Expert Tips For How to Use Facebook Ads to Generate Mortgage Leads
The world of marketing has changed dramatically over the past two decades in large part due to the growth and development of new technologies and new marketing platforms like Facebook and other social media networks. In the age of digital communication, there is a myriad of ways marketers can get their message in front of potential customers browsing the Internet for information or simply to pass time.
One effective and efficient way to market directly to your target audience is through using Facebook Ads.
Facebook’s popularity and influence have grown exponentially since its inception in February 2004. According to statista.com Facebook had 2.7 billion active monthly users in the second quarter of 2020, and the numbers are expected to increase as Facebook expands its social networks into the realm of e-gaming with live-streamed competitions and more between friends.
Businesses of all shapes and sizes but especially those in financial services such as Mortgage Brokers and Lenders that choose to embrace technological advancements and platforms like Facebook and Facebook ads have the opportunity to acquire customers with efficiency and in massive numbers, due to the sheer number of Facebook users, those ads will be visible to.
How Facebook Ads Works
Facebook Ads are a pay-per-click (PPC) advertising platform where, as with Google Ads, you can choose to only pay if and when someone clicks on your ad. This is known as CPC (cost per click) bidding.
You also have the option of paying for your Facebook advertising on a CPM (cost per mile) basis wherein you pay for every 1,000 impressions (appearances) of your ad irrespective of the number of clicks they get.
Facebook Ads work on an auction basis whereby the amount you bid per click or per 1,000 impressions will affect how often your ads are shown.
Advertisers on Facebook can generate the ads themselves through the Facebook self-service interface or can hire the services of a Facebook Ads manager.
There are different types of ads available on the Facebook Ads platform and these enable advertisers to choose whether they want to promote their Facebook page, individual posts on their Facebook page, or their own websites.
Ads can be made up of images, text, and video and they can appear in people’s newsfeeds or, on desktops, as ads in the sidebar.
Alongside ads appearing on the main Facebook site, ads can also be set to appear on Instagram – a Facebook-owned platform, and within Facebook Messenger.
Pinpoint Your Target Audience
Facebook Ads are so effective because they allow you to target people based on a variety of factors such as location, age, relationship status, occupation, hobbies, interests, companies they follow, income level, parental status, and more.
This precise level of targeting is made possible because Facebook collects a tremendous amount of data about its users from the information they disclose in their profiles and from analytics on user behavior.
The precise advertising Facebook ads offer is particularly useful for mortgage brokers and lenders because it potentially allows you to target customers in the optimal demographic for interest in purchasing, thereby increasing overall chances for conversion.
For instance, if you as a mortgage broker or lender wanted to target women in their late 20s and 30s, who lives in Dallas, Texas, have a degree, and are currently in a long-distance relationship, Facebook Ads allows you to do that.
While the level of precision targeting Facebook offers is good, mortgage brokers will need to constantly adapt their approach, tailoring it specifically for different types of potential buyers. For example, a more experienced homebuyer may already have a great idea of what they want and therefore need very little help or guidance. On the flip side, a new home buyer may need more guidance from a broker so advertising for these clients may need to be more in-depth.
Social media in general and Facebook ads specifically are great tools of marketing,
advertising, and exposure when used properly.
North Texas-based company, Agency Partner can help you activate these tools and put them to use in the most effective and efficient ways for your business.
Retargeting and Facebook Ads
Consistent and persistent marketing on sites like Facebook is absolutely necessary for today’s technological age because not everyone who visits your site the first time will submit an inquiry.
With the use of Facebook Ads retargeting tool Agency Partner can help you stay in front of people who fail to convert on their first visit to your site – even if their first visit to your website was not as a result of clicking on a Facebook ad.
Multiple Communication Methods
Facebook is like Voltron, it has so many individual pieces and moving parts that can be manipulated to precisely the right angle. But it’s when all of those parts come together that it’s most effective.
Don’t be afraid to use multiple communication channels. Not everyone likes filling in online forms and not everyone enjoys talking on the phone. Some people like texting and some don’t.
People communicate in a variety of ways these days, so you’ll increase the chances of your Facebook Ads being successful if you offer a variety of ways for people to engage with you once they’ve clicked through from Facebook to your website.
Do Facebook Ads Really Work?
Facebook Ads offers a great way of generating mortgage leads for your business. Combined with the expert knowledge of Agency Partner, you can use Facebook Ads to potentially identify your exact target audience by a variety of metrics, tailor marketing campaigns specifically to all or a piece of that audience, and put in front of the marketing materials that will speak directly to what that buyer wants – contacting them in a variety of ways: social media, text, email, and more.
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