In this webinar MyOutDesk’s CEO, Daniel Ramsey has a conversation with Travis Thom of Elevated Marketing; Facebook Marketing Strategist, Coach, and Consultant, extraordinaire. They discuss Consumer Behavior targeted Listings
[00:05] (Daniel) Alright, hey everybody, Daniel Ramsey, you know me because we’re friends on Facebook. I’m the CEO of MyOutDesk.
[00:13] (Daniel) I’m super excited because I talked Travis into hanging out with me today live on Facebook with you guys. We’re doing a kind of cool talk, basically talking around consumers and consumer behavior and Facebook. One of the biggest challenges that we have as an industry as real estate folks is owning our own leads, like not paying Zillow, Realtor.com and all these folks an ungodly amount of money in order to generate us some business.
[00:42] (Daniel)Travis is the expert at that. He owns a company called Elevated REM. We’ve been buds a long time and his wife is wonderful too, so I love bringing him on
[01:00] (Daniel) What’s cool is that MyOutDesk has 1200 Virtual Professionals helping real estate companies grow and we’ve been in business 10 years. We’ve helped 5000 clients over those 10 years, and so I’ve got the opportunity to look into thousands of business real estate practices.
[01:20] (Daniel) One thing that is always a challenge is generating listings. So if you’re going to stay, today we’re going to break down the right way to use Facebook to generate leads and listings with Travis, and we’re giving away a bunch of free stuff too. We’ve got “how to ask for five star reviews;” It’s an email format that’s really killer. We’re giving away something called the re-purpose marketing system.
[01:49] (Daniel) His (Travis) Virtual Professional is in his business helping his clients and re-purposing all of their content. So we’re going to hear from him about how to use that, and he’s given away a bunch of cool slides with detailed, process-based “THIS IS HOW YOU WIN.” So, Travis. Thanks for being here, man. Appreciate you.
[02:08] (Travis) Daniel, Thank you. I really appreciate it. Thanks for having me. Excited to kind of share some information, and I want to de-mystify some of the Facebook myths or certain questions people might have, and as you said, I’m a Facebook marketing strategist for the real estate industry.
[02:27] I run a Facebook advertising agency, and then we have a Facebook coaching and training program. We’ve seen probably thousands of thousands of different types of ad accounts, and generated over 175,000 leads from Facebook, Instagram and messenger over the past couple years, pretty much across the world. We run campaigns in London, Australia, Canada, Mexico, throughout the US. So we get to see what works and what doesn’t work, what headline is the best engagement, what type of targeting is going to produce the best results, so we have a unique privilege and position to be able to actually gather that data, and then share it with a lot of our clients and people that are inside the real estate space.
[03:27] (Travis) My goal for the past 10 years– I started in real estate when I was about 18, I had my own brokerage. I had no clue what I was doing when I first started in my early 20s. I got some speed and got some leverage and we grew to about three different real estate companies. But (we) sold some of those companies, but what we fell in love with at the end of the day was the marketing piece of it.
[03:54] (Travis) I always want to be able to share and give back what we’ve learned, and the success we achieved from doing the same kind of marketing tactics and strategies. So hopefully today, we could give a little bit more insight on to what that what that looks like.
[04:11] (Travis) Actually, earlier this year, my wife and I were driving our daughter to school. It was early morning, the sun’s coming up. We’re just driving through our little neighborhood and my wife says, “You know, I’m going to check Facebook.” She was kind of scrolling through as I’m driving and she sees this post from a local theater company that brings these big Broadway shows, and she saw that they had posted over a little over an hour ago, STOMP, If you remember, STOMP, the Broadway musical. It said they’re going to give away five tickets to STOMP to the first five callers that call in.
She said, “Do you think it’s still around? It was posted over an hour ago.” I said, “Yeah, let’s give it a shot. Why not?”
So she called up and they said “Congratulations! You’re the first caller, and you won these tickets.”
[05:01] Now, that’s a little bit shocking in my world. But, I knew exactly what was going on as a Facebook marketing strategist, because what happened was that’s a suppression of what’s called organic reach. So it wasn’t an ad. This is something that they, the theater company, just posted. Typically, if you did that about a year or two years ago and said, hey, five free tickets to some Broadway show, it would be gone pretty pretty quickly, right? Maybe 15, 20 minutes. Well, organic reach is where you post something on your business page and it’s not an ad, It’s just a post, and Facebook will basically serve it out to people that like your like your page right? Your fans or followers.
