BiggerPockets

Try out flock.com

It's a browser that combines alot of the social media sites all in one place, as well as blogging. Main thing is to build relationships and give value. I think I'll do a post regarding this on the BP blog.

I still don't understand how to use social media as a source for leads without making it a second job.

You can have everything in one place including target networks. It could be a geography or subject.

You can use a blog as your central hub with facebook, twitter, youtube, myspace feeding from it. Twitter has some tools to allow you to find people that are interested in your topic or geography.

Your detailed informaiton can be in your blog that automatically populates facebook for example. Adding value with great content and as people learn to trust and love you they will start to see what you are doing.

Your links on the blog can be sitting there for them to click on.

James,

I know how you feel and it is the way I felt until I studied the subject from some strong internet marketers.

The goal is to build on-line relationships by adding value to help others. It takes time to build trust. It is not as simple as "conversion rate", The conversion rate will be directly proportional to the number of poeple in your network and the value of information you are providing.

Your properties can be discussed, your blog can be about certain part of real estate you love. If it is wholesaling for instance you can help others learn about what it is, how to get started, how to get funding, etc. This adds value that people will be interested in. They will want to explore your blog, sign up on your opt in list. Click links that your homes are for sale on, etc. They need to like you first.

This is why it is called social media. Hope that helps.

James,

Opt-in is very important. You know that people that opt-in want to receive e-mails from you. You can use an autoresponder like "aweber" that will collect email address of people that are interested in talking and staying in touch with you. This way you are not spamming people with information that they are not asking for. You can use this list to build relationship by adding value and every once in a while send a link to an offer you have to sell.

The ratio will be based on the direct credibility you build with your list. The pros see great ratio's in the 20-30% range others do not see that high. It also depends on what your selling and how much it costs.

A great marketing wizard to follow is Mike Dillard. I have learned a LOT from Mike. He will go into the science of social media marketing.

My interest here is to see how many people are using it and what kind of success they are having. My list is a few thousand now.

Start one and it will be a great asset to you in the future.

Dan

Angela, Great to hear that this medium is working for you. It is wonderful to see that RE has a great way of using social media.

We use it too with success on our bulk program.

Josh, great point the very purpose of BP. Social media is bringing many together with blogs, forums, twitter, facebook and other tools.

You have conencted many here on BP and we thank you for all your efforts!

Nothing but the facts folks!

anyone care to provide case study numbers of the ROI on Social Media Marketing and/or SEO?

Say vs spending the same amount of time finding smoking hot deals and creating great value for others to invest in?

If anyone actually has the numbers I will be curious to see what hourly rate you put on your own time learning and/or executing your online strategy.

with conversion rates of .005 to .04% from online marketing how can it compete by getting face to face with sellers and buyers, when conversion rates can exceed 50%?

You want to find leads online? don't waste your uncompensated time, test your strategies with Google Adwords and you will have feedback within hours at a total cost far less than SEO and Social Networking, trust me I have been doing this since 2003.

So Tiger, how many deals have you developed from using this social media networking?

Your outline reads like an "anticipated" plan, not an in effect plan.

I can understand the comfort of sitting safely at your computer vs meeting folks face to face, but eventually to make any money in re investment you are most likely going to have to at least speak with someone on the phone or meet them face to face.

Until you can close face to face, I find it difficult to believe that you are going to have any significant success doing so by building a tenuous online relationship.

Online marketing can be an illusion for people that usually ends up soaking up tons of time and effort trying to understand and master an ever changing and very stimulating field. It is full of folks offering the "new new" method of making money (usually for the product developer only) continuously pulling inexperienced folks around the next corner.

RE is pretty much a "local" deal, sure some folks invest across the country, but a significant percentage of folks doing SF and small multifamily deals are going to be living nearby or doing enough deals to be local in knowledge.

For me, don't waste your time trying to find folks on facebook, twitter etc. Get out and meet folks in the local markets you are interested in build your face to face experience and if you want to develop online for buyers test PPC and develop a great local area knowledge with some "offers" for fixer uppers, distress properties and low down payment financing.