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Vanity metrics are everywhere, even real estate

(MARKETING) It is often easy to fall for vanity metrics, everyone does it. But “being number one” is so stupidly subjective, don’t cave.

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World’s greatest cup of coffee

How many times have you seen or heard “#1 in sales,” “x number of satisfied clients,” or “highest grossing broker?” Probably more than once. What do these phrases mean? Are they even really measurable? More likely than not, phrases like these come under the heading of “vanity metrics.”

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Vanity metrics are things and data sets that are easily manipulated. For tech, it can include things like the number of downloads, page views, and registered users; rather than components that are truly important, such as profits and customer retention.

Vanity Metrics in Real Estate

Real estate, like any other field, has their share of vanity metrics. “Being number one” is ridiculously subjective.

While some associates/brokers/offices have absolutely earned the right based on hard data, many have not.

“Being number one” could mean receiving an award from a random blogger friend, buying an award online, or just plain paying to have the title printed on business cards and in the newspaper; it really doesn’t mean there’s anything tangible or concrete behind the statement.

Nothing tangible

Take for example the person that might say, “over 2,000 satisfied clients.” Sure, that sounds great on the surface. They must be doing something right if they’ve made that many sales. Wait? Does that mean they’ve made over 2,000 sales, or does it simply mean they’ve met 2,000 people?

It doesn’t say, “I’ve successfully sold over 2,000 homes and I have the documentation to prove it.”

It’s also another vanity metric that is intensely subjective. You need more concrete information to make a judgement on the validity of blanket statement such as these.

Also, should you really choose a Realtor® based on something so subjective?

Show me a Realtor who has been in business for more than ten years with no marks on their record (ethical or otherwise) with their local association, and has the documentation to show they’ve successfully sold homes to “happy” customers (read: they come with many recommendations) and I’ll show you someone I’ll put my faith in.

What you can focus on instead

Every team is different. This isn’t to say that major (and minor) sales milestones shouldn’t be celebrated, because they should. Rather, this is meant to be a reminder to us all the vanity metrics are so easy to fall for; we’ve all fallen for these lines, likely more than once.

Instead of looking to data sets with no meaning, teams should focus on internal metrics.

How many clients do you have right now? How many of those clients have bought a home from you? How many showings have you done in comparison to sales? Are you getting positive recommendations and feedback? How much money are you making?

Things like this can tell you where you need to improve; it is concrete data (the recommendations might be a bit fuzzy, but you get the idea).

This isn’t to say that some vanity metrics, like Facebook polls and Pinterest posts aren’t useful, rather just be mindful of what you believe and where you invest your time.Click To Tweet

Listen to your team. Listen to your clients. Set attainable goals and reassess them as needed. Don’t worry about those catchy little phrases, because you know what you need to do to close your sale and keep everyone happy.

#MetricsManaged

Senior Staff Writer at The Real Daily, Jennifer Walpole holds a Master of English from the University of Oklahoma. She has long been a dedicated business and technology writer, and she holds real estate close to her heart, as she comes from a family of brokers.

Real Estate Marketing

Be your own hero, make your own dang animated gif

(MARKETING NEWS) Oh, the ubiquitousness of gifs! People love them, and let’s face it: gifs sell. Why not make your own?

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A gif for any occasion

Oh, the ubiquitousness of gifs! Who knew that in just a handful of seconds you could have a moving image ready to convey the perfect situational response or reaction. There’s something so fun and memorable about using gifs to express yourself. Next time you’re ready to sling a celebratory gif to your sister after hearing about her promotion, or a pizza gif to your family and friends to indicate your Friday night dinner plans, why not consider making your own gif?

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Don’t let pop culture speak for you

With gifs.com, you can take your self-made content and tailor it to be the gif that’s perfect for you! The possibilities are almost endless: You can use a gif to share the latest developments in a product you’re working on, or for more personal ends. Maybe you’d like to share your latest cooking experiment, or a few steps of a walk you took on a particularly beautiful winter day.

Grab a link to content from your YouTube, Facebook, Instagram, Twitter – or simply upload a video from your own computer. Adjust the timing of your gif, add any effect you want (including this amazing Deal With It effect) and then create your gif.

But pop culture can speak for us too…

You can also use Gifs.com to create custom gifs from already well-known content. Sometimes, our favorite TV characters, star athletes, YouTubers or musicians can express something for us better than we ever could ourselves, and all the gif digging in the world won’t find us the exact image we’re looking for. There’s nothing wrong getting an assist from a reliable character!

You can upload content from your computer if you have something saved, but you can also grab content from almost any social site on the internet.

