There are a lot of different systems on the market teaching how to produce, run, and work with Facebook ads.
There are dozens of people selling FB ad courses to real estate agents.
I buy some of these courses, to see what I can use for our clients. Some of these courses have membership programs also, like masterminds, etc. I belong to a few of those as well.
What I noticed in many of the webinars, etc, is that they never come out to tell the whole story. You get bits and pieces of a story, you get bits and pieces of the ads to run.
When one person gets some lead call then they promote that kind of post or ad to everyone else.
The problem is that one size does not fit all.
I have a friend here on ActiveRain who hired me and my virtual team to test a proof of concept on a niche that she is involved in. We set up the FB page, we worked really hard in getting graphics, messaging, branding, etc. Once we felt in the right place, we started the ads.
Well, the ads failed in this niche. We did not have a huge budget to work with so the testing was very limited. I think we would have broken into this niche had we had a lot larger budget but for most of us, that is just not something we can allocate a lot of money to. The other possibility is that the niche is just not on Facebook. Now, according to Gary V ; he would disagree with this statement. He knows a lot about marketing on FB and I think he is right to disagree. But, for whatever reason it is, the ads did not work.
So we move on. Both my friend and I knew, it was a gamble.
Does that mean that Facebook ads don't work? Of course not.
We also have a lot of working ads.
We have ads that work across most regions of the United States for home evaluations. Those still work. The secret is, you have to work the leads. One of my clients gets her listings by running home evaluation ads on FB but she goes way beyond JUST running the ads. She actually prepares a very good CMA along with a pre-listing presentation and then she GOES to the property without calling ahead of time, she just shows up. And that gets her the listing.
We have ads that work in all regions of the United States for communities. Each ad has to be tested though in each market.
For instance, we have ads running for a client near Chicago that are amazing. Leads as low as $2 per lead. So we used the same terms to run ads for another real estate broker in Virginia. No such luck. The same ad did not work.
So I started tweaking the ad copy until we had one that gets leads. After running through about 6 ads, I finally found the right area, the right target and the right copy. The broker is so happy too because the lead cost is super low, all under $3 per lead!
Finding the right ads that resonate with your target audience is the first step.
But after that, the work does not stop.
You have to CALL YOUR LEADS!
You have to nurther your leads.
Many of the leads we are getting are two deals in one, meaning they have a house to sell and a house to buy.
Typically for real estate leads, $7 per lead is considered average, $6 per lead is considered very good, and $5 per lead is excellent. We are getting leads at $4, $3, and $2 per lead. In very exclusive areas with a very small target, the leads are more expensive. Of course, the prices are much higher too. You have a smaller target audience, a more specific location, you will be paying more for your leads. One client is at $16 per lead, we are constantly tweaking and testing to find a way to bring that cost down. Most Facebook ad companies could care less how much you are paying for your leads, after all, it is not their money. But we do care and so we are always trying to get better leads at a lower cost.
Remember when you are doing your targeting that you can add negative targeting, meaning you can exclude people from seeing your ads.
Make sure you are excluding real estate agents, real estate brokers, real estate associates, etc., from seeing your ads unless it is an ad promoting your listing.
At this time, Facebook is absolutely the best place for the best price for marketing to your niche audiences.
Here is a video from Gary V at Inman where he is talking about how if you are in real estate you better be on Facebook.