1% of cold-calls turn into an opportunity but what if I told you that 69% of social selling turns into an opportunity?
Now, that doesn’t mean you should stop cold-calling all together but it does indicate that some of your commission lives in your social channels. So, the question is, how exactly are you taking your commission out of the digital world? How are you selling on social media (or social selling)?
I can tell you one thing: spamming to the world that you are a Realtor is not the right way to start and neither is scrolling down your newsfeed for 2 hours in order to find a post like the one below:
That’s not how social selling works and definitely not how social media works.
In order to better understand social selling, we must first understand social networking and social media. First off, social media is a fancy word for websites and applications that we use to “social network” and social networking is literally defined as “using websites and applications to interact with users, or to find users with similar interests to oneself.”
I’ve bolded and italicized a few words from the definition above because it is important to remember that you can’t just join a Facebook group and spam your listings. Instead, try using Facebook in this way:
For example, do you have a friend that you haven’t seen in 15 or 20 years? Would you even love to sell that friend a house? Or at least ask that friend for a referral?
Well, I got news for you, social media is actually a great place to rekindle a friendship and ask for a referral. Let's take a look at the psychology behind this. It would seem pretty weird and invasive if someone you haven’t talked to in years called you at 11 PM and started revealing all the intimacies of their life. The thing is, that behavior is perfectly acceptable on social media. Believe it or not, some people actually post about their life on social media with the intention of getting likes and comments.
We have a word for people like this….
Buyers, sellers, and referrers
That’s right. Buyers, sellers, and referrers. At the end of the day, that weird 11 PM phone call from that friend you forgot even existed is no different than the same friend posting on Facebook while feeling nostalgic because their child is leaving for college in a month. The only difference is the phone call is very invasive and awkward. Whereas, social media is the acceptable platform to invite people back into their lives.
The not-so-secret trick to converting that old friend on social media to a buyer, seller, or referral source is to engage with them on social media. Like their posts, comment on their pictures, be there friend first, and a Realtor second. After you have engaged with this friend long enough you are allowed to direct message them. Or as the Millennials call it “slide into their DM’s.”
After all, the art of “social selling” is really just a fancy way to say “friendship.”