[05:49] Well in January of 2018 Facebook decided to change the algorithm and free up more space inside the Facebook news feed for a couple reasons: One; for more meaningful engagement with friends and family and two; to remove some of the organic posts to really get more advertisers, to free up more ad space.
[06:17] They wanted more money basically, is what you’re saying. They wanted to be able to make more money.
[06:22] Yeah, they wanted more money. There’s a fight for more ad space. There’s over a 1,500 different stories that post that are trying to compete to be inside of your Facebook news feed on a daily basis, and only about 300 of them actually make it, and out of those 300 there’s going to be several of them that are going to be Facebook ads.
So knowing this, and the suppression of organic reach, there’s only a few options that you really kind of have, which is going inside the Facebook ad manager platform that Facebook gives you and creating ads, or doing a lot of Facebook lives and being able to actually get in in front of people, kind of like right now.
[07:06] (Daniel) We’re doing that right now. In fact, if you’re watching and you have questions, I wanted to make sure. This is for anybody in the real estate world, anybody who owns a business and anybody who is playing with the idea of generating leads inside Facebook. We’re monitoring the comments, so come say hello to Travis, say hi to me, and if you had a question, now’s the time.
[07:33] (Daniel) One one perspective, Travis… I don’t know if you agree or not, but these companies, they’re smarter than we are right? They know how to charge us a lot of money to get out there, and I think it’s really tough to understand. I mean it’s not easy to advertise with Facebook. They make it hard and and and you’ve kind of figured that out. Tell us a little bit about that.
[07:59] (Travis) Yeah. Facebook’s data is really what is so powerful in terms of marketing. They aggregate an enormous amount of data based on our keywords or browsing habits, our emails, certain things that we’re doing inside the Facebook app, what they call “The Big Blue,” (which is the Facebook app). They own basically the top four most popular apps in the world; WhatsApp, Instagram, Messenger and Facebook. These are all widely used with billions and billions of daily active users.
So with that type of data and the average person spending 47 minutes a day on each one of those different types of platforms, it provides Facebook with an enormous amount of data to really predict what we’re going to be doing in the near future, and one of them, for example, is traveling.
[00:08:56] (Travis) So Facebook can actually predict that I’m going to be traveling to Maui in the next six months. They can say, we see that you’re planning a trip. We’re going to start to serve you ads well ahead of time for different opportunities, the hotels to check out, airlines to check out, different places.
Well, the same behavioral actions online and offline or then attributed to real estate and the consumer’s journey. Have they email@example.com? Did they download the Zillow app? Have they looked at Redfin online? Did they go to Home Depot and start to get some project management ideas on how to spruce up their house to sell it soon?
[09:40] (Travis) All of those are inside the Facebook ad platform. They’re developed as actual targeting interests, based on their behaviors, their actions. From there, what we do is we leverage historical data. So we use reports from Zillow, reports from the National Association of Realtors, different types of reports out there and that’s what we call historical data. So as an agency, what we want to do is make sure that we are fishing upstream and that we’re kind of ahead of the game, so we can really draw circles around some of these portals, and get in front of people based on those behaviors and actions before they actually get into someone else’s funnel to some degree.
[10:28] (Daniel) Okay, hold on, hold on. If you’re listening. I’m going to try to dumb it down. Travis is brilliant, but we talked about life event, and then consumer behavior, and then a targeted ad that speaks to those two steps to convert leads. So that’s the formula right? Let’s let’s break that down. Like, what do you mean life events? How would a real estate agent know what life events…
[10:58] (Travis) So for breaking it down into a framework for instance, let’s take Zillow is data that they released within the past four months, which they really go through an enormous amount. I mean, they’re generating over 15 million leads a year. So they have some significant data to really work with. So the data that they basically publish was the top influential life events that influenced people to move. What was the main decision that made them buy a house or sell a house.
