Facebook Ads

Facebook Ads

Reston, VA · Member since 2014 · 9 posts · 3 votes

Hello All,

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.

Thanks.

0Reply
39 views

Most Popular Reply

Specialist · NYC · Member since 2017 · 123 posts · 88 votes
7y

@DeAunte Hawkins

While the daily budget does affect your response rate, I would like to direct your attention to a much more important factor that will have a more profound effect on your success within the facebook ads platform in general.

A lot of times in the beginning investors are not going to spend a significant amount of money on facebook. So I would implore you to take this tip I have for you seriously.

Tip: You NEED to be hooking the right seller from your ads, also known as your customer avatar/ ideal prospect.

What do I mean by this? Now your ad copy could be awesome, you even nailed your offer perfectly, but your missing 1 major thing. The Hook!

Your hook is the marketing message, the reason that someone is going o show interest in your service.

unlike googles intent search marketing, you are disrupting these persons feed and they most likely have no clue who you even are.

You need to be ridiculously relevant because the more relevant you are the better your ads will perform. if you don’t get this right expect to pay a lot more than you need to be.

so how do you go about forming your hook?

First things first, take inventory of your ideal prospect. You need to know everything there is to know about who you want to speak to.

See you want motivated home sellers, but you have people that are going to be interested in your service for different reasons.

Off the top of my head, a lot of motivated sellers are looking at retirement so they want to sell their house and move to let's say Florida or downsize in general.

Your hook can be something like “let XYZ company help you through a smooth retirement”

A lot of you guys already know who your ideal prospect is and if you don’t, just break down every situation somebody can be in to want to sell their house fast.

Once you have those prospect avatars, start writing down a swipe file full of hooks that address each and every avatar you have

Quick tip: Take a look at other companies testimonials as well as yours. Look at the story they tell about how that company helped and use that information to formulate hooks and can even use testimonials in your ad copy in general, or get creative and formulate stories.

You cannot have a great hook without a solid understanding of your service, what it does for people, as well as understanding your ideal prospect. Research, research, research!

So now that you understand hooks and your customer avatar, you have to then put everything all together.

Here’s a simple strategy…

Start with 2-3 avatars. From there choose 2-3 hooks you are going to use such as emotion, logic, and or average process-based.

You're now going to be able to write ad copy for each of those hooks to be able to target that specific avatar.

Create a separate campaign for that single avatar. At the ad set level, you’ll then have different audiences and interest groups to target.

Now within the ad set at the ad level, you create enough ads to split test between those 2-3 hook vacations. Run that until you have enough data that is statically relevant.

This strategy right out the gate gives you info on what avatar works the best as well as which hooks are those avatars responding too. You can adjust this test by scaling down avatars and ads depending on your budget.

Appreciate it if you’ve read this far! If you need any clarification feel free to message me.

Best of luck to your marketing efforts!

See this reply in the discussion

12 Replies

Jump to latestLatest
  • Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    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.

  • Ben G.Pro Member
    Investor · Indianapolis, IN · Member since 2013 · 647 posts · 196 votes
    12y

    @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!

  • Chicago, IL · Member since 2014 · 37 posts · 13 votes
    12y

    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.

  • Reston, VA · Member since 2014 · 9 posts · 3 votes
    12y

    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.

  • Chicago, IL · Member since 2014 · 37 posts · 13 votes
    12y

    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.

  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @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?

    House Hacking New Jersey563 Reviews
  • Frisco, TX · Member since 2017 · 4 posts · 3 votes
    7y

    Have any of you found motivated sellers from you FB marketing efforts?

  • Specialist · NYC · Member since 2017 · 123 posts · 88 votes
    7y

    @DeAunte Hawkins

    While the daily budget does affect your response rate, I would like to direct your attention to a much more important factor that will have a more profound effect on your success within the facebook ads platform in general.

    A lot of times in the beginning investors are not going to spend a significant amount of money on facebook. So I would implore you to take this tip I have for you seriously.

    Tip: You NEED to be hooking the right seller from your ads, also known as your customer avatar/ ideal prospect.

    What do I mean by this? Now your ad copy could be awesome, you even nailed your offer perfectly, but your missing 1 major thing. The Hook!

    Your hook is the marketing message, the reason that someone is going o show interest in your service.

    unlike googles intent search marketing, you are disrupting these persons feed and they most likely have no clue who you even are.

    You need to be ridiculously relevant because the more relevant you are the better your ads will perform. if you don’t get this right expect to pay a lot more than you need to be.

    so how do you go about forming your hook?

    First things first, take inventory of your ideal prospect. You need to know everything there is to know about who you want to speak to.

    See you want motivated home sellers, but you have people that are going to be interested in your service for different reasons.

    Off the top of my head, a lot of motivated sellers are looking at retirement so they want to sell their house and move to let's say Florida or downsize in general.

    Your hook can be something like “let XYZ company help you through a smooth retirement”

    A lot of you guys already know who your ideal prospect is and if you don’t, just break down every situation somebody can be in to want to sell their house fast.

    Once you have those prospect avatars, start writing down a swipe file full of hooks that address each and every avatar you have

    Quick tip: Take a look at other companies testimonials as well as yours. Look at the story they tell about how that company helped and use that information to formulate hooks and can even use testimonials in your ad copy in general, or get creative and formulate stories.

    You cannot have a great hook without a solid understanding of your service, what it does for people, as well as understanding your ideal prospect. Research, research, research!

    So now that you understand hooks and your customer avatar, you have to then put everything all together.

    Here’s a simple strategy…

    Start with 2-3 avatars. From there choose 2-3 hooks you are going to use such as emotion, logic, and or average process-based.

    You're now going to be able to write ad copy for each of those hooks to be able to target that specific avatar.

    Create a separate campaign for that single avatar. At the ad set level, you’ll then have different audiences and interest groups to target.

    Now within the ad set at the ad level, you create enough ads to split test between those 2-3 hook vacations. Run that until you have enough data that is statically relevant.

    This strategy right out the gate gives you info on what avatar works the best as well as which hooks are those avatars responding too. You can adjust this test by scaling down avatars and ads depending on your budget.

    Appreciate it if you’ve read this far! If you need any clarification feel free to message me.

    Best of luck to your marketing efforts!

  • Member since 2019 · 12 posts · 2 votes
    5y

    we have tried this as well

    the biggest issue was we were getting a lot of spanish people looking for rentals and not english speakers looking for seller.

    any tips on the categories we should be selecting the categories

  • Flipper/Rehabber · Memphis, TN · Member since 2020 · 758 posts · 285 votes
    5y

    I use Facebook for my rentals. I can say that I get a lot of inquiries. 

  • Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    5y

    In 1 year we made over 2M, with just one Facebook ad.

    The point I am making here is very simple. There is no such thing as facebook ads not being effective.

    Ads work as follows.. you need to reach your IDEAL audience with a resonating message, and drive them to a resonating landing page that resonates with them, all the while it needs to be abundantly clear that you are credible and the authority in that space.

    Now...

    Facebook HAS obviously the audience, ... almost everyone is on facebook... So anyone that says facebook is not effective, just has no stinking clue what they are doing and rather point the finger at Facebook than their own incompetence..

    That said.. I HATE friggin facebook because they keep banning people for no stinking reason and there is NOTHING you can do about it because they have monopoly! I truly wished EVERRYONE would boycott those bastards even if it  was for a week. They would wake up and treat people nicer!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.