Facebook's New Tool for Real Estate Ads
One of the toughest challenges agents face when promoting their listings is determining what listings to promote to what people. You don't want to spend money promoting a nice condo to people who are only interested in million dollar homes. This is an age old issue with online real estate advertising and luckily, Facebook has begun to take notice.
Dubbed 'Dynamic Ads for Real Estate', this new tool will help you advertise your listings on both Facebook and Instagram and, by leveraging cross-device intent signals, automatically promote relevant listings from your inventory. In addition, these ads will be filled with unique content and copy tailored to each individual.
This does require a bit of initial coding to set up, but the payoff can be huge! You'll save time managing your listing ads, while also ensuring you're always showing relevant information to an engaged audience.
Set Up Your Catalog of Listings
To get started, you'll need to build a catalog of your listings that contains the information needed to create customized ads. This information includes things such as the listing id, address, # of bedrooms, # of bathrooms, availability, and so forth. You'll want to think about the features that are most important to your market.
You can constantly update your catalogues so there's no need to get everything in there in the beginning. Start with the most important properties and information, then if you see the need to adjust moving forward, you can make any necessary changes. The key is to continually track performance.
Build Your Audience
Now that you have your catalog built for Facebook to pull listing information from, it's time to build the audience to show this information to!
To build your audience, you'll first need to set up user signals across your website. These include actions your visitors may take, like searching for homes, viewing a listing, inquiring about a property, and so on. When these signals are coded into the necessary pages, they'll need to be associated with your listing catalog IDs that we spoke about above.
Once these signals are set up, you can create source groups from them by grouping signals into specific “events”. Facebook can then use these groups as its source for generating the actual audiences you are going to target, allowing you to reach users who are related to the signals you've set up.
Create Your Dynamic Ads
Physically creating the dynamic ads isn't much different than it has been in the past, as the bulk of the work is setting up your catalog and signals beforehand. The main difference however, is in the way you need to think about your approach.
These ads will be served to what Facebook "thinks" is a good audience, based on your signals, so it's important to monitor closely and ensure you have your parameters set up correctly. In addition, because of the dynamic nature of these ads, you want to be thinking about potential issues or miscommunications that may result from bad content on your website. This could include bad listing photos that may be blurry on Facebook, recently sold listings not taken off your site, and more.
In conclusion, these new ads are a great tool for any agent or broker looking for more touch points with their audience. Facebook will do most of the optimizing for you and if you have lots of listings in a popular market, this is a must! The main downside is the coding knowledge and the time required to prepare the catalog and signals. However, once this is done; the time saved in the future can be huge. Hope you see some great results!