Facebook Ads are growing. The number of businesses who are using them are also growing and they are performing. I personally use them in my own business and in my clients’ businesses and have seen excellent results.
Facebook Ads hold incredible power to reach the specific people you want to target inexpensively compared to other traditional advertising channels. However, there are some tricks to using Facebook that you only glean from years of using that I’m going to share with you today to help you avoid pitfalls, paying for ads that aren’t your correct target audience and to get the best results!
First, if you’ve never used a Facebook Ad, you might be feeling overwhelmed by the prospect of using it or you’re wondering if you’ll do it right or if you know how to reach the right people. Let me tell you that it’s okay to jump in a get started and if you mess up a bit, that’s okay too. Practice makes perfect and you’ll be surprised at how fast you’ll get the hang of Facebook Ads with a little time.
1: Start Small, Boost a Post
If you have never boosted / run a Facebook Ad, start by boosting your Facebook posts.
What is the difference between a boosted post and an ad? Well, they are very similar. Facebook has several types of ads, but generally speaking, ads are paid and posts are free (organic). Nowadays, Facebook only delivers roughly 16% of the posts that your Facebook page publishes to your audience. Bottom line: you have to pay to be seen. If you had been wondering why your organic reach was so low, now you know why. Facebook wants money to show your posts to your followers… and to others who are NOT your followers. Basically, they want your money! But it’s okay… because the ROI is there.
By starting small, you can take a listing you have available and post it on your page and boost it for $7 for 7 days. You can target your own followers OR you can target people who are NOT your followers. I recommend that you target your followers with boosted posts and create ads for people who are not your followers.
Once you have started small, make sure you engage with those who engage with your post. This is important because it will actually BOOST your organic reach as well. Facebook gives more preference to posts that are popular (people liking, commenting and sharing).
2: Branch Out Into Other Audiences with Facebook Ads
Now that you have dipped your toe into advertising on Facebook with posts, it’s time to take it to next level.
You can start a real ad (under Ads Manager) and use your existing post above OR you can create a whole new ad campaign.
TIP 1: Use conversion ads at the Campaign level – increase conversions on your site. Then at the Ad Set level, pay based on impressions vs. cost per click. This is where you select your audience (see below).
TIP 2: At the Ad Level, select Carousel Ads as they outperform regular link ads. It takes more time but the results are worth it. Also, it might seem counter intuitive but trust me, it will work to your advantage. Take the time to put details under each photo, upload as many photos as possible.
3. Create Different Ad Sets and target these 7 Must Have Audiences for Your Facebook Ads:
You can create audiences in advance (under Audiences) or create them during the Ad Set creation process. Either way, save the audiences so you can use them for multiple ads in the future. Create new “Saved Audiences” with the following criteria (separate audiences):
- Renters that live in the area where your listing is located (zip code, city or zip plus X mile radius) (geo and interests)
- For people who visit the area but don’t live there (located in the geography section at top of audience)
- Homeowners who might be looking for investment property (in the interests section type in homeowners)
- There is an audience that you can select that says behavior is “likely to move” and another is “real estate investors.” (this is in the interests area)
- And, a more general one that doesn’t have all the targeting because not everyone meets all the criteria you set.
- Post on your personal page? If it really is a great deal, why not post on your personal page?
- CUSTOM Audience: And, if you want to get REALLY fancy, you can upload your contact list to Facebook and create a custom audience and target your existing circle of influence.
Remember that the more restrictions you place on your audiences, the less people you’ll reach and the more money you will pay. You don’t want the audience too large (over 1 million) or too small (under 1,000).
When you’re done with a single ad, you should have 1 campaign for the “listing” or whatever else you are trying to sell and several ad sets (name them accordingly) and you can have the same ad (creatives) for all of them. Just remember to speak the language of each audience vs. making a generic ad for everyone.
TIP 3: Once you start running your ads, start with $5 each per day. Then only incrementally increase the ad spend. Watch the ads and don’t edit them a lot and turn them on and off. Keep them running and the Facebook Edge Rank algorithm will stabilize. Don’t be alarmed if within the first few days you’re not receiving clicks or they are more than you thought they would be. Don’t set an end date. For some reason, Facebook like the ads to be set for continuous run.
TIP 4: How much money should you be paying per click? What is a good click through rate? Answer: We say that a click (unique click) is worth about $1 or so per click. And, anything over 1-2% is great in terms of Click Through Rate (CTR). You can see the stats on your ads by selecting Performance and Click Results drop down on your campaign.
One last thing that I want to leave you with is this… You can use this methodology for any ad you choose, not just listing links. You can use for Just Solds and if you’re having an OPEN HOUSE, add an event on your page for the open house and then boost it with the same audience criteria! The more you hit the same people with your events, listings and just solds, the more likely they are to call you up when they are ready to do a real estate deal!
TIP 5: When you are selecting Placements, do not let Facebook auto select for you. Make sure you only select Facebook Feed and Instagram. DO NOT SELECT AUDIENCE NETWORK and Right Hand Column is completely optional. With audience network, you’ll pay a lot less but you’ll get bogus traffic as well.
When you’re done with your ads, let us know how they did! If you need any help with getting started, we can help! Email us at firstname.lastname@example.org.
Don’t have a Facebook Page for your business yet?
Get step-by-step instructions on just what you (as a real estate broker) need to do to establish the right business page and how to maximize your social media marketing, watch this Video to Launch Your Facebook Business Page in Just 7 Short and Easy Minutes and learn why it can be one of the most critical moves you can make to help your business grow in the next 12 months. Follow along and you can have your business page up in 7 minutes! It’s easy when you have the right instructions (guide included).
Need a fancy Facebook Cover Image to go with your new Facebook Business Page? Download Real Estate Facebook Cover Templates here!