How can LinkedIn enhance social media networking as a real estate investor?
Whether applying for jobs or connecting with contacts, there is no stronger social media networking site than LinkedIn. Dubbed the “Business Network,” LinkedIn is the world’s largest professional networking site, with more than 433 million active users. The site allows users to showcase their career and work expertise, as well as assist in strengthening their database of contacts. In addition to reputation management, it has the ability generate new connections and introductions, facilitate in person connections with groups and open new doors of opportunity.
LinkedIn is also a dominant force for real estate investors, especially when it comes to social media networking. The site can be used to not only generate online leads, but create valuable virtual business relationships and partnerships along the way. LinkedIn centers around communication and establishing working rapport with individuals — similar to how networking is achieved in person.
In today’s digital age, it’s important for investors to not only focus their attention on in-person networking, but their social media networking presence as well. That said, here are four ways investors can take advantage of LinkedIn:
How To Take Advantage Of Social Media Networking On LinkedIn
1. InMails For Email Campaigns
LinkedIn offers a feature called InMail, which allows users to send messages directly to other LinkedIn members, even if you’re not connected. From a real estate investor’s standpoint, InMail holds the power to generate leads.
Lead generation in real estate is an investor’s bread and butter. The traits of a successful real estate investor not only include their ability to generate and capture leads, but ensure an uninterrupted flow of prospects coming in. With LinkedIn’s InMail, investors can send personal messages to other users in an effort to entice them on their services, as well as a friendly way of saying hi and introducing yourself.
According to a recent HubSpot study, LinkedIn generated the highest visitor-to-lead conversion rate at 2.74 percent, three times higher (277 percent) to convert visitors than both Twitter and Facebook.
In addition to helping generate leads, InMail from LinkedIn can also be used to build your buyer’s list. This list of contacts will serve as a database of past, present and potential clients, ranging from investors, buyers, sellers, wholesaler, rehabbers and more.
2. Join Or Create A LinkedIn Group
Another social media networking benefit of LinkedIn is the ability to join groups. These online groups allow like-minded individuals to interact discuss topics in their respected industries or interest. Although some LinkedIn groups require approval, the social media site is home to thousands of various groups, with a large sum of those pertaining to the real estate market.
If you can’t locate a group that pertains to your particular interest or business focus, LinkedIn allows users the ability to create their own. As an investor, creating a group specific to your general needs — whether focusing on your local real estate markets or types of investments you’re interested in — can be advantageous for many reasons. For one, you are creating a designated funnel to collect interested parties. While not everyone may be interested in your services, this approach could snag a few potential leads. Additionally, starting a LinkedIn group as a real estate investor can also provide the opportunity for you to become a thought leader, helping to boost your credibility moving forward.
3. LinkedIn Publishing
Content marketing remains a necessary component in generating online real estate leads. With LinkedIn’s Publishing feature, users can submit content, including their own, the same way they would on their blog or other social media accounts. As a real estate investor, this feature allows you to not only post content in an effort to grow leads, but cultivate credibility as well. Posting content on LinkedIn can assist investors in gaining a broader awareness, as well as higher authority for their brand. In an effort to build trust and rapport with others, including attract new prospects, content marketing on LinkedIn can be an excellent resource for real estate investors.
“The more you know about your customers the more you can provide them information that is increasingly useful, relevant and persuasive,” says Jay Baer, a marketing consultant, speaker and author.
In terms of social media networking, writing and sharing content on LinkedIn can also lead to new conversations. Along with writing, the concept of content marketing also includes engaging with those that comment on your work, which can lead to further discussion as well as future working relationships. I should also mention the importance of not using “filler content.” In essence, this information serves no purpose and comes across as spam. Writing compelling content isn’t easy, but it will ultimately produce the best response — both short and long-term.
4. Ask For Referrals
Without a doubt, referrals in the real estate industry are the key to building trust. Simply put, a referral is a form of recommendation from another party. It’s usually achieved through word of mouth and represents a powerful selling tool for real estate investors. That said, LinkedIn is a great platform for developing relationships, as well as leveraging those connections to gain referrals.
Another aspect of social media networking, particularly with LinkedIn, is asking for referrals. Along with offering a dedicated section for your connections to post referrals, LinkedIn also allows you to request recommendations from your contacts. This can be wildly useful for beginner investors, as they work towards building their real estate network.
On the flip side, investors shouldn’t be opposed to giving referrals for other contacts and investors. Don’t be afraid to recommend someone or share their content, as this will almost always lead to them returning the favor. In addition, investors should consider starting a referral program. By offering incentives, investors will not only encourage loyal customers to recommend their services, but also produce an array of long-term interest.
As a real estate investor, it’s important to treat your LinkedIn profile as your professional brochure. The need to focus on social media networking as an investor is important for a variety of reasons, including the ability to generate leads, build authority and trust among others, and ensure your online brand identity thrives. LinkedIn remains a dominant resource for real estate investors, especially in the form of social media networking.