Online real estate advertising
I'm actively investigating the way online real estate advertising works, or doesn't, and whether it is worth it. This post is just a "get your feet wet" post about my first impressions. I've thought and worked at this a lot lately. Here's one aspect of the deal about which I'd really appreciate your feedback and further thoughts.
I look forward to the day that someone cold-calls me with a pay-for-performance proposition, like getting a referral fee if I close a transaction with a lead the cold-caller sent me.
In the meantime, it seems to me that while some people are generating profits by advertising on sites like Zillow and Facebook, for example (since there are always winners in every game), online ads, in the aggregate, MUST cost more than they are worth because, otherwise, people WOULD be offering pay for performance! (If referral fees paid marketers more than pay-per-click, they'd sell that concept instead.)
Right now, we are bamboozled by the baffling chain of conversion ratios - and the wide variety of costs and promotional packages - that lead down the conversion funnel from impressions > clicks > page views > lead captures > contacts > prospects > customers > clients > sales.
As long as you and I, as consumers, don't understand the average statistics and our personal conversion rates, we can't make an informed investment decision, and that works in favor of marketing companies and agents/brokers who are willing to spend heavily to dominate and test markets.
I'd really appreciate your feedback and further thoughts and experiences about online real estate advertising.
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