Today, Lex Levinrad shares how to optimize Facebook marketing with a custom audience. By setting up a target audience, you’re able to spend your marketing dollars more efficiently.
Lex also lets us in on how to set up tracking to run ads on Facebook to those who have visited your site.
Announcer: Welcome back to the flipnerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Lex: Hi everyone, Lex Levinrad, I’m the founder of the Distressed Real Estate Institute, and on today’s REI Classroom show, we’re going to be talking about social marketing. And I’ve got to tell you, social marketing is something that’s really getting a lot of buzz now, and for good reason because it’s really changing, it’s really revolutionizing. So, this is a huge area, very deep topics to cover but what I want to do is just cover one tiny little snippet and that is Facebook marketing.
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Lex: Facebook marketing is huge for wholesale and specifically or for anyone that’s looking to market a property. Whether you’re looking for tenants if you’re a landlord, if you’re looking for properties that you’re going to fix and flip and sell to someone, if you’re looking to acquire properties, or if you’re looking for cash buyers for your wholesale deals. And what makes Facebook marketing so valuable is the fact that, you can build in custom audiences, okay? So I encourage you to write down that word – custom audiences – and spend some time, go to the Facebook Ad Manager, figure out how it works such as so far as an advertiser.
I’ll give you a little brief, two-minute tutorial on how it runs down. But essentially, let’s say you’ve got a house on the contract or you have a house you’d like to sell. You are able with Facebook to actually target people that live in the area around that specific house, okay? Very, very easily. You’re even able to target them based on other demographics, for example if they are interested in buying a house, if they’re interested in moving. There’s a lot of demographic fields that they have in there that they import from other sites like Zillow and Trulia that you can utilize and tap into.
But where it gets really powerful is where you can put a snippet of code on your own website. So let’s say you have a website where you market properties, let’s call it your blog, all right? And let’s say in Texas, at jacksdealsintexas.com, right? On that site, you can have a little bit of a snippet that saves the information that they visited your site. You can then upload that to Facebook and then Facebook can run an ad only to that person. So you can basically tell Facebook run ads only to people in this area and only to people who visited my site.
So, without them knowing, you’re basically retargeting to them and then you can do that effectively with each house you get. So, if you get another house next week, you can do it again and again and again. And I’ve got to tell you out of all the marketing methods we’ve been employed, it’s probably one of the most powerful that we’ve had because a guy might call you up on one deal let’s say off a bandit sign or a Craigslist ad, and you get his contact info and then out of curiosity he visits your site. But unbeknownst to him that code is now tracking him.
Now, when he goes back on Facebook – and you can employ this also on Google too but I’m specifically talking about Facebook – that code is now following him. And when he goes and logs into his Facebook, you can have a little banner or a little ad on the right hand side which says, “New Deal in Harris County, Texas” and he’s able to click on that and – boom – he’s back on your site. And if you keep doing that and he really is a cash buyer, he’s going to probably at some point in time pick up the phone and call you and potentially buy a house.
If you look at the profit potential you could make on flipping a house for let’s say $5,000, $10,000, $15,000, and you look at the cost of that ad, you’ll see that it’s miniscule in comparison to your potential profit. So, that’s a real good way to use social media tapping into Facebook to work with cash buyers. I did another segment also on an REI Classroom, where we spoke about building a buyers’ list and you can incorporate these two together, all right?
So just to summarize for you, you want to have a site where you post your deals, all right? Whether you’re renting a house, selling a house or you’re a wholesaler looking to flip a house, you’ve got to post that somewhere, not just on Craigslist. This has got to be on your site that you own, and I recommend you use a WordPress blog for that.
Then you have to syndicate that somewhere else and I recommend that you get some kind of tracking code with Facebook marketing where you can build up a custom audience of who comes to your site. And then that custom audience can be very, very impactful because over time, let’s say 10 people visit your site everyday, after a year you’re going to have 3,650 people that are in your buyers’ list and you’re able to market to them not only via e-mail marketing, which is what traditionally people do, but also through nontraditional forms like Facebook marketing where you can have an ad popping up. And unbeknownst to them, when they click on that ad, they’re coming right back to your website, all right?
So once again to summarize, this is Lex Levinrad, we’re talking today about social media marketing. If you’d like to learn more about me, you can check my website out at www.lexlevinrad.com, and until the next show, I’ll see you on the other side.
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