Wouldn’t it be wonderful if we could find one magic real estate marketing technique that would consistently hit the mark and bring in new clients?
This is the holy grail for all real estate professionals (or business owners the world over): a perfect marketing system with guaranteed results. Business owners will always want to prioritise lead generation campaigns, but neglecting branding can be a short-sighted strategy.
Many businesses, especially startups or those facing financial pressure, prioritise immediate results. Lead generation campaigns can deliver a quicker influx of potential customers, which can translate to sales relatively soon. On the other hand, branding can be seen as a vague, long-term concept. Some real estate business owners might misunderstand branding or underestimate its impact. Effective branding builds trust, loyalty, and recognition, but these benefits can take time to develop.
The importance of branding building ahead of lead generation tactics
Lead generation campaigns will always be more effective when you have a strong brand presence already established. Here’s why:
- Brand recognition: A strong brand is like a familiar face in a crowd. When someone encounters your lead generation campaign (an ad, a website popup, etc.), they’re more likely to engage if they already recognise and trust your brand.
- Reduced risk perception: People are generally wary of giving out their information. A strong brand presence signals legitimacy and builds trust, making people more comfortable sharing their contact details.
- Clearer value proposition: A well-established brand communicates its value proposition effectively. People understand what you do and why they should care, making them more receptive to your lead generation offer (e.g., a free consultation or a downloadable guide).
Imagine it this way: Cold-calling someone to sell them something is a lead-generation tactic. But if you call someone who’s already heard of your company and has a positive impression, you’re much more likely to get a good response.
That doesn’t mean you can’t run lead generation campaigns without a strong brand presence yet. It just means you might need to work a little harder. You will have to focus on building trust and brand awareness within your lead generation efforts, for example, by offering valuable content or building relationships with potential customers.
Understand who’s ‘in’ and ‘out’ of the market
The other thing to remember is that at any given time, only approximately 3% to 5% of property owners with homes in your neighbourhood will be looking to transact. Your lead campaign will only be relevant to a small percentage of people because everyone else is fine (busy living their lives) and not in need of your real estate services right now.
Even though 95% to 97% of property owners in your area do not need your services, that doesn’t mean that you should ignore them. Don’t exclude them from your brand marketing efforts. In fact, this is where brand marketing will be of great value to you over the long run, keeping this contingent of owners luke warm and your business name easily recognisable.
Keep a keen eye on your lead-generation campaigns
There are several reasons why digital advertising requires ongoing monitoring and adjustment:
1 – Dynamic landscape:
The digital advertising space is constantly evolving. Here are some contributing factors:
Platform updates: Social media platforms, search engines, and other advertising platforms frequently update their algorithms and features. These changes can affect how your ads are displayed, who sees them, and how effective they are.
User behaviour: User behaviour and online trends are constantly shifting. What captured attention yesterday will be ‘old news’ and ineffective today. What resonates with your target audience can evolve over time.
Competitor activity: Your competitors are constantly refining their own campaigns. Staying stagnant means you risk falling behind in the race for attention and conversions.
2 – Data-driven optimisation:
Digital advertising offers a wealth of data and insights. By continually monitoring this data, you can see what’s working and what’s not. This allows you to:
Optimise ad performance: You can identify aspects of your campaign that are underperforming, like specific ad copy or targeting parameters. Adjustments can then be made to improve click-through rates, conversion rates, or other key metrics.
Refine targeting: As you gain insights into your audience’s behaviour, you can refine your targeting to reach the people most likely to be interested in your product or service.
3 – Maintaining campaign performance:
Digital advertising is an auction-based system in many cases. Factors like competition and audience demand can affect the cost of reaching your target audience. Ongoing adjustments can help you:
Maintain efficiency: Monitor cost-per-click (CPC) and other metrics to ensure you’re getting the most out of your advertising budget.
Stay competitive: Regular adjustments can help you stay ahead of the curve and ensure your ads are reaching your target audience at a competitive price.
In short, the dynamic nature of the digital landscape, the ability to optimise based on data, and the need to maintain efficiency all necessitate ongoing adjustments in your digital advertising lead generation campaigns.
Measure your return on ad spend (ROAS)
There’s a key metric in marketing, especially online advertising, that measures how much revenue you generate for every dollar you spend on advertising. It’s called ROAS, which stands for Return On Ad Spend.
Here’s the gist of ROAS:
- Tracks advertising effectiveness: By calculating ROAS, you can see if your ads are actually leading to sales and how much revenue each ad campaign brings in.