So the top one was getting married; the second one was getting separated or divorced; the third one was having a child or adopting a child; and then the last one was basically graduating from school. Those are the top, top tier ones.
[11:49] (Travis) So if we take getting married, for instance, which is a big life event… You just got married or you’re newly engaged, or you’re a newlywed, those are actually targeting interests inside of Facebook. So we can do what’s called detailed interest targeting. Say we’re going to target people in this specific zip code ages 20 To 51 that are newlyweds in the past six months that are either engaged, just got married, they’re looking for bridal dresses, they’re interested in wedding photography, The Knot, which is like a big website for registering those kinds of things.
You would layer those in, and those are all life events, life decisions people are entering into, and then we layer the actual consumer behaviors. Did they like download an app for Realtor.com or Zillow, or Redfin, or buying a house, house hunting. Those are different actual consumer behaviors that you layer in.
[12:57] (Travis) So you have life event, and then actual consumer behavior and you basically tie those together in detailed interest rate in the Facebook ad manager, that’s going to define your specific audience to the live stage. So we’re then going to show them an ad that is either about new listing or an open house, or list of homes that they can download. You’re basically making sure that you are serving the ad to the right people at the right time based on those live events.
Now if we think about this and kind of an anecdotal, way a Susan just got married. Married about three months ago and she is now online. She’s looked at a few homes offline, you know, on realtor.com and Zillow and she’s been kind of cruising through and getting ideas, looking at Pinterest for the next house she wants to buy. Susan is going to leave her house. Steven, or whoever else she’s marrying, they’re going to then combine homes and get into a new property. So we’re going to serve an ad to her offering a list of open houses within her zip code in a 12-mile radius, of maybe a specific home that you listed. Why’d I say 12-mile radius? Statistically, most home buyers move into their next home within a 12-mile radius of their previous home.
[14:26] (Travis) So that’s with the life event, consumer behavior in the targeting. So it’s almost serendipitous that Susan will now see this ad about an open house. She goes through the Facebook lead ads process where she enters her name, email and phone number. We get the prospect as a lead and then she’s sent to the list of open houses on your IDX page, and then the process starts of nurturing that lead, right? Sending them a text and email saying thank you so much for downloading the list. Saw that you were interested in our open houses coming up. Is there a particular price range that you were looking in, and by the way, is this a first time home purchase or do you need to sell your house? That’s where the process really starts.
So if you break that down by life stage… So divorce, having a child. Having a child is a big one. That’s really a big life event where people need to… Well, it’s a growing family. If we look at a psychographic profile of those prospects, they’re needing to probably sell their home move into a bigger home.
[15:36] (Travis) So you are going after buyers who are also sellers, because most sellers, before they list their house, they actually look at the market and go is there a school district that we want to be in? Is there the right price range? Is now the time to actually sell our house? They look to see the price comparison. Can we get the equity that we want based on the houses that we’re looking for?
So, keep those life events in mind. Now I know that we talked about the D’s.
[16:09] (Daniel) Yeah. Before we jump into that, real quick, so you’re definitely in MyOutDesk client. I’ve got a bunch of questions about Facebook, the average time to sell, we’ll talk about the D’s. I love the DS. Before we do that, what I love is you guys are a marketing firm and you bought some of your time back by using our folks. Talk a little bit about that real quick.
[16:34] (Travis) Certainly. We’ve been doing Facebook marketing and we have a coaching training program. We have several hundred clients. We have a software as a service company that we own, and for a long while it was just me and a couple other people. It just got to the point where it was like a fever pitch. Basically from 5am to midnight, I’m answering anything and everything I can; emails and posting stuff.
We were getting to a point where we’re managing three different companies with hundreds of clients, and we desperately needed some help, because I didn’t have a vacation for many years. I didn’t have really any time to myself. I couldn’t take my wife out on a date. I have to work all Saturday because we are launching this huge campaign, and someone has to write the ad copy and knock this out and build all of this.
[17:42] (Travis) So we got to a certain point where I said, “You know what? I need help.” I want to spend time with my kid. I want to be able to travel. I want us to really be able to actually own and operate our business and not be a slave to it.
