If you’re not doing Facebook ads for lead gen–you should be!
After extensive research of all lead-gen advertising platforms (including Google PPC, Facebook, Twitter, LinkedIn and more) the strong heavyweight is Facebook ads. While many Realtors are or have tried Facebook ads…many aren’t doing it strategically. Don’t feel bad–we couldn’t sell a house to save our lives; we’re good at website and lead gen.
Most Realtors we talk to are using the same strategy when it comes to Facebook ads…they are either boosting posts or doing ads in the Ad Manager, and the ads are listings, open houses, ‘Hi I’m a Realtor, Call Me’—or home evaluations (but much like many of you, if we see another home evaluation ad I’ll jump out the window).
Our strategy however is more about selling yourself as opposed to learning something about them (like how you can help!) …which is a the more authentic type of advertising that people are looking for online now.
Our ad strategy that focuses on a few things:
#1. It uses the Facebook Lead-Gen ad type to create a customer acquisition cost.
#2. It leverages the Facebook Lead Generation Ad Type in the Facebook Ad Manager to churn out leads
#3. It focuses on the pain point of a demographic.
#1 Lead and Client Acquisition Cost
The Facebook Lead-Gen ad type will rock your world! Many Realtors are currently doing ads based on views, likes and clicks—but at the end of the day if it doesn’t get you people to talk to, then it isn’t productive (as it doesn’t offer ROI). The lead-gen ad type has you paying for what matters…leads to call.
Over the course of a few months you’ll get your average cost per lead, which you can multiply by how many leads you call to turn into a client. For example, if your average lead cost is $5/lead and you convert roughly 1 in 50 then your client acquisition cost is about $250. You then know that you can build your pipeline based on this number. If you spend roughly $250—and then call the leads!—you’ll get a client. If you want roughly 2 clients each month you need to spend $500.
#2. The Lead Generation Ad Type
Facebook’s Lead Generation Ad type is an ad type focused on what you want—leads. So instead of getting views, likes and clicks (which at the end of the day don’t matter if you don’t get clients) you get leads.
This ad type turns people into leads right on Facebook, without the need for an external landing page. This is helpful because you don’t need to build a landing page, you don’t pay for clicks who never become leads, it often autofills with their correct contact information, and people have more implicit trust with Facebook than they do with your landing page or website—so the leads tend to offer correct phone numbers.
#3. Demographic Pain Point
Using the pain point of a specific demographic works because it captures people’s attention, gives them a soft in (‘click here for more information’…not ‘call me and book an appointment’)—but most importantly gives you information about a problem they’re having that you can solve for them! And they way that we look at business, if you can solve someone’s problem you’re significantly more likely to get their business.
So, what is a pain point of a demographic? Well the pain points are different for each demographic (and can be different in different geographic markets), but here’s a couple examples:
• Upsizers—late 20s to early 40s with children between roughly 5-12—their pain point is that they may still live in the first home they bought, which was probably whatever they could afford at the time, but their family is bigger now and the kids are driving mom and dad nuts due to space constraints. An example ad concept for this pain point would be something like ‘Has your family outgrown your home? Click here to learn how to turn your existing equity into a larger home for your family’
• Young First Time Buyers—‘millennials’—their pain point is that with the rising cost of real estate they are unsure if they CAN afford a home, and they may not know how to go about it. An example ad concept could be something like ‘Curious what type of home you can buy in today’s market? Click here to learn what type of home you can buy in today’s market’.
When you have a pain point and a phone number–starting a conversation and booking an appointment is relatively easy (you still need to call them of course).
Our Ad Program
$275 one-time setup
$200/month for full management
+The cost of Facebook ads (we recommend a minimum of $300/month)
Our ad program is a fully managed solution that is setup on your Facebook ad account–so that you can login and check the results any time you’d like…however it’s fully managed so this isn’t a necessity. All you need to do is call the leads.
If this all sounds too simple, or too good to be true….check out our client testimonials (from real, verifiable Realtors) in our Facebook group!