A Detailed Guide to Facebook Ad Targeting for Real Estate MarketingAugust-20-2019
Facebook is the perfect platform for real estate marketing. Since it allows you to target potential buyers based on a specific location, demographic and interest, you get the liberty to target only the best prospects for your project. In fact, it is easier to find your perfect-fit audience on Facebook than on any other platform.
Leveraging Facebook’s Targeting Capabilities
The greatest advantage of using Facebook ads is the detailed targeting. AND it's not just limited to one ad - any marketing campaign can contain several ad sets with multiple ads in each ad set, each ad set targeted to a different set of audiences. For example, you can show one ad to NRIs and another to resident Indians while advertising your property. The content for each would, of course, differ.
It’s also a good practice to drill down to the details with selection by area, age, interests, job titles or other demographic information. An example in Smart Home promotions in a particular location would be setting a campaign to target audience only when they fall in between the age bracket of 30 – 55, display certain interests related to real estate buying along with an affinity towards technology and have a job title suggesting financial ability to make the purchase. You can narrow the reach of your ad from 300 million Facebook users down to under 30,000, thus making more efficient use of your budget and reaching those most likely to become your customer in the future.
Pro Tip: Plan Your Ad for Each Goal
Before we explore ad layout details, it’s important to have a plan in place. First, clearly define the goal of each campaign, who your target audience is and what the ad should convey within the space constraints. Select a campaign type as per your business goal, whether it’s Awareness, Consideration or Conversion. Like all advertising, having a catchy headline is a must. Augment that with a relevant image, and you are good to go. Once you have decided on an actionable plan, setting up an ad campaign is a matter of minutes.
The Guide: Facebook Ad Creation & Targeting
Creating the Ad - Headline, Text and Image
Even though we create an ad as one of the last steps while you set up a campaign, it’s a best practice to have all the collaterals ready before hand. The look and feel of the ad is equally important when it comes to real estate marketing. One of the best way to know how the actual ad will look like before you start with the campaign set up, is to use the ‘Creative Hub’, a tool provided by Facebook.
Create a Mock-up using ‘Creative Hub’. Specify your ad headline or title text, text for the body and finally, upload an image. It's an easy process. When it comes to real estate marketing, grabbing the attention of the user with a strong image is equally important. Make sure you use a creative that is not cluttered, with minimal text & capture the essence of your property by focusing on the USPs.
Redirection URL : After clicking on your ad, the users will be redirected to the specified landing page, these landing pages can be your website home page, blog, etc. If you're targeting different audiences, you might want to create landing pages for each. It’s usually a better approach than redirecting everyone to your home page.
Ad Headline : Spend time on coming up with a headline that will make them read the rest of the ad. It’s advisable to have two or three versions so that you can test them for the best performing one. While an eye-catching image catches their attention, the ad headline invokes their interest, and the text makes them want to click.
Body Text: Here you need to make a sales pitch that gets readers to click. The body text should convey enough information to retain the readers’ interest while not divulging too much so that the ad doesn’t demand clicks. Use your knowledge of other ads that have worked for you and keep experimenting to improve your metrics.
Now let’s see how to take advantage of Facebook's amazing ad targeting for real estate marketing
Facebook Ad Targeting Process
While several info fields will help you precisely target users, mentioned below are a few crucial targeting points to be considered for real estate marketing.
Although many real estate professionals will tell you that you should keep the ad location set to as wide an audience as possible, targeting niche markets that your buyers are concentrated in works wonders. By narrowing this field a bit, you can reach out to a bulk of your audience who might actually be interested in your property. When you set a wider location range, you run the risk of showing your ad to audiences that have a very slim chance of being converted into your customer. So, it's beneficial to get much more focused on your target location. For example, why show your ad to someone a thousand miles away when you can focus on the location near your property. The exception would be a vacation or an investment home market, where your end customers live elsewhere.
Age & Sex
You can rule out anyone 27 years old or younger as the starting age. Apart from that, this area will depend on your target market and your project offerings. The gender or sex of your audience could be quite valuable. Depending on the location of your project, like in the city or away from it, the sex of home buyers becomes significant. For a 2 BHK home in the city, your target would mostly be males who are looking to move in with their family. On the other hand, for studio apartments in a metropolitan area, bachelors can include both males and females. If your targeting is gender specific, make sure to include the right headline and body text that will appeal to that particular group.
Interest can be a major factor for targeting if it aligns with your goals. For example, if you are running an ad for 2 BHK villas in Pune, target interest and affinities related to the same, i.e. ‘Buying a home’, or people showing interest in ‘Magic Bricks’, etc. This will not only help target the right audiences but also narrow down your audience to relevant ones. If you are targeting investors, target interests related "real estate investment" can sharpen your ad.
When it comes to this field, it’s probably not a good idea to filter your audience by their education. Generally, the real estate market is wide open when it comes to educational targeting. An exception might be rental homes reserved by a university for a specific section of people like professors. Although cases like these are not very frequent, you might have other reasons to specify an education level.
Instead of education, you can target a person’s job title instead. For example, if you are running an ad for luxury 4 BHK property in Pune, you want to show your ads only to people who can buy one. So target people having job titles like CEO, CTO, CFO, etc. or Business men.
Relationship & Languages
The relationship field becomes important to target groups that your project caters to. If you have larger size inventories targeting families make sense. Conversely, for studio apartments or 1 BHKs, single people like college students or young professionals would be ideal ad targets. However relationship targeting is more useful for rental real estate marketing & not when it comes to selling real estate. If you want to target a predominantly vernacular audience, then this field will help you focus on prospects who speak the local language. Especially if you are experimenting with ads in native language, you want to only show those ads to people who are comfortable with the same.
Other Features such as Lookalike Audiences
Facebook keeps on adding new features every year in order to target audiences more effectively. Lookalike Audience is one such feature. It allows you to focus on the attributes, interests and likes of your existing targets which have been successful and create a targeted campaign to other members that have the same interests and behaviours. The result is a campaign targeted to new prospects, similar to your existing already successful campaign leads.
Facebook Ads Campaign and Pricing
Once you've set your targeting to reach only the very best prospects for an ad, now you can focus on your campaign and budget. You set the maximum that you want to spend each day, choose whether you want to run it on certain days or continuously
That's it for setting up a Facebook real estate ad campaign. But getting the leads is just a part of the job done. Ultimately, you would want to convert them to your customers. Losing out on any lead may result in losing out on a great business opportunity or establishing a strong presence in the real estate industry. The buying cycle is a bit unpredictable in nature and therefore have a strong connection with the prospect always plays a major role in driving revenue.
This is where a real estate CRM comes into play. A real estate CRM systems take care of such issues without putting in any major efforts and in a short period. Having an organized sales process can not only help in filling gaps but also help in focusing on building a strong customer base. A strong real estate CRM system will help in managing and streamlining your communications, maintaining relationships, tracking lead behaviour, generating reports to review efforts and automating tasks, allowing the management to focus on their core competency and closing deals.
Sell.Do is a real estate CRM tool. Sell.Do is the only sales and marketing platform you need for seamlessly integrating your sales and marketing division. The platform has been built especially for the real estate industry and helps you dive deeper into advanced APIs like cost per quality lead, cost per site visits and cost per closures to get a better insight into your marketing & sales. With Sell.Do, you can maximize ROMI by optimizing marketing campaign as per your sales performance.
Make your way over here to know more or to sign up for a demo.