Grow Your Social Media Presence. Grow Your Business.Right now, you’re probably on social media for fun, entertainment and keeping up with business contacts. But now more than ever, the right use of social media is essential for every mortgage professional. Social media is important for anyone who wants to grow their business or simply strengthen existing client relationships.
Start With The Basics: What Is Social MediaSocial media is any digital platform, like a website or an app, that is public or semi-public and provides the ability for people to create and share content. It’s a type of communication that is back and forth, not one-sided. When you use social media, you’re participating in real interaction between you and your potential and existing clients.
Social Media Isn’t A New PhenomenonLinkedIn and Facebook were launched 16 and 15 years ago, respectively. But keep your eyes on updates because social media evolves every day with newer apps, like Snapchat and Instagram, along with new features within existing platforms. A great example of this is Facebook and the latest apps they frequently promote.
What You Need To Know About Social Media When creating a social media strategy for your business, remember there are costs involved for creating, curating, posting and promoting content. But social media is also scalable and it reaches a majority of the population. For example, close to 70% of the U.S. population uses Facebook.
It’s also important to remember that your audience views content in real time. For your business, that means you can push out content and get an instant reaction.
Reach Your Clients Where They AreSocial media is where people spend a majority of their time, gathering news and information and sharing photos and posts. Your prospective and existing clients most likely spend a lot of their time consuming content on Facebook, Instagram and Twitter.
For example, Facebook is one of the most popular platforms, with more than half of all users visiting the site several times a day.
Source: Pew Research Center
Source: Pew Research Center
Despite the wide variety of platforms out there, most people will narrow down their social media choices and use only one to two different platforms frequently.
Know Where To Promote Your BusinessNow that you know the social media basics, the next step is deciding where you want to be to stay relevant.
Don’t overdo it. Choose the platforms you use wisely by thinking about your audience and which sites they are likely to be using. Creating content for many different accounts can be costly and time consuming. Instead, we recommend focusing most of your efforts on the big three: Facebook, Twitter and LinkedIn. You should use Facebook and Twitter for your business-to-consumer marketing, building your client base. For business-to-business marketing, it’s a good idea to utilize LinkedIn. Remember, you want to post content that assists and educates your clients.
Even though it’s not necessary to be active on all social media platforms, it’s still important to own your own accounts. This includes Instagram and Snapchat. When you maintain control of these accounts, you prevent competitors and other users from taking your business name. Even if you never post on these platforms, you still control them.
Listen Up! It Pays OffRemember, social media isn’t one-way communication. It’s a constant interaction of liking, sharing and, sometimes, complaining.
Did you know 81% of 25 – 34 year olds have complained on social media? Another interesting fact: 42% of social media complaints expect a reply. If you respond (which we highly recommend), you can expect a 20% boost in advocacy, which generates more revenue and business. If you don’t respond, expect a 43% decline in advocacy.
When you post on social media, you will receive positive and negative feedback. Respond and react. Ignoring user feedback can be counterproductive. The faster you respond, the better the outcome. Most people are expecting a response between 30 minutes to an hour.
Maintain Your ReputationAn important part of your social media strategy should include reputation management. It’s an organized effort to control how your business is perceived online. Here’s how to do it effectively: Focus on monitoring reviews through Google, Zillow, Yelp, Facebook and, of course, your own social media accounts. Are you getting numerous positive reviews each month, like compliments on your turn times and fast closing dates? Make sure to post, or repost, these great reviews on your social media accounts and on your website.
Ask your clients to post reviews and don’t forget to respond to them. A thank you message goes a long way – your clients like to be acknowledged. The same goes for negative feedback. If you receive a negative review, respond with something like: “We appreciate your feedback. Please message us immediately and we can take care of it.” If possible, make sure a team member is available to monitor your positive and negative feedback in order to respond quickly.
How To Create A Social Media CampaignFirst, establish your objectives. Do you want to build brand awareness? Grow your reach? Add more video views? Increase conversion? The right social media campaign can achieve any of these. Just choose the one you want to focus on.
An easy way to add impact to your social media campaign is to include video content. QLMS makes it easy because our sister company, Waymark, can create custom videos for you to promote your business.
Other important things to remember when creating a social media campaign:
- Identify your audience.
- Know your budget.
- Visit Marketing Hub on the QLMS portal to take a deeper dive into social media, including a step-by-step guide to creating your own Facebook posts.
- Follow QLMS on for more helpful information.
Discover The Advantages Of RetargetingWant to capture more clients who are already interested in your business? Retargeting is a smart marketing choice. It’s online advertising that’s targeted toward people who have already interacted with your website. Using retargeting can make your website visitors 400% more likely to become your clients. Implementing this kind of advertising is simple, but it can prove very effective. We recommend adding pixel tracking to your website, too. It allows you to easily keep track of your website’s visitors. You can learn more about pixel tracking with the Facebook Ads Help Center. Need more help with retargeting? You can partner with a trusted company like SocialProof to provide cost-effective strategies.
We’re in the midst of a digital revolution, and successful mortgage brokers and loan officers know how important social media can be for their business. By using these proven social media best practices, you can generate new leads without breaking your budget. Have you used social media to boost your business? Comment below and tell us your success story!