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How the Internet of Things will increase Realtor revenues

The Internet of Things is not a lofty buzzword to be ignored, no, it will soon be the new metric to determine how “tech savvy” an agent is.

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As our world becomes increasingly connected through WIFI and Bluetooth technologies, real estate brokers should keep an eye on the Internet of Things (IoT).

The Internet of Things is a term describing the current and forecasted interconnection of all kinds of devices to the Internet and to one another.

Anything with an on and off switch can be connected to the IoT, including communication devices, household appliances, wearables, machine components, and more.

How is the IoT being used by companies?

Experts at the Gartner analyst firm predict that by 2020 there may be anywhere from 26 billion to over 100 billion interconnected machines comprising the IoT.

Another summer 2015 report, by the International Data Corporation, put IoT sales at $600 million and estimated an increase to $1.7 trillion by 2020 – and that data didn’t even count sales from desktops, laptops, smartphones, and tablets!

Marketers are now leveraging the IoT

A study by 2nd Watch released this July also reveals that marketers are beginning to leverage the IoT, and data collected from it, towards their digital marketing efforts. Over 500 marketing executives were surveyed about their usage of the IoT.

Six out of ten executives reported that they were using machine data (information collected from connected devices) and the IoT for digital marketing purposes.

Most, or 40 percent of the total respondents, said they were in the “beginning stages” of using the IoT, while another 19 percent said they were using it “very aggressively,” suggesting that many marketers are just getting started using the IoT, and if all goes well, will probably continue investing more and more.

Why are they using IoT data?

When asked why they were using IoT data for their marketing campaigns, about a third responded that they wanted to “better understand customer preferences.”

Others were using the IoT directly to communicate campaigns and promotions to customers, or to create “customer-facing web and mobile apps.”

A full 32 percent said they were engaging in all three of these activities, suggesting great potential for the IoT to be utilized in a number of different ways.

But were these efforts effective?

While 26 percent of respondents were satisfied that their IoT marketing efforts had met their goals, another 43 percent felt their efforts were “quite successful” for increasing customer engagement and demand for their products, and another 27 percent reported that using the IoT had proved “extremely” effective, and that they could quantify an obvious return on investment.

Overall, this adds up to a strong case for using the IoT for digital marketing, with the real estate industry being a burgeoning space for these technologies.

There are so few industries like real estate where practitioners touch so many potential IoT technologies, and using them to market, but further, knowing about all IoT options in homes is soon going to be the new metric regarding how “tech savvy” a Realtor is and will become a new path for revenues.

#IoT

Ellen Vessels, a Staff Writer at The American Genius, is respected for their wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when not writing, and has a passion for sustainability, social justice, and the arts.

Real Estate Technology

Secret list of reasons why your Facebook ad was rejected

(SOCIAL MEDIA) Save your marketing team time with this secret list of Facebook ad rejection reasons.

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facebook ad rejection

You read the rules, spent time optimizing target audience, double checked all the visual elements, and your Facebook ad is finally ready to go to market. You’re expecting the latest email from Facebook to be about billing details, and instead receive the dreaded (albeit common) rejection letter.

You’re left wondering how your your content have possibly violated the Community Standards. Turns out text like “Meet other seniors” or “Depression getting you down?” violates a “personal attributes” rule.

Directly addressing the user with terms like “you” or implications about identity like age, race, and gender aren’t permitted. So you remove that, only to find your ad rejected from the ad auction once again. There are hundreds of reasons the site can reject your ad.

You can quite literally spend hours pouring over Facebook’s Advertising policies, but we have a shortcut – Jane Manchun Wong put has together the most extensive list we’ve ever seen (click to enlarge).

facebook ad rejection reasons

Understandably, illegal content is rejected. You won’t find ads for drugs or counterfeiting services. Likewise, anything even kind of sexual or potentially offensive (like someone flipping the middle finger) violates the standards. No ads for mail order brides or anything the Bureau of Alcohol, Tobacco, Firearms and Explosives would regulate either.

Okay, so obviously you can’t advertise illegal things on the mainstream internet. Especially not when Facebook is asking users to respond to surveys about if the company is good for the world.

However, there’s some grey area once you move past obviously unacceptable content. QR codes, a popular ad novelty, are a reason for rejection. Likewise, if your ad features a picture of Mark Zuckerberg, it’ll get slapped down.

Feel like mentioning the spy cameras? Nope. Have an ad about lasers? Nah. Animals? DON’T EVEN THINK ABOUT IT. Oddly enough, Instagram references aren’t allowed either even though Facebook owns the company.

Although Facebook is trying to uphold their values about safety, voice, and equity, enforcement of these principles is often flawed.

Bra and underwear retailers struggle to get their ads approved even if the content is not sexual in nature. An ad by Harper Wilde, an online bra startup, featuring a plain bra on a colored background was rejected on the grounds that the link leads to a site featuring adult content.

