Ray White is the largest real estate firm in Australia. The company has been in the real estate and properties industry for over 110 years (Ray White Group, 2017) and boasted expertise in concierge, insurance, auction, home rents and selling, property advice, and loans. Business bring in revenues of over AU$ 27,000,000,000 annually which has to be maintained in an increasing trend. Having a broad range of networks has called for the need to use social media marketing to build its brand name and increase its visibility to the customer both as existing and prospective customers. Social media works by creating relationships. Today, the social media has the largest audience among all the media used in marketing. Effective social media marketing is a complex operation. The process requires complete knowledge of the marketplace, the needs of the business, the tools necessary and appropriate management of the full process.
Statement of the problem
This research is purposed to analyze the social media marketing presence its effectiveness with an effort to develop an effective social media strategy to be used by Ray White.
Significance of the report
This research is to give the management an analysis of the company’s use of various social media by the marketing team, how effective it is and provide recommendations on ways to enhance social media efforts that will, in turn, improve the value Ray White Limited.
The four steps model for developing a social media marketing strategy
Ray White Limited has used the social media as a marketing tool all the way since the invention of the internet, the worldwide web and email. A combination of where the company’s history and where it wants to get. Marketing involves creating and communication of valuable information about products and services to potential and current consumers with the aim of influencing their decisions (Alexandra K?hler, Mirko Gr?nder, 2017). Use of Developments has taken place from time to time as the technology is not static. Social media has become the talk of the day at the present times. Ray White has embraced it to become the most used media for marketing activities. The whole process involved has been discussed below.
The first step to an effective social media strategy in Ray White is getting the information on responses in the market. There are several tools used in listening which may either be paid for or free. The tools range from Google analytics, Facebook insights, and social mentions. Information that is obtained by this process comprise all activities done in social media, and it consists of content creations, critics, joiners, spectators, conversations, and collectors. Listening is the first step because social media marketing is two-way and the company has to understand the behavior in the market before proceeding to communicate.
After listening, Ray White has received insights on market behavior and the needs of customers. The communication process is either B2B or B2C depending on the objectives on hand. The intelligence collected while listening is analyzed and then join a conversation. Content created is used to build attention and creativity. Socializing in media relations is crucial by use of media channels. During communication, honesty and openness on motives, agenda, and goals will build trust and loyalty. Networking will enhance the development of third party relations that are retained by the company by productive partnerships.
Engaging customers in the social media is done by Ray White through marketers is done through tweets, sharing, and blogs. The marketer's view of engaging customers is to respond to ideas, complaints, questions and inquiries. Marketers also engage to start conversations by asking questions, answering questions and responding to logically to critics. Sharing other people's content while knowing things that should not be done will keep real engagements.
The collaboration will retain the organization on the right track. It involves organizing content, overseeing and the making of correct schedules on various channels at a reasonable time. Collaboration tools enable Ray White marketers to clarify responsibilities, create content, track a campaign, monitor performance and enhance team performance.
Social media platforms being used by Ray White
Various platforms are being used by Ray White as regards to their availability, effectiveness, users, and competition levels in the real estate industry. The of the company a have always been matched with the platforms and the most suitable match put in use. Platforms in use are Facebook, YouTube, Instagram, Twitter, Pinterest, and Snapchat (Lepkowska-White, 2017).Facebook
Facebook has the widest reach of all the platforms used by Ray White. The platform has analytics that assists the company in the analysis of the effectiveness of a campaign. Reaching a particular audience has always been proved useful for Ray Limited due to its capability in targeting (Reshetilova, 2016). Using of new tools displays the message on top in the news feed, and this has been Ray’s greatest secret.Instagram
This platform I owned by Facebook, and it always proves useful using them concurrently. The number of followers on a post can be analyzed to find out the effectiveness of a campaign. The quality of content has assisted Ray White to build its brand name. Ray’s content posted a long time ago is useful at present time as the platform lacks sequent algorithm (Zhan Wanga, Hyun Gon Kimb, 2017).Pinterest
This platform has users with generally high income per head forming the most suitable channel to target clients in real estate. Content that is performing well is always boosted by pinning. A big part of Ray White’s brand is built by Pinterest.YouTube
Expertise financial advice is always done on the platform. It establishes honesty and trust in our brand keeping audience waiting for our daily posts.Twitter
This is the other brand builder entrusted by the company and is keeping it on top of the industry. Most business web visits are found to be linked from Twitter. Engagements with the audience is an analytics on the performance of a campaign.
I recommend Ray Limited management to have positive attitudes towards social media and use systems that are up to date as the audience are always moving ahead with the new developments.Marketers should know what is not to be done
Ray White is commanding the real estate industry and is positioned to put more influence on the audience in social media as compared to the competitors. Critics are bound to arise in every area as not everyone stands for the benefit of the business (Ditzel, 2017). Critics should be analyzed before response. Some critics are worth for enhancing control in the firm as they may be true. Untrustworthy critics should be handled with care.Conversion of fans and followers into customers
Most of the users of social media are inactive, and they can form a very broad market strategies are put underway to convert them into customers.The hiring of an experienced social media marketing team.
Social media is general a free marketing platform. Costs need to be incurred on expertise and time. Paid services and social media marketing tools will enhance the efficiency of Ray White Limited in the social media marketing strategy.Customer Relationship Management (CRM)
CRM will help business considerably. My recommendation is on the use of Chatbots which work for 24 hours a day and quicker. There will be a reduction in costs incurred by customer service personnel. CRM should create a human environment in attendance to customer issues because customers want to feel that they are talking to people and not the organization.Video content
There is an increasing trend in consumption of video content on the internet, and this offers an excellent opportunity for Ray White to follow suit (Ilona, 2017).
To conclude, I will encourage a strategy that will start with expertise to efficiently handle the process of listening, communicating, engaging and collaboration. The use of virtual reality to live content for video content and making of good relations with industry influencers. Knowledge that is up to date should be pursued as social media is changing each day. As consumers are not static, the company should provide compelling content that is required by the audience, and this is possible only when the right platform is used.
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