And one quick solution!
Why is digital social media marketing so critical for marketing? Here are some statistics that may show why:
79% of Americans (that’s 8 in 10) have at-least one social media profile (Statista)
65% of adults use social media– (Pew research centre)
Social media is the 2nd most effective digital marketing medium for customer retention while Email was #1 – (TNW news)
That is why title agents should have an effective strategy for a strong social media presence. Even though social media marketing seems simple, with the constantly changing landscape & the emergence of new technologies, there is a struggle to adapt. Most end up spending time and money to get it right – resources which can otherwise be invested in growing their core business and helping their customers (lenders & realtors) close loans faster.
Because of this, it may just be better for title agents to leverage the services of an expert like SLK Global Solutions who have the required technology platform and the manpower to help title agents effectively use the social media platform, with a high return on investment.
So what are the typical challenges in digital marketing?
1. Measuring ROI: Measuring Return on Investment is critical. When it comes to email marketing, measuring ROI is easy because getting a lead can be directly co-related to the email campaigns sent out. But when it comes to social media, you need to set up your Key metrics first (and these vary by the different types of channels, as well as platforms), and then design and track your campaigns. If increasing brand awareness is the goal, then you may want to measure the number of followers, whereas if your goal is sales, then your ROI should be tied to the amount of sales directly attributed to the campaigns. So before you start your social media campaign, setup the goals accordingly and track your progress.
2. Developing the right strategy: There can never be a one-size-fits-all approach for social media marketing. Different demographics are on different platforms, have different needs and hence demand different strategies & messaging to appeal to them. You need to stay up to date on the latest trends on each platform and each demographics for your campaigns to yield any result. This research requires technical expertise as well as resources – but is critical so that any time and money spent is optimized for best returns.
3. It takes significant effort to be successful: Social media marketing is not something which you can just “switch on” and then be able to see results immediately. It takes time and effort – and our experience tells us, a significant amount – to have a successful social media presence. You need to have a complete understanding of your target market, what platform they prefer, their behavior on digital platforms, their pain points – and then use that knowledge to craft a message that makes an impact. Moreover, this needs to be done again and again – consistently, for weeks and months, even years.
4. Finding the right technology platform: Your social media marketing success depends a lot also on having the right technology platform – one which is both dynamic and cost effective. But there are so many options, each with a different strength, that sometimes it becomes overwhelming to make a choice. However, it is important to choose the right platform where it is easy to track your accounts, schedule posts, execute campaigns, and have intelligent and actionable data available to you for decision-making.
While this may not be the only way to achieve success, it is becoming a large part of a successful business strategy in the modern connected world. Having a great social media marketing strategy does not have to be that difficult. The easiest way is to leverage an experienced service provider like SLK Global Solutions who have the required domain knowledge (having worked with title agents for nearly 20 years) as well as the technology platform that can help title agents build and execute great social media campaigns in a cost-effective way. You can reach us by clicking here