Have you ever looked at your competitor’s social media channels and thought, “Wow! They’re killing it. We really need to get better at social media”.
Or on the contrary, have you thought to yourself, “We get way more engagement than those guys. We’ve got nothing to worry about when it comes to social media”.
Well, whichever is true in your business, this video is for you.
Real estate is a competitive game, there’s no denying that. And since the internet came along, we’ve been able to benchmark our businesses against the competition with access to analytics tools, social media measurement tools and even the ability to jump onto our competitor’s social media pages and see at a glance who is engaging with their content.
Your and your competitors’ marketing numbers are more visible than ever, especially on social media. But here’s the thing, visible doesn’t mean important.
Let me explain.
During one of our digital marketing workshops recently, we shared a case study about a top performing agent here in Australia who generates new business opportunities for his team using content marketing. By sharing helpful content in the form of articles and videos on his social media profiles, his Facebook ads and emails to his database, this agent attracts on average 18,000 visitors to his website each month and generates 15 to 20 vendor leads from his website traffic – every month
During the presentation, an agent in the room raised his hand and made the point that his Facebook and Instagram following far exceed the agent in our case study and the engagement on his social media posts, was far more impressive. Not only that, the agent in our workshop worked in the same market as their friend in the case study.
He was visibly proud of the fact that he had a bigger social media following and more engagement i.e. Likes, shares and comments. The agent in our workshop was right; he most certainly had a bigger social media following and the engagement on his posts, far exceeded the agent in our case study.
Since the birth of social media, marketing metrics such as Facebook Likes or Instagram followers have been easy to find. You can easily see how you rank against your competitors by simply visiting their profiles or using any number of online tools available today.
But marketing metrics such as; how many email subscribers you’ve generated, how many appraisal requests that you’ve received or how much website traffic you’ve gained are all metrics that are much harder to find. In most cases, you won’t ever know how you rank against your competitors when it comes to those metrics.
Although our friend in the workshop is and was able to benchmark his social media metrics against the agent in our case study, when it came to his website traffic, email database growth numbers and vendor leads per month, it was a very different story.
If a marketing metric is easy to see, you’re likely putting far too much importance on it.
Don’t chase ‘easy’ numbers as a primary measure of success. Instead, go looking for the valuable metrics. The metrics you can take to the bank. The ones that your competitors can’t see.
Likes, shares and comments on your social media profiles are good but when it comes to business, they don’t mean much if your business is not more profitable, as a result.