Are you stuck applying traditional marketing strategies to Web 2.0? If so, here’s how to shift gears and do more business with today’s Web-savvy consumer.

Former Realtor.com President Allan Dalton once observed, "The real estate industry has no trouble generating leads. Instead, the issue is converting those leads into closed business."

Currently, 48 percent of the Web leads go unanswered. Agents are frustrated by Web visitors who leave phony names on their registration pages or by those who aren’t ready to do business for 12 months or more.

The psychology of marketing on the Web is substantially different from traditional marketing. In traditional marketing, the focus is on "right-now business." If someone is thinking about buying or selling six months from now, they’re generally viewed as a poor lead. The agent may place the prospective client in a contact management system, but showing that individual a property is generally a waste of time. In contrast, prospecting for expired and for-sale-by-owner listings or working with referrals can put you in contact with those who want to transact business now.

The psychology of Web marketing is entirely different. The typical Web buyer or seller may begin the home-search process 12 to 18 months prior to moving. To cope with this situation, you must have a system to stay in touch on a regular basis or to motivate them to visit your Web site or blog repeatedly.

According to the National Association of Realtors, the median age of buyers in 2007 was 39. In fact, 60 percent of all buyers are now members of Gen X and Gen Y (those born after 1964). Baby boomers and traditionalists (those born before 1964) use e-mail, whereas Gen X and Gen Y use e-mail less. As a result, drip e-mail campaigns are rapidly losing their effectiveness. Gen X and Gen Y avoid spam by sending their messages through social networking sites such as Facebook, MySpace and Twitter. In other words, if you’re relying on a drip e-mail campaign to reach the bulk of today’s buyers, you’re missing a whopping 60 percent of today’s market. Even for boomers and traditionalists, most complain about the huge volume of junk e-mail that clogs their inbox. Your e-mail "drips" are just another part of the noise.

Implementing the suggestions above will allow you to reach younger consumers in a way that will have them visiting your Web site or blog on a regular basis.

Bernice Ross, national speaker and CEO of Realestatecoach.com, is the author of "Waging War on Real Estate’s Discounters" and "Who’s the Best Person to Sell My House?" Both are available online. She can be reached at bernice@realestatecoach.com or visit her blog at LuxuryClues.com.

***

What’s your opinion? Leave your comments below or send a letter to the editor. To contact the writer, click the byline at the top of the story.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×