What is Social Prospecting? (and Should You Be Doing It?)
The opportunity to engage with potential clients through social media is more prevalent than ever. Many commercial real estate companies have had great success using this strategy. This process is called social prospecting, and it can help keep your pipeline full.
Let’s take a look at what social prospecting is and how you can utilize it.
What is Social Prospecting?
When you search social media platforms for prospects, you are practicing the art of social prospecting. It is listening to people and not just mentions or keywords. Social prospecting allows you to engage with prospects on social media through content to get them to your website and to escalate them from potential clients to clients.
Why Brokers Should Use Social Prospecting
It’s no secret that no one likes to cold call. The truth is, cold calling isn’t always effective – in fact, 90% of top decision-makers say they do not respond to cold calls. This is where social prospecting steps in. You can use your social platforms to identify new leads that are already talking about your business, commercial real estate, or your competitors. Using social listening will help you identify when the right time is to reach out to these prospects slowly with useful info, helping you turn the prospect into a lead and then a client.
Social prospecting can help reduce the amount of time you spend researching accounts and contacts. With prospects sharing so much information about their wants, needs and pain points via social media, even your first communication can be relevant, personalized and helpful rather than cold. This helps establish an immediate connection and helps you engage further with clients and prospects. Thirty-one percent of professionals said that social selling tools helped them builder deeper relationships with clients, according to Hootsuite.
In a recent survey by CSO Insights and Seismic, one in three B2B professionals said that social selling and social prospecting tools increased the number of leads they had to work with. With your audience already having a strong presence on social media sites such as LinkedIn, it’s easy to scout out prospects on social media and find common ground to create a warmer first meeting or first contact.
Tips on Social Prospecting
Here are strategies to help you develop a social prospecting plan.
- When does the prospect post? This will help you determine when to engage.
- How often do they post? This will help you determine how likely they are to engage with you on social media.
- What are their interests? Find out what college they attended, what sports teams they like, what their hobbies are or if they have children. This will help establish common ground.
- How often do they interact? Observe how the prospect engages with others on social media.
- Respond to posts pertaining to things in the commercial real estate industry.
- Take part in the conversation if the prospect poses a question on social media.
- Share an article that you may think will interest the prospect and tag them in the post.
- After you have engaged with a prospect, introduce yourself and your CRE services to them using the information you have gathered from their social profiles to establish an instant connection. Show the prospect you are listening and can help them accomplish their CRE goals.