Real estate businesses must make the most of the web or be left behind

On March 30, 2010 Twitter introduced trending, which enables users to see why a specific topic got to be a trending topic. Wikipedia describes “a trending topic is a word, phrase or topic that is posted (tweeted) multiple times on the social networking and microblogging service Twitter. Trending topics become popular either through a concerted effort by users or because an event that propmpts people to talk about one specific topic. These topics help Twitter and their users to understand what is happening in the world”.

It did not take long for Google to jump onto this modern-day phenomenon when it launched Google trends. When our Australian parliament sits Question Time #QT is a very popular trend, where anyone wanting to make a comment about what is happening joins in the conversation. Trending is the new go-to word to best describe an event that in turn shapes our opinion(s).

Next week’s inflation numbers will determine the Reserve Bank of Australia’s next rate move – the RBA has had a difficult task in 2011 balancing the cash rate given its projections that Australia faces elevated inflation over 2011, 2012 and 2013. So a string of good data might stop RBA from cutting rates, although the RBA has concerns for our subdued housing market. So when the inflation data is released this will become a trending topic as to what can be expected when the RBA the following week meet to discuss the cash rate – which in turn will become another trending topic.

It is little wonder that our politicians have concerns about the rise and rise of social media, where more often than not the social commentators can be scathing at their actions – #stoptheboats, #apple4S, #property, #stevejobs, #realestate, #carbontax, #auspol, etc.

It is just not social networking that is shaping our opinions online shopping keeps setting new records each month and it is just not because of the strong Australian dollar. The Australian Bureau of Statistics recently revealed that the total value of goods and services sold by Australian online stores in 2009-10 was $143 billion. This figure was up 15% on the previous year, and one would expect that this would be significantly higher again once the 2010-11 figures are released.

A recent report Australia – Digital Economy – E-CommerceTrends and Statistics – revealed “While Australia has experienced rapid growth in online shopping; the lack of local big brand retailers selling online is enticing shoppers to buy from overseas competitors. Industry commentators say Australia is several years behind the US and UK, and Australian consumers are voting with their wallets when it comes to shopping online. “

“ Meanwhile in early 2011 about 25% of mobile users are shopping online with their mobile, with eBay reporting that an item is bought every 15 seconds. The online economy is booming for some online markets with revenues up 40% in 2010.”

So it appears that today our decision making process hinges significantly on what is trending. This would explain why our business confidence trending in Australia is all over the place given we are suffering from information overload.

So what are the most popular online marketing trends in 2011?

Mobile internet usage

Online video

Twitter

Businesses actively pursuing facebook

Blogging

It is the mobile phone network that is the most completive, and BlackBerry’s outlook in Australia is looking not so bright (who would have thought?). The corporate market in Australia is pure gold, and the latest release by Apple with its iPhone 4S looks set to set new phone records. Last week BlackBerry customers in Europe, the Middle East, Africa, Latin America, Canada and the US lost emails and messaging for almost four days. Historically the BlackBerry has dominated the Australian smartphone market – although with the 4S release this should become the Australian market leader.  Telstra’s new 4G network is boasting internet speeds 25x faster than the previous 3G so the phones with the most apps – another trending example.

The online technology market in Australia today resembles a debate much like that of Holden versus Ford (which both now offer the latest technologies in their vehicles).

Today there is anecdotal evidence that some brands are being disconnected by consumers, so keep watching the trending – it’s fascinating unless you’ve been disconnected. I’m not surprised as many have been saying this would happen for years, whenI remember a quote back in 2000 – “Get e-based of get e-rased.”

Many Australian businesses are guilty of “I hear what you’re saying, but I’m not listening”.