The Value of Twitter for #CRE

by CoyDavidson on November 9, 2013

The Tenant Advisor on Twitter

4.5 years ago when I joined this thing called Twitter, I thought it was a stupid service. Eventually I got it, and today have over 17 thousand followers and no single tool has created more visibility for my personal brand than TWTR,  once widely regarded as a fad and now a publicly traded company on the NYSE.

This past Thursday night I attended a charity gala event, this was the same day as the Twitter IPO, and as you can expect there was plenty of coverage in the media that today. The conversation at our table turned to Twitter. Do any of you use Twitter someone asked? Well of course I piped in; “I do, in fact, I have over 17,000 followers and other than my blog it probably is my most important marketing tool.

One of of our young associates, who attended the charity event with me replies; “Holy smokes, you have seventeen thousand Twitter followers!” as he reaches for his smart phone to find and follow me. I chime in, “well dude, I have seen my referrals at least double from our colleagues around the country, and you know why, most of them know me from my perceived prolific tweeting about commercial real estate.”

twitter

So today I stumbled upon an article in Time Magazine, actually someone I follow tweeted it, and the point of the article was to describe a tool to determine the value of your Twitter stream. So using this tool it calculated the value of my stream as $11,321. So make what you want of the methodology, but in my opinion it is in excess of $100,000, just based on the referrals I have received from colleagues and some direct clients who discovered me on Twitter. You see, Twitter is a tremendous visibility tool, as well as an excellent news source. Twitter drives a tremendous amount of people to this blog, several hundred per month in fact, which builds credibility.

 

So is Twitter the ultimate social media tool for commercial real estate professionals? Many would argue that LinkedIn is, but like any marketing tool, the value will be impacted by how much time and effort you put into it. Some commercial real estate professionals will never use Twitter, in fact most don’t, but the the number of CRE professionals and business professionals in general is growing. I just know for me it’s been damn valuable. How much exactly? Well that’s hard to say, but enough to make it worth the time I spend with it, which by the way is much less than you think.

  • abuchanan

    I am happy you posted this Coy! I too have found great value using Twitter…largely after our talk in July and my “ramped up” efforts to use the service. I would love to know “how” you built your tribe of followers to such an impressive level? I’ve heard a lot written about “quality” vs “quantity” of followers…probably written by someone with few followers. Hope you are enjoying fall in Texas!

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