- Helps optimise campaigns: Knowing your ROAS allows you to identify which ad campaigns are performing well and which campaigns need improvement. You can then adjust your strategy to maximise your return on investment.
- Expressed as a ratio: ROAS is typically expressed as a ratio. For instance, a 4:1 ROAS means that for every $1 you spend on ads, you generate $4 in revenue. The higher the ROAS, the more profitable your advertising efforts are.
Here’s a simple formula to calculate ROAS:
ROAS = Total Conversion Value / Ad Spend
Total Conversion Value: This is the total revenue generated from people who converted through your ads (e.g., made a purchase, booked a call, downloaded a report or signed up for your newsletter).
Ad Spend: This is the total amount you spent on your advertising campaign.
So, the next time you run an ad campaign, be sure to track your ROAS to see if it’s generating a positive return on your investment.
Lead generation doesn’t happen overnight
It’s important to keep in mind that lead generation is a marathon, not a sprint. Here’s why it takes time:
1- Building trust: People are hesitant to share their contact information with companies they don’t know or trust. Effective lead generation involves building trust and establishing yourself as a credible source. This takes consistent effort through valuable content, positive brand experiences, and building relationships with potential customers.
2 – Nurturing leads: Not everyone who shows initial interest is ready to buy right away. Lead generation often involves nurturing leads through a sales funnel. This means providing them with relevant information, addressing their pain points, and gradually moving them closer to a buying decision.
3 – Understanding your audience: Successful lead generation requires a deep understanding of your target audience. This includes their needs, challenges, and preferred communication channels. It takes time to gather this kind of data and refine your lead generation strategy to resonate with your ideal customers.
4 – Finding the right channels: There are many different channels for lead generation, such as content marketing, social media advertising, or email marketing. Figuring out which channels work best for your target audience involves experimentation and analysis.
Here’s an analogy: Think of lead generation like planting a seed. You wouldn’t expect a flower to bloom overnight. You need to water it, give it sunlight, and be patient. Lead generation is similar – it requires consistent effort and nurturing to see results.
The good news is that with a well-defined strategy, the right tactics, and a little patience, you can build a strong lead generation funnel that consistently brings in qualified leads for your real estate business.
How good are you at collecting contact data?
Contact data and online audiences are the cornerstones of successful digital advertising for a few key reasons:
1 – Targeting and relevance:
Precision marketing: Contact data allows you to target your ads with incredible precision. You can upload email lists, phone numbers, or even website visitor data to reach people who have already shown some interest in your real estate brand or specific services. This ensures your ads are seen by the most relevant audience, increasing the chances of engagement and conversion.
Building lookalike audiences: Many platforms let you create “lookalike audiences” based on your existing customer data. This lets you reach new people who share similar characteristics with your best customers, expanding your reach to a high-potential audience. In general, based on the length of time between transactions, I do not find these to be that effective in real estate. Lookalike audiences are more relevant for consumer goods and e-commerce stores.
2 – Personalisation and measurement:
Tailored messaging: Contact data also helps you to personalise your ad copy and landing pages. Imagine an ad that greets a potential customer by name and highlights the type of real estate services they’ve previously viewed, e.g. “Looking for more home selling tips?”. This level of personalisation significantly improves ad effectiveness.
Attribution and measurement: Contact data helps track campaign performance and measure ROI (Return On Investment). By knowing which leads came from which ad campaigns, you can see what’s working and optimise your strategy for better results.
3 – Building relationships:
Retargeting and remarketing: Contact data allows for retargeting campaigns. These ads reach people who have already interacted with your brand in some way, keeping your business top-of-mind and nudging them closer to conversion.
Building customer loyalty: Contact data lets you nurture leads with email marketing campaigns, loyalty programs, or personalised offers. This fosters stronger customer relationships and increases each customer’s lifetime value.
In short, contact data and online audiences are like a roadmap for your digital advertising. They help you target the right people, personalise your message, and measure your success. With this valuable information, you can create highly effective ad campaigns that resonate with your target audience and drive real results for your business.
The importance of stand-alone landing pages
Landing pages (web pages) are crucial for lead generation and will be more effective than sending people who click on your ads to your website homepage. Here’s why:
1 – Increased engagement and conversions:
Relevance and resonance: When visitors land on a page tailored to their interests and needs, they’re more likely to feel engaged and find the information valuable. This personalisation can significantly increase the chances of them converting, whether it’s signing up for a newsletter, downloading an ebook, or requesting an appraisal.
Focused value proposition: Personalised landing pages allow you to highlight the specific benefits that matter most to each prospect. This laser focus on their needs makes your offer more attractive and compelling, leading to higher conversion rates.
