Online Real Estate Technology

Many B2C and B2B companies are successfully using social media networks to acquire customers, according to [pdf] the “State of Inbound Marketing Report” from internet marketing firm Hubspot.

Major Social Media Channels Provide Leads to 4 in 10 Companies

More than four in 10 companies overall have acquired a customer from four major social media channels. Forty-one percent of companies have acquired a customer from both Twitter and LinkedIn. That figure rises to 44% for Facebook and 46% for a company blog.

Social Media Especially Helps B2C
When social media customer acquisition figures are broken out by B2B and B2C companies, it becomes clear that B2C companies generally obtain much more value from their social media marketing efforts. Fifty-one percent of B2C companies have acquired a customer from Twitter, compared to 38% of B2B companies. The difference is most stark in customer acquisition figures for Facebook, which 68% of B2C companies have obtained a customer from but only 33% of B2B companies.

When it comes to professional social media network LinkedIn, however, the usefulness trends reverse. Forty-five percent of B2B companies have obtained a customer from LinkedIn, compared to only 26% of B2C companies. Figures for company blog customer acquisition are closest in range, with 57% of B2C companies and 43% of B2B companies obtaining a customer through this channel.

Blog Post Frequency Makes a Difference
Examining company blogs closer, the unsurprising finding is that the more posts a company makes, the more success it will have driving new business. One hundred percent of companies posting multiple times a day on their blogs acquired a customer, and 90% posting daily acquired a customer. This figures declines to 69% for companies posting two to three times a week, and all the way down to 13% for companies posting less than monthly.

Most Business Blogs Post Weekly
The majority of business blogs in 2010 post weekly (38%). Another 29% post two to three times a week, and 17% post monthly. Only 3% post multiple times a day. Only 58% of companies making weekly blog posts acquire a customer, meaning most companies are leaving a significant tool for customer acquisition on the table.

Bigger Business Blogs Better Lead Bringers
Business blogs begin generating significantly more leads when they have a median of 24 or more articles posted, according to other research by Hubspot.

Businesses with blog article numbers above this critical threshold are likely to have enough content to make a significant impact on search engines through additional indexed pages and new keywords with which to associate. In addition, other sites are more likely to link to a blog that offers a steady stream of content. Businesses with blogs of 24-plus articles are more likely to be committed to updating their blog frequently and, thus, are likely to generate more traffic from referring sites.

Business blogs that have 0-11 articles posted will generate a median of three leads. Once blogs reach the 12-23 posted article threshold, this median dramatically rises to 10. However, blogs with 24-51 posted articles generate a median of 13 leads, and will generate a median of 23 leads when the posted article threshold reaches 52. This represents 77% lead growth, more than twice the 30% lead growth that occurs when the number of posted blog articles reaches 24.

Business blogs begin generating significantly more leads when they have a median of 24 or more articles posted, according to research by internet marketing firm Hubspot.

Businesses with blog article numbers above this critical threshold are likely to have enough content to make a significant impact on search engines through additional indexed pages and new keywords with which to associate. In addition, other sites are more likely to link to a blog that offers a steady stream of content. Businesses with blogs of 24-plus articles are more likely to be committed to updating their blog frequently and, thus, are likely to generate more traffic from referring sites.

Business blogs that have 0-11 articles posted will generate a median of three leads. Once blogs reach the 12-23 posted article threshold, this median dramatically rises to 10. However, blogs with 24-51 posted articles generate a median of 13 leads, and will generate a median of 23 leads when the posted article threshold reaches 52. This represents 77% lead growth, more than twice the 30% lead growth that occurs when the number of posted blog articles reaches 24.

Businesses with Blogs Generate 67% More Online Leads
Businesses with blogs generate 67% more online leads than businesses without blogs. A business with a blog will generate a median of 15 online leads, compared to a median of nine online leads for a business without a blog. Blog size does matter to a degree, as businesses with a median of 10 blog entries or less report similar online generation numbers to businesses without blogs.

Advice for Bloggers
Based on its research, Hubspot offers the following advice to business bloggers:

• Increase the number of keywords marketers rank for in Google. Through blogs, marketers have the opportunity to create unique content that can be different from their web site content. They have the potential to significantly increase the number of keywords they rank highly for in Google.
• Generate inbound links. These are a central factor in Google’s organic search ranking algorithm. Other related sites are likely to link to a blog that provides interesting and fresh content.
• Increase repeat visitors.

