Retargeting Advertising: Generate More Leads from Your Real Estate Ads
A 2013 Nielsen report showed that customers would more readily engage with a familiar brand than a random one. And this works on the familiarity principle.
The familiarity Principle, in short, explains the reason why repeated exposure to certain people or experiences will increase our attraction toward these people or experiences. It is more notable when making decisions. For instance, we’ll choose objects or people we’re familiar with over those we’re not. Polish psychologist Robert Zajonc conducted an experiment in the 1960s where Chinese characters were exposed for short periods to two groups of people.
The subjects were then told that each symbol represented adjectives and were asked to guess if each symbol held either a positive or negative connotation. The result: symbols the subjects had previously seen were consistently rated more positive than those they had not.
This process of making decisions is subconscious. It is why retargeting advertising works for real estate and many other industries. Retargeting means that you leverage this subconscious familiarity to create more engagement with prospects.
Keep in mind that out of every 100% of visits to your website or landing page via either social ads, PPC or any other outreach system, only about 4% convert. This means that 96% of website visitors would leave without taking any action. But what if there was a way to follow up with the 96% and make your message visible as they browse their social media feeds?
Fortunately, there is. Retargeting. Investpcro puts the average conversion rate for businesses using retargeting at 55% – a whole lot better than 4%.
Here are some reasons why retargeting advertising works for real estate:
1. It creates brand awareness. You can get more people familiar with your brand. Increased brand awareness means that you stay longer in a prospect’s mind.
2. We love to be reminded of stuff. When people are reminded, they’re encouraged to work with you because they feel you’ve put more effort into getting their business.
3. It feels more personal. Messages that speak directly to us catch our attention. Retargeting ads do this in a subtle way.
How does retargeting work?
Retargeting or remarketing allows ads to be customized to users based on their interactions with your website. It works via cookies, which are designed to hold a tangible amount of data specific to a particular website visitor.
It began with Google Adwords remarketing in 2010 then Facebook’s FBX retargeting in 2013. Fast forward to 2018, retargeting has now become sharper and improved to target potential leads and serve them with personalized ads.
How to employ retargeting advertising for real estate marketing
1. Send out direct mail to qualified leads.
As simple as it sounds, this retargeting strategy can be very effective – direct mail generates a response rate of 4.3%. With direct mail, you don’t have to deal with things like digital fatigue, ad blockers, and spam filters. Plus sending out direct mail allows you to take advantage of real-life personalization to create trust and brand awareness.
2. Create beautiful listing ads.
You can create beautiful ads featuring one or more of your listings and re-target these to people from a particular area who visit your website. You might even gain a number of potential seller leads as this shows you’re putting in more effort into marketing listings than the run-of-the-mill agent.
3. Make your brand conspicuous.
The point is to create brand awareness. Even if your ad doesn’t lead to an instant sign up or conversion, folks should be able to recognize your brand. Put your logos in your marketing materials including printed ads. Make your ads stunning and don’t forget to showcase your unique value proposition.
4. Reach out to past clients.
Past clients are easier to convince than new leads. Retargeting presents a great way to stay top-of-mind with your previous clients without appearing too pushy. They see your expertise in action. This could prompt them to revisit your website or engage with your brand again.
Best practice for retargeting ads
1. Segment your visitors.
When you segment your visitors, you can deliver personalized ads to users based on which stage of the purchase cycle they are. You can use remarketing lists to add users to specific groups. Google Adwords recommend creating lists such as “homepage viewers”, “category viewers” and more. You can create a list based on people who viewed your listings.
You could also target people who have already filled a form on your website and enter that list into Facebook ads (lookalike audiences). This allows Facebook to use this list as a point of reference to search out users who have good potential to convert. Ensure your message is customized to each segment of your retargeting campaign.
2. Have a clear call to action.
While there are many reasons why a user may not want to take an action on your website. Retargeting ads allow you to follow up with an offer that may catch their interest. You can customize an offer for each segment of the purchase cycle.
For example, if someone visits a home valuation landing page, what are their objections? They might not be looking to take a home selling decision at the moment. Your retargeting offer would address this objection probably by promising “free information that could help them determine the value of their home in a few minutes on their own.” In return, you get an email subscription. The essential thing is to have a clear call to action with your offer.
3. Don’t ignore timing.
You should consider three things when thinking about the timing of your ads. According to an Instapage article, these are:
The time duration between a visitor’s website visit and when they see your first ad.
The frequency with which visitors see particular ads.
Time duration between the visitor’s first visit to the website and the time when they stop seeing your retargeted ads.
Retargeting is great but you don’t want to spook your visitors out by having your ads display everywhere on their social media pages after they just left your website. You’ll need to determine how often you need to send out retargeting ads and space your ads efficiently within a time duration for list membership. After this time is past, prospects would have your cookies removed automatically from their browsers.
In both Google AdWords and Facebook, the default time duration for list membership is 30 days. Although you can change this as you wish, it’s important to note that most conversions would take place within the first 30 days of your campaign.
4. Target the right people.
To avoid wasteful spending, it’s wise to map out your buyer persona and exclude age segments that are less likely to engage with your offer. Google AdWords and Facebook ads allow this. For example, Gen Zs and seniors are probably not considering buying a new house.
Also, integrating with Google analytics allow you to examine the time spent on page for each visitor. Visitors that spend few seconds on your website, don’t click on any link on your page, are likely not interested in your offer. A visitor who reads your content, browses other pages, might be interested in your offer. You want to expend more effort on the ‘interested’ visitors.
5. Display ads in the local language.
One reason why retargeting ads work so well is that they sound personalized. Trying to remarket ads in English as a real estate agent based in Spain would make your ad less effective. While you may get some traction if your ads are catchy, you would likely achieve much better results by displaying ads to users in their native language.
Repeated interaction with people is a great way to create brand awareness and over time, trust. By using the right messaging and responsive designs, you can get the attention of the 96% of visitors leaving your website for competitor websites. So, while running after new leads is great. A wiser approach would be setting up retargeted ads with tailored messages to reach out to people who have interacted with your brand at some time. You can leverage the powerful retargeting tools of Google and Facebook; use direct mail to send out printed ads which complement your digital ads or use platforms like Retargeter or Adroll.
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