It seems that everyone today is raving about how great social media is and how everyone should be marketing on social media. Social media IS awesome, but let’s not get caught up in the hype and let’s actually take a step back and analyze how you, as a title agency should use social media to your advantage.
The main difference between social media marketing and yesterday’s marketing tactics is that, unlike TV, radio or print, social media actually allows you to interact with your audience.
That’s the big “get”. Besides that, everyone is now ON social media with their attention directed towards their news feeds. In terms of ad placement, social media is now better than TV radio or print. Facebook and YouTube are today’s ABC, NBC, CBS and so on.
People pay more attention to social network content then to traditional media. So it’s only normal for any company or brand to reach out to their target audience on social.
We at TitleCapture
are using social media a lot. We’re using it to reach out and promote our products and content to title agencies nationwide, but we’re also using social media to manage communities and relationships with our partners as well as our customers.
You see, social media is just a tool, and, as with any tool, you need to understand how to best use it to get the job you want done.
This is why we need to step back and take a look at the two ways that you can actually use any social media platform out there.
The “numbers game” or the at-scale approach.
The first method is what most of you are used to, and it’s what every tutorial online is talking about. I call it the “numbers game”. It’s the at-scale approach and let me explain what I mean.
Let’s say you’re selling some product and you’re targeting about 100,000 people in a certain state.
You create an ad or a series of ads and then use Facebook’s advanced targeting to target “male, 25 to 40-year-old, single, going bald, who just recently purchased product X”. Yes, the targeting can actually be that detailed.
100,000 people are going to probably see your ads and if you’re using a standard conversion ratio – probably around 1% – you’re looking at about 1000 people who may ultimately purchase. For you that thousand products you’ve just sold will bring you a fair amount of money. And if you do it again and again, this is probably a very lucrative business, and the ads will have a very good ROI.
The bigger your audience the better.
This at-scale model is very similar to what you would see when you would do an email campaign where a 2 to 4% click rate is considered stellar.
But let’s imagine that you’re in some kind of community, offering a service that only around 100 people would actually need it. This may actually be the case of a title agency somewhere in a particular neighborhood of Pittsburgh Pennsylvania, and the 100 people are actually the Realtors you’re targeting.
A standard 1% conversion rate means only one realtor out of that list of 100 is going to engage with you, schedule that consultation, contact you, do a quote, etc.
And that’s pretty pretty bad.
Therefore whenever your list or your intended target audience is very small, because you’re probably in the business to business sector, you do need to fight for every single contact out there.
The keyword in this situations is ENGAGEMENT.
Luckily, because of its exact “social” nature, social media allows you to do exactly that. Engage with every single element in your intended target audience.
So this brings us to the second method or the second way of using today’s platforms.
The hustle approach
This might actually be the solution or the preferred tactic for most of you title agency and title agency owners that are currently reading this post, which is to search for and directly engage with each and everyone of your intended partners or clients
The best ways to do this are using platforms that allow you to discover people.
LinkedIn has a tremendous “advanced search” feature that allows you to discover every Realtor and Lender in your vicinity.
You can then send them a direct message, introducing yourself, and offering them something valuable, whether it’s a piece of content you just wrote or you want to invite them to your lunch-and-learn, your webinar and so on.
Twitter is another great platform for interaction. As a matter of fact, Twitter is all about interaction. The fact that you can mention someone and tweet @ someone, plus the ability to direct message them is absolutely key.
Twitter also allows you to discover conversations by searching topics like “real estate Pittsburgh” or “#refinance” or any other hashtag or search term that may be relevant to your service and area.
Being able to then jump into the conversation is awesome because it feels authentic and natural. If you stick to the topic, it is definitely not intrusive and it’s a great way for the others to see who you are who you work for, what you’re about, and maybe even check out your website.
Since were speaking about engagement, if you know how to leverage game dynamics, you could actually employ a more advanced tactic such as building a Facebook Messenger group, where you include the Realtors that you know and you do business with, and allow them to add other participants, aka their colleagues.
This way, you’re actually creating and managing a community, where they could share information, listings, etc between themselves and get deals done. But guess what, you’re also there and able to jump in with a quote whenever needed.
Just to recap, the two most effective ways to use social media to promote your title agency, are actually based on your target audience size.
If you’re a multi-state agency that’s targeting tens of thousands of realtors and lenders, it pays to play the numbers game. However if your audience is limited, you need to hustle and use social media’s native engagement capabilities.