Hi, my name is Angel-Ty Lebron,
Traditional methods of marketing consist of mostly direct mail, driving for dollars, referrals, etc... yet nobody really talks much about online marketing. Brandon however, wrote a great article talking about using Facebook ads (http://bit.ly/2Dk7sCu). While it may seem effective to send out hundreds of thousands of mailers a week, it isn't the most efficient way to do your marketing. Imagine if you were able to generate hundreds of qualified leads in the comfort of your own home while in your boxers. I believe its time to get more digital with our marketing. online marketing has become a huge white space for REI and Realtors. You can start TODAY by simply utilizing facebooks ad platform for your business. Here are the steps you can take today.
First, you need a facebook page. I encourage you to post consist value-driven content on your page, whether that be an open house event, recent listing, etc... Ultimately you want to be engaging with your audience as Facebook's algorithm likes to reward you with more impressions at a lower cost for your ads. After you have your business page filled out, you now have access to Facebook's ad platform, where you can now run laser focus targeted ads to Facebook's nearly 2 billion active monthly users. Now depending upon the goal of your ad, you select an objective. Facebook offers many advertising objectives to help you reach your business goals.Your advertising objective is what you want people to do when they see your ads. Once completed, you now are at the ad set level where you can target people based on Locations, Age, Gender, Languages, Detailed Targeting, which uses demographics, interests and/or behaviors, Connections, and Custom Audiences. For example, Joe Schmo bought a property to flip and wants to save money by listing the property himself. Joe uses Facebook's ad platform to create an ad for his open house. He targets married couples that make over $ 100,00, live in a 25-mile radius, are most likely to move, and local realtors. Joe is overwhelmed with the number of attendees at this event and after everything was said and done, Joe walks away with multiple highly competitive offers on the property.
However, with every marketing technique, there are its drawbacks. Many that start running paid traffic by themselves don't understand how to manage the ad account. Or they can fail to not understanding key concepts to run a successful ad. which is where I would usually step into running paid traffic through an online lead acquisitions funnel for Real Estate Investors and Real estate agents.
This post was not meant to disregard any other forms of marketing, they all work if you apply them correctly. I believe that it is good practice to have multiple flows of leads. I encourage everyone to share there thoughts & questions and if you have experience with FB ads chime in as well.
I am a paid traffic consultant so any questions you may have I would be happy to answer.
@Angel-Ty L. , how do you think Facebook's recent news feed policy changes will affect paid Facebook marketing?
@Logan Allec , smart RE professionals will be able to adapt without much issue to the policy changes. I think that if properly organized and planned, the change could actually be beneficial to RE professionals. Although, RE professionals tend to get in their own way from generating good quality leads from Facebook. For these professionals, they will find Facebook more difficult to generate leads from.
@Richard D. OK. All else being equal do you think CPMs are going to rise significantly for the same ad pre-change vs. post-change?
@Logan Allec the actual cost of CPMs should go unchanged or maybe we should expect an increase rationalized by Facebook using the argument that the algorithm change will increase the effectiveness of CPMs. I think that the actual opposite will occur from FB's thinking. The effectiveness of the CPMs is going to be greatly reduced and thus leading to lower ROI for the CPMs; resulting from RE professionals and advertisers unable or being to slow to adapt to the changes of peoples feeds caused by the algorithm. This will lead to an overall increase in spending by the advertisers, increased revenue and profit for FB, and thus lowering the anticipated quality returns for RE professionals.
Again, I cannot stress the need for proper planning and organization to make the advertising work for maximized ROI per each CPM paid for. If a RE professional continues with their standardized ads then you can expect to have increased budgets for marketing. Professionals need to organize their marketing strategies to target specific narrow audiences to achieve their best opportunities for greater ROIs from their marketing budgets. They must plan to be genuinely engaging with their targeted audience. RE professionals can no longer rely on generic responses, from their CRMs to plan a "timed engagement" with their target audience; to be effective.
I am not a huge fan of how RE professionals use their social media platforms as it is. Great RE professionals don't rely on FB alone. But hey, not every professional can be great, much less spend the time on social media to become great. Therefore, the short answer is "Yes, you can expect to pay more to get equal results." Especially, if you are only using FB advertising exclusively.
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