A short talk about shifting real estate marketing away from expensive traditional ads (TV, radio, direct mail) toward leveraging online reviews and social proof. The speaker emphasizes focusing on existing clients (listing/buyer clients) to generate leads organically and notes declining ROI from mass-media advertising.
She pulls out her phone, gestures to me to pull out my phone, and all of a sudden I'm leaving a five star review for this business. The net takeaway was that that was awesome. And she said, the owners let us know that what they've been doing in the past, they've been spending money on. And they even were doing tv, radio and direct mailing around their physical location. The return on all those things has gone down dramatically. And what they were finding is that people were going online and leaving them glowing reviews because they were running an awesome business. The whole social proof aspect of their business had exploded to the point where they were out of those expensive lower ROI things they were doing the mass media, the tv, the radio, the direct mail to strangers. I took that experience as I'm going to go deep on this. I instantly knew this was going to become a big part of our business because everyone in real estate is looking for like, where can I spend the next dollar? What can I do in my business to generate another lead? Oftentimes we're not looking at the person right in front of me, the person that I'm giving up evenings and weekends for, and the person that I would do anything for. A listing client or a buyer client.
