3 Statistics That Prove You Need to Grow Your Digital Sphere of Influence in 2023
As a real estate agent, your relationships are the foundation of your business. To grow a successful business means nurturing and growing your sphere of influence. A sphere of influence consists of all of your connections. This can include friends and family, previous clients, and leads. Today you can build your digital sphere of influence by being proactive online through social media, websites, and online profiles – expanding your online presence and reach.
The National Association of Realtors® released the 2022 Profile of Home Buyers and Sellers which provides data that proves your digital presence is more important than ever before. Take a look at these consumer trends and how you can lean into digital marketing to meet them.
The age of first-time buyers jumped to 36 from 33 years, where it had been for three years. And for repeat buyers, the age has risen to 59 years, up from 56 years in last year’s report. First-time home buyers would be considered “elder millennials” while repeat buyers are in between Gen X and baby boomers.
What does this mean when it comes to online marketing? You need to meet your audience where they are. Social media is an easy way to reach targetted audiences, organic (free) and paid.
Facebook: According to Facebook, 77% of people ages 30–49 and 51% of people ages 50–65 are active on their platform. Having a business page, posting regularly, engaging with your sphere of influence, and running ads are all going to reach the demographics of current home buyers.
Instagram: 47% of people ages 30–49 and 23% of people ages 50–64 utilize Instagram. Instagram provides a way to visually showcase the homes you are working with as well as tell a visual brand story.
YouTube: 67% of people ages 36–45 and 58% of people that are 56+ years old use YouTube. Not only is YouTube used by a large percentage of homebuyer demographics, but it’s also a search engine. Posting to YouTube helps the search engine optimization (SEO) of your brand!
Due to the recent pandemic, many people’s lifestyles changed. The number of people primarily working from home tripled between 2019 and 2021 – growing from 5.7% to 17.9% and the number is continuing to grow.
Marketing local expertise is always crucial to educating those in your community, but 50 miles might be out of your scope. That’s why it’s more important than ever to connect with other agents with whom you’d trust with your clients. Start building your sphere of influence with local, state, and out-of-state agents because the data is stating that people are moving further distances. It’s the perfect time to build your referral network.
88% percent of buyers used a real estate agent to purchase their home. Buyers are most satisfied with their agent’s honesty and integrity, and knowledge of the purchase process.
Consumers are looking to professionals to help guide them through their homebuying and selling journey. But, the first place they look is online. 97% of all homebuyers used the internet in their home search according to the National Association of REALTORS.
The data supports the idea that your internet presence matters! Consumers want to see your reviews, online profiles, and what type of content you regularly post to get a better idea of who they will work with.
If you are interested in learning how your online presence ranks compared to your peers and how to grow your digital sphere, check out SphereBuilderTM at https://www.spherebuilder.io.