Podcast Summary
Building a scaled reputation through content creation on social media: Create value on social media to attract leads and grow business in mortgage and real estate industries
Building a personal brand, or reputation, is essential for professionals in the mortgage and real estate industry, even if they didn't grow up with social media. Gary Vaynerchuk emphasized that reputation is the key to success in these industries, where word-of-mouth referrals are still common. He encouraged those who find the concept of personal branding unnatural to reframe it as building a scaled reputation through content creation on social media platforms like LinkedIn and Facebook. By providing value and understanding where customers' attention is, professionals can attract leads and close deals, just as traditional businesses did by being the first listed in the yellow pages. For those unwilling or unable to put in the work, technology is not the enemy, but rather an opportunity to reach a larger audience and grow their business.
Embracing Change and Adaptability: Staying relevant and adaptable in a rapidly changing world requires understanding the value of contextual communications, building communities around interests, and embracing new methods in personal and professional life.
Learning from this podcast conversation between Abby, Gary, and Phil Treadwell is the importance of adapting to changing times and embracing new methods in both personal and professional life. Phil emphasized the significance of building a community around one's interests, and Abby discussed the need to understand the value of contextual communications at scale in the modern world. She also shared her experience with direct marketing and social media advertising, highlighting the importance of doing it right and not blaming the platform for lackluster results. Additionally, they touched on the resistance from traditional industries to learn new skill sets and adaptability, using the mortgage industry as an example. Overall, the conversation underscores the importance of staying relevant and adaptable in a rapidly changing world.
Embracing the Challenges of Business Ownership and Leadership: Success in business requires embracing challenges, handling criticism, and adapting to the evolving media landscape, especially the rise of OTT platforms.
Being a business owner or taking on a leadership role comes with its challenges, much like being a firefighter. You'll face obstacles and criticism, but the potential rewards are significant. Embracing the responsibility and learning to handle the pressures are essential for success. Additionally, the streaming industry, with the rise of OTT platforms, is dominating the media landscape, and ignoring it could put businesses at a disadvantage. As Gary Vaynerchuk emphasized, you have to be willing to put in the work and face the criticism to achieve the accolades. It's not about the hours you put in, but rather your ability to handle the stress and scrutiny. Ultimately, if you're not prepared for the challenges, consider being an employee instead. However, keep in mind that even as an employee, you'll still face challenges and may not have the same level of control or recognition.
Listening to consumer feedback drives business growth: Focusing on consumer value outperforms competitors, even with lower fees or unique branding. Adapt to changing consumer preferences for long-term success.
Providing value to customers is the key to success in any industry, including mortgage and real estate. The speaker emphasizes the importance of listening to consumer feedback and staying attuned to their interests to drive business growth. They believe that by focusing on value, they can outperform competitors, even if they offer lower fees or unique branding opportunities. The speaker's success is rooted in their commitment to understanding and addressing consumer needs, rather than being swayed by external factors or pressures. They caution against getting stuck in outdated mindsets or seeking validation from sources other than the consumer. Ultimately, the ability to listen and adapt to changing consumer preferences is essential for long-term success in business.
Maximizing Business Opportunities through Facebook Groups: Engaging in local Facebook groups as an active member can lead to more business opportunities than traditional community tactics. Authentic conversations and effective time management are key.
For real estate mortgage professionals looking to expand their online presence and reach a larger audience, focusing on community engagement and participation in local Facebook groups is crucial. This strategy can lead to significantly more business opportunities than traditional community tactics like joining the chamber of commerce or sponsoring local events. The speaker emphasizes that being an active member in these online communities and engaging in authentic conversations is key, rather than spamming or self-promotion. Additionally, he encourages professionals to make use of their free time effectively by engaging in online communities instead of wasting it on non-essential activities. Overall, the importance of embracing digital community engagement in addition to traditional community building tactics cannot be overstated for growing a successful business in today's world.
Focus on results, not just being busy: Strive for a balance between productivity and happiness, focusing on work that brings both financial and emotional returns. Consider the ROI and ROE of tasks, and the LTV and CAC of customers.
It's important to focus on results-driven work rather than just being busy. The speaker emphasized that working long hours doesn't necessarily mean being productive. In fact, during those hours, one might spend a significant amount of time on non-work activities. Instead, it's crucial to find the balance between work that brings returns on investment (ROI) and returns on energy (ROE). The speaker also touched upon the distinction between marketing and sales, suggesting that many people misunderstand the two. While marketing is about getting attention, sales is about closing deals and making customers. The speaker cautioned against being too focused on the number of sales and neglecting the long-term relationship with customers. Instead, it's essential to consider the customer lifetime value (LTV) and the cost of acquiring each customer (CAC). Ultimately, the key takeaway is to strive for a balance between productivity and happiness, focusing on work that brings both financial and emotional returns.
Building long-term business relationships: Sending thoughtful gifts and personalized cards on business anniversaries creates a lasting impression and leads to future referrals. Authentic communication and understanding shared interests increase chances of finding relevance and building stronger relationships.
Building meaningful relationships in business goes beyond just making a sale or closing a deal. Sending a thoughtful gift with a personalized card on the anniversary of a closing can create a lasting impression and lead to future referrals. This approach shows that you value the human connection and can lead to more authentic interactions. Additionally, the importance of relevance in communication cannot be overlooked. Instead of focusing solely on building trust, it's essential to understand the other person's interests and make connections based on shared experiences or common ground. By being authentic and showing every part of your life, you increase the chances of finding relevance and building stronger relationships.
Stay true to yourself and build a community around your passions: Authenticity and sharing personal stories can help you connect with clients and build a loyal following in the mortgage industry. Use various platforms to reach out to your audience and stay focused on your interests.
Being authentic and building a community around your passions is key to success in the mortgage industry. Sharing personal stories and relatable experiences can help you connect with clients and build a loyal following. Stay true to yourself, stay focused on your interests, and use various platforms like LinkedIn, YouTube, and Facebook to reach out to your audience. Don't be afraid to learn new skills and technologies, but don't let the industry's audacity and competition discourage you. Keep producing content consistently and authentically, and your efforts will pay off. Remember, your followers appreciate your truth and authenticity, so don't be afraid to be yourself. Google is a great resource for learning new skills and techniques, but the most important thing is to stay true to who you are and what you love.
Connecting with younger audiences on TikTok: Be present on platforms where your audience is most active and create authentic, resonating content.
TikTok's relevance to younger generations allows for a deeper connection with content and creators. The speaker initially overlooked TikTok, but once his daughters discovered and engaged with the platform, they appreciated and consumed his content on a new level. This demonstrates the importance of being present on platforms where your audience is most active. The speaker also emphasized the value of authenticity, expressing his true self without worrying about external validation or competition for attention. In the end, the goal should be to create content that resonates with your audience, regardless of the platform or format. And just in case you missed it, don't forget to check out wine text.com!
