Facebook ads are an incredibly valuable way of boosting engagement with your mortgage business. No matter the size of your company, Facebook ads are a great addition to your marketing strategy—as long as you’re using them right.
In this blog post, we’ll take a look at how you can boost engagement with your mortgage business using Facebook marketing.
First of all, why use Facebook ads? The simple answer is this: lots of people are on Facebook, and lots of people use Facebook. Facebook’s own data says that two billion people use the site every month, and research suggests that, on average, people spend two hours on social media every day.
Not only is there a ripe audience for you to tap into with Facebook ads, but you also have the added benefit of those ads being targeted. Facebook users freely provide some significantly useful data that can help you to pinpoint exactly the right audience for your ads. This data can allow for your targeting to be incredibly precise—think specific things like homeowners over the age of 50 in a certain location—so that you increase your chances of return on your ad investment.
The additional benefit to Facebook ads is that they’re inexpensive. That investment you’re making doesn’t have to use up all your marketing budget; from as little as $10 per day, you can reach the audience that’s likely to garner you the most remarkable results. In comparison, just one click on Google AdWords can cost as much as $60, if not more, for your mortgage keywords. Facebook is a fantastic way of making the most of your marketing budget without having to spend as much as other services might demand.
So, how do you go about using Facebook ads for your mortgage business?
The initial part of using Facebook ads is setting up an ad account and installing a pixel. Simply put, a pixel is a code that you embed in your website to track page views, conversions, and audiences. This produces insight data that allows you to understand how visitors are interacting with your webpage.
Once you’ve set up your pixel, you can head straight to your Facebook ad manager!
Develop your three key audiences
Once you’ve set up your pixel and headed to your Ad Manager, it’s time for you to consider the audiences you’re hoping to develop. Within the Facebook Ad Manager, you’ll see a menu option called Audiences.
There are three audiences that you should focus on at this point.
Audience by Demographic
This is where you choose a target audience with pre-existing brand recognition or a relationship with your business. Instead, this audience is built on characteristics: age, sex, location, homeownership, income, and more! In Facebook Ad Manager, this should be a Saved Audience, with detailed targeting based on financial demographics, locations, age, and behavior. At first, it’s worth experimenting with your demographic targets to see what’s most effective.
Audience by Website Visitors
This is where your audience is a group of people with whom you’ve not built a business relationship but who have visited your website. This is where the pixel that you installed in step 1 comes into its own. In Facebook Ad Manager, this will be a Custom Audience, and you can choose to narrow it down based on website visitors or URL information.
Audience by List
The final type of audience is based on a list built from the information you already hold, whether your email list or previous clients. In Facebook Ad Manager, this is a Custom Audience type, and then you can narrow down your criteria. It may be that you use a full master list of everyone in your database; alternatively, it could be subscribers, homeowners, renters, or more.
Develop your three types of campaigns (and A/B test!)
Having developed your audiences, it’s then so essential to create your campaigns. There are three of these again: awareness, subscription, and conversion. It’s key to your ads’ success that you determine what kind of campaign you’re running. For instance, are you building brand awareness, or do you want to convert clicks into sales? Defining your goal will help you find the right audience for your campaign.
Don’t forget—the best way to build data on which of your campaigns is successful is to A/B test! You can also gather data from your campaigns to see how effective your ads have been alongside this testing.
Develop your landing page
Finally, it’s always essential to develop the landing page on your website that Facebook ads will take your potential customer to. Make sure that the language on your landing page is compatible with the language used in your ads so that you can make the most of your potential audience!