Since Facebook rejects anything focused on a single body part or that is too zoomed in, exposed bodies on an underwear site certainly violate the terms. While Facebook is attempting to hold up a moral code of not offending users, implementation isn’t consistent.

Although Facebook technically has a link to appeal disapproved ads, users report the link is either broken, or returns an auto-generated response with no way to follow up with a person.

We can certainly appreciate that Facebook now bans the obnoxious “before-after” gifs of someone’s belly fat disappearing to the backdrop of a tape measure, and rejects blatantly offensive material.

facebook ad acceptable

Attempting to provide higher quality content that doesn’t shame or offend users is a noble goal.

But when everyday products can’t be advertised, and robots are enforcing grey area, it’s time for a better appeals process. At least now you know what not to include in your next Facebook ad, even if it is legit.

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Real Estate Technology

By now, all brokerages should be using Click-To-Call tech

Click-to-call tech is not just a sales tool, but an expectation of consumers, leading to a much healthier pipeline.

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click-to-call technology

Consumers are doing more and more online these days – but that doesn’t mean that the era of the phone call has ended. In fact, research is confirming that, when people are shopping or looking for a service, they often combine mobile web searching with a phone call to the business. Users first research the products online on their mobile device, then call the business to get more details or make the purchase.

That is why having a click-to-call option on your mobile website or app is more important than ever.

Invoca reports that 45 percent of all calls to businesses are inspired by a mobile search, compared to just 9 percent of phone calls prompted by a desktop search.

A study in the UK found that 94 percent of customers expect that your site will have a call-to-click option, and we would suggest the findings would be similar in America.

redfin-tap-for-help1

In a survey of 1500 mobile users, 42 percent of users reported that they had used click-to-call, usually because they simply wanted to speak to a real person. Needing a fast answer to a question, or wanting more information than was listed on the website were two other oft-cited motivations for using click-to-call.

And these calls aren’t just casual chats – more often than not, they are inquiries that lead to sales. Click-to-call phone calls last an average of six minutes, with a high rate of sales conversion.

Mobile phone call conversation rates are four times higher than desktop. Take pause to think about that.

While the benefits of having a click-to-call option are obvious, it’s also important to note that not having click-to-call could actually hurt your business.

The study found that customers are more likely to trust a business when they list a phone number; a business with an unlisted phone number makes customers suspicious and unlikely to buy. The aforementioned UK study found that about a third of customers will actually be frustrated, annoyed, or disappointed if you don’t have click-to-call.

With an estimated $1.94 trillion in sales coming from click-to-calls by 2019, there’s really not excuse not to have it.

This story was first published in 2016.

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Real Estate Technology

How deepfake images could infiltrate the market

(REAL ESTATE TECH NEWS) The rise in quality of deepfakes has even lead to the development of fake images in geography and housing. Here’s what to look out for.

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A digital map open on a computer, where one has to be wary of fake images.

With the onset of the computer age, we have seen a great deal of false information spreading around the world. From photoshopped images to presidents broadcasting fake information, there is a lot to be wary of. The internet is rife with data that truly needs to be verified at any given turn. The dangerous part is not only what people can do with that information, but also how they can hide things with it.

Satellite imagery has been on the rise for a few decades. An image that is already grainy and hard to see would be child’s play to alter. Maybe even to create from scratch. Tagging GPS coordinates are a simple alteration inside of photoshop too. Fakes, upon fakes, upon fakes.

In 2019, the US military warned about the possibility of fake geographical information being perpetuated across the internet. It then actually came true to the embarrassment of the Chinese government. Satellite “evidence” was used to report detention camps hidden away in the countries. The “camps” turned out to be re-education facilities for China’s mentally deviant populace. However, that’s another rabbit hole to run down. The point here is that the images that were released in 2015 showed absolutely no facility and then pictures in 2018 showed a massive facility.

An assistant professor, Bo Zhao, with the University of Washington decided to illustrate this again with a study. His opinion was “the first step to tackling these issues is to make people aware there’s a problem in the first place”. He and his colleagues published a paper on “deep fake geography.”

They conducted experiments in generating and detecting imagery for suburban homes, which clearly demonstrated the affect of this technology on our economy. They were able to easily convert the shape and layout of a neighborhood in their images.

From this work we have a few new terms to be aware of. Threats of “paper towns” and “trap streets” are two of the new resounding terms. These new ideas can lead to a modicum of potential issues. The team actually created a software that has the ability to create these fake images. They did the work themselves, leading one to believe that the basic knowledge is there for anyone with a little know-how.

The moral of the story is, don’t trust anything from the internet. It’s all an opinion coming from some other flawed human being, and you don’t ever really know why people are putting that information out there. Always know and check your sources.

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