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With the growth of social media and the emergence of online communities, we felt that it was important to have a presence in this space. Just as we decided to build a website several years ago, we more recently decided to create pages on Facebook, LinkedIn and Twitter.
Having the ability to communicate with an audience of engaged and interested people makes it much easier to broadcast messages. Several times a week, we post updates and we try to keep our posts informative and relevant. 1st Street is involved with dozens of charities each year and social media gives us an opportunity to help raise awareness for each of the causes. If news breaks, such as a Reserve Bank announcement or an economic policy update, we can relay this information to our page followers immediately. We currently have a team in-house to maintain and monitor our pages which directly reach over 10,000 online followers.
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Just as website search engines such as Google and Yahoo use algorithms to rank content to benefit end users, companies like Facebook also have algorithms which determine how valuable your posts are to end users. It is worthwhile having some insight into how these work. For example, if your posts are too sporadic, they lose ‘value’ and may not reach as many of your followers.
It is important to cater your posts towards your market and their demographic and preferences. We take care in what we post to our audience, and since we began our pages our following has grown quite rapidly. When our followers share and comment on a post, these posts then flow on to their friend and peer networks and this is often linked with a rise in our page followers overall.
Brokerages and brokers have varying attitudes towards social media and perhaps even towards specific platforms, but at this stage it seems that social media will become increasingly embedded in our daily lives and the lives of the next generation.
