Social Networking for CRE: The BasicsMid Atlantic Real Estate Marketing Association – November 19, 2008

Taking the Temperature of the Room How many people here are involved in a social

network? Personal Professional?

Do you get a lot out of it?

What is Social Networking? Social networking is a phenomena defined by

linking people to each other in some way A social networking site allows you to identify your

contacts and establish a link between you and each of your contacts (clients, prospects, friends)

People have always social networked, but the Internet has opened new ways of doing it globally

Types of Social Networking

Remember that there is professional social networking, and there is personal social networking.

The two shouldn’t mix ... unless you want it to!!

“Places” to Social Network Personal

General – Facebook, MySpace, countless others Interest-based – Flickr, DailyMugshot, about a billion

others Professional

General – LinkedIn, Plaxo Industry-Specific – Sibdu, ActiveRain, i-Meet, CultureMob Demographic or other niche – BusinessWomenUnite.net

“Places” to Social Network Professional / Personal

Can be done ... but needs to be handled differently Best place to do this is Facebook

So ... ? (WIIFM) Use social networking to:

Find new prospects Strengthen relationships with current/past clients Gain referrals (top of mind) Network with allied professionals Network with out-of-town brokers/agents

So ... ? (WIIFM) Common theme? Social Networking = $$$ But ... it takes:

Time Patience A willingness to really work with and help people

TEAM – Together Everyone Achieves More

Social Networking – Business Use For maximum ROI, participation should be in a

community where interests are / can be shared Interaction with your network(s) – the big “key”

Your networks are just like buildings that need maintenance

Maintain them by communicating with them and supporting them

Social Networking – Business Use Build yourself up, by becoming an “expert” in the

minds of people with whom you network Your submitted blogs, articles, opinions, photos,

videos, multimedia, reviews, etc. Different networks have similar tools ... use all of them

You have to become a “rock star” to your audience Not only in putting out your voice, but responding to

people in your network as well

Social Networking – Business UseMedia today is no longer about “elites” [professional

media, marketing departments of companies] pumping out information and sales pitches while the masses listen in. The Internet is the dominant force in our culture today because it enables people to find and talk to others -- existing friends and new ones who share their interests -- and talk to brands that they care about ... YOU.

Recommendations Join networks!

But not just any networks – remember, maximize ROI For CRE and Business Brokerage, I recommend:

Sibdu (www.Sibdu.com) LinkedIn (www.LinkedIn.com)

Recommendations If you want to have a “personal / professional”

presence, I suggest Facebook (with caveats) Realize that you’re sharing personal information with

professional contacts My rule: Only let the people you’d invite to a party or

out for drinks at a Happy Hour .. and share only that kind of information in your personal / pro social networking presence

Recommendations If you want to have a personal presence, I suggest

Facebook as well This is probably the most “protected” sites from the

“unwashed public” Make sure you have control over your information

Who knows what will show up in a Google search?

What NOT To Do Join all kinds of different networks for business

Keep in mind ROI when deciding to join/not join, mainly from a time standpoint

You’ll start getting requests from people in your current networks to join new ones (see the above point)

Join MySpace solely for business purposes Exception: If you’re marketing to “retail” clients, particular

businesses or specific demographic groups that use MySpace

Tips for Successful Social Networking and Marketing Use social media and social networking as a way

to listen to your network of clients/customers You’ll learn what they want, gain invaluable market

intelligence, and be well equipped to improve your product or service -- or create new ones -- knowing exactly what the market wants.

Tips for Successful Social Networking and Marketing Treat your relationships with consumers as long-

term conversations Don’t just devise short-term programs that open up the

conversation for brief periods. Figure out how to become “friends” with your

customers. Friends talk to each other, over the long haul.

Tips for Successful Social Networking and Marketing Participate intelligently in the online social

community. Bad: Posting a press release about a new listing, etc. Good: Share pre-release news of an upcoming listing

and offer sneak details to selected enthusiasts within your online community, asking them to be reviewers and offer feedback.

Tips for Successful Social Networking and Marketing Bring clients (past, present) and prospects into

your inner circle Product planning meetings no longer are limited to the

ideas of your staff. Use social marketing techniques to identify core

enthusiasts, then tap their ideas.

Tips for Successful Social Networking and Marketing What do your clients, prospects and / or brand

enthusiasts care most about? That’s what you want to create interactive, participative

online communities around. The opportunity in social media/marketing is in serving

this passion.

Potential Social-Networking Strategy LinkedIn – general professional network Sibdu – network that’s specific to your industry Facebook – for personal or professional/personal MySpace – ONLY if you’re going after “retail”

clients

Learn how to use each effectively – tools, tools, tools!

What is Sibdu? (www.Sibdu.com) Professional / social networking for anyone in CRE

Business brokerage can easily use as well Think of it as Facebook meets Craigslist, but with

tools specific to CRE Local Groups Ability to form Public and Private Groups Associates

What is Sibdu? (www.Sibdu.com) For Brokers and others buying, selling and leasing

property, we have our Market Match tab Full listing support, including documents and video RFPs – let other real-estate pros know about the

properties you’re looking for Sibdu is there with you from the start to the end of

your deals

A Potential Use for Sibdu Build your own “network” of customers and allied

professionals, using Sibdu’s tools Create a Public Group Invite all of your prospects, clients, allied pros, etc. Get them networking and building their relationships Provide your own content – be their “expert”

Tribes by Seth Godin How to lead a “tribe” and build your business

A Second Use for Sibdu Set up an “intranet” for your company / group / ofc.

Make a Private Group Invite only people from your company / group / office Use all of its features

Share documents, intelligence Schedule meetings

Interested in a “Sibdu” or bringing social-media / Web 2.0 functions to your company’s Web site? We have solutions available Ask me after the presentation / Q&A

Q&A / Thank You!

Bob Woods | Sibdu.com240.482.8276

bob@sibdu.com