Email vs Social Media in Real Estate Marketing
As technology takes over more of our world and Millennials rise into positions of power, marketing strategy is increasingly becoming dominated by social media. Of course you should have a robust social media presence, and on many different platforms, however (contrary to popular opinion) it's not yet time to discount email as an effective marketing tool.
Pros of email:
- It is super inexpensive. Even when you contract with a company to send your emails for you, to hundreds of contacts, it’s still incredibly affordable.
- It is super fast. You reach your audience immediately and directly. This is ideal for information that is new and/or time sensitive.
- It is super analyzed. Well, you can get reports and analyze them. Track who opens your messages, what links they click on, and receive calculated statistics such as click-through rate and ROI.
- You get more click-throughs. More people who are likely to be interested in your information — and therefore read it and contact you — are found in your own database.
- More leads go from cool to hot. Because you can personalize and target emails, they naturally have a higher conversion rate than leads obtained from social media.
- It's much easier to build an email list than a social media following.
Cons of email:
- Emails can often be trapped in spam and junk filters.
- If you don't grab readers with your subject line, you're probably not going to get a recipient to open it, let alone read it and click through.
- You need to format it so it can be read on multiple platforms (PC, mobile, tablet).
- People get a lot of emails. Again, you've got to grab them to be sure yours is opened.
- Building up your database can be time-consuming.
- Emails are usually deleted after opening and not often forwarded to others.
Pros of social media:
- There’s a very high engagement rate. Posts are shared with others and commented on, leading to more eyes seeing your name and brand.
- You could go viral. If you’re extremely lucky and a good writer with great information, thousands of people could be exposed to who you are and what you do.
- You can interact with your followers as well as new contacts, through posting and commenting.
- Social media can increase the number of contacts you capture (and then you can send them your e-newsletters!).
Cons of social media:
- Getting people to act on your posts and tweets is much more difficult, as your audience isn’t targeted and people often merely “lurk” on these sites.
- It’s time consuming. To keep up a following, you need to post and tweet regularly with fresh content and you also need to respond to comments and questions. This can eat up a lot of time!
So here's the thing: it's not necessary to choose one over the other. By using email and social media as complementary strategies rather than competing ones, you can reinforce your outreach to different segments of your audience, with the potential to grow your influence and contacts list even more.
I have a robust presence in social media and an extremely efficient and successful email marketing program as well. Let’s see how we can use both of these marketing tools and grow our businesses together.