Is Social Media a Fad or the biggest shift since the Industrial Revolution?
If you are selling your home, why not use every possible means to sell it? Social media is so large that if Facebook was a country, it would only be behind India and China in population. Currently, 50% of the world’s population is under the age of 30 (Gen Y), and Social media is now becoming the way that the younger generation speaks to each other. 99% of Gen Y has joined a social network, with the majority using Facebook. This is important to note because Gen Y is beginning to take over positions that make decisions and are earning much more, much quicker. In 2008, Gen Y had over $1.3 Trillion in direct spending power. It is crucial that if you want to market something, you embrace social media. Facebook records over 60 millions status updates daily. Gen Y care what their friends are thinking, and hopefully with the right reach, they’ll be talking about you.
Social Media, in the simplest definition is people having conversations online. But if you look deeper into what social media is, it’s a fundamental shift in how we communicate. The importance of social media cannot be ignored, as it is now the #1 activity on the internet. Canadians spend more time on the internet than any other country, averaging 2500 minutes a month with over 68% of the population on line. The internet gave everyone a megaphone, allowing anyone to say whatever they want about anything they choose to. That is why, if you want to be heard, you need to either join them, or be drowned out by all the other people with megaphones.
Traditional forms of marketing work for a local market, but why only reach the local market, when with the right actions, you can reach the world. Currently, YouTube is the second largest search engine in the world, right behind Google (who also owns YouTube). Check out youtube.com.coldwellbanker to view listings all over the world. The traditional forms of marketing are slowly becoming obsolete. Only 18% of TV ads generate a positive return of investment, and with the rise in internet television, PVRs and YouTube, 90% of commercials are skipped. In Canada, YouTube per capita consumption is No.1 in the world, with an average of 244 videos or 18.25 hours a month. With the rise of smartphone sales, don’t forget that now you can view videos from your phone, reaching consumers at any time of the day.
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Remember, with Social Media, you are not limited by local boundaries. That is why, if you want the maximum price, use all the tools out there, and get your home out to the world.