Real Estate Marketing Defined: Targeted Facebook Advertising
The top agents who generate Facebook leads work hard to improve their campaigns. They create lots of website content to share. They measure their results. They try new approaches.
Over time, the fruits of their labor — high-quality prospects — emerge.
If you’re starting out with real estate Facebook advertising, you’re in luck. Continue reading to discover how you can get set up with your ads strategy and earn more business over time.
“Many of my agent friends use Facebook ads for real estate. What’s all the fuss about?”
In short, real estate Facebook advertising is an outstanding way to earn more leads. The reason why is simple: You can reach the audience that matters most.
Every agent’s audience (or buyer personas) differ. Some go after wealthy mansion-seekers. Others strive to help first-time homeowners.
Whatever your niche, you can connect with your audience on Facebook through your ads. The secret is using Facebook’s countless targeting options to your advantage.
Take a look at the social network’s many targeting options in the video below. You’ll get a quick walkthrough of the platform’s Ads Manager, which is your home base for ad setup.
As you can see, there are quite a few options to help you reach one or more audiences of your choice.
Run several ad campaigns with different targeting options to start. Then, after some time, you’ll know which work best.
That’s why your fellow real estate associates rave about Facebook. When set up and executed well, Facebook real estate ads work wonders for your lead generation.
Now, that’s not to say it’s the only real estate lead generation game in town. In fact, it’s far from it.
Facebook’s growing reputation as an optimal lead gen avenue is certainly warranted. But the reason other agents (some you may know) thrive with their ads is their websites.
Having numerous real estate website pages you can promote with your Facebook real estate ads is essential. Without this content — community pages, blog posts, listings — you’ll have little to promote.
Top producers flourish with Facebook real estate ads due to their digital presence. So, optimize your IDX website before delving into targeted ads on the social network.
“Hmm, interesting. What are some essential Facebook advertising best practices I should know?”
We’d be lying if we said there weren’t a few dozen best practices by which you should abide. The good news is they all become second-nature after enough “practice” with your ads.
Let’s start with the most basic real estate Facebook advertising tips. These are the core best practices for the pre-launch period:
- Learn the platform inside and out, before all else. As with any marketing and sales software, familiarization is key. Take the full Ads Manager tour. Discover how to select ad types, budget and schedule campaigns, and analyze performance.
- Consider your ad objectives. Do you want to enhance brand awareness? Are you looking for more traffic? Or do you want to boost lead gen right out of the gate? Think long and hard about your goals, then select the best ad development road to take.
- Audit your agency website to determine what you can advertise to start. Listing photos and videos, brand explainer videos, and social proof assets are ideal. Having said that, the list of assets you can promote via Facebook real estate ads is long.
Remember: These are best practices for beginners to Facebook real estate advertising. You’ll understand how to start each campaign from scratch the more you use the software.
After a month or so, you can kick your real estate Facebook ads up a notch. Once you’ve tested a handful of “A” campaigns, you can experiment with “B” campaigns.
The notion of A/B testing for your marketing may seem foreign. It’s not that crazy of a concept to comprehend, though. In fact, it’s as simple as a) selecting variables to test, then b) comparing your data.
Comparing one campaign against another allows you to gradually amplify your advertising efforts. Think of it this way:
- If one campaign outperforms another during a test, you know to rank the better one moving forward.
- If both campaigns underperform, you know more work is necessary for your real estate ads.
- If both campaigns perform well, you can stick with the best of them or run them again to determine which is best.
Split testing won’t always provide data necessary to build high-converting campaigns. Sometimes, though, you’ll get insights that can better your campaigns.
Once you’re a couple of months into your Facebook ad adventure, you won’t feel like such a beginner anymore.
More importantly, you’ll have the confidence needed to spend your precious ad spend more wisely.
This is as vital in the long run as it is to know (and know how to leverage) Ads Manager’s many bells and whistles.
“Targeting seems hard. How can I set up my first campaigns (or get someone to do it for me)?”
Let’s assume you’ll be handling your real estate Facebook advertising … for the time being, at least. You’ll want to be able to reach your potential customers and no one else.
Sure, getting in front of countless people in your market can help with branding. Most of these folks won’t convert or help with referral generation, though.
Thus, your ad dollars are better spent geared only toward prospective clients. And that’s where Facebook Ads Manager’s best-in-class targeting options come into play.
As the video and graphic above show, you can narrow down who could feasibly view your ads to very niche audiences. For instance:
- If you want to connect with high-earning home buyers who live in your state, you can create those ad settings.
- If you want to get your ads in front of sellers who have viewed or liked your Business Page, you can target them as well.
- If you’re looking for Millennial renters in your market, your ads can only appear to them.
It’d take us days to tell you how many ways you can use targeting to your advantage. The point is this: Once you know who you want to work with, gear your ads solely for that demographic.
After this is ready to go, you’re ready to launch real estate ad campaigns that earn you more traffic and leads.
Now let’s take a step back and assume you’re in the opposite situation. You want to advertise on Facebook, but you don’t want to handle campaign setup and analysis.
If you’re like more agents, time is your most valuable asset — meaning you can’t afford to waste any of it.
Just because you can’t allot time to real estate Facebook ads, though, doesn’t mean you can’t get someone to do so for you.
Many real estate marketing services firms‘ sole purpose is to run Facebook ads for agents. Some serve multiple brand and industry types, and these are great options.
But if you want someone who understands how to generate leads for agents like you, you want a real estate marketing expert (or team of experts).
Having proven pros set up, optimize, run, and measure your campaigns is invaluable. The cost will exceed what you’d pay running ads yourself.
The “right” real estate Facebook advertising service will help with:
- Picking your brain to understand who you want to target and what you want to promote.
- Suggesting specific site pages to share in ads and content to create to share in the future.
- Determining the exact amount of ad spend to divide between your various ad campaigns.
- Launching, tracking, and enhancing your campaigns and updating you on their progress.
- Tinkering with your existing ad audiences you target and pinpointing new ones to reach.
- Retargeting your ads to your real estate website visitors with the Facebook Pixel.
Having said that, if you just don’t have the hours each week to launch and monitor campaigns, this is your best bet.
“Sounds great! So what words of wisdom do you have for my real estate Facebook advertising?”
Real estate Facebook advertising is a moderate-risk-huge-reward approach. Few agents who commit to the tactic regret their decisions. Those who do, more often than not, made some mistakes with their Facebook advertising mistakes with their Facebook advertising.
Our advice is simple: Be ready to spend a fair amount of money over the course of several months on Facebook. As with search engine optimization and email marketing, you’re playing the long game.
Some top-notch leads may come in as early as your first campaign. Most likely won’t arrive in your CRM until your 10th or later. It all depends on you setting up your campaigns accordingly or hiring someone to handle that for you.
The average click-through rate on Facebook real estate ads in one study was 1%. Get your ads in front of your entire market, though, and that 1% could mean dozens of leads.
Nurturing the prospects you earn from Facebook is on you. But you can’t nurture leads if none come through the digital door. Get going with your targeted ads on the social network ASAP, and you’ll be one step closer to closing more business.
Check out our real estate Facebook marketing webinar today to enhance your lead gen.
Published on September 6, 2017
Written by Matthew Bushery
I'm the Sr. Content Creator for Placester, where I educate real estate professionals about modern marketing and, in turn, help agents and brokers make the most of their online presence, earn more traffic, and generate more leads and business.