Those little extras never hurt

Gifs.com allows you to customize your gif’s link. This means that if you create something destined for meme-worthiness, you can link back to your own site and drive traffic on your blog or online store.

You’ll also have the ability to add stickers, text, and effects that will take your gif creation to the next level.

Considering this service is free, it almost seems wrong not to share your Gifs creations far and wide!

#GifMaster

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Real Estate Marketing

Refocusing your marketing strategy from millennials to Gen Z

(MARKETING NEWS) Gen Z will have more purchasing power, and be more prone to spending than the generations before them, and will be at a homebuying age before you know it – time to adapt.

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Time to refocus

Research on Gen Z is increasing as they graduate and enter the workforce. The biggest misconception is that they are just another kind of millennial. In fact, they are similar to the generation raised during the Great Depression.

And while they might share dependence on technology and short attention spans with the millennial crowd, some trends in Gen Z are remarkably different. This just might include their views on homeownership and the American Dream – while millennials seemed to have overwhelmingly rejected these things, Gen Z might be surprisingly traditional. We will be keeping an eye on them as they begin to enter adulthood. For now, your marketing strategies will need to be adjusted accordingly.

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Trying to get Gen Z on the phone?

Unlike millennials, Gen Z does not prefer all the digital interactions available. They are more likely to use click-to-call features, especially after texting or chatting first.

Once on the phone, though, the Gen Z cohort is more likely to hang up quickly, curse at the person on the line, or be frustrated if there is no immediate answer.

In a world where there are several avenues of communication with a company, Gen Z seems to want a more personal touch.

But they are more impatient about waiting for it.

Why does it matter?

This impatience and short attention span are tied to Generation Z being the most plugged in group, like, ever. “Gen Z consumers can be speaking to a customer agent, research everything that agent is saying and simultaneously tweet about how great or awful their experience is,” Sabrina Gravlee, Analytics Manager at the Marchex Institute.

Millennials, who prefer to make even large purchases digitally without any face-to-face or phone contact, got a lot of people thinking that was a trend that would change everything, and permanently. No car lots, no cashiers, no person-to-person selling. And that still might happen. But the Gen Z research suggests that a balance might be struck finally.

Perhaps the millennials were the opposite end of the pendulum from their baby boomer parents, and now we are back in the middle ground.

Marketing strategies on fleek

In any case, businesses would be wise to consider a hybrid approach as Generation Z becomes a bigger part of their consumer bases.

Some sources predict that they will have more purchasing power, and be more prone to spending than the generations before them.

“The faster businesses can understand the patterns and preferences of Generation Z, the faster they can gain footing with this next wave of consumer growth and ensure their own success.” say Gravlee.

Companies who adapt quickly to their youngest potential customers will be ahead of the game as we see Gen Z grow into their consumer status.

See the full report here.

#GenZ

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Real Estate Marketing

How to use Buffer’s social media calendar to boost your marketing efforts

(MARKETING) Social media can be a handful to manage, but Buffer offers a calendar that could give you the competitive advantage.

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Growing an audience on social media often means implementing a consistent sharing schedule to give valuable, timely information. A social media strategy will help businesses reach their audience in a meaningful way and keep them engaged throughout the entire process.

Buffer, the online social media management tool, understands the need for an organized social media strategy, and has now added a social calendar to their list of great features. With Buffer calendar, users can keep track of when, where, and what to post over long periods of time.

Super easy to use

Buffer’s social media calendar operates much the same way as a Google or Outlook calendar, making it familiar and easy-to-use. Users can add social media updates to the calendar months in advance, reschedule when necessary, and click each calendar item to get in-depth details and see if the task has been fulfilled.

You can also schedule customized posting to automatically fill pre-set time slots, and click and drag items around the calendar for instant rescheduling.

Complimenting your queue

Buffer already offers the Buffer queue, where users can create a list of social media updates to automatically post at certain times. Buffer calendar is a great compliment to the queue because it allows users to schedule much further out, and see the update schedule one week at a time. The calendar format is an important visual tool that will help many users better monitor and implement their content strategy.

For example, if a particular day had multiple updates scheduled about the same topic, Buffer calendar would make this easy to identify and rectify.

While the Buffer queue may move updates around on the schedule when users add or move posts to the top of their queue, the calendar ensures that these updates are pinned at the exact time you choose. Even better, the queue and calendar will automatically sync so that anything added to the queue will show up on your calendar—and vise-versa.

The new calendar feature is a great addition to Buffer’s social media management toolkit. The Buffer calendar allows for a new level of precision and accuracy, making it easier than ever to create custom scheduled posts, schedule projects for certain dates, and manage social media updates and pins.

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