After completed the 24 weeks Digital Marketing course organised by Avado (powered by Goggle/Hubspot) in Mar 2021, I would like to take a moment to assess the possible digital marketing platforms to support the real estate business in this digital era as this has become essentials to be successful in real estate.
A digital marketing platform is a solution that supports a variety of the functions like search, display, analysis, optimise, report to enhance advertising within the realm of marketing over the internet. A more complex approach is to include cross-channels marketing which we will not cover in the discussion here. Digital advertising however is a form of marketing activity where business leverage internet technologies to deliver their promotional advertisements to customer.
There are various digital marketing platforms available, the common ones are FaceBook, Instagram, Twitter, Youtube and Goggle which each platforms have its benefits. The 2 common ones are Facebook Marketing and Goggle Marketing and I will focus on Facebook (FB) here and leave Goggle Marketing for future sharing. Currently FB has more than 2.8 billion people using the platform every single month and two-thirds of Facebook users report visiting a local business Facebook Page at least once a week.
The benefits of online advertising compare to traditional advertising besides been cost-effective are:
- Build brand awareness
- Increase the spread of information
- Drive buyer behaviour and provides retargeting to curious buyer
- Use repetition to improve sales
- Provide multiple purchase pathways or channels
You may refer to the slides from Hubspot below on how to craft out a FB winning strategy:
The structure of a Facebook advertising campaign consists of three levels: a campaign, an ad set, and an ad. The first level, the campaign, is the basis of your ad. At the campaign level, you choose your goal, which is the action you want people to take when they see your ads.
Facebook advertising has three objective categories: Awareness, Consideration, and Conversion. To start marketing in real estate, let’s use the proposed customer journey to be mapped to your marketing plan as followed:
Let say you are first time using FB in digital advertising and you will need to create awareness for the audiences to browse your FB page or posts.
- First you need to create a FB Business page. You also need to create an story or post with nice hooks and captions for audience to read once they land onto your FB page. Try to made your story unique with hooks and create impact to the audience looking at your page/post.
- Once this is done, go to Ads Manager. Ads Manager is a FB tool that lets you create and manage your FB ads. You can view, make changes and see results for all your Facebook campaigns, ad sets and ads. With Ads Manager, you can:
- Create ad campaigns.
- Manage multiple ads at once.
- See how your ads perform
If you prefer a mobile device experience, you can also download Ads Manager app for Android and iOS. Note that not all features available on the website are available via mobile.
3. Once you created an ad campaign base on one of the three objectives category, you will need to go the the Ad Centre/ Audiences to build/profile your ideal audiences that you are targeting. This is important as choosing the right demographics (include location that go down to district/postal code level or by radius of pin drop point) and interests for your ads can save you money from FB advertising. You can also choose what kind of people like estate agents you want to exclude from your advertising list.
4. Finally you need to choose a monthly or daily budget to “boost” your ads to the FB audiences that you had profiled, this can range from few dollars to few ten of dollars daily. Do note that there are multiple factors that affect the cost of a Facebook ad. Right from your target audience, bidding plan, time of showing your ad, Facebook ranking, bid with competitors, objective, quality of your ad, and the list goes on. Generally there are four types of bidding options, CPC (cost per click), CPM (cost per impression), CPA (cost per action or conversion) and CPL (cost per like) for you to choose base on your business objective.
5. The last stage of the campaign structure is the ad level, otherwise known as your creative. Your ad is what your customers or audience will see. This is where you choose your ad format and creative including images, videos, news feed text, URLs, display link text, and a call-to-action (CTA) button.
6. You may fine tune your FB ad to advertise your post to the audiences if the results is not up to expectation. You may change the profiling, time of advertising or introduce new ads when the relevance score of your current ads decreases. You can also made use of A/B testing by split test with different content copy, image or ads format. However it is recommended to let the campaign/ads run for around 2 weeks to settle down before making any change as this will enable you to compare the effectiveness of the changes.
You may not need to own a website to conduct your FB marketing. However some may choose so to include their blogs and also made use of free Goggle Search Engine Optimisation (SEO) or paid Search Engine Marketing (SEM) to enable search on potential audiences in the Internet to your web site.