Online lead generation has become an effective strategy for Realtors if done right. Lead generation strategies are used to attract and then convert a prospect into a client, using the power of social and digital advertising tools.
Many factors play a role in effective ads, but today we are going to talk specifically about creating effective audiences. Your audience is one of the most important elements of a successful lead generation strategy. Your ads may be beautifully designed and perfectly written, but if you are targeting the wrong audience, you will not see an adequate return on investment.
Here are four audiences you may want to start building:
Website page visitors:
By installing the Facebook pixel on your website, you will be able to target website visitors via Facebook/Instagram ads. Why is this important? People who have previously visited your website likely already know about you and/or are interested in your services and are therefore a warmer audience. For example, for a listing on your website, you can target people who have visited that specific page with further ads about that specific listing on social media. You can also target people who have visited your listings page with more of your listings in future.
A lookalike audience is a brilliant way to reach new individuals who are most similar to your best and warmest audience. When we create lookalike audiences, we are creating a custom audience that best mimics another audience. For example, if we create a lookalike audience of website visitors, we are then going to be targeting people who match the profile of those who have visited your website. The audience that your lookalike audience is going to be based off is your source audience. It holds the data that your lookalike audience will try to best mimic. Source audiences include:
- Client information – Your newsletter database (you can upload your database as an audience and then create a lookalike audience of your database).
- Website visitors – People who visit your website can be targeted via ads, but they are also a great source audience for a lookalike audience.
- Form submitters – Running a lead gen ad already? You can create a lookalike audience of people who have already previously submitted a form.
- Engagers – Your engaged audience are people who like, comment, share and are consuming your content on your page. You can create a lookalike audience of people who best match the audience that regularly engage with your content.
Lookalike audiences are extremely effective in target marketing, bringing down the cost per click and cost per action.
Usually used for cold audiences and for those who are “brand unaware”, using interest-based audiences is a great technique to reach an untapped market and introduce yourself to those who may not know you or what you do, by targeting them based on their interests. The idea is to target people who are interested in services that you offer, or products (homes) that you are selling.
Some relevant interests may include:
- New home
- Residential home
- First-time home buyer
- Home building
- For sale by owner
- Real estate investing
- Real property
- Detached home
- Design and style
- Design inspiration
Facebook and Instagram will show your ads to people who are behaving in ways that express an interest in specific themes or topics that are relevant to you and your business.
Demographic targeting is used to reach an audience based on their age, geographic area, gender, parental status and marital status. This will help weed out people who are irrelevant to your offerings. For example, if you have a listing in Toronto, it may be a good strategy to target people within a specific age range and that live within a specific neighbourhood. If you are an area specialist, it may in fact be a great idea to target market that area based on geo-targeting (mass exposure in a neighbourhood – much like a bus stop ad or billboard, but instead it is delivered online!).
Ad strategy is extremely effective today, if done right. Spend some time building your audiences to ensure that you are being seen by the right people, which will lead to lower cost per clicks, and cost per conversions.