{"id":127057,"date":"2020-06-30T16:00:40","date_gmt":"2020-06-30T22:00:40","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=127057"},"modified":"2021-03-16T17:00:47","modified_gmt":"2021-03-16T23:00:47","slug":"targeted-social-media-marketing-build-rei-business","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/targeted-social-media-marketing-build-rei-business","title":{"rendered":"The Easiest, Most Effective Way to Target Your Marketing (&#038; Stay Within Your Budget)"},"content":{"rendered":"<p>Over the years, I\u2019ve worn a number of different hats in the real estate investing industry\u2014from real estate broker to wholesaler, from flipper to urban developer.<\/p>\n<p>Real estate, just like pretty much any other industry, is largely hinged on one small, but very important truth: \u201cYou must connect your product or service with people who want what you are offering.\u201d<\/p>\n<p>Really sit and think about this for a moment:<\/p>\n<ul>\n<li>If I\u2019m building or flipping a home, I need to connect the finished product with a buyer who wants to own this property.<\/li>\n<li>If I\u2019m raising money for a development or multifamily syndication, I need to connect with investors who want to occupy a passive role in the deal.<\/li>\n<li>If I\u2019m looking for land to build on or develop, I need to find property owners or real estate brokers who have connections to the types of property I\u2019m looking for.<\/li>\n<\/ul>\n<p>This connection point is the make or break of your business. So, how can you best position your product or service in front of those most likely to be interested in it?<\/p>\n<h2>The Best Marketing Strategy to Try This Year<\/h2>\n<p>In a perfect world, your business would grow and prosper effortlessly as your product or service magically appeared in front of your target market. The amazing thing is, with just a small amount of effort, you can make this &#8220;magic&#8221; happen\u2014and truly move\u00a0the needle forward on your business.<\/p>\n<p>Social media marketing is the most powerful tool we have at our disposal to make targeted connections with consumers. It\u2019s the only place where seven out of 10 Americans have voluntarily come forward and shared immense amounts of data surrounding their likes, dislikes, hopes, and dreams.<\/p>\n<p>If you are not using social media to connect with people who <em>want what you are offering<\/em>, you\u2019re missing out.\u00a0So, what are some steps to do this effectively?<\/p>\n<p><strong><em>Related: <\/em><\/strong><em><a href=\"https:\/\/www.biggerpockets.com\/blog\/create-real-estate-content-marketing-plan-simple-steps\" target=\"_blank\" rel=\"noopener noreferrer\">Effective Content Marketing for Your Real Estate Business: Create a Plan in 5 Simple Steps<\/a><\/em><\/p>\n<ol>\n<li>\n<h3>Identify separate parts of your business.<\/h3>\n<\/li>\n<\/ol>\n<p>The first step is breaking apart the different pieces of your business into small, specific sections. Focused marketing is more effective than providing general information.<\/p>\n<p>There are quite literally thousands of companies (with probably much larger ad spends than you) trying to sell houses. But if you identify and build messaging around a certain geography, style, or buyer niche, you can place your content in front of people who actually want it!<\/p>\n<ol start=\"2\">\n<li>\n<h3>Create messaging for each area of focus.<\/h3>\n<\/li>\n<\/ol>\n<p>Build content and communicate offerings tailored to each area of your business. Again, specific is much better than general! Create targeted messaging with articles, videos, and photos. Realize that to effectively market via social media, a narrow niche is way better than a watered-down, generic call-to-action.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-90317\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/07\/build-team.jpg\" alt=\"\" width=\"702\" height=\"336\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/07\/build-team.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/07\/build-team-300x144.jpg 300w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/p>\n<ol start=\"3\">\n<li>\n<h3>Think through\u2014with as much specificity as possible\u2014who would be interested in your product or service.<\/h3>\n<\/li>\n<\/ol>\n<p>In the marketing world, this \u201ctarget audience\u201d is called an \u201cavatar.\u201d Develop an idea of exactly who this target person is, and what they like and dislike, as well as how to best reach and influence them. You will use this to&#8230;<\/p>\n<ol start=\"4\">\n<li>\n<h3>Target these people through lookalike audiences or other paid advertising means.<\/h3>\n<\/li>\n<\/ol>\n<p>This is an important aspect of social media marketing that you must implement in order to be effective. I see people every day blasting their friend group with business-related articles and information, hoping to pick up business. This is ineffective at best and may cost you some friendships at worst.<\/p>\n<p>Your friends and family are probably not your ideal customers. Putting the content you\u2019ve created in front of your target avatar is an absolute non-negotiable. Yes, this costs money. No, it doesn\u2019t take a fortune, and you can get a good feel from the effectiveness of your marketing campaign before turning up the dollars to really multiply the benefits.<\/p>\n<p>Usually, when I\u2019m testing a new campaign or piece of content, I\u2019m using less than $10 a day of my actual ad spend. If things appear to be working, I\u2019ll increase the budget; if not, I\u2019ll make adjustments and work to fix the mistake before it gets too costly.