In this day and age, many people especially the millenials have a notion that if you don't exist online it's as if you don't exist at all.
This is why businesses utilize marketing in the internet and the real estate business is no exception.
Today we'll dive in to the use of Facebook Ads in terms of digital advertising. Facebook is still considered the juggernaut of social media and while this might sound like it would be helpful to your marketing strategy, I would like to discuss with you the 3 reasons why realtors should stay away from this paid advertising.
1. Facebook is Time Consuming
You will be on your own from the moment you set up a Facebook Business account and start creating your campaign using Facebook Ads. You also have to spend an ample amount of time creating (and tweaking) relevant content and posting them on your Facebook page. To stay visible you have to post at least 2 relevant pieces of content per day.
Another thing is that you will mostly be reaching people early in the "buying cycle". With Facebook Ads, you'll be mostly reaching out to people not really actively looking for buying or selling a home. Yes, you would spark these people's curiousity and interest in the services you offer but some of them will be irrelevant, some of them will need a long time for nurturing your relationship and some would not be committed enough to the transaction so your time talking to those many people would be wasted.
2. Facebook is a Noisy Environment
Facebook is a noisy community.
There are lots of cat videos, online game invitations, latest makeup released by the Kardashian sisters, and other viral stuff being shown on each person's newsfeed. It's a social network, not a business network after all. This means that your real estate ads might not be seen or noticed as much. You will have to pay more in order to boost your ads for them to reach as many people and those you want them to be seen by.
Just a dose of reality, the one who pays the most gets the most advertising as well.
Are you really willing to pay that much when there are other online platforms you can use for your purpose? (hint: LinkedIn)
3. There's Not Enough Engagement
You also have to consider the fact that almost one-third of the profiles in Facebook are either fake or dormant. You will be wasting your time and money for those accounts.
Another thing to consider is that people will have to be logged in to their Facebook accounts in order to see your ads.
Once they're logged out, your ads will be out of sight too. Not only that, they might be logged in to their Facebook accounts but they might not be really scrolling thru their newsfeed which is the only spot in Facebook where it will be shown.
Some people log in to Facebook only for sending and receiving messages, some of them only check for notifications or new "friend requests". Some of them only follow certain people in their network or their favorite celebrities and other personalities or "pages".
With these information you have to think about the huge possibility that there will be little to no interaction at all with your posted Facebook Ads.
Here's what do instead
1. Double down on your referral strategy
Referrals are the life-blood to your business, so why not go "all-in" with this strategy. Model what has worked for you in the past and find ways to magnify those results.
For example, did you get a referral from a recent sale you had in a certain neighborhood? Why not join community functions and mention your client's name at these functions. Ask your client if it's ok if their neighbors contact them and ask them about you. This will now turn one or two referrals into several.
2. Thoroughly clean and contact everyone in your database
You really should clean and organize your database at least once a month. Don't forget to set follow-up reminders for EVERYONE. The biggest mistake with agents not bringing in new business is lacking consistency in their follow-up. Be relentless!
3. Use LinkedIn instead
LinkedIn is really becoming a better social network for doing business, especially with real estate. Members act a bit more "serious" on this platform and don't like to waste time on it for anything not related to doing business - which includes real estate.
I hope this article helps you decide how to bring focus back to your business. Have a great week!!
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