The majority of Brokers and Agents are not running ads on Social Media platforms for various reasons. Lack of knowledge, time, non-discriminatory targeting restrictions, and no desire to invest in ad spend are the most common reasons. Brokers should be investing in digital ads since they have more disposable income to invest in their firms. Agents tend to operate on thinner margins, so that digital marketing investments may be more of a challenge. But, Brokers and Agents should allocate monthly digital advertising budgets. It should be baked into their overarching Real Estate marketing strategy.
It’s crucial to know the difference between Impression-based ads and Lead Gen ads. There are common misconceptions that all forms of ads serve the same purpose and that advertising guarantees agents more leads. Neither is true. Advertising, in any industry, takes time to see results as you nurture consumers down the funnel to conversion. There is no “get-rich-quick solution” in the world of paid media. Not advertising at all will keep your business stagnant.
Impression-based ads will naturally build brand awareness and equity over time. Think of a billboard ad at a bus stop. The ad aims to generate awareness, increase brand receptivity, and brand recognition for all the people who pass by. These bus stop ads don’t have to be a call-to-action. They can also serve as a branding play as well.
There are hundreds (or thousands) of brokers and agents to choose from in each market. Facebook, Instagram, and Google impression-based ads help you stand out. They are a great first step in Real Estate marketing.
Lead Generation Ads
Lead Generation Ads are your call-to-action ads. They speak directly to the consumer (your potential clients) and ask them to do something – follow us on Instagram, check out our blog, come to our open house, swing by our office, sign up to unlock a special promotion that saves you money, etc. Lead generation ads expedite the path-to-purchase process with the consumer.