The average Facebook lead is 6.7 months out from working with a realtor.
But that’s true for all online leads and not just Facebook. You will, of course, get some leads ready to move ASAP, but those will be the exception. Consider Facebook leads as a great way to build up your pipeline. And please keep in mind that you are wasting your time and money with online marketing unless you have your lead follow up strategy dialed in to ensure you convert the highest amount of online/Facebook leads as possible. More on follow-up here.
Steps To Be Successful with Facebook Lead Generation:
#1: You need a website which allows potential buyers to run their home searches from your site and allows potential sellers to request home valuation reports.
#2: Your website must have a lead capture tool. For best results with buyer leads, you want a pop up forced lead registration box that will show up on the first website click. For sellers, you will need a lead capture tool that requires a property address along with name, email, and, potentially, phone number.
#3: The ability to install a Facebook Lead Conversion Pixel on your website, which will allow you to track your true cost per lead and see who is converting at the best rate. For example, you can see if it is men or women, age range, desktop/mobile device, etc. The pixel is very important!
#5: Once your site and pixel are set up, you need to make sure your potentials leads land on the right page, which is always the page your ad promises. As an example, if you are running an ad for: “Single Family Detached Homes in XYZ City with Swimming Pools”, the page they land on must feature single-family detached homes in XYZ city with swimming pools. Once you create the landing page search on your site, copy that URL link and take it to Facebook.
#6: Understand the picture is 50% + of the success of the ad. You have two seconds or less to capture your targeted audience’s attention while they are scrolling on Facebook. The picture is always the best way to get their attention.
#7: From your business page Ads Manager, choose “Conversions” as your ad type. At the end of the day, all that matters is your cost per lead, which will allow you to know/track your true cost per closing, AKA ROI, on this lead source.
#8: Run multiple “Ad Sets”, AKA split test. For example, run an ad to: Women Mobile Newsfeed, Women Desktop Newsfeed, Men Mobile Newsfeed, and Men Mobile Desktop. So you can get more targeted with “Interest/Behaviors” if you choose to.
#9: Select your image, and then add your URL, along with your “Headline” and “Text”. Facebook is backwards, as they have the “Headline” below the image, and the text above the image. Remember, the picture catches attention. Then, the headline and text exists to create curiosity, so the potential lead will take action, and click on your ad.
#10: Select a “Call To Action Button”. You can’t go wrong with choosing the “Learn More” button.
#11: Now, this is a more advanced technique, but you can go into “Power Editor”, and re-create the other Ad Sets as discussed in step #9. You can also test numerous photos inside Power Editor. Quick Tip with Power Editor: You must use Google Chrome to operate Power Editor.
#12: Start small and scale up slowly. I recommend starting at $5 per day, per ad set. Let the ad run for a couple days, and then shut off the non-performing ads, and then slowly scale up the performing ad sets. Always scale up slowly. 25% every few days is a good rule of thumb.
#13: If your Facebook Pixel is installed on your website, make sure to use/watch the “Demographics Tool” inside Ads Manager, which will allow you to see what age group, etc. is getting you the best cost per lead, and you can make adjustments accordingly.
If you are new to Facebook Ads, I know this is a lot of info and can be confusing, but it is well worth taking the time to learn. The great news is, there is a ton of free “How To” content on YouTube. Now that you know the important steps to be successful with your Facebook Lead Generation, you can start doing research, if needed, to dial in each step.
Facebook continues to grow and is not going anywhere any time soon. It continues to be more and more effective for Real Estate Lead Generation, and can help you massively grow your Real Estate Business!
Thanks for reading!
Joshua Smith, Realtor/Mentor/Entrepreneur
-Voted 30th Top Realtor in America by The Wall Street Journal
-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily