Categories
Entrepreneur Tips and Discussions

Advice on social media advertising

I am very new to this. Im a college dropout and I still have no clue what I want to do in life. I just turned 21 years old. Recently, I was contacted by a wealthy family member with a proposal. She wants to start advertising her new home search engine real estate buisness. She wants to compete with sites such as Zillow and Redfin. Within 6 months, she wants her buisness booming and well known through social media platforms such as facebook and instagram. The thing is, this is a once in a lifetime opportunity. However, im not sure how I can make a company like this grow through advertisement with no prior knowledge on advertisement. How would I go about this with this specific type of buisness proposal? Im willing to do the research but im not sure where to look.



View Reddit by UberPootis69View Source

2 replies on “Advice on social media advertising”

>I am very new to this. I’m a college dropout and I still have no clue what I want to do in life. I just turned 21 years old. Recently, I was contacted by a wealthy family member with a proposal. She wants to start advertising her new home search engine real estate buisness. She wants to compete with sites such as Zillow and Redfin.

This is sounds like a recipe for failure. 1/ if you’ve never done something before you’re most likely going to fail at it. Let’s give you the benefit of the doubt and assume that you pull it off… There’s that possibility that 2/ you’re marketing a business you don’t really understand well enough which increases failure points. Not that failure is bad a thing, but the last thing you want is to fail when there’s so much at stake!

> Within 6 months, she wants her buisness booming and well known through social media platforms such as facebook and instagram.

3/ This objective is feasible, but subject to tough conditions. Are its target audience even on FB and IG to begin with? Are there any historical conversion rates you can use to extrapolate revenue? Is there a brand recall you could take advantage of?

>The thing is, this is a once in a lifetime opportunity. However, I’m not sure how I can make a company like this grow through advertisement with no prior knowledge on advertisement.

The odds of pulling it off are pretty steep, if not next to impractical.

>How would I go about this with this specific type of buisness proposal? I’m willing to do the research but I’m not sure where to look.

Be frank with your relative. Tell them they’re asking for a lot from you. Advise them to visit a professional who has relevant experience and skills to help them map their goals.

I’m just here to say: Always proceed cautiously in business arrangements with family members. If you value that relationship, just remember the risks that come when money is involved.

But I also want to offer something productive here: If she really is interested in partnering with you on a business venture, then you can show her your value by showing her what alternative business models might actually be more feasible and have traction in the market. Figure out why she sees market inefficiencies with Zillow and Redfin, and the dozens of other home sale search engines, and then give her reasons why a different type of business might actually be better, particularly if she wants traction on social media. If she remains steadfast in a type of business you just can’t figure out how to promote or don’t see success in, you can always walk away.

Leave a Reply

Your email address will not be published. Required fields are marked *