Millennials are a group of movers and shakers (speaking from experience)— and one of the most prominent groups of real estate buyers and renters today. This age group is also choosing to dive into active real estate investing. As an up-and-coming, investor, it's important to tap into this demographic. If you network well now, you have the opportunity to create long-term relationships that include repeat business possibilities.
Some investors, especially the old-school generation, may find it difficult to create commonality and understanding considering the large age and technology gap. Let's face it. The way we do business now is changing rapidly and will continue to change. The truth is, if you choose not to adapt, you're going to be left behind or out of business. It's important to meet the millennials where they are, and that place? Well, it happens to be the sprawling metropolis of "Social Media."
To give you an idea of what the best social networks are and where to find millennial buyers and renters, check out the four must have social networks listed below. What I have learned in my time as an investor is that I have to go where the people I want to reach are hanging out. So, test out these social tools to grow your business opportunities.
Facebook is the largest and most used social networking website and app in the universe. Facebook is a great way to target an audience, gain high conversion rates, and get the best marketing ROI. For example, if you run a company that operates rentals, you can run an ad to target millennials who live in a 5-mile radius of your property. Try it.
We know Facebook is great, but the even younger generation is saying it's something "the grandparents use." (Let's not tell these kids about MySpace then). YouTube has an appeal to a younger group who wants to learn how to do things and see things. The engagement is huge and business exposure essential. Make sure you are on this platform— posting videos, running ads, and commenting on other relevant uploads and channels.
Snapchat is a great way to engage with an audience in an exciting way that creates urgency and tells a visual story. Once again, it's about engagement. The younger audience will begin to trust you by following and viewing stories and photos. This platform is still aging up, but can be a great place regardless to start building your brand before all other business start to leverage it..
Instagram is a great way for brands and individuals to get in front of people in an authentic way. You can use this platform to post photos of a property, share what you are working on, or display an inspiring message. You have the chance to comment and connect. Instagram does build relationships and trust when used as part of a social media strategy.
Social networks can be fun, but for a savvy investor, he or she realizes that it's not play, a game, or a joke. Traditional forms of media and business have changed. No longer do we even watch "regular" TV. Writing letters and encyclopedias are things of the past. We text instead of email. Snapchat instead of talk. And Instagram browse instead of looking at magazines. To be in business in 2017, you will need to meet your audience where they are, so take some time to familiarize yourself with the social networks mentioned and bring your business to another level.