So that’s when you know we we met. We talked in, you kind of enlighten me on… Hey, there’s people out there that can really help you. They’re very talented, and you are basically that that resource. So I started going through and really monitoring what are the actual tasks that are more kind of what I consider the $12 an hour $15 an hour tasks that are tying up all of my time that someone else can do, and then what are the $500 an hour tasks that I should focus on right now, that should really be executing.
[18:37] (Travis) I went back and said Dan, if I want to work only let’s say three days or four days a week, what are those those top priorities. If I’m only working 72 to maybe 100 hours a week, whatever it might be, What are the key things that I should… Sorry, not those. But in work hours, what should I really be focusing on? I sort of started mapping out what are the top ones that I should do, and what are the top ones that I can actually pass on to an assistant that is the professional. They’re actually versed in all these different tools and they can buy back my time.
So I had to buy back my time, invest in MyOutDesk, which at first I was a little… I’m not sure. Are they going to be able to handle some of my things, and I let my ego go right and said, “All right. Someone else can do these.” So now, I actually have a pretty incredible life. I don’t mean to brag, but I have time. I have time to be able to actually fly with my family and travel. I can meet with clients and not feel stressed out that I’d have to run back to the office meet someone else and knock all these things out. So it’s been really huge for us.
[19:58] (Travis) One of the biggest things that they do is repurpose a lot of my content. I have a lot of my own personal Facebook ads running to try and win more business, and I’ll do a webinar or I’ll do a blog post and my Virtual Professional from MyOutdesk will go and take all of that content and post it on every social network that we have, send out an email blast, create a blog post out of it, transcribe an actual video, whatever it might be.
And what’s cool about that is that the same kind of strategies can easily be deployed across any industry. But with real estate, I was a broker for over a decade, I managed a team of over 30 people. In the course of my career, I managed over a hundred people in my brokerage and I know very well that time is an issue. As a real estate agent or broker, you’re wearing about 120 different hats on a daily basis.
[21:00] (Daniel) All day long.
[21:03] (Travis] All day long, and there’s this up and down cycle of I have to market myself and prospect and prospect, and then you’re with clients, then now you’re working with the clients, then now you’re in that down cycle because you’re not prospecting and putting content out there trying to win the attraction of people. Now you’ve got to hurry and go up that hill again and prospect, prospect, prospect. So that’s why the real estate agent’s average life is this up and down, up and down. I’m doing awesome, I want to quit. I’m doing awesome, I want to quit, right?
[21:36] (Daniel) Right, yeah
[21:37] (Travis) We’ve kind of gone through that cycle where you’re pulling your hair out. You’re like, I’m not quite sure what to do next, I need help. and I can easily say that that’s where MyOutDesk is really the solution that fills that gap to be able to say, All right, while you’re out winning clients, we’re going to prospect for you. We’re going to take content and blast that out to people, keep that lead generation flowing however way you can, really nurturing your sphere of influence by, developing some sort of campaign that they can take care of for you, so you can go and do what you do best, which is talk to clients, win listings, get those closings and be able to actually scale and grow and win your life back, right? It’s so critical. We’re not in this business to just constantly grind and work.
[22:27] (Travis) We’re in this business to be able to have some sort of connection to other human beings have a positive outlook on… What am I going to be doing this weekend? Can I plan a vacation? Can I spend more time and have an impact.
But if you’re stressed out, you’re kind of towards the part where you’re like, “You know what? I think a nine-to-five job is probably going to be my best bet where someone else pays me, then you’re probably in that perfect range of saying, “You know what? I need someone actually helped me.” There is light at the end of that tunnel to some degree.
[23:04] (Daniel) Yeah, I heard it several years ago. Do the things inside your business that only you can do and give everything else away. There are a lot of things that only we can do. But, there are a lot of things that you can give away to somebody. Let’s get back to the Facebook stuff.
One stat there that was like, whoa, the average time used to be seven every seven years, somebody in the US changed their house, but now it’s like 10. It’s really extended and I think that’s that’s a crazy thing, and we talked a little bit about the repurpose thing.
