Social Media and the internet…. Is it here to stay?

Posted: December 21, 2010 in Arizona Mortgage Rates

 

GrouponFacebook, YouTube, Flicr, ActiveRain, Twitter, Bebo, Foursquare, Digg, Linkedin, MySpace, MeetUp, Freindster and on and on and on.  Where does it stop?  Is social media here to stay?  I think so.  And it’s changing the way that even big corporations do business.  Let me give you a good example:  There was a company that got started less than 2 years ago called Goupon.  Goupon takes advertisers merchandise and sells it online to subscribers at a guaranteed rate then delivers the sales to the advertisers without having the customer have to visit to businesses themselves.  So if I sell chocolate, then I can go to Groupon and say, “I have 1,000 chocolate bars that I’d like sold for $1.00 a bar.  Normally I can advertised the retail price is $2.00 a bar.”  So Groupon takes that chocolate bar and sells 1,000 bars for $1.00.  They might pay the seller $.79 and keep the rest. They never had to wharehouse the chocolate bar, deliver the chocolate, or anything to do with the chocolate bar that was a cost to them.  They only charge the advertiser when the contract has been fulfilled.  So it’s a win/win for everybody involved.  The consumer got a chocolate bar for 50% discount, the advertiser only pays if there campaign is successful, and Groupon takes on little to no risk! 

Groupon turned down an offer from Google for $6 Billion. And this is a company that has only been around for 2 years!  With that being said, I do believe that this new wave of advertising is here to stay. 

Social Media

So what does that mean for us in our industry and how can we capitalize on that?  Well let’s start with Facebook.  On Facebook, we can build an ad, and target a select audience.  So if I were an agent and wanted to get business off of Facebook, I might do some research to see who is hiring.  For example, in South Carolina, retail sales gained about 1400 jobs.  I might start a Facebook ad and target people that work in retail like at Macy’s or JCPenny’s in South Carolina and the ad would look like this:

The way that Facebook charges for these ads is called “Cost Per Click” or CPC.  Noticed that on the ad, I put call me at and then a phone number.  The reason that I said to call me is because I don’t think many people would really click on an ad that says, “Call me”.  They might be more inclined to pick up the phone and call me.  So the ad doesn’t cost me as much.  Maybe a couple of bucks and might generate a phone call or 2.  Would you spend a couple of bucks for 2 phone calls from someone that needed help in your area?  I know for me it would be a great investment.  This is just an example of one type of advertising that I’ve seen of Facebook!  For those of you that read this blog and have other ideas for ads that might work on Facebook, please comment below and share your ideas.  That way we can all come up with a couple of ways to spend our advertising dollar just a little smarter and stop paying for the print ads in the Apartment Guide or the local newspaper article that doesn’t pay off, but unlike Groupon, they want thier money either way. 

The next part to placing this ad is targeting our audience.  Here’s the next step:

So, as you can see, I might run the campaign and not even get charged $1, but still might have a phone call or two.  Someone asked me last week if Facebook would kick me off of Facebook for running an ad that says, “Call Me” and my reply to them was, “Facebook approved the ad!”.  So, no, it is up to them to approve the ad or not, and I’ve had at least 10 ads approved with the phrase “Call Me”. 

If you don’t have the IMSDesignation, then go to http://www.imsd.net/

 
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s