Fifteen years ago when I launched my first online business, I was really excited about the promise of Internet riches. For you as an estate agent launching your new website and investing in digital marketing may have raised your expectations that new technology equals more vendors or landlords.
Alas, after many failed attempts you wonder what the hell is going on? All that investment and still no growth? Tech disruption increased competition and made home owners more powerful. The result is a steady decline in stock levels and a power shift to property portals.
The real problem, I believe, is understanding what the Internet revolution meant and how it fundamentally changed peoples’ attitudes. A subtle shift needed to be made by brains still wired for 20th century business to succeed in the knowledge economy.
A shift many haven’t made. We want to sell because that is what businesses do. And it’s really hard to shift out of this mind-set. Re configuring our minds and businesses for the knowledge economy is important to grow despite the challenges we face.
Making the shift
In the past, you expected the media to help get exposure. Now you have to do it yourself by making the necessary investment. The key to success is to understand these two fundamental principles that guide peoples’ use of the Internet.
- Like most web users, home-owners do not come online to get sold. Rather to look for friendly advice and information.
- They act on recommendations from a trusted source.
There is a third which has started to form within the last couple of years and that is, 3. the web is full of noise. People need help to make sense of it.
Becoming a trusted source of information for your clients is your number one priority. Only then could you expect them to act on your recommendations. Without this fundamental shift no amount of paid traffic will help reverse the decline in your stock levels.
For a free consultation on how to secure a competitive advantage or implement a strategy which will see you become the authority in your market place contact me.