You may be familiar with vendor paid advertising and may use it in your current marketing arsenal, but are you building a pool of real prospects you can market to?
Usually vendor paid advertising pays for the typical property marketing costs such as your listing on a real estate portal, sign boards, leaflet drops, newspaper ads etc., but none of these activities build a lead pool for you, do they?
Sure, these activities may get your face out there, but they are costly and in some cases ineffective.
The first step to building a lead pool that won’t cost you a cent, is to get your vendors on-board with Facebook advertising for their property.
Not only will Facebook advertising give your vendor access to quality targeted buying prospects that may not be on the real estate portals, it will help them achieve a higher price and a quicker sale.
That’s ultimately the point, right!
But using this channel well can also have a solid benefit for you while creating fabulous competitive tension for your vendor’s property.
A typical Facebook ad campaign will serve up tens of thousands of ad impressions and get hundreds of click throughs to your real estate listing.
How does this help you?
It’s simple really. The rule of thumb here is that where there is buyer interest, there are also likely sellers.
With this in mind, to achieve a lead pool of 500+ prospects you are likely going to need a sustained campaign with a moderate budget of approx. $800+ worth of ad spend.
The cost per click will vary depending on your target market, geography etc., but it is one of the more affordable channels for advertising, gives you a fantastic level of control and is highly effective because of the level of targeting you can do.
With the next listing you get, you could potentially be building your lead pool as well as getting a great sales result should your vendor accept Facebook advertising as a marketing channel.
Once you have your vendor on-board and paid up, a Facebook ad campaign can be created.
The campaign will promote their property, driving traffic to the online property listing. Done well, hundreds of targeted prospects will be clicking on your vendor’s property ad in no time.
The next step is to actually create your lead pool.
We do this by setting up a custom audience in Facebook Business Manager.
We can do this for you should you purchase one of our Vendor Paid Facebook Advertising packages.
Facebook has the ability to detect all of the people that clicked on your vendor’s ad – say over the last 30 days – and gather them up into a custom audience.
These people make up your lead pool.
Because they clicked on your vendor’s ad, these people are more likely to be in a buying/ selling phase, and they are likely to reside in the area in which you sell real estate.
Once you have your lead pool created, you can get some ads of your own created and re-market to your new prospects.
So that’s it:
- get your vendor on-board for Facebook advertising
- create a custom audience from the people who clicked, and expand your lead pool to 500+ in 20 days without spending a cent