So in the real estate industry, it’s getting harder and harder. People are staying put and not selling their house because they don’t know where they’re going to go. Interest rates are starting to rise. I think this is the time to double down for 2019. Every other real estate person out there is not planning, they’re ready for vacation time next week, they don’t have an org chart, they don’t know what the barriers are. So If you’re in that space, we’re going to post right here a landing page with Elevated Marketing on it. We’re giving away the repurpose program, we’re giving you a review thing that we’re going to talk about real shortly to help generate more leads for you.
[24:33] (Daniel) Travis has given us some of the slides with all this data, the consumer behavior and the life events, and how to combine those and the data so that if you decide to do this yourself, you have a way. But really what we want you to do is request a consultation with us. Have us help you figure out what your lead stuff is, who needs to be in your office, what your org chart should be. Maybe you need our help, maybe you don’t, it doesn’t matter. What we want to do is help you double your business, we want to help you grow.
I’m a real estate broker. God, I’ve now been licensed 14 years. I got a million bucks in transactions right now, which is crazy. I just love it. I can’t stop.
[25:18] (Daniel) All of the folks that work here, our job is to support you in this growth trajectory. Do you need more leads? Do you need more leverage? What’s the world that you’re in and how can we support you? So jump on there. Get all of our free giveaways, schedule a meeting with us and get all of Travis’s stuff. It’s good, man. It’s really good.
[25:41] (Travis) You hit on a key point there, that you brought up about people are spending… The average time lived in their house before they sell is 10 years. It was seven. That shift, that a little bit of time I believe is is because of the recession. Back in 2008 through 2010 there were some really big hits to a lot of people, homeowners and they lost a lot of equity.
Now what’s interesting is that the baby boomer demographic, they own 50% of all the real estate in the US. So Baby Boomers, that’s a pretty big demographic and they own a lot of real estate. So a lot of that I believe is that most of those homeowners didn’t have the equity in their homes. They were positioned to sell. They were sitting one a lot of massed amount of equity, but then with the recession, they started focusing more on home improvements and remodeling their house and staying put.
[26:49] (Travis) Now on the flip side of that we’re now entering into kind of a new life cycle and change where you have Gen X and millennials, over 80 million strong that are moving into the market as first time home buyers nd move up families, and they’re going to buy. Well, they’re typically going to buy, then the baby boomers homes. So it’s this is this perfect balance that we’re seeing right now, where a lot of those individuals, especially baby boomers need to downsize and we’re going to start to move in that.
So I think since 2008 to now we’ve definitely seen that increase, but I bet that’s going to actually start to shorten and we’re going to see more activity, basically a trade off between those two those two demographics there. So in terms of targeting, if anyone’s looking for listings and try to win those listings, you should be targeting baby boomers, and providing them information of value, something that Is going to help educate them. What’s really awesome is that with data, you can really see what do people want.
[28:03] (Travis) So, nine times out of 10 most homeowners make at least one major repair to their house six months before they sell it. A lot of the times, that’s just painting. So if you were to give someone a sellers guide on how to sell your house for more than it’s worth, Download our guide, our sellers guide, the 10 steps on how to get your house prepared and maximize every elements of profit. Yeah, what should you do? Paint your house, clean and declutter it, curb appeal, all those kinds of things, so focus on those prospects.
During this seasonal times, it’s really interesting, go into Google Trends… Kust go into Google and type in Google Trends, you’ll see a web page that pops up, type in “buying a house” and you’ll see that right around that Thanksgiving and then through the holiday season around December, there’s this huge uptick where searches for buying a house that almost triples over a five-year span. You’ll see it’s kind of like this chart and graph, you’ll see that there’s kind of a down from August to until around November, there’s kind of a down spike.
[29:29] (Travis) Then from around December to mid to late January, there is a huge spike of people all over the nation searching “buying a house” or “how to buy a house.” That right there is a huge indication. If a lot of people, millions of people are searching that keyword term during this holiday season, that’s where you can enter into their mind, pre frame them, and you can give them that information. You can give them that value because a good majority of all your competition, all the other agents are going to go kind of dormant right during the holiday season.
I’ve heard this time and time again. And really, I’ve spent over a decade in real estate sales. At the height of my career i had 271 listings, so I know what I’m talking about with this, which is that a lot of people I believe that they go dormant during this kind of holiday time because they think that there’s no business to be one, and it’s a mindset issue. The demand is there.
