Introduction
Social media marketing or digital marketing as it’s most commonly know has changed the face of marketing forever. Never in our history has there been a cheaper medium to get the message out to the masses and such an incredibly low cost. The Real Estate industry has been slow to adopt this technology and in many cases has implemented it poorly. At MP Digital Media we have a background in realestate and most of what we do for our clients has been tested in our own transactions so we know what works and what doesn’t.
The Challenge
In Australia today most real estate sales are advertised on portals such as realestate.com.au and domain.com.au and whilst these portals attract many buyers, they predominantly attract the active buyer, that is the buyer looking to make a purchase now.
Most often a property that is being sold would benefit greatly by also attracting the passive buyer i.e. the buyer that is not necessarily looking to buy today but would be influenced to make a decision to buy today if they were shown the right property. Typically up until recently, newspapers and property magazines were used for this type of marketing but it comes with inherent problems such us large cost and most importantly not knowing if it actually works.
The Solution
Social media marketing for real estate is the answer. There are many benefits that this type of marketing offers the property seller, here are the main ones:
1. The cost to reach thousands of buyers is considerably less than traditional passive marketing
2. The feedback and analytics available allow the refining of the campaign so that it targets exactly the right buyers
3. Interested buyers can be retargeted to keep showing them the potential property from many different perspectives thus keeping the property "top of mind"
Implementation
To implement a successful marketing strategy using Facebook and Instagram ads there are 2 main areas to setup:
1. A custom landing page for the property that is being sold needs to be created
2. Facebook ads, typical in the form of videos, are created
Typical property landing page and facebook ad with analytics
What are the costs?
The costs to deploy this type of marketing is as follows:
1. SETUP & MANAGEMENT - These costs are for designing and creating the property website and social media collateral & maintaining and tweaking the campaign. Typical this would range from $500 - $1,500 and is a "one-off" payment per campaign
2. ADVERTISING SPEND - This is the per day/week budget that is set to "get the message out" to the public. Typical budgets range from $5 - $20 per day
The average campaign would run between 30 - 90 days and the bulk of the setup & adjustment is completed within the first 30 days. Once the campaign is optimised then it's just a matter of maintaining the advertising budget until a successful result is achieved.
I look forward to helping you achieve your property marketing goals.
Yours Sincerely,
Max Pisano