.svg)
.png)
In our lastest blog post, CINC's Facebook lead ads expert, Harry Kierbow, described how CINC's real estate marketing team increased mobile conversion rates for our clients by more than 200% this year! Now, in the 4th and final installment of Harry's 4 Tips for Optimizing Your Real Estate Facebook Ads, Harry discuses how focusing on the right Facebook ad performance metrics can directly translate into your closing more deals.
The Ultimate Guide to Facebook Marketing: Hear from CINC's Real Estate Marketing Experts
Failing to plan is planning to fail…
A cliché I admit, but you know why things become clichés? Because they’re undeniably true.
Clients will send us ad formats and say, “Well the guy who is running this ad said he got 100 likes and 25 comments, and so on and so on…” Our question is always the same – how many leads did this ad generate? Many times, the phone goes silent. The objective has not yet been defined here.
How can you tell if a campaign is successful if you have not first defined success? Don’t think too hard – you can’t.
Before you start any campaign, sit down with your team (or your dog if you don’t have a team yet) and ask yourself these questions.
- What is the overall goal of this campaign?
- To whom do I need to show these ads in order to reach that goal?
- What key messages do I need to convey in my ads to reach this goal?
- What metrics should I measure to define whether or not I’ve reached my goal?
Once you’ve answered these questions, designing your campaign becomes a much less formidable task.
Here’s an example –
- What is the overall goal of this campaign?
- To generate leads looking for affordable first time homes in Marietta, GA.
- To whom do I need to show these ads in order to reach that goal?
- Renters and potential first time homebuyers between the age of 25-40 with a household income of at least $40,000 per year who are currently in Marietta and a radius of 15 miles around Marietta.
- What key messages do I need to convey in my ads to reach this goal?
- Affordability of the homes, availability of down payment assistance programs, likelihood of interest rates to increase, similarities between their current rent amount and a potential mortgage payment, value of home equity
- What metrics should I measure to define whether or not I’ve reached my goal?
- Cost per lead, cost per click, conversion rate, lead to appointment ratio, cost per appointment
After defining the criteria above, it becomes much easier to then create an ad that speaks to your audience.
Here’s a sample ad: 
As you can see in the example above, when it comes to success metrics, measurement shouldn’t stop at cost per lead or conversion rate – 300 crappy leads doesn’t do anyone any good.
Our Recommendation: Go beyond the top of the funnel and look at follow-up success. Find ways to source your ads specifically and then analyze results after 3-6 months of a campaign.
When Marketing your Real Estate Business on Facebook, It's Important to Focus on Your Objectives – Don’t Let Yourself Get Lost in Meaningless Metrics!