In a world filled with extravagant promises, such as generating 100 leads in just 90 days or the recent price increase by REA, it's understandable that you might believe the only way to achieve results, whether in the form of leads or inquiries, is by spending thousands of dollars on advertising.
But let me assure you, that's simply not true.
Allow me to share a screenshot I took this morning from a campaign I'm currently running for one of my members.
We've been running this campaign on Facebook and Instagram for approximately three weeks, and the results have been truly remarkable.
Take a look at these numbers:
137,277 individuals have viewed the property listing on social media.
5,010 people have shown enough interest to visit the agent's website directly, bypassing REA or Domain.
The total expenditure on the ad amounts to a mere $87.22.
It has cost us just $0.02 to capture the attention of someone on Facebook or Instagram and motivate them to explore the property further.
On average, each person has seen the ad 2.7 times over the past three weeks.
Now, let's imagine if this were a brand awareness ad, designed to establish your name and face in the minds of potential clients.
This scenario is equivalent to:
Making 137,277 phone calls in just three weeks.
Engaging in conversations with 5,010 people within the same timeframe.
Distributing 137,277 leaflets, with 5,010 people actually taking the time to read them and make a decision regarding further engagement. All of this achieved with a budget of only $87.22.
Now, ask yourself: Do you really want to waste this opportunity by immediately asking if they'd like a price update? And what's your plan if they respond with a "no"?
This is precisely why having a strategic plan in place is so crucial.
Let's consider the following example using statistics from Domain.com.au this morning. In the targeted suburb, there are 4,636 residents.
However, according to Domain, there have only been 76 property sales in that area so far this year. This means that 4,560 people in the community have not shown immediate interest in selling their property.
Considering that the majority fall within the 20-39 age range and there is a slightly higher rate of homeownership than renting, how long do you think it will take before your constant inquiries about their intention to sell become tiresome to the marketplace you are trying to reach?
Moreso, with every other agent in your area running the same types of ads, how do you stand out?
This is why it's absolutely crucial to understand your market and what interests them.
Allow me to provide some examples of individuals you may be overlooking with your current immediate call-to-action strategy:
Parents with children finishing school this year who prefer to wait until 2024 to make a move.
Individuals eagerly anticipating the arrival of spring.
Homeowners with renovation projects that require attention.
Property owners with tenants in place for the next six months.
Consider the value you can offer to these people.
Given the remarkable reach of 137,277 and the impressive engagement of 5,010 individuals, wouldn't it be wiser to switch up your ads weekly to cover ALL segments of your target market? This is exactly what we provide in our agent portal. All the tools to create cut through ads.
This approach ensures that you're building a healthy pipeline for the future, rather than solely focusing on the data that goes into your CRM today.
Always remember, when people are on social media, they care about what matters to them. Their primary concern is not putting money in your pocket.
By recognizing the importance of building a powerful brand and tailoring your advertising efforts accordingly, you will pave the way for long-term success in the real estate industry.