Facebook. The world’s largest social platform. One BILLION people on planet earth are active on Facebook. No other medium has the ability to reach more people than Facebook. The data that users have voluntarily given to Facebook and the behavior data Facebook has collected (with our permission, whether we read the fine print or not) is seemingly unlimited. Facebook has the world by its horns and they’re capitalizing.
How are they making the majority of their money? Advertising. In 2007, Mark Zuckerberg introduced advertising on Facebook. 11 years later, Facebook is averaging $1 billion per quarter on Facebook ad revenue. As you can see, Facebook ads are lucrative for Facebook. But what makes them lucrative for you as a real estate agent?
Despite going into their eleventh year of existence, Facebook ads are still the golden goose of advertising. Nationally, big brands are fully reaping the benefits, as they should. But locally? So few small to medium size business owners are utilizing it. More importantly, very few real estate agents are taking full advantage of using Facebook ads (or using them correctly) to build their book of business and sell more properties.
With low competition comes low prices. These are two great reasons why you should be advertising your listings on Facebook. More on that in a future post.
Let’s talk about what FB advertising ISN’T. It is NOT BOOSTING! I can’t tell you how many conversations I’ve had with agents that go like this:
Me: Have you done any Facebook advertising before?
Agent: Yes, and it didn't work at all.
Me: Can you tell me how you were doing it?
Agent: Uh, I clicked the Boost button.
Me: Yeaaaaa, it didn’t work because that’s not Facebook advertising. Not even close.
So let’s hammer this out: Facebook advertising is utilizing Facebook’s Business Manager (software account with all the tools necessary to run ads) and creating ads with specific goals in mind. NOT boosting.
These types of campaigns, which I will cover in the next post, will bring you WARM leads. People who see your ad, like it, and want you to contact them. Can’t get any warmer than that.
Advertising on Facebook is the easiest and cheapest way to acquire warm leads and new clients. The best move a realtor can make today is move part (or most!) of their marketing budget to Facebook advertising.
Stay tuned for the next post, which will address the types of campaigns best suited for real estate ads!