My Social Media ROI

by CoyDavidson on March 24, 2010

Commercial real estate brokers are not just marketers and salespeople; it is just one of our critical roles because without clients there are no transactions. However, unlike some salespeople in other industries once we are able to attain a new client, then we are typically the ones that are actually delivering the service.

Some brokers are natural rainmakers at one end of the spectrum and great deliverers of service at the other end. Most of us fall somewhere in between. Balancing the equation of time spent on developing new business, managing clients and actually delivering services (executing transactions) is an on-going challenge.

Enter Social Media

All this talk about the ROI from Social Media, here are my metrics:

New Business Development

  • Are you meeting new people who are potential candidates for your services in the Social Media space?
  • Are some of those new connections from Social Media converting into “face to face” meetings?
  • Are you meeting new people in the social media space who may not be candidates for your services but trust you enough that they are willing to market your personal brand for you? (Referral agents)
  • Are you meeting people face-to-face that are candidates for your services where the introduction was initiated by your referral agents?

Client Relationship Management

  • Are your existing clients consuming your content via your blog or various social media tools?
  • Has communication increased between you and your existing clients?
  • Are your existing clients marketing your personal brand for you?
  • Are your clients asking if you can provide additional services?

Branding

  • Have you raised the profile of your personal brand, i.e. do more people know what you do professionally?
  • Are you being asked to speak at professional events?
  • Are you being interviewed by business publications?
  • Is your content being published in other places?

I can honestly answer yes to all these questions and it has taken several months of diligent effort to get there. I realize all of these objectives can be achieved through historically more traditional methods. We have all been networking, entertaining clients and occasionally writing articles for industry publications for years. I still advocate picking up the phone, client lunches, golf outings and being involved in the business community.

I am personally not one of those natural rainmakers, but I have built a career on referrals through trust, my ability to understand what my clients wants to accomplish and the skill to execute the transactions that meets those objectives. That is my personal brand, not the easiest message to deliver. How do you deliver that message at a cocktail party or with a cold call?

I find Social Media be an incredibly efficient platform to not only deliver that message but find others willing to do so. In fact it’s even more effective when someone else does!

  • Coy,
    Thanks for writing about social media and the benefits. Varoomit’s concept for Commercial Real Estate is around the social media aspects of listing properties and MARKETING yourself through social media.
    The concept works as you are proving and we need to teach others how to do this.
    Regards,
    Robert White

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