Social Network Advertising
eMarketer predicts that in 2007 advertisers will spend $900 billion on social network advertising. As a real estate professional witnessing an explosion in social network sites (e.g., Active Rain, TruliaVoices) aimed at agents (and consumers), what are some first steps to engage this form of real estate marketing?
Step 1: Just understanding it. In this regard experience is the best instructor. Start by creating a LinkedIn profile and then get immersed in Active Rain or Trulia Voices, as voyeurs or members. These venues offer rich playing grounds.
Step 2: Find a blogger who’s singular passion is dissecting the process. As an emerging medium, early adopters keep the bog well-irrigated with creative ideas, foutainhead-like musings, and general full-throttled reasearch. Martin Reed does a great job at this. Of particular usefulness to understanding core concepts are his posts on basic concepts and resources and his monthly top posts page (valuable given it’s stream-of-consciousness threads). Another great resource is Matthew Sherborne. Follow his twitter marketing campaign journey to gain a blow-by-blow analysis and learn from the way he parses the process. Finally, Tranparent Real Estate has very cogently and concisely explained Web 2.0, and its relevancy to real estate professionals. The first post details the core concepts; the second post argues, in part, that social networks will fuel a collective intelligence that will apply pressure on professions to justify the value of their expertise.