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Why We Should Rename It SMP (Social Media Prospecting)

I asked if SMM were dead as a precursor to our session with the Phoenix Association of REALTORs.   A few of y’all mentioned that social media was helpful as a lead generation tool.  I suggested this yesterday and  I want to be perfectly clear about the utility of social sites as lead generation pools.

Serially creating overly commercial, spammy messages on your Facebook status bar is never going to be effective.  Kelley Koelher once said in my Unchained session that you’re supposed to be SOCIAL on social media.

I don’t disagree.  I often liken your behavior on social media like a party, wedding, or community event.  If you showed up to cousin Fred’s wedding and handed out your business card, you should be tossed out on your ear.  If  bride Wilma’s sister asks you “What’s the market doing ?”, it makes sense for you to get her number and reconnect with her a week later.

Now, more than ever, prospecting is paramount to success as a REALTOR.  Consider this video of Gary Keller and Jay Papasan, discussing the shift from marketing to prospecting.

Here are my takeaways:

  1. the 8 X 8 is about cementing a relationship.  These can be phone calls, interactive comments on social media sites, e-mails, and postcards.  I think 3-4 different forms of media touches hardens the relationship cement quickly
  2. the 33 touch is about saturation.  I can’t stress enough that you must have permission to continue this saturation strategy on a prospective client
  3. The monthly newsletter is a non-threatening way to buy brain cells.  My yellow postcard might only be read for the 8 seconds it takes to go from the mailbox to the wastepaper basket but it does get read.  I get calls from it.
  4. The principles of direct marketing are more important now than ever. This means that you should ask people questions…directly (eg- do you know any teachers looking to buy their first home?)

How do social media play into this strategy? Here’s a Facebook tactic:

  1. Call everyone on your “friends list”
  2. Ask them who their REALTOR is in (your town)
  3. If they have one, politely move on.  If they don’t, ask if you can adopt them.  If they don’t live in (your town), inform them that you know they’ll refer someone to you one day and want to be know as their (your town) REALTOR
  4. Look at their “friends” list for someone whom you find interesting; ask for an introduction

Does that sound creepy? Well, that’s sales, folks.  Lead generation is the MOST important part of your job.  Keller and Papasan suggest that 3 hours of your day be dedicated to lead generation daily.  Can you imagine how supercharged your business would be if you took their advice and optimized the social media contacts you spent years developing?

Related posts:
  • Thinking About This Whole Social Media Thing As a ‘Non Expert’
  • Prospecting Your Way To Prosperity With Social Media
  • Referral Prospecting The Facebook Way

  • 7 comments

    7 Comments so far

    1. Eric Bramlett September 12th, 2009 11:47 pm

      Hold on a second…you mean we’re actually in sales? I thought we were supposed to blog/tweet/facebook and wait for money to drop into our laps!?!?

      I didn’t sign up for this s**t!!! I got into real estate to blog, man!!!

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    3. Robert Worthington September 13th, 2009 9:19 am

      Eric Bramlett, nicely said. Gary Keller is more knowledgeable than me however my focus is still prospecting no matter what the market. From watching the video, I could balance out my business better. However different things work for different people

    4. Greg Dallaire September 13th, 2009 9:23 am

      Eric man you crack me up!

      We are lead generator’s first, real estate consultant’s second. Bottom line. I hate peaks and valley’s in my years and won’t settle for it. Once I started prospecting on a conistent basis I have very minimal shifts in business.

      I remember being apart of a mastermind group and they said from a mathematical standpoint to make $250,000 per year you needed 3000 contacts in your database and then following similiar Gary Keller type advice about the touches and so on.

      So I need 12,000 contacts to make 1 million buckaroo’s :)

      To bad it’s not that simple it’s about constant communication.

    5. Brian Brady September 13th, 2009 11:59 am

      “Too bad it’s not that simple”

      I think it IS that simple- it’s just not easy

    6. Genuine Chris Johnosn September 14th, 2009 2:06 pm

      ahem. That is what I’m doing at http://agenttechsecrets.com And, yes, it’s all fundamental stuff. Blocking and tackling, belly to belly.

      more on that in a bit when I’m sufficiently caught up.

    7. Ken Jansen September 14th, 2009 6:12 pm

      Great article. I especially like the idea of the 8×8 and 3 touch program to be broadened to include at least 3-4 types of media. Wonderful idea. I know some top producing agents are doing their 8×8 in 16 days instead of 8 weeks.

      Thanks. Ken