July 20, 2020
It can be tough to figure out the right way to market your mortgage and real estate business online.
There are a lot of options out there, and it can be a little confusing to find out which one will work best for you.
Personally, We are big fans of Facebook ads.
Marketing on Facebook can be a great way to kickstart your mortgage and real estate pursuits.
But why Facebook?
1) Everyone is On Facebook
The biggest point in Facebook’s favor is really the most obvious one - it’s huge! Everybody has a Facebook account, or at least an account with a service owned by Facebook.
According to the most recent numbers, over two billion people use Facebook every single month. Imagine having access to a couple billion potential customers, and what that kind of reach could mean for your mortgage business.
But it’s not just the fact that everyone uses Facebook. When people get on Facebook, they tend to stay there browsing for a long time. That means more opportunity to get eyes on your marketing.
It’s estimated that one out of every five minutes spent on the internet is on Facebook or Instagram, which is owned by Facebook. On average, people spend over two hours a day on social media.
That’s more than the average person spends eating or driving!
2) Facebook Ads are Cost-Effective
Compared to most options, Facebook ads are extremely inexpensive, which makes them ideal for someone with a modest marketing budget.
You can get started with a Facebook advertising campaign for as little as $10 a day - $10 to reach a potential customer base of over two billion people.
Compare that to other advertising programs, which can cost you up to $60 for a single click on mortgage or real estate related keywords.
That’s a huge bargain!
If you’re looking for a cost-effective way to market your mortgage and real estate business, you really can’t do much better than Facebook.
3) Facebook Ads are Targeted
We’ve all read the news stories detailing how much information Facebook gathers from its users.
Facebook has one of the world’s largest databases of personal information, all gathered voluntarily from social media users.
Maybe a little creepy for the users, but this is a huge bonus for you! (don't forget to follow all equal housing laws, consult with your branch manager or company)
The data that Facebook collects means that you can target your marketing specifically to key demographics.
This is critical for running an effective ad campaign, especially for a smaller business that doesn’t have the budget for a wider approach.
After all, you wouldn’t try to sell refinancing to renters in their mid-twenties, right?
With Facebook targeted ads, you could focus your refinancing marketing on middle-aged homeowners in your area, saving a ton of money.
Facebook ads are also what are known as “passive” ads. This means that they’re targeted towards people who may not necessarily be looking for your product specifically.
With search engine marketing, your marketing will only be shown to people who are already searching for mortgage and real estate keywords.
But with Facebook, you can reach people who may not even know that they’re interested in your services.
This is a great way to broaden your customer base.
Of course, you shouldn’t just take my word for it. Always make sure to do your own research when it comes to making the right decisions for your business.
But for my money, Facebook is the best platform for mortgage and real estate marketing by a landslide.