More than 51 percent of home buyers found their home on the internet, according to a 2017 study conducted by the National Association of Realtors. Less than 1 percent of home buyers found their home via a newspaper ad. These statistics show how vital internet advertising is to just about any real estate business.
With so many options for internet advertising, how do you know which is the right choice for your business? One of the best advertising platforms for real estate investors is Facebook.
More than 2 billion people use Facebook every single month. Many businesses have found great success with Facebook ads. Homesnap, an app developer for real estate agents saw a 7X return on ad investment when using Facebook lead ads to promote homes. With the help of Facebook Ads, Homesnap helped one agent increase yearly commissions more than $31,000 a year and generate 184 new leads. Online job recruiter Employment Hub also had great success with Facebook Ads. The company saw an increase in revenue of 9 percent per day during the Facebook Ad campaign. They also experienced a 43 percent decrease in cost per lead compared to previous ad campaigns.
What Makes Facebook Ads So Great For Real Estate Investors?
Facebook advertising and real estate investing are a match made in heaven. Here is why.
You Don’t Need A Large Budget
If you are a new real estate investor, then you likely don’t have a huge budget for marketing. Even if you are well-established, you probably want to get the most return for your advertising dollars, and Facebook Ads let you do just that.
You can run Facebook Ads on absolutely any budget. Many Facebook Ad campaigns cost less per day than a cup of coffee at Starbucks. You have complete control over how much you spend. You decide what your budget is and edit it anytime. Plus, with Facebook Ads, you pay for only what you want. You choose your objective, whether it is conversions or impressions and pay just for that. You can also set a bid, which is a maximum amount that you are willing to pay when someone sees your ad and then takes action.
Facebook Lets You Customize Your Audience
Facebook lets you connect with the people that you want. You can target the right people for your business. Facebook offers several ways to select your audiences:
- Lookalike audiences – Using what you know about your customers, you choose people to connect with that have similar interests, behaviors, and demographics.
- Core audiences – Manually select your audience based on things like age and demographics.
- Custom audiences – This option allows you to custom-pick your audience. You can target your ads to people you already know — maybe past customers or people who have downloaded your app.
If you are not sure who your audience is, Facebook Ads can help you identify them. The Audience Insights feature helps you learn more about people who are clicking on your ads. You can find out their interests and behavior and determine why they might be interested in your business. These insights are invaluable.
Facebook Ads Are Mobile Optimized
Mobile use has grown significantly in recent years. People use their mobile devices for everything. To reach your customers where they are, your ads should be optimized for mobile use. The benefit of Facebook Ads is that they work on almost every device and connection speed — you’ll get stunning results whether you are using videos, text or photo content.
You Can Get Insights Anytime
Imagine that you are away from the office and want to find insights on your customer’s behavior. Maybe you are on a business trip and need to do a presentation for marketing. Let’s say you need to find out how often people who are looking for a property search their phones for listings. With Facebook IQ, you can find insights easily whether you are in the office or another part of the world.
Getting Started With Facebook Ads
Here are some general tips to help you run your Facebook advertising campaign.
#1 Choose Your Audience
Using Facebook’s audience tools that we talked about above, select your audience. You can choose customers most likely to move within six months, those who have inquired about mortgage loans recently or some other characteristic. You can narrow your audience down even more based on zip code or age.
#2 Make Sure Your Ad Copy Stands Out
Your ad copy is just as important as videos and images when it comes to ads. Your ad copy must speak to your audience and complement your photos. Writing ad copy is a bit of a science and art. Therefore, it can be helpful to choose a marketing company to help you develop a compelling ad copy to accompany your videos and images.
#3 Consider Carousel Ads And Video
Facebook’s Carousel Ads are perfect for real estate investors because they allow you to show photos or videos of multiple rooms in one property or even multiple properties at one time. You can showcase up to 10 images or videos at one time with a carousel ad. Plus, each ad has its link. If you want, you can even choose to let Facebook optimize the order of your images based on each image’s performance.
#4 Learn Basic Photo Editing Skills
Photos are essential when selling a home or property. Today’s smartphones take great pictures. Many phones have advanced photography tools that rival professional DSLR cameras, but you must know how to use them. So, take some time to brush up on smartphone photography and editing apps and tools like VSCO, Mextures or Snapspeed.
#5 Highlight Your Customer’s Good Experiences
Every Facebook Ad campaign should include customer testimonials or reviews. These help to instill trust in your services. While you can go on about how great your services are, it means much more when the gleaming praise comes from a non-biased third-party. So, let your happy customers do the talking for you.
For help getting started on creating your Facebook Ads, contact us today. Gain an advantage over the competition with professional Facebook advertising.