We understand that the common issue UK-based estate agencies are facing at the moment is gaining stock! Whether these are rentals or ‘for sale’ properties, with house prices and the cost of living continuing to climb, fewer people are willing to sell their current property. Although this is where we can help…
At Property Webmasters, one pivotal thing we have learnt after running hundreds of campaigns across Meta platforms is that being consistent and reactive is key to the success of your campaigns; no matter your goal or budget.
Meta ads tend to get a bad rep when it comes to generating valuation leads, although, with the right tactics, Facebook and Instagram ads can be the most cost-effective way to generate new valuation leads for your agency, as well as giving you the added bonus of great brand awareness!
When we were approached by an agency in Greater Manchester, with the goal of increasing the number of valuation appointments they were receiving, we knew there was a few different routes we could take.
Firstly, with an admittedly small starting budget of around £10 daily and an already strong brand awareness in their local area, we decided that Meta ads would be the best way to kick start their campaigns.
When speaking with the client, the goal that was most valuable to them was to increase the number of instant valuation leads they were receiving. We then advised the client in terms of best practices on campaign destination and the overall appearance which lead them to choose an instant valuation tool.
With 77% of Internet users being active on at least one Meta platform (Facebook, Instagram, WhatsApp or Messenger), Meta campaigns are an undisputably effective way to reach your target audience, whether this is people looking to sell their property or people looking to purchase one!
In 2021, Meta made some serious changes to the way businesses within the Real Estate industry can target their audience, although around 1 year on from this we have overcome the changes and discovered new ways to target your chosen audience.
Before launching the campaigns we both understood that it can take time for the campaigns to reach their top performance and that we would need to keep an eye on the targeting to ensure that we are utilising the budget as cost-effectively as possible.
Through creating engaging relevant creatives and ad copy, we managed to generate a total of 27 leads in the first month, this was at a cost per lead of around £16 and out of these 27 leads, 10 resulted in valuation appointments at a cost per valuation appointment of around £44, which we were both extremely happy with. This not only shows that our campaigns were set up to generate leads but the quality of the leads generated was there also, with a 37% conversion rate of leads to appointments.
Over the last few months, we have seen consistent results generated through this campaign which has transformed the way that our client’s agency works and generates valuation leads. We have also kept a very close eye on these campaigns in the last few months to ensure the results that are generated are of high quality and convert into appointments.
This has led to the client being able to get a new AgentPlus website with ourselves as well as receiving a great ROI from just £1,300 ad spend in 4 months of marketing.
When it comes to generating valuation leads for your agency, a campaign type that works well for one agency may not work for yours, although there are a few fundamental tactics that we have found to be uncompromisable when it comes to setting up your campaigns!
1. Don’t Act Desperate!
After spending thousands across UK Estate Agencies ad accounts, we have seen proof that campaigns set up to add value to your audience perform better than those directing users to plain drawn-out, uninspiring valuation forms.
With a valuation campaign, the intent is simple, you want to nurture your audience and make sure that when they are ready to sell their property your agency is at the forefront of their mind!
Adding value can be as simple as sending your audience to an instant multi-step valuation form, giving them an instant sense of purpose to enquire.
This also implies to your ad copy, we have seen that ads that aren’t directly focused on generating valuation leads perform a lot more effectively for certain agencies. Such as displaying your agency’s properties, and services or utilising local market updates.
2. Test & Try
As mentioned above it’s not a one-size-fits-all when it comes to your campaign set-up, every agency will have there own messaging and target audience.
Although, A/B testing is a vital step when wanting your campaigns to succeed, from things as simple as the CTA on your ads, to short and long-form ad copy, testing what works best with your audience can help you understand who you are targeting and save you both time and money in the long term!
3. Be Clever With Your Targeting
Whether you are an international agency or a small local start-up, making sure that you understand your audience and exactly who they are is vital! In 2021 Meta made some serious changes when it came to property campaigns and made it harder than ever for the Real Estate industry to reach its target audience.
From setting up a lookalike audience of past vendors or valuations to an interest-based audience focusing on specific areas and interests. There are still a whole host of high-quality targeting options available on Facebook although optimization and consistency are key…
4. Be Creative
Although who you are targeting is a huge section of what makes a campaign successful, how you engage them is equally important.
Ensuring you use high-quality imagery optimised for each ad placement can have a huge impact on the effectiveness of your campaigns, especially when prospecting cold audiences. From carousels and static images to videos, the most effective strategy you can carry out is an A/B test, this allows you to see exactly what works best for your target audience as well as what the Facebook algorithm considers to work best!
What you include within the ad copy is just as important as the image itself, after carrying out multiple A/B tests with clients across the UK, we have found that using a short less forceful ad copy is a lot more effective than using long drawn-out paragraphs. Not only will this engage your audience a lot quicker but also leave them wondering more. Emojis, in moderation, are also a great feature to add to your ad copy adding more personality to your text.
Lastly, do your research! If you are stuck on an idea Facebook Ads library is a great way to see what your competitors are doing. Research doesn’t always have to be external, take a look at your social channels and see what type of content is working best for your agency, after all, no two agencies are the same and what works best for your competitors may flop for you!
After reading our article, can you relate to the struggle of generating quality valuation leads? Through a mixture of constant research and 30 years of experience within the property industry, our team will come up with a strategy that works for your agency and targets your audience.
Want to hear more about how we can help you generate valuation leads for less? Get in touch with us today and we will be happy to talk you through our approach.
By Ben Spowart
By Ben Spowart
By James Sheldon