population-with-a-social-network-profile/

2. Josefina Casas, The 10 most common mistakes of companies in Social Media and how to correct them now! Retrieved from https://postcron.com/en/blog/common-mistakes-in-social-media-for-businesses/

3. Alex York (2018), 7 Steps in Creating a Winning Social Media Marketing Strategy in 2018. Retrieved from https://sproutsocial.com/insights/social-media-marketing-strategy/