In today’s world of remote work and digital interfaces, social media is essential to finding success. Research shows that in 2020, records indicated that there were roughly three billion social media users around the world, nearly 10% more users than in previous years. That makes up almost half of the entire world’s population.
The average social media user spends an incredible amount of time logged in daily, engaging with their favorite posts and stories, following influencers, and creating content. In 2019, the average social media user spent 144 minutes online engaging with social media, every single day. Beyond just providing a vast network of communication and social interaction, social media has become a lucrative playing field for every industry.
Real Estate Leaders Using Social Media for Business
Today’s social media users scour their Instagram or Facebook feeds for the latest and greatest in retail trends and services. They turn to YouTube for advice on how to do anything from fixing a car to buying a house. Twitter provides as much information as the city newspaper, and Pinterest serves as an inspiration-gathering board, much like the pre-internet shared scrapbook or collage.
Real estate influencers like Ricky Carruth have found social media to be the perfect vehicle for driving forward new business. Carruth, a real estate agent from Alabama, regularly sells over 100 properties each year- and has since 2014. His 31,000 followers on Instagram know him as a real estate coach and speaker, but this second business and active social media presence gives him a huge audience. And with more followers legitimizing his success, Carruth capitalizes on his online popularity to engage with more real life customers.
Real estate investor Max Maxwell, meanwhile, uses YouTube to broadcast his knowledge and skills in wholesale investing. Maxwell’s YouTube channel is full of advice based on experiences for new real estate wholesalers. He also hosts a podcast for others in the real estate industry. Maxwell has nearly 230,000 subscribers to his YouTube channel, and this impressive online popularity affords him the flexibility to approach clients in any field.
A Powerful Force
The power of social media is such that even a simple Tweet can radically alter longstanding institutions such as Wall Street. Take, for example, the recent Wall Street snafu involving a tweet by Elon Musk.
When Musk, one of the richest people in the world and on track to become the world’s first trillionaire, sent out a simple tweet that read “Use Signal," investors scrambled to purchase shares of Signal Advance, a Texan tech component manufacturing company. Shares of Signal Advance increased by 6350% over just three trading sessions. But Musk had, in fact, been referring to Signal, an encrypted messaging app developed by a nonprofit company.
One simple, slightly ambiguous reference on social media was enough to spark this buying frenzy. The incident serves as a strong reminder of the power of social media to drive new business.