Best Facebook Ads Strategy For Real Estate Agents | Plus 16 Targeting Tips
Learn How to Advertise Your Real Estate Company Using Facebook Ads.
Capturing leads on Facebook can be a valuable new revenue stream for your real estate company. Today, we started a new cold audience targeting campaign and we’re capturing cold leads for just under $2 each using Facebook Ads. We have 6 new leads in less than 12 hours and so far we’ve only spent around $12 on the campaign.
However, real estate agents looking to advertise on Facebook need to be aware of a few limitations (i.e. the special ad category) as well as the audience targeting options that you have at your disposal.
Watch the video below to learn about the 16 best targeting strategies we use at Turf.Press to find real estate buyers, sellers, investors and renters. Enjoy!
Know the Path & Know the Math
Before you start any real estate Facebook ads campaign, you first need to understand both the PATH your site visitors will take, as well as the MATH that will ensure your real estate marketing campaign produces a positive ROI.
At Turf.Press we use the theory of constraints model to break up larger, more complex real estate marketing campaigns, into smaller, more manageable chunks.
The idea behind using the theory of constraints model is that it allows us to better test individual components within a Facebook Ads campaign. It also allows us to identify and open up bottlenecks within our marketing funnel.
At the end of the day, using this model, we can produce better data, which we can then use to optimize our real estate Facebook ads campaign.
However, when using this framework, it’s important not to focus too heavily on local optimizations.
As I discuss in the video above, sometimes you might accidentally introduce an inefficiency into the system. Sometimes these inefficiencies are not easy to spot. For example, increased awareness might seem like a local optimization, but if you’re targeting the wrong user group, increased awareness will result in this inefficiency swimming downstream.
Therefore, it’s import to ensure that local optimizations understand the needs of the global system.
How to Target Cold Facebook Traffic
Targeting cold traffic interested in real estate (buying, selling, investing or renting) on Facebook can be a money pit.
We do this because Facebook doesn’t easily allow you to target buying intent with cold traffic. Instead, you’re stuck playing a game of probability by targeting users based on interests or life events.
For example, if someone recently got divorced, they might be looking for a new home. However, these are much trickier cold audiences to work with because targeting life events or interests don’t give you any insight whatsoever into buying intent.
However, there are a few cold audience marketing tactics that we use at our real estate marketing agency that allow us to improve our chances of finding people interested in buying, selling or renting a property.
16 Cold Targeting Audiences on Facebook
Here are a few of our favorite cold audience targeting strategies for real estate agents and real estate investors.
Interests and Demographics
2. First time buyers grant
3. Credit score
4. Real estate investing (buyers)
5. Renovations (sellers)
Residential and Personal Profiles
6. Likely to move
7. First time home buyer
8. Home type / home value (i.e. $500,000)
9. Income / net worth
10. Recently married
11. Recently divorced
12. New parents
Map Out Your Real Estate Facebook Ad Campaign
When targeting cold traffic you need to know that the majority of your traffic won’t convert on their first visit. Therefore, you need to have a remarketing campaign in place in order to retarget ads to your warm audiences later on.
Previously, I talked about “knowing the math”. Essentially, you need to know your Facebook Ads cost for your ENTIRE real estate lead generation campaign. This will included the allotted budget for your cold audience awareness campaign and your multiple remarketing campaigns.
At Turf.Press, our real estate Facebook advertising campaigns often look something like this:
How to Steal Real Estate Facebook Ad Ideas From Your Competitors?
Targeting cold traffic on Facebook can be a money pit. At our real estate PPC agency, we have the unfair advantage that we get to run countless tests each month to see what works and what doesn’t.
Being able to compound our knowledge across multiple accounts is a huge benefit for our clients.
That’s why we can often target cold traffic on Facebook and get leads for around $2 each.
However, in order to get your lead acquisition cost low, you need to use the information you have at your disposal wisely.
As a real estate marketing agency, we have a mountain of data we can comb through each month. However, if you’re not lucky enough to be one of our clients you need to find other ways to acquire data.
One of our favorite tools is using ad spying tools. I covered SpyFu in another tutorial where I taught you how to spy on your competitor’s Google Ads campaigns.
However, now we need to find a way to spy on our real estate competitor’s Facebook Ads. To do this we use Facebook Ads Library.
Essentially, this a free tool within Facebook that allows you to monitor the top performing real estate Facebook Ads in your niche.
You’ll be able to monitor each campaign (creatives, copy etc.), as well as see how long the campaign has been running. While this approach isn’t without some pitfalls, it does allow you to make assumptions based on what’s likely working for your competitors.
The logic works as follows; If one of your competitors has been running a real estate Facebook ads campaign for a long time, there is a good chance that that campaign hitting its campaign objectives and returning a positive ROI.
Thank you for taking the time to stop by Turf.Press today. If you would like to learn more about how we can help you scale your real estate website, then visit our homepage or reach out to us today to organize a free 45 minute strategy session.