REALTORS: You can use promoted posts to showcase your listings!
But don’t!
Greg Vincent asked the seemingly obvious questions as to whether agents should use Facebook Ads to send consumers to their post about a listing or a page on their website featuring the listing.
The answer is neither.
I’ve been buying Facebook Ads on-and-off for quite a while and have seen no evidence to suggest buying ads on Facebook makes any sense at all. Facebook is super-quick to take down non-performing ads (i.e. ads that people aren’t clicking on), and I just can’t image that the typical listing has any lasting value for consumers. If, and only if, Facebook someday figures out who is likely to move to a geographic area AND lets you target those people, I might change my mind.
Looking from a larger perspective, at just about every presentation I’ve been giving over the past few months, I’ve been harping about how Facebook makes so much more sense as a sphere building tool than as a tool to reach your next client.
If you’re curious why I make the distinction between reaching consumers directly and building your sphere, check out the Agent Business Cycle diagram. Based on countless interviews with agents (as well as my own surveys), I feel comfortable saying that the majority of agent business is generated from sphere building activities (whether they be reaching into an agent’s community or connecting with past clients)… and Facebook is the ultimate sphere building tool.
Used “right,” there has never been a social network that will help you to reach new and relevant people (i.e. friends of friends/fans/followers) so easily, but when used “wrong,” Facebook will quickly take just about all your influence within your network.
So what do “right” interactions look like on Facebook? If you’re brand new to the idea, I recommend checking out Networking Engine Optimization, but in summary, you want to be creating content (and promoting content) that will get people to interact with your business page. More than any other factor, it seems pretty clear that Facebook determines the relevance of something by looking at the interactions of their friends (whether it be comments, likes, new fans, wall posts, etc.).
Create a page with no interactions and expect to have a relative “black hole” in Facebook in the same way that a website without any inbound links is essentially a black hole to Google.
Facebook
4 Comments
I just haven’t seen enough from FB to make me want to spend some of my marketing budget on their ads. For the time being, I will stick with traditional PPC or spend it on SEO for organic, but will keep my eye on SM platforms as NEO develops. Thanks for the post.
FB Ads are similar to other ad buys in that it’s easier to waste money than get value, but I’ve been having some fun playing with different campaigns and seeing what FB likes and doesn’t like. Probably the most interesting observation I have is that the are super-quick to throttle non-performing ads…
I know that many people are turning to facebook as a means od advertising since the almighty G put their prices through the roof. I can see the same happening with FB soon also.
[...] the negative, we have 4realz.net, which argues that Facebook is too quick to take down non-performing ads and says the ads would [...]