[30:32] (Travis) You just need to be strategic about how to get in front of those people in play the long game. Plant the seed. So from now right right before Thanksgiving until around February 1st, you have this golden time to really get in front of those people. So that’s Facebook ads targeting people that are interested in buying a house, whether that’s Zillow, Realtor.com, providing them information of value, you’re going to then see those people in the spring be the buyers. Those are the actual buyers. So just keep in mind, Facebook is about playing the long game, being strategic, and really nurturing those prospects. Winning them now… When I say winning them, it’s getting their name, email and phone number as actual leads and then developing a relationship, so they’re no longer a lead. They’re a prospect.
And then you give, give, give right throughout the holiday spring season, and when they’re ready, they’re going to go to you. That’s right. Really, that’s the opportunity that I see coming up.
[31:33] (Daniel) Yeah, and I would add on to that, I you’re 100% right. November and December have always been my best months for real estate, like always, because everybody else would take it off. The other thing that I would say is, now is when you do your planning for next year and really dive into how many leads did I get? Who’s on my team? What is everybody doing? Building culture, building a team.
One of the challenges we have as a real estate industry is our margins are super-thin, and so you have to have everybody highly engaged. You need to make sure that your best people are focused on what they do, and they might need help. They might be over-worked. I know the worst thing for a business owner is turnover, oh my God, and you’ve got to plan strategically. Think, what’s my team going to be next year? How many leads do I need to generate? How am I going to do that? What’s going to be my conversion process? Who’s prospecting for me? All of those questions are now questions to answer for 2019.
[32:39] (Daniel) So we’ve got the 12 D’s, man.
[32:42] (Travis) Yeah, let’s go over them. These are good.
[32:45] Yeah, I was just playing around with a client and we are talking about… We’ve got delisted from MLS, delusional people who think they’re going to sell their house themselves, FSBO’s, expires, divorce, death, debt, damage, disability. I bought some drug houses, so I got drugs on there, like, houses that were condemned by the city because of drugs. There’s also determined to move, displacement, people who are absentee homeowners.
The point is, I think… And you could probably help people with this, you have to have a strategy for each of those D’s, and have a campaign. Not only Facebook, but emails and a call conversation because if somebody had a death, you can’t walk in and be like, “Hey, I’m going to get you the most money for your house tomorrow!” You’ve got to start off with, “I am so sorry for your loss,” and I’m just here, I noticed this and X, Y, and Z, and I want to make sure that you’re fully supported in this horrible time for you and your family. There’s different conversations for all these things. So I don’t know, Travis, what are your thoughts about segmenting your data and who you’re going after, and your ads on Facebook?
[34:04] (Travis) Yeah, it’s it’s really critical. I mean people don’t necessarily enjoy ads, and I understand that as a marketer. But, people really, really hate ads that are not relevant to them. So, you want to make sure that you actually have highly relevant ads specific to the actual niche that you’re going after, because at that point time, and I’ve heard this from actual people, from different products or ads they’ve seen in Facebook based on what they’ve done. There’s a woman in her 70’s that I heard her say, “This is this is almost a sign from God, it’s kind of serendipitous.” It’s just really good Facebook ad targeting that she had the right product served to her at the right time.
Peeling back the layers of it, It’s really important to make sure that you have the right ad copy, the right ad imagery that’s really targeting those specific people within that life fit, right in that life stage, and that you’re sensitive about it. You’re not beating them over the head. The majority of the time you should be offering some sort of item of value, getting them to download a guide or some questions that they already have. So if you can use a certain creative tone in your copywriting that’s focused on answering a problem that they’re facing, or giving some sort of sigh of relief that there is an answer right. It’s not a silver bullet, but it’s enough information and you are giving it to them, so then you position yourself as the expert and authority figure
[35:44] (Travis) So by giving value, by giving the best information that you can and becoming an educator, you’re then naturally easily going to be perceived as the authority figure in your market on whatever topic it is. It could be condos, it could be probate, It could be how to manage to sell your home during a divorce. All those are unique and sensitive issues during an emotional time. We often forget that moving is an incredibly stressful time, so we want to make sure that we are not really beating them over the head with getting your business, but more of, hey, here’s some value. Here’s some reciprocity, some experience that I packaged in which is a quick read for you to truly understand what are the next steps to take.
