Thursday, June 11, 2015

Millennials & Social Media




If you are a REALTOR® hoping to capitalize on the emerging Millennial buying demographic, it is crucial to understand the wants, needs, and desires of your potential client.

Our generation was the catalyst for every social media outlet that is now used by every age group in America, and no matter what traits pundits would like to label on the Millennials, their own information is transported with a wider reach and on an exponentially faster scale than ever before.

The key to understanding social media is this: It is a medium… Not a product.

Much like any other marketing strategy that has been used by agents since the beginning of our industry –  such as bus bench signs, direct mail, or cold calling – your brand on Social Media will not create rapport with everyone, and you cannot expect it to do so. Treat social media as you would any other marketing campaign: Create a brand, find a target audience, and then execute.

The key to maximizing its potential is to understand what the Millennial wants out of a Business on Social Media. Keep in mind that Social Media is entirely intended to facilitate a conversation between individuals – not to be utilized as an advertising mechanism; however, our business is local, and if you proceed with genuine interest in communicating, your efforts can be successful.

In a recent post on Social Media Today, Nathan Mendenhall writes that in a recent poll of Millennials, the reason they follow brands on social media are:

57% wanted competitions and freebies
39% wanted product recommendations
30% wanted entertaining media
15% wanted overall fun conversation

If you put your mind to work, I bet you can think of a competition that your target audience would like to participate in…  You can probably also think of a few dozen local businesses that you could recommend, or even partner with, that could help start your conversation.

Whatever you choose, make it about yourself. Disingenuous marketing is a fail safe way to not create new relationships with Millennials. It is about communication that goes both ways, so remember, it’s not just about your ability to sell; it’s about your ability to listen.

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