With any type of real estate lead generation campaign, you always want to make sure you do this one thing. This one thing can make the difference between a good year and an average year in terms of sales.
This one thing that I’m talking about is called retargeting. You may have heard the word, but you may not grasp exactly how you’re supposed to use it and why it works so well.
Today my goal is to help you better understand Facebook ad retargeting – why it’s so critical and how to use it correctly. I’ll go over three very easy-to-launch strategies that you can start in just a matter of days.
Before we get into the actual strategies and exactly how they work and why they work, I want to take the time to go over what retargeting is and exactly why it’s one of the most critical things that you can do as a real estate brand in 2017.
Ad retargeting really started almost a decade ago in the web and didn’t quite make its way to Facebook until several years ago. One of the top companies that mastered retargeting – and helped to basically create and engineer what retargeting is today – is Amazon.
Have you have ever gone shopping for a pair of shoes, a camera, or some other item on Amazon, and then you started seeing ads for that exact product follow you around the internet? That’s because you didn’t buy it or you didn’t go through the checkout process. That means you have experienced retargeting.
This specific retargeting that Amazon does is called dynamic or liquid retargeting, and it actually takes the exact product that you’ve looked at and starts to retarget you with it.
Now take the same idea and apply it to hotels, air travel, clothing stores, and then one of the largest assets in someone’s life – Real Estate.
Worldwide, the top marketers use and leverage retargeting as a key strategy in all of their campaigns. The reason why is because retargeting has such a high level of return on investment. Eighty-nine percent of marketers and brands use it for brand awareness and to bring customers back to either complete a purchase or re-engage them to take a specific action, or influence and persuade them to use a service or a company.
Now if we consider this idea of retargeting and apply the practice of it to a Real Estate campaign, we first have to take a look at the consumer and look at their journey either as a buyer or a seller.
Studies have shown us that, on average, these consumers are looking at 4 to 7 other real estate websites that are your competition, and that could include some of the larger bigger brands like realtor.com or Zillow.
So if we take into consideration that these people are browsing on multiple different real estate websites and they’re probably looking for a house, they may need to sell a property. They have specific pain points and they’re in a specific life stage where they need to plan and take some sort of action and eventually hire a real estate agent to help them.
So applying the retargeting strategy as a Real Estate brand is critical because if these consumers are shopping on multiple websites and left those websites without making some sort of contact or converting into a lead, then retargeting is going to be your next best friend.
Let’s take a look at the consumer’s journey again. They’re visiting multiple websites, they’re looking for a specific home, and they’re seeing ads online that are pulling them in multiple different directions. Either organically or by paid traffic, they end up on these real estate websites. If we are using retargeting ads correctly, we want to address this person’s pain points and provide either some sort of value or reciprocity to help them in their decision-making process.
Another scary statistic here is that people forget about 80 percent of what they had read online the night before. So you as a real estate agent and your website might fall into that statistic if you’re not using retargeting to bring those consumers back. If you don’t remind them that they were on your website and that you do, in fact, have the solution to their problem, then you may have just lost a potential customer forever.
So retargeting is a great way to win back leads that visited your website and have them return to view your properties, or retarget them by providing some items of value to download, essentially recapturing those lost leads.
One of the methodologies that we use as a Facebook marketing agency is called priming and reminding. This is a Facebook retargeting strategy where we prime the audience with an ad to get them to your main website or landing page. Then, using a Facebook retargeting pixel, we remind them later on after they have left the website or landing page with another ad that is more specific to the real estate needs of that consumer. Without going into too much detail, this methodology is retargeting at its simplest form.
There are literally hundreds of different ways and different strategies to really leverage Facebook retargeting. But today I’m only going to cover three without overwhelming you and making it seem like a difficult task.
The first strategy we’re going to cover is how to retarget anyone that has visited your real estate property search website. Essentially you want to retarget these people and bring them back through your website because they are looking for homes, and you want to remind them that your website is the place where they will find their next home. You want to convert them or get them back on your site to then possibly engage with them on some level. The whole idea of retargeting is twofold. The first purpose is to get the person back to your website to increase the opportunity for engagement and to start a conversation where you get them to convert into a lead. The second is brand awareness – getting them to become more and more familiar with your brand by having it seared into their brain so that your real estate brand is the solution to the problem.
In this video I go over exactly how to create this type of ad campaign.
The second strategy I’m going to show you is for leads that you may have captured in the past. (These may be old or lost leads that you gathered maybe six months or a year ago.) These leads are still good leads, and this strategy is a great opportunity to tap into them by offering something of value that they can download and read. This helps position you as the expert and the authority figure in your market.
This type of strategy helps to create reciprocity and position you as someone the sellers can work with and trust. It also gives you a competitive edge by helping to educate and nurture these leads so that when you do follow up with them, it’s more of a warm call versus a cold call.
In this video I show you exactly how to create this type of ad retargeting campaign and what the strategy is and how to launch it.
The third and final strategy that I’m going to show you is leveraging all of your ads, your business page, your videos – anything that you have run on a Facebook business page for your real estate business – and exactly how to use it to retarget anyone that has interacted, commented, liked, shared, or even visited. This is a great way to run ads to people that are familiar with you and that have expressed that they are interested in your ads of any type, in any way.
I’m going to walk you through exactly how to do this step-by-step in this video.
Now these are just three strategies out of literally hundreds that you can use with Facebook ad retargeting, but essentially what we’re trying to do is give you a leg up and give you a higher skill set. You can start to utilize these right away and, as you do, you will probably get creative and brainstorm and find some really new, fun ways to be able to retarget and win more business.
When retargeting is used correctly and used with a goal in mind, these strategies can help you win more leads, close more homes and grow your business.
Personally I have used retargeting on the web and Facebook to grow three separate companies over the past several years. I grew my Real Estate brokerage and won more listings with it, then eventually sold that brokerage. I also used retargeting to help grow my software as a service company, and for our Facebook advertising agency for Real Estate.
Each one of these companies I’ve been able to grow by leveraging Facebook and retargeting ads, so as you can see I’m a big fan of this method. It helped me tremendously in my life and my business, being able to grow and create more opportunities on a daily basis.
Travis Thom is an expert in Facebook lead generation, re-targeting strategies and owns and operates a Facebook ad agency as well was a single property website software as service company helping agents around the world elevate their marketing online.