December 29, 2019
Let’s talk about LTV, let’s talk about you and me.
If you work in the housing industry, chances are that you were sweet talked into having a business page on either Facebook, Instagram or LinkedIn. Maybe you got lucky and managed to get a couple hundred followers, or maybe you just have somewhere around 13 and haven’t posted in 9 months. Let's get real here for a moment and touch on something that all of us are thinking, but none of us are saying: social media is a weird and confusing place.
Ever stop and wonder what those 13 followers on your business page are going to do for you?
The answer is a lot.
Whether they are liking your posts or even just scrolling by, those followers are adding an essential element to any successful brand: consistency.
When it comes to locking down loans or showing homes, your clients know that you mean business. It’s safe to assume that referrals tend to be your go-to marketing strategy. However, this also makes it easier for you to sleep on those 13 followers.
Now, you might be asking yourself: “What is the point of posting regularly, if only a handful of people are interacting with your content?”.
Even more so when that same handful of people are more than likely just your immediate family members (with maybe one or two previous clients lost in the mix).
The answer can be found in two simple words: Lifetime Value (or LTV for short)
If you work in the mortgage or real estate industry, LTV already has an entirely different meaning to you. The loan-to-value (LTV) ratio is how much individuals borrow from a lender as a percentage of their home’s appraised value.
But I am not here to school you on what you already do best. I am here to help you build an entirely different kind of LTV.
This kind of LTV is the projected revenue that a customer will generate during their lifetime.
Now, keep in mind that there is nothing wrong with wanting to be efficient with client acquisition. Gaining leads is still the main goal behind any social media campaign... But you want to make sure you are getting the right leads.
And those start with the people who have been there from the get-go, your lucky 13.
Every single one of your followers (whether they live with you or not) has a network that you have access to. It could be your spouse’s old college roommate or someone you met that one time you did beer yoga. The bottom line is that every time your followers interact with your content, the chance of their people noticing your business page increases.
If you want organic growth with minimal effort, you do not need to pour thousands of dollars into marketing campaigns to establish a solid LTV in your following. What you need to do is to find out what your audience wants to see and deliver it to them. Because at the end of the day, those followers are your bread and butter.
I constantly find myself meeting Loan Officers and Realtors who all seem to share the same favorite phrase; “The highest compliment you can give me is a referral”. While this statement holds true, let’s be honest: No one likes to be out here asking for referrals.
Having a constant stream of quality and unique content on your social media platforms adds more value to your brand than any Zillow review could ever offer. Why? Because you’re not advertising your services, you are expanding on who you are as an entrepreneur in a subtle and streamlined way.
While reviews remain crucial to your business, content is key for maintaining a consistent LTV amongst your followers.
Have you asked yourself why your followers seem to not react to your content enough? If the answer is no, it’s probably because you’re too busy to worry about it.
You’re also probably too busy to even bother keeping up with your social media presence, especially if it means coming up with the content yourself.
Which is why a lot of professionals in the housing industry end up wasting thousands of marketing dollars on grassroots campaigns or faulty lead generation websites.
If the answer is yes, then congratulations! You know your audience and it’s time to build off of that. There is nothing more valuable than having your consistent followers show up and back up your posts (even if it’s just your sister-in-law!)
What if I told you that you don’t have to put so much effort into creating a LIFELONG following? What if I told you that you don’t have to spend half your paycheck on lead generation to get the same results? You are probably waiting for the catch and honestly, I don’t blame you.
The truth is that building your brand is going to take some investment in your people. Because at the end of the day, those followers are going to effortlessly champion your brand by reacting to your awesome content.
Anyone can create a Facebook campaign, but in order to carry out an effective one, you need to make sure you are giving your audience what they want! You need to imagine your perfect followers and serve them unique content that speaks to them, but in your voice.
Whether you are a Broker, Mortgage Consultant or even a Branch Manager, marketing has come a long way since you first started hustling. But that only gives you much more expertise in your field to work with when it comes to developing your digital presence and monetizing your brand.
If you are ready to expand your following and have your social media work for you (instead of you working for it), sign up for a free assessment of one of your business pages.
Zambuki would be happy to help you go through your followers and design a budget-friendly content strategy that will bring you that sweet, sweet LTV every business page deserves.
In the meantime, be sure to give that lucky 13 a little shout out. You’d be surprised to see who might need to buy a house again.