Modelry - A Random Walk through Internet Real Estate: Why Do Consumers 'Like' on FaceBook?

Why Do Consumers 'Like' on FaceBook?

Just saw this article on LinkedIn discussing why consumers like web sites or fan pages on FaceBook.   Here is a link to the article analyzing why consumers like things or web sites on FaceBook.

Based on my read of the article and the below infographic, it seems like the keys to a successful FaceBook sharing strategy are:

1) Provide something of value for free (like discounts) - Classic Joe Stumpf By Referral Only kind of stuff

2) Provide free information (like local information, market reports, or other local information on family events)

3) Provide education - this may be similar to #2, but local education on an area would be useful for home owners, buyers and sellers. 

4) Brand association - show the world that you like certain items and brands.  It is unlikely that any typical real estate agent or mortgage broker would not have the "brand" that consumers are going to go out of their way to "like."  BUT there is or may be a good strategy with "hosting" a neighborhood on FaceBook that does have the association that consumers want.  Be careful of overselling yourself and alienating your consumer base.

Other thoughts?

 Why Do Consumers Like on FaceBook

Nikesh Parekh

Add Me on Google+, Follow Me on Twitter, Connect with Me on LinkedIn:

Google+ LinkedIn Button   Twitter Logo

Comment balloon 15 commentsNikesh Parekh • May 30 2011 02:28PM

Comments

Nikesh - the popularity of the 'free' word is good for us: just about everything we do until closing is always gratis.

Posted by Mitch Claymore (RealtyPLR.com) over 7 years ago

It really is great to show support for businesses that you like, maybe encouraging others to use their services. And if I see a large number of likes it draws me to check it out more as well. Opps, maybe I am a follower...

Posted by Jerri McCombs, Hendersonville NC Relocation (Hendersonville NC Relocation) over 7 years ago

I am surprised at the number of people who are on facebook almost 24/7.

Posted by Lori Bowers, The Lori Bowers Group over 7 years ago

People like whatever is going to hurt them less... So if there you are running promotions and specials it makes more sense that you are going to get more traffic. Great points Niki.. Look forward to meeting you at Raincamp LA! :)

Posted by Stacey Smith, Your Orange County Beach Cities Realtor (Keller Williams Realty) over 7 years ago

Interesting that many of the top reasons are discount or freebie related??  I don't think I have ever "liked" a page because of that!  Kathy

Posted by Kathy Schowe, La Quinta, California 760-333-8886 (California Lifestyle Realty) over 7 years ago

Hi Nikesh,

Thanks for sharing this one, it motivates us to spend more time and attention on the Facebook side of things, which todate has been mostly linking our AR post to fB

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) over 7 years ago

Niki, I am certainly not a Facebook expert, but, I have been living a conservative Facebook life for the past 6 months.  During that time I have added content to my profile indicating books, movies and other things that are my favorites.  I have also indicated liking certain pages, photos, videos and other items.  I think that many people LIKE things simply because they LIKE things, and are not, as some people would have us believe, necessarily saying that they are endorsing those items.  Many people do not realize what happens when we LIKE something.

What does it mean to "Like" a Page or content off of FacebookWhen you click "Like" on a Page, in an advertisement, or on content off of Facebook, you are making a connection. The connection will be displayed in your profile and on your Wall and your friends may receive a News Feed story about the connection. You may be displayed on the Page you connected to, in advertisements about that Page, or in social plug-ins next to the content you like. The Page may also post content into your News Feed or send you messages.  THAT IS A LOT OF ACTION FROM JUST HITTING A LIKE BUTTON. 

I believe that we are often being used as an endorsement for products and services that far exceed our simple LIKE intent.  I also believe that most people are interested in getting something for FREE, and will hit LIKE, because it is a requirement for the FREE item.  Sometimes, LIKING something is just LIKING something, and that's all it is.  What do you think?  Best wishes always.

Posted by Richard Yates, Broker and Realtor Orange County, California over 7 years ago

Among others, Matthew Ferrara and Mike Mueller have written quite a bit about using FB for communicating about real estate-related services. They warn not us not to confuse consumer behavior for products with consumer behavior around high price service providers.

"Free" market analyses or home searches is outdated and people treat these offers skeptically when associated with services, as are the words "discount" or "special price".

"Brands" are very important to certain demographics, so communicating around the a high value brand is a different proposition than promoting "discount" or "free". Of course, people without a strong and positive brand identity dismiss the very notion of it's relevance.

Posted by Leslie Ebersole, I help brokers build businesses they love. (Swanepoel T3 Group) over 7 years ago

Nikesh

This is a very interesting post.  The statistics are revealing and confirm our instincts about Facebook.  I am not interested in liking companies for the sake of a discount, and I am not interested in having it broadcast to the planet either.  We recently talked to a company that has a page on Facebook, and increased their business by giving a free item to their customers and engaged their participation in getting their feedback, so we understand the value there.  Thanks for sharing this. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 7 years ago

Im still trying to figure this out as well. My fanpage has a few likes, but I'd like to pump it up quite a bit. Thanks for the tips.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) over 7 years ago

Thanks for the data. It is hard to know where to spend time wisely when using social media. Right now I flip back and forth and have to remind myself the goal here is to find clients who buy homes... Thanks for the blog..

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 7 years ago

Niki,

Interesting research results..  I get a lot of requests from companies that I do business with.. "like" us to be entered to win..  blah, blah, blah..   I guess it works!

Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) over 7 years ago

Since I post on FB~ AR's FB and our group here on Facebook Friday's I fall at the 39% (to show my support for other company's) Great blog and a total RE BLOG to get the info-Graph to others that are still not jumping into the Social Media~ Thanks. ;)

Posted by Lauren Selinsky Broker CRS, "Your California Real Estate Broker" TM #oclauren (California Coastal Estates) over 7 years ago

That is a great graphic, and the statistics/reasons are interesting, thanks for sharing the info.

Posted by Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) over 7 years ago

Very interesting Nikesh, still not sure if I understand the value of a Facebook "like"...

Posted by Chris Smith, South Simcoe, Caledon, King, Orangeville Real Esta (Re/Max Chay Realty Inc., Brokerage) over 7 years ago

Participate