Social media seems to be the new buzzword for commerce of all varieties these days. Big and small businesses are seeing the power of reaching out virally through social networking platforms. Consumers, especially those in the Gen X and Y sector, are seeking advice and information from these resources before making their purchasing decisions. If you aren't online, in a variety of ways, you may not be considered of value.
How does social media apply to mortgage professionals and will it really put loans into your pipeline? You have to decide for yourself where the best use of your time is, but these points may help you with where you spend your marketing time in this virtual world we all now occupy.
It's still marketing. Getting your name out to a variety of people in a variety of ways is always a positive thing to do. Whether you Twitter, Facebook, blog or all of the above, you are moving your business forward. There are also connecting sites such as LinkedIn and Plaxo. Ask around to other professionals in your circle and see where they are spending their social networking time.
There, of course, is a certain population that will connect with you in these areas that might not have in any other way. This is why social media marketing is so important. The reverse is also true, there are still some people that don't Twitter, Facebook and read blogs. And many of those never will or will only do it on a limited basis. Which leads me to my next point.
Don't let social media dominate your marketing. As great as the Internet is, people still need to feel a connection with you, the person. Get away from your computer on a regular basis and work on strengthening those individual relationships. Each week you should be taking at least one Realtor to lunch, dropping in with value-added information and connecting over the phone.
Don't forget that people still want to do business with people. I remember back in 1997 being told by numerous sources that all loans would be done over the Internet within five years. This didn't happen because of that relationship factor. Your face-to-face and phone-to-phone time is invaluable to your business.
If you do it, do it right. The reason I waited so long to start Facebooking and Tweeting is that I didn't understand it. I still don't fully, but I search out people more knowledgeable than me and ask questions. I read and listen to others that are experienced. I'm also playing around with the systems and settings looking for what works best. I have a long ways to go but I am moving forward.
On the other hand, I've been blogging for three and a half years and feel very comfortable with that format, yet I still work to tweak and improve how I reach out to others. I truly want to create a network through my online presence and will continue to step up my efforts to connect with all of you through social media.
Social networking doesn't have to be time-consuming. Set aside 15-30 minutes each day to work on your social media sites. After a while, you will become proficient and be able to reduce that time even further.
Always be looking for information and interesting things to pass along in your networking. Keep a notebook handy, even when away from the office, to capture your ideas and thoughts. Become a resource for others so they value your posts, twitters and such.
Spread the love. If you're knowledgeable about these techniques and methods, offer to do a class for Realtors, builders and others on social media marketing. If you don't consider yourself knowledgeable enough, look for someone outside the industry that can help you give a class. You may even be able to do something through your local Board of Realtors with the side benefit of them advertising the event for you. This face-to-face time with referral sources is priceless.
Through all of these efforts you are improving your reputation as a resource and expert. There is great interest in this topic right now. Capitalize on this and you will see your referrals increase. Isn't that what marketing, of all kinds, is all about?
P.S.: You can find me on Twitter: @blisssawyer, Facebook: bliss@blisssawyer.com and on my blog at
Bliss Sawyer is a nationally recognized coach, trainer and speaker. She specializes in relationship-based marketing strategies for mortgage professionals. She can be reached by telephone at 806-577-3937 or by e-mail:
