Social media is redefining the business landscape, especially in the real estate arena. However, this means that it’s hard to explain under traditional business practices. In this video, Bob Watson (Top Broker Network Consulting) addresses the issue of measuring your Return on Investment (ROI) from your marketing efforts. To put it another way, he tackles the important question: “How will social media make me money?”
Compared with traditional marketing methods, like postcards and other mailers, social media’s relative cheapness is very appealing – after all, if you don’t have to invest any money, your ROI will technically be high. However, you do have to invest time, so, as Bob discusses, it is important to approach social media with a clear long-term strategy if you want to make it really work for you.