My Social Media Report Card

by CoyDavidson on December 7, 2009

report-cardThis past weekend while visiting with my sixteen year old daughter we happened upon the subject of her grades. I am proud to report she is still a straight “A” student while taking honors classes and is ranked in the top five percent of her class. We all know the “report card” is how we measure performance in our education system.

I embarked on a full commitment to integrate “social media” into my commercial real estate practice about 90 days ago and it is time for my first report card.

Course #1: My Blog

My first blog post was on September 6th 2009 and to date I posted 42 entries, an average of around 14 per month. I have had 11,026 visits to my blog page with 19,551 page views. I have received only 3 comments to my articles posted on my blog.

I have received for the most part excellent feedback from clients and colleagues that are visiting my blog.

Grade: A-

Course #2: Twitter

My tweets are almost exclusively business related typically with a link to an article related to business, commercial real estate or social media. Occasionally, I will tweet something related to my personal interests but not often.

To date, I am following 1,886 accounts. I am followed by 1,929 and have been acknowledged by 59 tweople on twitter lists. I try to follow everyone who follows me, with exception of spammers or people promoting MLM or Network Marketing opportunities.

I have developed some rewarding-on line relationships with individuals engaged through Twitter ranging from colleagues in my company from other office locations around the country to people in Houston and all over the world outside the commercial real estate industry.

Grade: B+

Course #3: Facebook

I have had a personal facebook account for about a year and a half, and I use it quite often to communicate with friends. However, my facebook business page has proved more challenging. To date, I have 33 fans on my facebook fan page. Among those 33 fans, 19 of them are crossovers from my personal facebook account, and while a few of them are potentially candidates for my real estate services or referral sources, some of them are just fans because they are personal friends.

My facebook fan page seems to have the least traffic and level of engagement of all my social media sites. I have much room for improvement here.

My Facebook Fan Page

Grade: C

Course #4: LinkedIn

Linkedin the most “business accepted” of all my social sites has 234 connections. I believe I have done a better than average job with my profile with the tools and applications LinkedIn offers. I have joined numerous groups and have posted new stories in the various group sites. I am not as consistent with posting information and engaging people as I am with Twitter. My sense is I get fairly consistent traffic to my blog site from my Linkedin account

My LinkedIn Profile

Grade: B

The point of my post here is really the all important question “What is my ROI?” I am unable to account for any new business as a direct result of my social media efforts. There have been a couple of referral opportunities from social media engagement that have not panned out. I am not discouraged by this fact, as I expect the social media efforts to take time to convert into actual sales and understand it is difficult to measure the impact social media has on ongoing business relationships and community that are developing. The real estate business is a highly relationship driven industry and social media perfectly compliments creating new and enhancing existing relationships. My sense is my social media efforts is increasing the exposure of my “personal brand” and to some extent my company, which is already an established brand.

One of the primary goals of my social media efforts was to provide on-going value to my existing client based by providing relevant information in regards to commercial real estate to assist them in managing their business. My opinion is that if I am able to achieve nothing more than that, then my social media efforts have been a success. I will admit I have lofty goals, to be the most influential commercial real estate broker in social media or as Gary Vanerchuk would say “Crush It”.  All in all, I guess not a bad start.

Now it is your turn, what grades would you give me?  Also, I welcome your comments and suggestions on how I can improve my grades.

  • Coy hi and thanks for this. Since we met on Twitter, I have been watching your full immersion program with interest (I had done something similar 18 months ago when I stopped running NAI Global Solutions).

    I would grade you higher: you are doing very well! And remember it’s all relative to what your competitors are doing (which is not as much or as well yet but you’ll have a headstart in “crushing them”). I would not sweat it about the ROI of social media. Think about what the cost will be for the tenant reps not doing it. Are people also asking: “well what’s the ROI of the telephone or email?”

