Wow! That is a long title. I know that it breaks the rules for titles, but this is important enough to try and get some attention.
Last month, I was at the FIBI Holiday Party that was sponsored by MOR Financial & MOR Synergy. First, the party was an absolutely amazing time with a silent auction that benefited Habitat for Humanity. There was so much networking to be done that by the end of the night I could hardly talk. If you EVER have a chance to attend any of these events in the future, don’t hesitate.
During my time there, I met realtors, investors, attorneys, interior designers, radio personalities, and so on and so forth. Towards the end of the night it hit me: the one thing that was being accomplished at the event was this phenomena called Cross Market Attribution. I know, another big term for something that we probably already know, right?
Well, not really. It is something that advertisers and networkers are starting to recognize as a vital aspect in today’s marketplace. It hit me as I was sitting there talking to Linda Hayslett, an interior designer. She was explaining her network and the individuals that she works with – everything from investors, to people who fund deals, to contractors and vendors. She has put together a network of individuals who she helps and who, in return, help her. A recent article in Forbes gives us a better definition. It is, “the science of using advanced analytics to allocate proportional credit to each marketing touch point across all online and off-line channels, leading to a desired customer action.”
Again, a lot of jargon, but let me explain it a bit more and explain why it is so important. Setting aside the analytics end of it, unless you have an advanced math degree, I would like to look at what we can do in our approach to this. If you visit my YouTube page you will see videos of my most current project. YouTube advertises other people’s videos when you view mine. They figure out what they think you want to watch and present those options to you. So, my video is being shown on other people’s pages. They advertise for me. I also have my Facebook page, which Facebook advertises on other people’s page for a sum of money.
Here is where it gets really good: see the links that I’m putting in this blog? When other people search for any of those terms, my blog can appear in the search results. Now, this in itself isn’t really the whole point. I can do all of that myself. BUT, if they put my link into their posts (like YouTube and Facebook are doing for me), then I can appear when people search for them. By working with other individuals who promote the work that we do together, they are raising my digital presence and I am raising theirs.
In other words, when I give credit where credit is due, both my presence and theirs is impacted. Call it digital karma. I have always tried to promote the people that I believe have integrity and are the real deal. That is one reason that I work with Sean and Ajay at MOR Financial. I promote them when I go to events and when I blog and they promote me through this blog as well. If you do this for purely selfish reasons, it shows and doesn’t have the ring of integrity. If you truly want to help other people and promote them, they will in turn promote you because you will be the type of person that they see value in working with.
The Contractor and Agents that I work with talk about the all the fine that they do business with. They introduce them to people that they can also work with. This increases the brand identification, which leads to more business for everyone. They all cross market each other. Everyone’s business grows to the extent that they help each other.
When you want to grow your “market share” (how many deals you get), you have to approach the marketing in a new way. We have to put together this cross marketing and get exposure in as many ways as we can so that we can increase our business. This is just smart business in the 21st century.
On another note, on Saturday January 24th, I am holding a Goal Setting Workshop for Real Estate Investors along with Deborah Razo of Cornerstone Property Partners. If you would like more information you can check out the website for Forward 2015. I hope that you will all be able to join us there. If there is enough interest from those unable to attend in person, we will also provide it as a webinar at a later date.
If anyone has more questions or wants more one-on-one coaching, don’t hesitate to contact me. This is a passion for me and I truly enjoy sharing what I know with others. Thanks for coming by and getting a bit of the education. Until then, remember that you, too, have that inner warrior that it takes to achieve greatness and success. Feel free to drop me a line at Coaching[at] BaileProperties.com.
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