  Blogs give visitors a reason to come back and interact with sites.

Google Page Indexing Creates Leads
In addition to blogging to generate online leads, the more pages a company has indexed by Google, the more leads it will generate, according to related research by Hubspot. There is a strong positive correlation between the number of Google indexed pages and median leads. An incremental increase of 50-100 pages indexed by Google can cause lead growth in double-digit percentages. For example, going from 60-120 indexed pages to 121-175 indexed pages can increase a company’s median leads from seven to 12, creating 58.3% growth.

The most significant improvement in median lead growth comes when a company increases its indexed pages from the 176-310 range to the 311-plus range. Median leads skyrocket from 22 to 74, representing triple-digit 236% growth. After exceeding the 311 indexed pages mark, median lead growth subsides.

Great Words of Advice

Today whilst visiting a real estate office we got talking about social media strategies and why as a real estate office they should be working towards implementing a social media strategy, not just to farm new pastures, but also to help them in the optimisation of their web site. During the conversation we got on the subject of blogging, and why creating a blog would help their Internet marketing efforts.

Well I have to admit that over the last few weeks I’ve neglected this blog a bit as I explore new areas and work on my web site, so with a little bit of a guilty feeling, I’ve motivated myself to write this article, and you can probably guess what it is about, making sure you create and maintain a disciplined approach to blogging.

In my research I come across a lot of blog writers who after a period of time, and it’s often around the 12 month scenario, tend to get a little bit of writers block and lose interest in maintaining their blog, which is what happened to myself, and in a number of cases the blog gets abandoned altogether.

The Internet is full of abandoned blogs, left in the wilderness by writers who lose interest.

It’s not easy maintaining a blog on a regular basis, you also have to work hard at maintaining your audience and coming up with new content that appeals to your readers.

So today I’ve written a list of things that I will do to assist me in writing articles for my blogs and I’ve listed them below for you, if you are just starting as a blogger I hope they help set you on a disciplined approach and most of all don’t give up.

1. Set aside 1 hour each day to research for new articles – doesn’t matter what time of day it is, just DO IT! – Talking to other people also stimulates ideas for posts. Mornings I find are much better, I can sit in my pajamas and coffee and read.

2.Write when you get urge - A lot of times I’ll come up with an article idea and leave it till later, in most cases later never comes.

3. Create a list of topics and categories – Then write first about what you like or are passionate about. That way you’ll enjoy writing about your favourite topic.

4. Revisit your old articles - Some of these older stories can be updated and rewritten. As some of these topics are changing almost daily, providing updates on these old stories can generate new ideas.

5. Read other Blogs & Bloggers - This will help to create ideas as well, it gets the creative juices flowing and helps with topics and trends.

6. Subscribe to RSS Feeds - Make sure you get updates delivered right to your computer, and use some of these articles on your own blog. They help break up the style of writing and provide different opinions on topics. But remember, always credit the author of the article.

6. Commitment - Now here is the magic word, once you start you really need to be committed to your blog, so create that list.

That is what I intend to action from today, I put it up on my office wall so that every morning the first thing i see will be the list.

I hope that if you are just starting out, this little list will help keep your blog on track and if you have any additions to the list please share them with me.

Feedback on Content

I’ve had this blog running now for over 12 months and what started as a bit of fun for me has developed into a great passion. The blog has been more successful than I would have imagined, when I started it in June of last year.

Successful, at least in the number of people who read my posts and visit the blog on a daily basis, so I thought I would ask the question of you, what information do you find the most helpful? What content would you like to see me feature or write about on this blog that helps you the most in your business in the next 12 months?

In checking out the popularity of my posts over the past year, some articles that I thought would be popular were not, whereas other posts on Blogging and SEO were very popular, so it’s clear to me that you prefer certain topics over others.  Articles on Social Media for example, have been amongst my lowest read posts.

So the question I put to you is, which of the following topics would you like more information on:

SEO

Technology

Internet Marketing

Social Media

Blogging & Podcasting

Copywriting

Video

Even if the topic is not listed above, let me know what content you would like and I’ll do my best to provide the information you find most useful.