    A lot has happened recently. The questions is mainly hear are:

    1. Industry leaders are joining the wagon, what are my peers doing and why?
    2. Where are the pitfalls and how do I avoid mistakes?
    3. What are the best sites given that many companies are blocking social networks to decrease reputation risk and productivity loss?
    4. Who is talking about me/us and what are they saying?
    5. What can I learn about my competitors strengths and weaknesses that will help me get market share from them?
    6. What can I find out about what makes clients or prospects tick?
    7. How do I find the true influencers and focus my efforts? (that’s a big deal as you are trying to evaluate what next)
    8. How do I convert my social media marketing efforts into tangible results?
    9. How do I cohesively tie different social media efforts of my friends and fans together?
    10.What do you know that we should?

    Hope asking yourself these questions may be of some help to you. BTW we are planning a call to compare notes about that among peers (CBRE, Real Capital Analytics etc) Thursday Dec 17th, let me know if interested and I’ll send you an invite.

    Best, JC Goldenstein
    Founder http://www.CREOpoint.com
    The exclusive online meeting point
    for CRE leaders worldwide

    PS: now since you are a CREOpoint member, my turn to ask for feedback: how do you think we are doing, would you recommend us and what would you improve?

  • Coy:
    I have just litterally begun to investigate Social Media as a source and resource for my business. I am an old dog that must learn new tricks.

    You have really jumped into this! I am really impressed! What have you experienced and found to work best ?

    Continued success.

    –Jackson

  • CoyDavidson

    Jackson, I have found the blog has been the most effective tool and twitter is a great tool for driving traffic to your Blog

  • I think you’ve done a fabulous job. Your blog stats for 90 days is very good. Diving into new media the way you did shows a “no fear” attitude.

    Congrats!

  • CoyDavidson

    Thanks Jennifer…I appreciate the kind words…I am pleased with the Blog stats!

  • Duke Long

    Coy,
    I would be very interested in your report card in comparison to ,let’s say the top 50 Agents/Brokers in your market. Are you on the SM edge?Do they think SM is worthless?Thoughts?

  • CoyDavidson

    Duke: in response to your comment, I know of very few, much less the top 50 commercial agents in my market active in the social media arena, Unless, you count slapping up a profile on LinkedIn being active in Social Media.

    LinkedIn is a business accepted social media platform, so there is little trepidation with Linkedin. The CRE industry is very much “old school” as my sixteen your old daughter would say.

    We are at the point where most companies and CRE brokers are aware of social media, and they are beginning to wonder if they should tip their toes in the water. But even then, that likely means they are getting on Twitter and Facebook, without any idea how to use either tool, or if they should be using these tools. They just know those are the sites everyone is buzzing about, so they get on both, then a month later ask ‘Ok so what should be happening here?’ or if they don’t see any immediate ROI, they will abandon it.

    I know how brokers think, when their clients start showing up on social media, the brokerage community will flock to these sites in mass like they are paying bonus commissions. I have taken the approach of dragging my clients to me on social media. Just in the last couple of months I see at an increasing pace, the companies we do business with show up on social media. I think initially the opinion of Social Media by brokers was “worthless” that has now shifted to “intrigued”

    I am betting on this. The companies we do business with are coming and by the time the majority of the CRE brokerage industry figures it out, they will be looking at my tail lights way off in the distance.

    Even in my own office, the sentiment has shifted from my colleagues cracking jokes about me tweeting, to coming in my office and starting to ask questions about my blog and twitter. I predict it’s only a matter of time before they will be coming into my office asking me to help them get started.

  • Bravo! CRE is a conservative business and the use case needs to be clear before players will jump in.

    Having made the jump from nearly 9 years with The CoStar Group to working with a Social Media monitoring and engagement service, I’ve been given an opportunity to get a front row seat to many businesses as they begin to grasp the value of social media. In bottom line terms:
    Social Media lets you reach prospects in a place of their choosing and on their terms. If you are willing to play by the rules of the customer then they want to hear you tell your story.
    Also, your customer is already trying to tell you what they want and how to sell them. If you think there is a strategic advantage to knowing what the customer thinks then you need to engage.

    It’s great to run across your blog. You’ve got a new follower.

    George Nixon
    Scout Labs

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