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Free Real Estate Case Study

Case Study:
31 Real Estate Leads in 7 Days

Introduction

I’m going to share you the thought process I used to get good results with Facebook advertising for my client and hope you gain some valuable insights and ideas to help you understand how I can do the same for your business even if you have:

        • No online reviews.
        • No customer list.
        • No seasoned Facebook pixel.
        • No special offers.
        • No unique selling point (USP). 

In this case study, I’ve generated 31 leads, both sellers and buyers, for the client in 7 days.

CLIENT: 

Small Real Estate Agency with a niche in long term rentals with operations across multiple areas/towns in La Marina Alta (Costa Blanca, Spain).  Each customer life value (LTV) is at least €10,000+.

CHALLENGE: 

Prior to working with me, they were using their Facebook page and multiple Facebook groups, next to publications of their portfolio on Real Estate portal websites like Think Spain, Zoopla, etc… to generate new enquiries. They were also new to the seller/buyer market as they were just doing long term rentals. 

Upon onboarding, I encountered a few challenges – they do not have any existing online reviews regarding sales; customer list or seasoned Facebook pixel, USP and are not keen on running any special discount, incentives or giveaways. 

OBJECTIVE: 

Find out if Facebook Ads can be a financially viable source of seller/buyer enquiries.

THE 5-STEP WINNING FORMULA

  1. Understanding the target market.
  2. Hyper-specific interest targeting.
  3. Daily budget velocity.
  4. Lead form (VS landing page).
  5. Market message match.

UNDERSTANDING THE TARGET MARKET

Knowing your target market (and customer avatar) is the absolute key with any Facebook Ad campaign so the first thing I did was conduct an interview with the client to learn more about their target market and ideal customer avatar by asking the following questions:

–>What problems/pain points do they solve?

–>What is their unique selling point (USP)?

–>What is their best service offering?

–>Who are their competitors?

–>What are the typical demographics of their ideal customer – age, gender, relationship status, children, location, education level, income, job title etc.

–>What are the typical psychographics of their ideal customers – where do they socialise, interests, hobbies, sports, books, tv shows, religion, spending habits etc. 

Next, I conducted competitive research to learn what their competitors are doing/not doing. Depending on market sophistication, you will need to hone in your targeting and/or differentiate your ad/offer from your competitors to rise above the noise.  

As I said earlier, the client is not willing to offer any discounts, incentives or give-aways, has no relevant online reviews, pixel has just been installed and furthermore, I was not able to identify a clear USP.

Their ideal customer avatar are people looking to go from renting a house to buying one, people looking to downsize interested in selling their house and buy an appartment.

“From the information and constraints provided, I decided that the best approach is to start off by targeting homeowners, use lead form and how I craft their messaging will be the differentiating factor.”

HYPER-SPECIFIC INTEREST TARGETING

I decided to launch with a smaller audience with one targeting homeowners in a specific town.
 
My reasoning to proceed with hyper-specific interests because it allows us to tailor our message to that segment of the market. Although, we may expect to pay a higher CPM, there is a higher chance of converting and a higher relevancy score will ultimately drive Cost per Link Click (CPC) down. 
 
The strategy here is to use the hyper-specific interest audiences to prime the ‘new’ Facebook pixel with as much conversion data as possible so I can build out Lookalike audiences (LLA) later on.
 
 

DAILY BUDGET VELOCITY

As I was more interested in priming the Facebook pixel to get as much conversion data for the lowest cost, the ad set daily budget were set to €5 (low velocity) and bidding strategy is auto – lowest cost. 
 
By letting the Facebook algorithm more time to find the right people for your campaign objective, you get the best Cost per Lead (CPL) particularly with hyper-specific interest where the audience size is small. A higher daily budget (high velocity) will burn out your audience rather quickly, increase frequency, and drive up CPL.
 
 

LEAD FORM VS LANDING PAGE

Typically, I will test both lead form and traditional landing pages to identify which perform better. As the client is not willing to partake in any special offerings and he does not have any online reviews I can use to demonstrate trust and credibility, I went ahead with just lead form.

 

MARKET MESSAGE MATCH

When crafting your ad copy, people don’t value what you offer unless it is made relevant to them which is why I advocate the hyper-specific interest targeting approach in this scenario. 
 
Below is one of the ads (Client identifier removed):
 
 

Things to note:

*I use emoji’s sparingly. 
*Capture their attention by calling out target audience. 
*Establish relevancy by asking a question; addressing their pain point(s).
*Since I’m targeting homeowners, I reiterate why they should choose the client. 
*Proper use of paragraphs and formatting to make it easy to read.
 
 

"Better than Think Spain or Zoopla"

A Testimonial From one of our Recent Clients

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