Why F1 Has Everything To Do With Social Media.
The winning car in an F1 race has a powerful engine and a team feeding vital intel; when to accelerate, when to break, fuel levels, road conditions. There is endless data interpreted by specialists who feed instructions to the racer behind the wheel.
Without this, the driver may make it round the track but they will never win the race.
We all have the same tools when it comes to social media – the internet, the networks, the ability to set up a profile. It’s a level playing field at the start line. But when the cars leap forward it takes careful navigation to overtake the competition, and ultimately, the racer with the best team behind them will prevail.
Ten years ago it was the big companies that won over the small ones. Now it’s the fastest companies that stride ahead. Social media has created an even playing field in favour of agile brands who can make smart decisions quickly.
Never before has data been so accurate to inform these decisions. With the right information behind you, you can stay tight to the lines and do the right thing at the right time when it comes to online marketing. Without the right data, you will spend unnecessary time doing unnecessary things. And nobody likes wasting time.
But there is a danger – as the world becomes increasingly technologically advanced – to expect too much from technology and not enough of ourselves.
So before revving the engine, ask yourself 3 strategic questions to ensure focus and clarity as a company:
- Where are we now?
- Where are we going?
- How do we get there?
- What does success look like?
- How do we achieve it?
- What could stop that from happening?
Social media stats are not your friend – click-through-rates and conversions are low in comparison to other marketing methods. But to blame social is ignorant – there is a fundamental problem with how a lot of people are using it. No targeting, no understanding. The majority of companies on social media are shooting in the dark and praying for results, and this is simply bad marketing.
You need to know the answers to the questions above in order to form the foundation of a strategy, then – much like an instructor in a racer’s ear – you need someone feeding you the most relevant information to help you win.
This should include:
- The start line (a benchmark of where you currently stand on social media)
- The conditions of the road (your audience, your competition, your market)
- How you are performing after each corner (your activity and engagement levels)
- How to take the next one (what to share and when based on audience behaviour and past performance)
At Propertyflock, we strive to provide estate agents with the insights they need to understand exactly what to do on social media to get the best results. If you’re interested to find out more visit www.propertyflock.co.uk
Image Source (edited): Flickr / CC BY 2.0