A Rating Site for Blogs

For those of you that have just created your blog  or would like to start to get readers and traffic to your articles, I thought it worth a mention of a site that I’ve just added my blog too. There are a number of directories on the web that you can add your blog to to start to get readers and this one is quite a good one as it also allows users to provide ratings of your blog and/or topic.

This is a great tool for getting feedback on your articles and researching what they like or don’t like about what you write.

It’s called Scribnia and whilst it’s only in public beta testing at the moment, which means it’s under going changes and tweaks regularly, I found it quite easy to navigate, and to find authors and blogs on all types of topics that were of interest to me.

Scribnia is a social community, based on the premise that everyone has a favourite author, blogger or even publication, and it’s goal is to help you discover new writers based on analyzing user ratings and your preferences.

You can rate my blog and articles here if you would like to see how it works and give me some valuable feedback at the same time. 

Any blogger can claim a profile on the site and to verify the claim you just add a small piece of code to either a widget on your side bar or add it to the bottom of one of your posts. The code is invisible so your readers won’t see it. Once you’ve claimed your blog you can use your profile to interact with interested readers and another great section to the site is the ability to search by publication, so if you have a favourite topic and like to just search through the available blogs you can. 

It’s well worth a try, so here’s a shot of the front screen to give you a heads up on what it looks like.

Front Screen Shot

For those of you just starting out, trying to get an understanding of how to formalise your social network strategy, can be a very confusing journey, So I’ve decided to post a few articles to help you understand how it all works. 

My previous post was to help you “listen” and “understand” how to start to engage, this post is to help you define your strategy. So firstly, before you go off and create lots of blog posts and join all the sites, lets set up your strategy.

You need to define who your target market is before you start:

People – Who is your target market? Look at their social activities!

Objective- What do you want to achieve out of communicating with your defined market? What do you want to accomplish?

Strategy – How are you going to influence your market, Plan for how relationships with your consumers will change.

Technology - Decide which social sites to use.

Apply the principles of POST to all the sites you decide to use, once you have done your homework, you’re ready to start.

Before you go and log in to all the sites available read this post first.

I’ll cover your first steps in the next few posts for you. If you need any help just ask.

Download this post as a podcast here

During my seminar presentations I probably sell the concept of a social media strategy like a salesman, get you on a high and all excited about the potential it brings to you and then leave you on your own to do it. That’s the impression I’m getting lately, the more i do of the seminar presentations the less time i get to actually spend time with agents in their offices advising on where to start, so I’ve decided to post about the steps to take to get you on the road.

If you are wanting to start your blog or social media strategy, first thing to do before you set up, is listen.

Listen to conversations on blogs that are of interest to you and your business or the area you want to enter into. Search for conversations from like minded blog writers and a good place to start is to sign up for Google alerts, create the alert on the subject you want to “listen” too, for example, if you want to follow real estate blogs, then create the alert on Google for “RealEstateBlogs”, sure your email inbox will fill up with blog posts in no time, but this is a great place start and to see what topic is being written about and who is doing the talking.

Follow the conversations and take note of the way the writer structures the information, more importantly, take note of the content and whether it provides you with really good information or advice that you find useful. Once you have decided what you like, then start to engage.

Do this by commenting on blog posts you like, giving a blog writer feedback joins you in the conversation that blog writer is having with his or her readers. Join Twitter and Facebook and any other social media site you’d like to participate in and listen.

Now, once you have all the research and are aware of how the conversations take place, is the time to get your hands dirty.  It’s time to create your own masterpiece and dive into the conversation.

Make sure your information is engaging, challenging and stimulating, continue to listen and join in conversations on other blogs, and you’ll be on your way.

Next, I’ll talk about designing your strategy and target market.

Are you still using traditional marketing tools to generate prospects on your web site? Well the world is changing as far as web marketing goes and you need to make sure that the strategies in place in your office keep up with the changing trends and web savvy consumers. There is no problem in getting leads from your web presence, the big problem that you will face is converting those leads to business. In Australia approx 30% of all email leads generated by the 2 major portals go unanswered, that is , no response at all from the agents who receive them. The other factor is agents who receive leads from consumers with false names, incomplete email addresses etc and those who really don’t want to do business for the next 12 months or so. 