<\/p>\n<p><strong><em>Related:<\/em><\/strong><em> <a href=\"https:\/\/www.biggerpockets.com\/blog\/2013-06-01-how-to-build-website\" target=\"_blank\" rel=\"noopener noreferrer\">How to Create an Awesome Lead Generating Website in Under an Hour with No Technical Abilities<\/a> <\/em><\/p>\n<ol start=\"5\">\n<li>\n<h3>Capture information from these targeted individuals.<\/h3>\n<\/li>\n<\/ol>\n<p>Once you find something that\u2019s working, what do you do? Normally, the leads you\u2019ll get won\u2019t be immediately ready to convert and buy your product or service. You\u2019ll want to begin building a relationship and \u201cretarget\u201d them with additional pieces of helpful content (think videos, articles, and pictures).<\/p>\n<p>In a perfect world, I\u2019d have prospects fill out a short questionnaire so that I could uncover ways to help them. But if I can\u2019t get that, I want an email address or some other manner of flagging them as a \u201cwarm audience.\u201d That way, I can keep putting my content in front of them until I do capture their questionnaire responses or email address info.<\/p>\n<p>Ensure you have some sort of mechanism to keep track of the people who have shown initial interest in your product or service.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-92237 size-main-slider\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/09\/manwithphone-702x336.jpg\" alt=\"\" width=\"702\" height=\"336\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/09\/manwithphone-702x336.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/09\/manwithphone-1078x516.jpg 1078w\" sizes=\"auto, (max-width: 702px) 100vw, 702px\" \/><\/p>\n<ol start=\"6\">\n<li>\n<h3>Re-market to them and build trust\/credibility.<\/h3>\n<\/li>\n<\/ol>\n<p>After you\u2019ve captured a piece of information from a prospect, you can now put more content in front of them. This is where you build an online relationship and foster trust.<\/p>\n<p>I know I\u2019m doing a good job of this when, by the time I actually speak to a prospective investor, buyer, agent, or client, they are 90% sold on who I am and why they want to do business with me. That\u2019s the power of consistent, quality content in front of the right people!<\/p>\n<ol start=\"7\">\n<li>\n<h3>Refine and repeat your process.<\/h3>\n<\/li>\n<\/ol>\n<p>Keep doing more of the same! This should be part of the marketing budget of <em>every real estate agent, investor, developer, or broker!<\/em> The efficacy of social media marketing is far better than almost any other marketing channel available today. Some things will work; some won\u2019t. Refinement will be a process\u2014much like honing your real estate skills in general.<\/p>\n<h2>Putting It Into Perspective<\/h2>\n<p>Here&#8217;s an example. I run an urban construction and land development business in San Antonio. We build spec neighborhoods around our downtown, as well as custom and semi-custom homes for people.<\/p>\n<p>I have targeted homebuyers who already live or work in the area and Realtors who regularly sell the majority of the residential product downtown. I want to ensure that they (and the people most like them) know who my company is and what we do!<\/p>\n<p>I have ads currently running that produce leads for between $3-$5 per name, email, and phone number. The average home I build\/develop\/sell is between $350-$450,000. Plus, agents at my brokerage can sell owners&#8217; existing homes and\/or represent buyers in the purchase of new homes. All things considered, I could make between $9,000-$50,000 per customer acquired (between commissions and profits on sales).<\/p>\n<p>I can pay for <em>a ton<\/em> of $3-$5 leads and still be <em>way<\/em> in the green! <strong>This is the power of social media marketing.<\/strong><\/p>\n<h3>Wrapping Up<\/h3>\n<p>If this process seems overwhelming and stressful, don\u2019t worry about it! There are companies who specialize in social media marketing for real estate professionals and can help guide you through the nitty-gritty of building an effective campaign. So, don\u2019t let fear of the unknown stop you from taking action.<\/p>\n<p>Even though the internet and social media have been around for a while, the cost to get in front of your target audience remains very low. Put a plan in place to add or grow your social media marketing reach today!<\/p>\n<p><a href=\"https:\/\/www.biggerpockets.com\/webinars\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-91217\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01.jpg\" alt=\"\" width=\"700\" height=\"85\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01.jpg 700w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01-300x36.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><em>Questions? Comments?\u00a0<\/em><\/p>\n<p><strong>Join the discussion below.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Success in real estate, like any other industry, is largely dependent on connecting products or services with people who want what you have. So, how can you best position your product or service in front of those most likely to be interested in it?<\/p>\n","protected":false},"author":28992,"featured_media":117458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5529],"tags":[],"class_list":["post-127057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-marketing"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/127057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/28992"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=127057"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/127057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/117458"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=127057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=127057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=127057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}