Comments on: Does Social Network Advertising Scale?

By: Silence Dogood

Silence Dogood — Mon, 08 Oct 2007 09:51:38 +0000

ConsumerControl,

Don’t worry about offending me. Just trying to get the debate sharp. In fact, I just read Steve Ruebel (PR guy from Edelman) that debates Facebook is a bubble. Maybe it is–remember Friendster? So maybe the skeptics are right.

I also agree with you that food fight does not create mortgage leads, but it does encourage community activity and participation. That makes repeat eyeballs. And name brand foods are getting there names in that foray of food flinging. Maybe some one should write a whack-a-mortgage-broker Facebook app?

By: ConsumerControl

ConsumerControl — Mon, 08 Oct 2007 01:10:40 +0000

Silence,
I think we are on the same page. I wasn’t trying to do a drive by and by all means I meant no offense to your post.
My comment was simply to the point that creating a new community for one to discuss financial issues is going to have its issues getting off the ground. Bill had a quote in a recent blog post of his to this point (BTW, I agree with Bill, there is great opportunity). I just simply believe that virtual “food fighting” isn’t going to harvest more leads. Then again I could be completely wrong.
I think providing the network with the ability to rant or rave (see. Zuzzid [http://www.zuzzid.co.uk/]) and also empowering the mortgage experts with a voice (maybe something like Yahoo! Answers) would be a good start.
As far as social graphs, I think that can be interpreted many ways. This is a new frontier and I don’t think any of us can claim to be experts. I certainly don’t. But I am more than willing to stick my foot in the fire to learn.

By: Lead Guru

Lead Guru — Sat, 06 Oct 2007 21:18:36 +0000

Bill as always good to hear from you, miss being relevant. I will pay attention from here on out my friend.

By: Bill Rice

Bill Rice — Fri, 05 Oct 2007 20:41:47 +0000

Holy smokes! Look who has emerged.

Social networks get me business. Why wouldn’t it work for mortgage. Advertisers and lead generation companies that are not thinking about this are making opportunity for those who are.

By: Lead Guru

Lead Guru — Fri, 05 Oct 2007 15:55:39 +0000

Boys, Boys, Boys common. It’s been some time since I’ve left my mark on the site but here goes. I agree with Do-Good. As more and more consumers regardless of the vertical get older a meaner, leaner, younger consumer becomes our target. This younger generation RELISHES social networking and rumors, pictures, music and even advertising flashes across the net in micro-seconds (Techie term, – makes me an expert – LOL). The days of clubbing baby seals on the mortgage side is long gone. You MUST foster relationships and social networking is one way to do this. Long term thinking and consistency will prevail. Watch what the big banks are doing. They are reaching out to their client base with print, email, etc. to foster those relationships. Forrester research shows that these big banks get the majority of their clients from referrals and past business, don’t you think they will stay in touch with them via social N’s in the very near future? Anyways, that’s all folks.

By: Don't Use Geocities as a Social Networking Comparable | Rice's Riffs

Don't Use Geocities as a Social Networking Comparable | Rice's Riffs — Fri, 05 Oct 2007 15:15:17 +0000

[...] line of discussion (similar to Silence Dogood’s theft of my thoughts) was that I believed there is value, to a advertising platform, to figure out social networks and [...]

By: Silence Dogood

Silence Dogood — Fri, 05 Oct 2007 13:31:20 +0000

ConsumerControl,

I feel like I was in a drive by shooting. I think your comment was a general objection to my premise, but you left nothing valuable behind???

And your use of “social graph,” a mathematical term for the more common and understandable “network” pegs your attempt to be an “expert.”

I think you missed the point. I was not trying to figure out how to scale a community or social networks. I am pondering how to scale advertising and lead generation within existing social “graphs.”

Do you have any stray bullets, I mean comments on that?

By: Silence Dogood

Silence Dogood — Fri, 05 Oct 2007 13:24:08 +0000

Duran,

If you are a loan officer I always suggest a combination of LinkedIN and Facebook.

LinkedIN gives you a professional and public profile, much like the loan officer pages of old. This gives you a platform to quickly document your credentials and build trust, and Google likes LinkedIN.

Then Facebook. This allows you to create a more personable profile and collaborate within a variety of communities. I like this because it is square in the middle of the new market demographic–smart young people getting ready to start families and buy homes.

By: ConsumerControl

ConsumerControl — Fri, 05 Oct 2007 12:17:33 +0000

The building of community is key for any social network to have value, and fostering that community has a myriad of issues. Providing people simply the ability to vote on rates or play games is not enough to build a valuable community or to foster lead generation. There are vast existing social graphs on the internet that can be scaled to benefit the consumer and the lender.

By: Duran

Duran — Fri, 05 Oct 2007 04:51:57 +0000

Silence,
It sounds so easy but why is it so difficult to start? I guess I could almost answer that. It seems like uncharted waters, because I will be honest, I don’t fool around with that stuff. Am I too old?
IF you had a to pick one place to start where would that be?