So using traditional thinking with these prospects is doomed to fail, traditional thinking dictates that we ”do business right away” and generally someone considering selling or buying in the next 6 to 12 months is classed as a poor lead or a tyre kicker.

The psychology of Web marketing is entirely different. The typical Web buyer or seller begins the home-search process up to 12 to 18 months prior to moving. The major portals research also indicates that over 39% of their traffic spends up to 9 to 12 months researching properties and constantly revisits the sites looking for and researching properties. The same can be said for the seller, up to 33% of all visitors to real estate portals are vendors looking to find an agent to market their property. So to cope with this situation, you must have a system to stay in touch on a regular basis or to motivate them to visit your Web site or blog repeatedly.

Using web 2.0, agents can now use the tools to communicate better or more effectively with these consumers and constantly be top of mind, so when the decision to buy or sell is made, you are the agent of choice. Email campaigns have being hampered by the large amount of spam mail over the past few years and have very quickly lost there effectiveness to the new web savvy consumer, who really wants to and does use the social networking sites as a form of communication. Whatever solution you come up with it, it is most important that you stay in front of your target market on a consistent basis.   

So what are those tools?

1. Blogging – This allows agents to provide additional information and post updates on their market. Set up a blog that reflects your area and constantly work that blog, advertise it in all your marketing as well as maximise your readership via RSS feeds. Syndicate your blog to other sites that help drive traffic to your blog.

2. Podcasting – Deliver your message in the recorded format and allow consumers to download information on a regular basis. Create a series of interesting podcasts, based on information that vendors, consumers and landlords or tenants will find useful. This week alone, my podcasts have been downloaded over 210 times.

3. Video Profiles – This includes your office and properties. Upload to youtube,realestate.com.au,domain.com.au and your own web site and actively market these in your listing presentations. Read my earlier post about video and it’s impact on perceived property values. http://mikeandrewrealestate.wordpress.com/2008/10/16/property-videos-increase-percieved-property-value/

4. Use the social networking sites such Facebook and myspace to market yourself. Create user groups and invite people or your customers to join your group. You can even market to employer groups via these sites.

Those are just a few thought starters for you, if you would like to know more about these ideas, then come along to the Domain Power Breakfasts in Qld, tomorrow at Toowoomba, Wednesday Maroochydore on the Sunsine Coast and Bundaberg next Wednesday. I’ll be presenting all these ideas and discussing how you can really use web 2.0 to it’s fullest extent.

Another great idea is to include something that will keep your readers coming back to your blog or web site, so lets try this experiment. Have fun with this link, this game is Iphone compatible and I’m sure, like me, you’ll have a lot of fun with it.

http://www.psychicchicken.com/

If you would like additional information on anything included in this post, send me a comment or better still come and see me live at the breakfasts over the next few weeks. Information is listed below for you.   

http://mikeandrewrealestate.wordpress.com/2008/10/17/domaincomau-power-breakfast-location/

Just thought I’d advise you of the forthcoming breakfast sessions that Domain.com.au are putting on for clients in the next few weeks, with myself as presenter. I’ll be covering the latest information on the internet as well as covering topics such On Line Reputation Management, Blogging, Vlogging and Podcasting and how you can make these tools work for you on line, as well as looking at why you should implement an on line marketing strategy for your office that covers the next 2 years.

Here’s some of the topics I’ll cover,”How would you like to dominate Google in your area?” Like to know more? Like to learn how to do this for free? 

Like to know how to make your properties perform better on line without having to buy product?

Like to know what Impact the Iphone will have on the real estate search?

Like to know what the future holds and where the current trends are heading?

Well here are the dates below, let me know if you would like to attend. I’ll post the venues for you shortly once they are confirmed.

Tuesday 21st October Toowoomba

Wednesday 22nd October Maroochydore Sunshine Coast

Wednesday 29th October Bundaberg

Wednesday November 12th Perth WA

In writing this blog, I test out new syndication sites so that I can show you in my training presentations, the tools to distribute your blog or podcast and I’m always on the hunt for new sites to add my blog or podcast. Well this is just to let you know that my series of podcasts has now been added to podcastblaster.com and you can get them by clicking on the link below:

http://www.podcastblaster.com/directory/podcast-49183.html