2 – Improved user experience:
Frictionless journey: A personalised landing page removes unnecessary hurdles for the visitor. Pre-populated forms with relevant information, for example, can streamline the conversion process and encourage visitors to complete the desired action.
Demonstration of understanding: Personalisation shows visitors you understand their needs and interests. This creates a more positive user experience and fosters trust, making them more receptive to your message.
3 – Better targeting and segmentation:
Dynamic content: Landing pages can dynamically adjust content based on visitor data like location, demographics, or previous website interactions. This ensures each visitor sees the most relevant information and offers, maximising the impact of your campaign.
Campaign Alignment: Personalised landing pages can be tailored to match specific marketing campaigns or ad copy. This consistency creates a seamless user experience and reinforces the message throughout the customer journey.
4 – Increased lead quality:
Targeted acquisition: Personalisation attracts leads who are genuinely interested in what you offer. This means you’re generating higher-quality leads that are more likely to convert into paying customers down the line.
Deeper audience insights: By tracking visitor behaviour on personalised landing pages, you gain valuable insights into your audience’s preferences and pain points. This allows you to refine your marketing strategy for even more effective lead generation.
Overall, personalised landing pages are a powerful tool for boosting lead generation. They create a more relevant and engaging experience for visitors, leading to higher conversion rates, better-quality leads, and, ultimately, a stronger sales pipeline for your real estate business.
Research and gather the questions prospects ask
Search terms are the words and phrases that your prospects type into a Google search when they are researching a topic or looking for a real estate agency that provides the services they require. Search terms are critical for online advertising success in several ways:
Uncover new opportunities: Search term reports provide valuable insights into the actual terms people are using to find your products or competitors. You can discover new keyword opportunities you might not have considered before, helping you refine your targeting strategy and potentially reach a wider relevant audience.
Craft compelling ad copy: Understanding the search terms your target audience uses allows you to craft ad copy that resonates with their specific needs and search intent. You can incorporate relevant keywords while keeping your ad clear and concise, grabbing attention and encouraging clicks.
Reach the right audience: Search terms are the bridge between what people are looking for and your ads. By carefully selecting and targeting relevant search terms, you ensure your ads are shown to users actively searching for products or services similar to what you offer. This increases the chances of relevant clicks and conversions.
Relevance and quality score: Ad platforms like Google Ads consider the relevance between your ad, its landing page, and the search terms that trigger it. This is known as your Quality Score. A high Quality Score can lead to lower costs per click and better ad placement, maximising your advertising budget. Meta has an equivalent metric, but they call theirs a Relevancy Score.
Measure performance and optimise: Search term data helps you track the performance of your campaigns across different keywords. You can see which terms are generating clicks, conversions, and, ultimately, sales. This allows you to optimise your campaigns by focusing on high-performing terms and potentially pausing or refining those with lower conversion rates.
In essence, search terms act like a roadmap for your online advertising strategy. By understanding the specific terms your target audience uses, you can ensure your ads are seen by the right people, deliver a relevant message, and ultimately achieve your advertising goals.
The ideal marketing approach is a balanced one
Lead generation campaigns are like fishing and attracting potential customers. But branding is like building a healthy ecosystem for the fish, ensuring a sustainable supply and attracting bigger catches over time.
The ideal approach to growing your business through a steady flow of leads is as follows:
1 – Build your brand to nurture trust, loyalty, and recognition. This will amplify the effectiveness of your lead generation efforts and create a sustainable path to success.
2 – Run lead generation campaigns to bring in potential customers.
A strong brand differentiates you from competitors. In a crowded marketplace, a distinct brand identity can make you the clear choice for customers. Branding fosters customer loyalty, encouraging repeat business and positive word-of-mouth. This translates to a higher customer lifetime value, meaning each customer brings in more revenue over time.
A well-established brand attracts leads more effectively. People are more likely to engage with a company they recognise and trust. Branding builds a positive reputation that precedes your lead-generation efforts. So, when you do ask prospective customers to give you a go, they’ll be more inclined to do so.
Ready to reel in more prospective real estate clients?
If you are ready to take a professional and proactive approach to building a strong long-term marketing funnel – encompassing branding and lead generation marketing activities – then Hoole can help. You can talk with me, Melanie Hoole, about your business and present situation, and I can advise you on the best next steps for you. Book your free, one-hour complimentary session.
Written by Melanie Hoole
My team and I specialise in helping real estate and property professionals perfect their personal brand, build a first-class digital profile and implement inbound marketing activities to attract leads. If you are unsure which direction to take with your digital marketing contact me for help.
