Facebook has quickly become the hottest tool for real estate agents, brokerages and teams.
The platform has added new features that allow advertisers to quickly capture the attention of potential buyers and convert them into quality leads. While Google Ads and LinkedIn Advertising can still increase lead volume, Facebook is the cheapest and most predictable source of buyer leads for our clients today.
Here’s a look at why Facebook has become so dominant.
Powerful targeting:
Facebook’s targeting options are extensive. While you might not always be able to set a defined audience in one click, you can combine interests to really narrow down on your target audience. For example, if you want to reach people who live in condos who are interested in buying, you can create an audience that reaches people who are interested in homeowners associations and real estate investing. The more interests you add, the smaller the audience gets. This is just scratching the surface, but it’s a great example of the targeting features available.
Facebook also lets you target specific communities, to really narrow in on your target audience. We recommend running hyper-local ads that target very specific communities to present the most relevant messaging and maximize your buyer leads.
Saved lists and lookalike audiences:
If you’ve been curating an email list, you’re in luck. One of Facebook’s most powerful functions from an advertising standpoint is its ability to target users on your email list. You can upload your list to Facebook and run ads to users that have profiles associated with the emails on your list and really go after your low-hanging fruit. Since your audience will likely not be too large, this type of advertising is cost effective and highly profitable.
In addition to advertising to your email list, you can also create a lookalike audience on Facebook that targets users that are similar to those on your list. This is a great way to reach an audience that is similar to your potential customers.
Diverse ad formats and platforms:
You’ve probably heard throughout the years about a few of Facebook’s major acquisitions and product developments. They’ve grown Facebook Messenger to over 1.3 billion users and Instagram to over one billion users. This means that you can test your advertising across multiple platforms and adjust accordingly, depending on where you see the most results. This varies depending on your location and target audience, and usually takes one to two months to define.
Having multiple platforms to choose from also means you have access to multiple ad formats. Facebook and Instagram allow for carousel and single image ads, along with video placements. Facebook and Instagram Stories also allow for vertical ads that take up more space. We recommend testing multiple campaigns and seeing where you get the most qualified leads.
Detailed results:
After you’ve done your testing, it’s time to look at the data and make informed decisions for the future. Facebook, when compared to other social networks and search engine advertising options, provides the best data during and after your campaign. Dive deep into the data and see where your leads are coming from.
Some of the most important metrics to analyze include:
- Age range of leads
- Device used (iPhone, Android, Desktop)
- Time of day that a form was filled out
- Platform (Instagram Feed, Instagram Story)
Analyze this data and then put more money into what’s working. If all of your leads come through between 4 p.m. and 8 p.m., adjust your ad timing and make yourself available during these hours. Don’t fight what’s working.
Qualifying forms:
Facebook Lead ads are high converting for many reasons, but the big draw is that they qualify leads. When someone clicks on your ad, their information will pre-fill in any form you create. This means that you’ll spend less time chasing fake leads and more time on the phone with qualified buyers.
Immediate responses:
Facebook typically sends leads directly into a spreadsheet stored in Ads Manager, but with Zapier you can automate the process and respond as soon as possible. Use Zapier to create a webhook that sends your leads directly to your email or to your phone as a text message. This ensures that you’re following up in real time when your potential buyer has you top of mind.
Facebook has become crucial to agents, brokerages and teams across Canada. The costs to run ads remain low, but as the word gets out, competition on the platform is all but certain to grow.
Justin Kerby is the founder of Market Movers, a professional writing service for leading real estate professionals. He’s the former Director of Content at REW, and the President of Something Great Marketing in Vancouver, B.C.
