I have a question targeted towards investors utilizing social media marketing. Does your online presence actually bring you motivated seller leads? As opposed to, for example, direct mail marketing or bandit signs. I'm in the Western Massachusetts market and I've been really trying to step my game up when it comes to my companies online presence. How much has social media impacted your wholesaling/rehabbing/rental investment business? Looking forward to hearing your thoughts!
I cant see that social media has helped me at all, if anything it hurts me. On the property mgmt side it allows tenants to post hateful things when you evict them. I recently deleted every random connection I made over the past several years. Most everyone is trying to sell something. I would invest in a good site.
@Claire Hebb Great Post topic... I don't think I utilize social media enough for my REI.
Every podcast/ expert investor on here will tell you to 'tell everyone you know what your doing' and I would say posting to social media is a great way to do that.
NO. Social media is in NO WAY a replacement for paid media, such as AdWords, direct mail, or signs/billboards.
Facebook, YouTube, and Twitter advertising are not good buys for us, because people that click on ads in social media do NOT convert, so the ROI is terrible.
Can it help your business, help you make connections and share information? Sure. But that's what social media does. It does not generate motivated seller leads.
@Claire Hebb I do not think social media will actually generate leads. I do think though it is important to maintain a social media presence just for the sake of having a professional appearence.
I would not spend money advertising on social media if that is what your asking.
There is some value in being active on Facebook groups that are made up of people in the community.
Originally posted by @Melvon Everett:
Facebook is a gold mine for me!
Do you mean Facebook Paid Advertising or posting around in Facebook. I think many people don't associate social media with paid advertising.
Their paid advertising (display ads) SUCK for our business. People CLICK on your ads out of curiosity (while reading a post about their sister's new CAT). After clicking on your ad and going to your landing page, they abandon because they have no real interest or motivation to convert. FB display is TERRIBLE for our business.
Posting on FB is fine and sure you can benefit from that but posting "I will buy your house for cash" on FB is no better than going outside right now and screaming it in the parking lot. A few people will see that and no one will care.
Social media - paid or free use of it - is not the place to concentrate your efforts if your problem is LEADS. For leads, your need things like AdWords (Google Search), where people are actually searching for this solution.
@Dev Horn Love the point about the cat. People who are on FB are typically wasting time. Seriously.... That's the point of it. Do you really care what that one chick from college ate for lunch yesterday?
Be fruitful. Don't waste your time.
It seems like it's a case by case basis.. maybe depending on the frequency or the market you are in. I find that social media is vital for an accreditation stand point and having a social present. I believe that money will follow attention one way or not.
@Dev Horn I'm really curious about this - I've definitely heard the same regarding FB paid in this space.
Since FB clicks can be orders of magnitude cheaper than AdWords, especially in the real estate world, It seems to me the primary problem is where the potential seller is in the selling cycle - very early on.
Because of this, the traditional click the ad -> hit a lead gen page seems like a bad fit. But perhaps a more content-oriented approach would work? Something that's set up to empty the traffic into a multi-step educational sales funnel.
I've been brainstorming about this kind of thing for a while, but haven't tested it in any way - just some random thoughts.
@Claire Hebb , I have not found that social media marketing has generated any leads for our business, BUT I do think it is a great compliment to your online presence. Re-posting blogs, youtube videos, and other items helps support your webpage presence and credibility. I look at it as I want everything to drive traffic to my website and have a motivated seller call, email, or fill in the form.
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!