96% Of All Real Estate Blogs Will Fail
Recently Global Research Center published findings that 68% of real estate agents are going to be focusing on blogging as a marketing tool in 2007. I find that number hard to believe. In essence that stat is claiming that there will be the emergence of more than one million real estate blogs launched this year.
As exciting a business opportunity as that would be for us real estate blog coaches, I don’t anticipate such a tidal wave of adapters. In fact, I don’t think that blogging will ever reach as high a penetration rate as 68% of active real estate agents. As effective as blogging can be as a marketing tool, it just isn’t in the cards for most.
Blogging is not the marketing tool of importance for most for these 4 reasons:
1. It’s Too Much Effort
Blogging is a major commitment and the blog’s success is a direct result of the dedication one has for it. There are no shortcuts to creating “killer content”.
2. They Don’t Recognize The Value
Every day I field call from agents looking to learn what the difference between a real estate website and a real estate blog. The value, once the curtain is pulled back, is undeniable and incredible… it’s the reasoning that it will work that is the catalyst for all the effort.
3. The Fear Of Failure
Taking a walk down Real Estate Blog Lane can be very intimidating. Top real estate bloggers are pumping out polished content at an unbelievable pace, making the goal of success seem nearly unattainable. “I don’t want to sound foolish” – “I wouldn’t know what to write” – “I’m just not comfortable with the idea.” All objections I hear everyday.
4. It’s Not For Everyone
A. If you have a business model that is working well for you, and it incorporates using the Internet as an effective marketing tool, there’s no real need to carve out the time in your already jam-packed schedule to commit to blogging.
B. First day on the job? Blogging to keep up with the Jones’s might be a little premature if you don’t have the experience to support your voice.
The worse news is that those who don’t let the above impede their dreams of running a successful business blog have the odds working against them.
I have no proof for the following statistical assumption, but I would certainly believe it to be true if it were presented to me. If running a successful business blog is akin to running a successful small business, then the following statistics could be recognized as relevant. In his world renowned opus, The eMyth, Michael Gerber makes the claim that 40% of all small businesses will fail in the first year. 80% will fail within the next 5 years. 80% of the remainder will fail within 10 years. Translation, 96% of all small businesses will fail within 10 years.
I couple business blogging with running a small business because they share the same foundations that determine their success: responsibility, commitment, focus, skill, dedication, vision, service, marketing and networking.
Now, replace “small business” with “business blog”:
40% of all business blogs will fail in the first year. 80% will fail within the next 5 years. 80% of the remainder will fail within the next 10 years.
Translation, 96% of all business blogs (started this year) will fail within 10 years.
What gets you in to the 4% club?
Trying to explain what gets you into the club is tricky because it certainly is a different path for all, so here’s a short list of what won’t:
The ‘Old College Try’
That said, there is a vein that runs among those that have experienced success with their business blogging:
Learning From Others’ Successes
Understanding The Audience
Social Media Marketing
Are you prepared to make the 4% Club?
Call us, and we’ll be sure to get you a seat at the VIP table.