So really we’re dividing all of those down and actually split testing them and saying, can I go after investors that are interested in houses that are basically 30% below market value, some old beat up drug houses, whatever it might be that have been repossessed, you can easily win investors from it.
[37:03] (Travis) We have a client that actually did over 3 million in sales in our coaching program just from one investor ad, winning investors that are basically focused on exactly that. So, you want to make sure that your follow up email, text, copy, all those things are really dialed in to the actual, what we call “Top of funnel ad,” the actual ad that is pulling those people in your funnel. So if it’s people that are moving up and they’re a growing family, you want to talk to them. They are also people that need to sell, that need to buy, they have kiddos, and they’re dealing with schools and school districts and everything else that’s kind of combined with being a parent in a family.
[37:41] (Travis) Then it’s the same thing with divorced couples. You want to make sure that you’re actually coming from a place of empathy. So the right message to the right person at the right time, it’s really critical.
[37:52] (Daniel) That’s awesome. Okay, we’re going to wrap up because we’ve already passed 30 minutes. How much should I spend on Facebook as a real estate person? Five, two grand a month? What do you think?
[38:03] (Travis) Yeah, it’s really what are you comfortable with in terms of your budget. Because really, Facebook is about playing the long game. We have clients that are spending 50,000 a month in ad spend. We have some clients that are spending $500 a month in ad spend, so really it’s it’s about what can you budget for, how many leads do you want. It’s not just about leads too, right? It’s also about brand awareness and keeping your brand in front of your friends and family, and past clients. Facebook can do an amazing job of really being able to build a solid brand awareness in the, market so you become kind of a rock star. Make people basically perceive that you are the head figure and authority figure of that.
So, really work with the end in mind. How many sales do I want by the end of the year? How many leads Is that going to take me? What is my past conversion rate with internet leads? Then put some data behind it and then go, “Okay now I know that the average cost per lead for me is going to be around six to $8 for a quality buyer lead.” Then you can kind of map out from there, based on that. So there’s not an easy answer for that. I would say that the average person in our Facebook coaching and training program is spending around $400 to $500 a month on ad spend.
[39:33] (Travis) Our agency clients are definitely a little bit more above that, because they’re typically bigger teams and bigger organizations, they have a lot of mouths to feed and keep happy, so a lot of leads really pump through there. There’s not a magic answer. It’s really about what do you want to get out of it and understand that Facebook is about playing the long game. It’s not for instant wins that I’m going to get a lead that’s going to be a buyer in the next six or 10 days. We’re talking about six to eight to nine months. When you do that, you will see some great rewards. Keep this in mind as you enter into that space.
LoanDepot, Quicken Loans, these are companies that spend millions of dollars in Facebook advertising. Now they buy leads from other Facebook advertisers and they buy the leads, they’ll pay top dollar. Five, six, seven hundred dollars for the leads that are the oldest leads. The leads that are six months, eight months 10 months 12 months old. The reason they pay top dollar for those are because they know that those people raised their hand from some sort of ad months and months ago, and now they’ve moved through the decision cycle, and they’re now ready.
[40:47] (Daniel) Ready. Yeah.
[40:48] (Travis) Right. Yeah. So keep that in mind when you’re doing your Facebook advertising and your campaigns, and you’re planning what you should do because it’s about playing the long game. Facebook’s algorithm is so smart that it can predict what they’re going to do in the future, and if you quit only two months or three months in, you’re giving up on an opportunity for the future, for future wins. So just, just keep that in mind.
[41:15] (Daniel) I love it. Travis, you’re awesome. Guys, visit our website. It’s linked right here. We’re going to get you that re-purpose thing, Travis’s slides and a consultation. If you want to grow, MyOutdesk wants to be there to help you. Travis, again thanks for all your time, your expertise and your care for our people, man. I appreciate you.
[41:34] (Travis) Yes, happy to be here. Thank you for having me. It’s great to actually chat back and forth. I think we could do this for another five hours.
[41:41] (Daniel) Yes, we could. All right. Thanks man. Have a great day.
[41:44] (Travis) Thank you. Bye, everyone.