Create buzz and develop your relationships
Online networking and trust discussed at the CREOpoint member breakfast hosted by the California Real Estate Journal
An impromptu meeting of CREOpoint members was kindly hosted by Michael Gottlieb, editor of the California Real Estate Journal (CREJ) as CREOpoint founder JC Goldenstein was back in Los Angeles on February 19, 2010. The discussion centered around what people liked and disliked about networking platforms.
Networking
In tougher times, professionals have to extend even more their personal digital branding and improve their networking. Attendees explained how these platforms help them reach out further faster cheaper than traditional outbound marketing. Like at the January CREOpoint member breakfast in London, the question was not any longer « should we network online? » but « how do I maximize my time on various platforms without making mistakes»? We discussed the difference between open broad networks Vs. exclusive and industry-focused
communities.
LinkedIn advantage is that with 50 million subscribers one can find the background and contacts of target clients. However attendees felt like it was not an environment where they felt compelled to share all or some of their precious Rolodex (« too many people looking for jobs », « annoying friend requests from people I don’t know »). Although some LinkedIn groups are lively it was noted that 2/3 of US companies were blocking LinkedIn as employers don’t want people to look for a job on their watch.
CREOpoint was seen as:
- Exclusive: one needs to be invited and vetted before becoming a member
- Industry-specific: founded by CRE professionals to help CRE professionals succeed in tough times
- Global: works in 13 languages (e.g., allowing promotion to Foreign investors looking to invest in California LA and San Francisco are in the Top 5 markets ofinterest to investors surveyed by AFIRE).
FaceBook was not discussed much as the main benefit is social and possibly for recruiting younger people: « not suitable for professional interaction», « I would not mix horoscopes and my business »
Since most websites are not interactive enough, a Networking button can easily be added. Visitors who click on it are directed to a FaceBook fan page or a branded iForum on CREOpoint like the magazine Commercial Property Executive did.
Intelligence
Attendees expressed their hunger for « quality content free of interruptions from have nots. » The above platforms can also be used to « find quick info, breaking news or insights to help get business, new capital or better project the future ». They can also be used to « push content ». Attendees noted the contrast between self promotion in the groups of less private online networks and « quality posts on more exclusive forums.
distribution channel.
Attendees all agreed they already suffered email inbox overload. Since CREOpoint is often asked for solutions to this growing problem, it has developed a way to filter content and prioritize sources. It takes into account the blog rolls and direct links within the comprehensive (3,500) and relevant CRE sources like press feeds, websites, blogs, Twitter, Yahoo forums, LinkedIn answers and network updates, FaceBook Fan Pages and group walls, YouTube and Digg. CREOpoint and other data mining tools are now allowing people and organizations to regain control of their online reputation while cutting marketing expenses.
The importance of developing trust
We discussed the importance of trust as some people are being burnt by:
- The US government (« disregarding the free market »)
- Wall St/CMBS (« lack of transparency »)
- Special servicers (« half a dozen of them have 2/3 of the bad loans »)
- The CRE industry (« major leaders are worried this will prevent the best students from entering our industry and
cause a major problem down the road as many people are retiring. »)
- Purely social networks (lack of privacy, too many « have nots »)
We discussed the Trust Equation from author Charles Green where :
Trust = Credibility x Reliability x Proximity /Lack of Self Interest
Michael Gottlieb forecasted that quality content would have to come at a price at some point (increasing the reliability factor). JC Goldenstein agreed and noted that he was working on the proxomity factor thanks to CREOpoint breakfasts. Members enjoy meeting face to face in addition to on a safe/trusted online platform.
For example the next member meetings will be in March at the MIPIM International Property Market (France) as well as in London.
Networking and trust: What are
your views on quality Vs. quantity?
Best,
Mary Beth
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