Does Social Media Really Help Your Note Business?

This week Patrick Clark at Business Week penned the following statement based on a recent [flawed] release of a Gallup Poll…

“Tweets, Likes, and Shares Don’t Make Us Buy Stuff, Americans Say.”

 Of course the Gallup report was also deeply flawed with old data (circa 2012), and no one should have been surprised when people were asked if they are influenced by ads they responded, “No.”

In any case, Clark’s points make an interesting premise when you are talking about selling things like shampoo, gum, clothes or cars.

But what about getting people to sell private mortgage notes?

Is social media where you should be?

Here are 5 quick tips to help you make sure social media is worth your time.

1. Look for professionals.

Target people that see notes on a consistent basis. Accountants, CPA’s, Real Estate agents, property investors, and real estate Attorneys are strong referral sources. LinkedIn is a great platform for interacting with professional groups and our top pick for social media marketing in the note business.

2. Post information consistently.

You are looking to build a relationship. Showing up once every month or so and sharing a post does not build trust and authority. You should be sharing information every week.

3. Social Media does not replace a website.

You should always be sending people to your website. Post something new on your site and ‘promote’ it on various social media platforms. (Pro Tip: If you think your personal or business Facebook page replaces a real website, you are very mistaken).

4. Keep it (mostly) business.

Look, no one cares what you had for lunch and I sure as heck don’t need to see every meal you ever ate thrown in my face every five minutes – that kind of stuff is meant for your personal account. It is ok to share something monumental once in a while, but the more personal stuff you share, the more you run the risk of alienating a potential deal source.

5. You don’t need to do all of them.

Facebook, Twitter, Google+, Instagram, LinkedIn, Pinterest, etc. etc. There is no shortage of social media accounts that, for now, seems to be here to stay. Each one is handled differently but there should be no pressure to post with each platform. Pick the two best for your audience and just work those accounts well.

Mr. Clark makes some excellent points in his article. But the note industry has never fit classic marketing guidelines… even in social media.