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US adults now spend an average of more than 3 hours per day on their smartphones, an estimate that was recently revised up due to Coronavirus quarantines. Over a third of that time (1 hour and 15 minutes on average to be exact) is spent on social media - with 1 hour and 4 minutes spent on Facebook and Instagram combined.
The social audience has grown and competition has decreased, making now the perfect time to harness Facebook and Instagram to advertise your real estate business. The average CINC client has seen a 35% drop year over year in the cost to show ads 1,000 times.
You're not the only one who gets this, though. NAR estimates that as many as 80% of real estate agents use Facebook to market their business. So how do you stand out from the crowd? Here are 6 things you should be doing now on Facebook and Instagram to find your next buyer or seller.
1. Think Mobile First
266 million Americans access Facebook via smartphone at least once per month - that's 80% of the US population. If you aren't thinking mobile first, you're losing customers.
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When you make ads, be sure to test them in mobile. Does your landing page load quickly and display well on mobile? Are your images sized properly for mobile? You can test your ads within Ads Manager to make sure this is the case. Here's how:
- At the Ads level within Ads Manager, click the button in the top right.
- Here you can choose from several different options, including sending yourself previews for mobile on both Facebook and Instagram.
- Use these tests to click through your ads and make sure your experience is as smooth as it can be.
Also, consider using post types that are meant to be consumed on mobile, like short videos (15-30) seconds and Lead Ads. Lead Ads are not only made for mobile, but also drive leads with higher contact validity as the lead's information is pulled directly from their Facebook profile.
2. Lead with Value
Ask yourself this question: Are your cat gifs really furthering your business goals?
Instead, post things that would bring value to potential clients. Did a new park or school just open in a neighborhood you serve? Put a quick blog post together that predicts what effect this will have on property values in the neighborhood, highlighting why now is a great time to get top dollar when you sell. Showcase your expertise when it makes sense. Make sure you follow the 80/20 rule - 80% of your content should be helpful to engage with people and the other 20% should be promotional.
3. Use the Stories Placement
Stories provide a full screen takeover for your ads. The image/video size for a story is 1080x1920. You can use free tools like Canva to create well formatted posts for Stories quickly and easily. You can also grab free-to-use stock images and videos from sites like Pexels.com, Unsplash.com or StockSnap.io. We made this graphic using a free video from Pexels.com and Canva.
By the way, if you haven't yet, you should totally follow us on Instagram.
4. Use Native Options Like Facebook Live to Host Video Open Houses
Need to host a socially distant open house? Facebook Live is a great option for this. You can show homes to a large audience using your smartphone. Create an event on your Facebook page to let people know when you'll be going live and invite prospects most likely to be interested.
5. Use Dynamic Retargeting to Stay in Front of Potential Clients
At the top of this post, we talked about Facebook's falling cost per impression since the Coronavirus. Other networks have seen similar decreases in cost as well. This means that traffic from almost any online source right now is more efficient than it's ever been and you're getting more traffic to your site from your ad spend than you ever have. With this in mind, now is the time to lean into retargeting campaigns across Facebook and the Google Display Network.
ListCast, CINC's Dynamic Property Remarketing, shows homes similar to what people are already searching for on your site - nurturing leads just like a property alert would but in a more accessible way. Read Facebook's Case Study on how CINC drove a 13.8% ROAS for a client using ListCast here.
You can learn more about ListCast at cinclistcast.com.
6. Find a Marketing Partner You Can Trust
The typical real estate transaction now involves over 200 complicated steps - many of which take place after your client finds the home of their dreams. At the same time, research indicates that real estate agents spend around 9 hours per week managing online ads. Those 9 hours could be better spent away from the office: showing homes, meeting new clients, networking, etc.
With this in mind, it's important to find a vetted Marketing Partner that you can trust (did we mention we're a recognized Facebook Marketing Partner for Real Estate Advertising). Find a company with a proven track record of success that you can trust. Let them manage your ad spend (with your input) and focus your time on selling homes.
Learn more about how the CINC + Facebook Partnership can help you grow your business. Schedule a 15-minute call with one of our Product Specialists today.