I was honored to take part in a webinar last week hosted by RealNex. The webinar was entitled "How to Make Money with Social Media." Included in the cast were Matt Smith (host), Howard Kline, Barbie Reuter, Bo Barron, Duke Long, Linda Day Harrison and me. The task of explaining "hyper local" was mine...so I boned up!
When we think of a hyper local activity, the neighborhood pizza joint comes to mind. I am sure that you have received a coupon or newspaper insert (Michael Beckerman is scratching his head right now wondering who would POSSIBLY subscribe to a newspaper?) with a "buy one get one free" offer. You guessed it...hyper local...a marketing effort that appeals to a small finite community. Does anyone outside of the neighborhood's geography care about Z Pizza's latest offer? Probably not. But, if you live in the neighborhood and have three kids at home on a Friday night...with their friends...the offer is GOLDEN!
Realize that a "community" is not simply geographic. A "community" could also be commercial real estate brokers who specialize in food processing facilities OR buyers of NNN leased retail boxes. I don't frequent either discipline...consequently, I could give a rip if someone in North Carolina has a leased Dollar General for sale...BUT some do.
So, how can we as commercial real estate practitioners and marketing professionals capture the power of a HYPER LOCAL marketing effort and MAKE MONEY with social media? I have two really brief examples.
EXAMPLE ONE: Two years ago, I filmed a virtual tour, with my IPad, of a building that I was trying to sell. I frequently do this so that my client can get a look before investing time to view the building in person. I am careful to title my virtual tours with the address of the building. I didn't make my sale deal in 2013...but the virtual tour remains in hyper space. Last week, I received a random call from an occupant. He had seen the VIDEO. He is RIGHT ACROSS THE STREET! I asked why he didn't call the broker whose name was on the sign in front of the vacant building and he told me the sign had been removed, he Googled the address, and my VIDEO appeared second behind the mighty Loopnet...VOILA!
EXAMPLE TWO: I recently attended a gala hosted by the Orange County Register. Our company, Lee and Associates, was honored as a Top Work Place in Orange County. I tweeted relentlessly during the awards ceremony. One of the business columnists from the Register started following me. I sent a blog post to ALL that attended the gala...including the columnist. The columnist (turns out she is an editor) called me last week to collaborate on a story regarding "off the wall" uses for industrial buildings in Orange County. I gladly helped her. The event attendance, tweet, blog post, and collaboration...I am PLEASED to announce...has resulted in a WEEKLY, I hope not weakly, guest columnist assignment in the Sunday Real Estate Section! BOOM!
By: Allen Buchanan
Principal | Lee & Associates
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