This morning, Stephanie Armour penned a story for the USA Today entitled “Real Estate Agents Court Gen Y” on new tactics to drum up business during this seemingly unending housing slump. Housing starts dropped to the lowest level since 1991 in May, according to the Housing Department in this AP report, and the market does not seem to be picking up.
So, what are real estate agents doing to adapt? According to Armour, they’re targeting those in their twenties, who have just graduated college and are beginning their careers, perhaps gotten their first salary and are ready to put down a mortgage in this buyers-market. And how are real estate agents targeting them? Facebook!
Fading are the days of direct mailings, classified ads and billboards. To get to this ever-important consumer base, marketers are going digital: Facebook, MySpace, LinkedIn, YouTube – all online. As the technologically-gifted youths grow into the technologically-savvy adult population, with fewer children to feed and more cash to spend, advertisers are hitting their computers to create fancy internet ads and eye-grabbing social networking pages.
No doubt this will translate into digital recruiting efforts in the workplace. Employers are going to have to beef up their web presence, possibly on these growing social networking sites, to stay competitive for the best talent. Job seekers are increasingly turning to the internet, if not completely, and using web tools that are already available and are already very popular among the entry-level age group can only greatly benefit hiring companies.
Have you used social networking sites as recruitment tools? Could you see your company using this technology?