Making social media sing with REO

Elaine Gantz Wright writes about optimizing social media, life, and spirit. Reach her at elgantz()yahoo.com

I have been on a unique journey that has definitely been broadening my horizons— drilling deeply into a real-estate-publishing niche focused on REOs—that’s “real estate owned” properties (not the eighties pop band) that have run the foreclosure gauntlet and are back in the hands of the financial institutions. This is a growing byproduct and reality of our struggling economy, which was so crippled by the once reckless heyday of sub-prime mortgage lending.

Yes, I guess one might say there in a murky dark side to this world—all the financial loss, property vandalism and deterioration, hassle, anger, anguish, shame, and lives in upheaval. But as there is a yin to every yang, REO sales actually provide a glimmer of hope for devastated neighborhoods and broken dreams—the promise of asset managers and investors who are committed to win-win-win propositions which involve neighborhood transformation, green renovation, and helping people live without the oppressive burdens of back-breaking mortgage obligations.

That’s where the REO Expo, June 6 – 9, and the Open Door Institute, a vibrant community for REO professionals, come into play.

I joined the mother ship, The LTV Group, about a month and half ago to develop a social media marketing strategy for the REO Expo and other corporate entities down the road. Other core businesses under the umbrella are REO Insider magazine and HousingWire magazines and LTV Creative. It’s been quite a ride—working with a talented and energetic bunch of folks, as well as a target market with a fiercely persistent, can-do work ethic. We are less than two weeks away, and the registration momentum continues to build. Here are the basics of the case study—with updates to follow.

REO Expo 2010: Social Media Strategy

Objective:
Maximize registrations for REO Expo and simultaneously—expand membership in the Open Door Institute, a new community for REO professionals, requiring dues ranging from $595 to $2995.

Key tactics:
• Driving consistent conversation and engagement activity on Facebook, Twitter, REO Pro Ning community, Linked In, and blog response. Monitor, engage, converse, and respond. In a little over a month, the Facebook fan (or like) page is more than 425-strong.

• Building a complete social media “ecosystem” across all marketing communications channels—with social media group icons inviting engagement on all outgoing emails, materials, and the REO Expo website.

• Launching a “Share Your Story” contest. The winner received free REO Expo registration, a 3-night hotel stay at the conference, and an invitation to the private reception with Emmitt Smith. The two runners up won free registration. We had some very disturbing REO tales, indeed, and interestingly, the site that provided the most involvement was Linked In—through postings on the various subject-matter interest groups.

There were many stories of persistence, accomplishment, and cast-iron stomachs, but our winner, Nelya Calev of Seattle, wove a particularly disconcerting yarn. You can read the whole story on REO Insider blog. Here’s an excerpt:

“Our guys re-keyed the house, and I went to take pictures for BPO. And as I was walking down the hallway when I saw F*&K . . . (name of the bank) written in large letter on the wall and punched holes next to it. Not a big deal, so I take pictures. There was spilled paint on the tile floor, fire place, and carpet. No biggy, right? I walked in to the master bedroom and he had little girls underwear framed on the wall . . . What kind of sick person does that? It scared the crap out of me . . . I went downstairs and he had a picture of . . . “

OK . . . I think you get the picture. Not for the faint of heart, right? She goes on to say she had to deal with crazy neighbors approaching every buyer and scaring them off. He had to babysit buyers and the buyers’ agents to get it sold.


And I thought I have had a colorful career!

The Campaign Results so far:
1. Registrations have increased almost twelve-fold since launching an integrated social media, e-marketing, and traditional materials/word-or-mouth marketing campaign a little over a month a ago—meeting and even surpassing expectations.
2. Open Door Institute Membership has almost doubled in the same time period.

Registration is online at www.REOExpo2010.com. Be sure to sign up sooner than later, because attendance is capped and the free classes that we’re being offered through the Open Door Institute and Default School are filling fast.

There’s more to come, and we will keep you updated. Or, why don’t you join us? For now, it’s time for me to fly . . .

One thought on “Making social media sing with REO

  1. Hi, i think that i saw you visited my blog so i came to “return the favour”.I am trying to find things to improve my blog!Is it ok if i use some of the things i saw here?!

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