Today’s REI Classroom Lesson
In the classroom today, Chase Thompson expresses the importance of sharing behind the scenes processes to increase engagement.
REI Classroom Summary
Chase talks about the importance of providing an easy to understand breakdown of information so that your audience grasps it and learns from it. It gives them insight into the complexities of your business and pulls their interest.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the FlipNerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Chase: Hey, guys. What’s up? I am Chase Thompson from the NoteMBA Podcast. Today we’re talking about how insights win in the REI Classroom.
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.
Chase: All right, guys. So last time we did the show, we talked a little bit about my top three tips for content creation, and this falls right in line with it, guys. It’s how insights can win in business. I talk a lot about this with my bigger clients that I do some marketing consulting with, but this is something that we as investors in real estate can really take advantage of, and it’s this idea that insights matter. Insights into business are a big deal.
When it comes to cognitive biases that people have, just period in general. Most people are only going to accept the things that they have availability in their cognitive bias for to understand. So when you provide insights about the business before you go rattling on about your rehabs or your note deals or whatever the case is, if they don’t understand, if they don’t have availability and knowledge for that, they’re not going to be able to understand what it is you’re talking about.
So you have to make sure that when it comes to your marketing, you’re providing insights into what’s happening in and around your world, so they have that availability from a cognitive bias perspective, to really latch on to what you’re talking about. You want to be complex, but not too complex. You want to go in depth, but not too in depth.
Now one of the cool places that you can go look at these types of things and we’ll dive into a little bit of what I’m talking about with insights, is if you go to Instagram and say, look at Taylor Swift’s Instagram. I was joking that this is one of my favorite topics to talk about because it’s two of my favorite things, Taylor Swift and the Kardashians, which isn’t exactly true, though Taylor Swift is amazing.
If you go look at Taylor Swift’s Instagram page and/or her Twitter, whenever she talks about things that are BTS, behind the scenes, when she shares photos before she goes on stage, when she shares photos on the tour bus, things like that, those are her most liked, her most commented, her most loved content. But granted, I understand she’s super famous and so am I, but you might not be, and that’s totally cool. These behind the scenes opportunities are the best ways to get engagement for these celebrities.
The Kardashians are the same way. Everyone wonders why they’re so magnetic. It’s the behind the scenes. It’s all that drama that we see all the time. We just get to see behind the scenes of someone else’s dysfunctional family, and we love it. Well, some people love it. I don’t really care, but it’s okay. It’s that behind the scenes. Those candid moments that are really going to change the game for these people, from an engagement perspective, from their fanbase.
Now what do we care about these for from investors? Well, our version of engagement is people’s “Dolla Dolla Bills Y’all.” This is when people are going to give you money because you’re expanding that availability in their cognitive bias to go, “Here’s what a rehab really looks like. Here’s a time lapse of a video in the corner behind the scenes of what a rehab looks like, or here’s what some of that nitty-gritty that goes on with our deals.”
If all you do was rattle on about all of your successes and you never ever, ever talk about any of the candid moments or those behind the scenes moments or some of those rhymes and reasons of why things happen, people are just going to think you’re blowing smoke. They’re going to think you’re a charlatan. A charlatan, I don’t know. That’s a really random word that probably very few people know the definition of anymore, but it’s okay. They’re going to think you’re that person because you’re not giving them any candid information. See what I mean?
So by providing these insights, these insights that you know about the business, to people that might not know it, it expands their understanding, it expands their knowledge. By the way, it’s going to expand your pocketbook because your engagement when it comes to these famous people, your level of engagement, the way that you can measure that, is how much money you’re bringing in from potential investors, potential JB partners, and things like that.
So when it comes to your marketing, when it comes to the things that you’re doing, make sure that you understand that insights win. Provide those behind the scenes, provide those candid moments. When it comes to a marketing perspective, the things you get the most engagement on, and those are going to be the things that turn the screws, turn the keys for most people, to finally give you money.
All right, guys. We’ll catch you next time.
Mike: HomeVestors, the We Buy Ugly Houses folks, is a franchise system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
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