I'm gearing up to begin a local marketing campaign, and I'm considering utilizing a couple pay-per-click tools such as Adwords and Facebook. Has anyone had any experience with either, specifically Facebook ads. I haven't heard a lot regarding the effectiveness of Facebook ads. So, I would be interested in any insight regarding setting a good daily budget that would return a respectable response rate.
I've found some buyers through FB ads. But it depends on how you write the ad your targeting. It's also a numbers game. Out of 50 clicks I get 1 buyer. I pay $0.3/click so for $15 I get 1 buyer added to my database.
Google PPC can work too but it's a lot more expensive (you'll spend close to $1/click depending on the keywords you use). You get better quality of clicks though.
@Wendell De Guzman in your opinion is it worth it for you to spend $15 to get 1 buyer added to your database without any guarantees that they are just tire kickers? What sort of strategies are you applying to guarantee that that $15 is getting you a serious buyer who can act fast, and close on time? The reason I ask, is because I wouldn't mind applying your FB strategy in my market. Thanks!
Adwords, Bing Ads, Facebook, & LinkedIn. They all "work" but, like @Ben G. and @Wendell De Guzman said, it's all a matter of risk vs reward.
PPC advertising can be really beneficial in some businesses and if you decide to pursue it you should spend some serious time in crafting your copy and photos and even more time selecting the right keywords. I recommend picking lots and lots of keywords to both cast a wider net and because you can get some clicks from lesser used (and cheaper) keywords that might pay off. Facebook is a bit more specific depending on the advertising type you're wanting to use. There are market segments that target people who like real estate investing or people who are going to be moving soon, for instance. You might find some luck with those.
There are keyword tools in Adwords that will give you estimates on clicks, impressions, CTR, etc. You can specify your daily budget or just select what would work best based on the data.
For the most part, it sounds like it will take some experimenting to figure out what the optimal bid/budget price should be. Which is one of the things I was worried about. I understand that each business's goals and resources will dictate budget. And from there I will need determine if the cost per lead of running these such ad campaigns is worth the time and effort. Just like Ben, I'm interested in knowing if you Wendell are satisfied with pay $15 per contact added to your db.
I do like that Facebook gives you the option to target a potential customer base by location and demographics. I would assume (and hope) that an option such as this would increase your ads response rate.
What's nice is that you don't have to stick with just one ad. You can split your budget among multiple ads in the beginning and measure what gives you the best results. Once the prospective client clicks through, it's up to you to close them. Some people pay $5 per lead and other $50 per lead. There isn't a way to determine beforehand which will pay off. That's why you need an integrated marketing plan so clients are being directed through the marketing funnel and are being given the information they're looking for throughout the process.
@Josh Sexton @Ben G. @Wendell De Guzman Hello All! When using Facebook to advertise do send target leads to your Facebook fan page in the form of likes for your page? do you send them to your website? or do your ads simply have contact information on them?
I am wondering what you do with the Facebook leads that allow you to close/ turn them into clients. If they simply click your ad what is the next step?
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!