Facebook Ads: Friend or Foe?
Ever since Craigslist tightened their reigns, it made it close to impossible for us to generate a steady stream of leads from the infamous classifieds website, we’ve had to start thinking outside the box for new and innovative ways to get in front of consumers. I’ve heard mixed reviews on using Facebook ads to generate buyer and seller leads, so I figured I would go straight to the best source I know to determine if Facebook Ads are friend or foe.
I recently hosted a Power Hour Webinar with Bob Stewart (who we all know and love), and we jumped into the awesome world of Facebook Advertising to target buyers and sellers, and it turns out Facebook isn’t just for photos of food, pets, and personality quizzes. Who knew??
I was amazed at how specific you can get when creating Facebook ads. When you think about it, there are roughly 180 million people on Facebook, so how on Earth do you drill-down and target a specific niche or demographic? Well it seems Facebook has thought of everything. When creating your ad on Facebook, you can select specific criteria to shrink your audience, and target a certain type of consumer; you can start with a city/town name or zip code, and then from there, the options abound!
You want to target first time homebuyers?
Well, you can target renters in a specific area, and since married couples are the lion’s share of first time homebuyers at 56% (NAR, 2013), you could select married as the relationship status.
Maybe you want to target Baby Boomers who may be downsizing?
Pick your area, then select either an age range or you can select Baby Boomers as the generation. Then you can get even more specific by choosing only homeowners, and single family as the home type.
Perhaps you have a listing near a desirable workplace, such as Microsoft.
Simply select the area, and then you can choose the employer, so your audience will be made up of Microsoft employees, so you can market your listing to the most relevant and desirable crowd.
You can narrow down your audience by their income or net worth, so you can help weed out those “looky-loos” who might just be ogling your $8.5 million listing.
Bob shared some other great examples of ads that can target specific buyers and sellers, and also broke down the core components of a successful ad in this Power Hour Webinar – He really knows his stuff!
With Facebook advertising, there are so many possibilities and options for reaching a targeted audience, and the price is incredibly reasonable too – You could run your ad for a week for as little as $5 per day. Bottom line, I’m voting friend, because in my opinion, being able to target niches in your social sphere and get in front of relevant and specific audiences is darn near priceless.
What’s your vote? Friend or Foe?