On the 397th episode of Mail-Right Show, Robert Newnan, and Jonathan Denwood discuss why real estate agents fail with Facebook ads in 2023 and explore the reasons and some tips to successfully generate results from your advertising efforts on Facebook. Robert Newman has worked in the real estate SEO business for over a decade and is CEO of Inbound REM, an inbound marketing firm. Meanwhile, Jonathan Denwood is Mail Right’s joint founder and CEO, providing a WordPress website with a lead generation platform and CRM, all combined at a reasonable price.
1. Choose the Right Objective
Depending on what market you’re in, you should be either looking at leads or traffic. Leads are the best, but it depends on what area you’re competing in. Now, it will get you traffic, but it will not be focused. Traffic is a broader term for the people they will send to your landing page or website; although cheaper, it might not bring real leads.
Now, there’s a common mistake many make. They see an option to “boost a post” on social media and think getting attention is easy. However, this often wastes your money. While it might increase the number of people who see your post, it only sometimes leads to meaningful engagement or actual leads. So, focusing on targeted traffic is essential for better results and not being tempted by the easy but less effective option of boosting posts.
Note that Facebook is not the most friendly interface if you use Ad Manager because if you do pay campaigns, you must set that up. You should go through some steps to protect yourself because if you’ve done any Facebook advertising for any consistent time, it’s very likely your account will be suspended. There are occasions when your account can be blocked forever. So, you need to set up another account and know how to set up your Google ad manager in a way that will cover your backside.
2. Ending your campaigns much too soon and with a small budget
How long do you keep the campaign running, and what budget is recommended?
Well, your budget depends on the area you are competing in. If you’re in a smaller city or semi-rural area with a population of around a quarter to half a million, the budget can vary based on how hot the local real estate market is. For example, if you’re in a city of half a million in Southern California, it’s a very different market compared to the Midwest.
Generally, the budget required for real estate advertising has increased over the past 2-3 years. This is why getting results for just $5 or $10 a day has become popular, but it can be unrealistic depending on the market.
When you advertise on platforms like Facebook, you must understand that it takes time for them to evaluate your campaign. They assess factors like the quality of your campaign, the visuals (graphics or videos) you’re using, the landing page you’re directing people to, and various other parameters. This evaluation process usually takes at least a week before they send traffic to your advertisement. So, a realistic budget and timeline are e