In an earlier post, we referenced how Kevin Lee started flipping homes in the Sacramento area in 2017. What were the results? In just 18 months, he completed 28 house flips! In under 2 years, Kevin became a successful real estate investor employing 21 people.
What did Kevin say were the real estate marketing methods that got the best results?
Cold Calling
Direct Mail
Pay-per-click advertising
Radio ads
We covered cold calling and direct mail in a previous post. In this article, you’ll learn about the last two of those marketing methods, PPC (Pay-Per-Click) advertising and radio ads. You’ll find out how you can leverage these two powerful advertising tactics to give your real estate marketing a significant boost.
So, what are the specific benefits of these two marketing tactics?
Although your go-to option for finding deals might be to check the MLS, you probably also noticed that too many other wholesalers, house flippers, and others are using that same source.
By diversifying your methods to find deals and reach out to buyers using PPC advertising and radio ads, you’ll:
- Start sending traffic to your website today and generate motivated seller and cash buyer leads immediately
- Get your name out there for motivated sellers and cash buyers to find you much more easily
If you’re ready, let’s take a closer look, first, at PPC advertising.
Pay-per-click advertising and why it matters
According to adwordsnerds.com, “Google PPC remains the single most powerful marketing channel in real estate investing, period.”
Pay-per-click advertising is direct, online advertising where you pay each time someone in your audience sees your ad and clicks over to your chosen URL. Common platforms for PPC advertising are Facebook, Google, and Microsoft.
Google Ads, for example, are the ones that you see displayed above and below the search results that appear after you type something into the Google Search bar.
So how can you set up your first PPC advertising campaign?
Follow the steps outlined below:
- Answer the question, what are my advertising goals? (For example, to drive traffic to my website).
- Answer the question, who is my target audience? (For example, motivated sellers in my area. With Google Ads, you can essentially say, “Only show this ad to the demographic I want. Google can’t specifically target motivated sellers, but you can use what people are searching for to target them.”)
- Choose a platform such as Google Ads or Facebook Ads.
- Choose your relevant keywords (if using search ads like Google Ads).
- Create a clear, concise, and attention-grabbing ad that addresses the searcher’s problem or “pain point” with a solution and gives a clear call to action (CTA) or tells them exactly what you want them to do next.
- Set a budget that aligns with your advertising goals.
- Launch your ad and monitor its performance. Adjust as needed to improve its performance and achieve your advertising goals. If you’re using Facebook, it has a learning period to determine who is the best audience to show your ads to, so be patient.
At this point, you are probably asking, how much does PPC advertising cost? The answer is not straightforward, it depends on a number of factors. Unfortunately, real estate is one of the industries that have higher costs per click (CPC). This is because real estate is a highly competitive industry, and there are potentially high profits to be made when a click from a PPC ad turns into a deal.
If your monthly budget is limited, perhaps between $500-$1,500, it will be more cost-efficient for you to target some individual states or cities. If you do a nationwide campaign, the cost will be much higher.
PPC advertising is definitely a great way to engage with your target audience. Facebook and Google are two of the most popular PPC advertising platforms.
What’s the difference between the two? Google is a search engine, and Facebook is a social media platform. Using either one or both will help you reach your target audience.
Which platform should you choose? That’s up to you, but keep the following in mind, someone on Google who’s typing “sell my house fast” into the search bar is actively searching for a solution to their problem.
A person who is on a social media platform like Facebook is likely just killing time. Their motivation level is different.
For example, if you are targeting an investor or cash buyer, Facebook could work well because they wouldn’t necessarily be actively searching on Google, but they might see your ad on Facebook.
On the other hand, for motivated sellers or buyers that aren’t looking to buy conventionally (because they have some kind of problem) then, Google could be the better option.
Radio advertising and why it matters
As an investor looking for motivated sellers or cash buyers, it is a safe bet that a good percentage of your target group will be tuned in to the radio as part of their regular routine.
Which radio station should you choose to air your ad? If you have a good idea of the age range of your target group, you can choose the radio station accordingly. Different radio stations usually have their own clearly defined target demographic.
If you want to have a clear idea of how many leads come from your radio advertising, you could have a dedicated phone number for your listeners to call.
Some prefer to encourage listeners to visit their website, especially if it is a memorable website address. This can make it easier for listeners to take action because it is usually easier to remember a website address than a phone number.
Another advantage of radio advertising is that radio ads will help you build your brand and increase awareness of who you are and what you do. This builds trust and makes people feel more comfortable doing business with you.
Preparing the script and costs
When preparing your radio ad script, you need to keep a few things in mind. Firstly, radio ads are short. Think in terms of a 30-second ad. This means your script probably needs to be between 40 to 75 words.
As you will see when you start to write your ad, that means you need to get straight to the point. If you are targeting motivated sellers, for example, you need to briefly cover the following points:
Obstacle
State the obstacle they are trying to overcome (They need to sell their house quickly)
Empathy
Convey that you care and can help
Magnify
Magnify the obstacle in front of them (the consequences of not resolving the problem)
Solution
State how you can help them overcome it (We can sell your house fast)
Credibility
Indicate your credibility (How long you have been in business or a one-sentence testimonial)
Action
Clearly state the call to action (Tell them precisely what you want them to do next, visit your website, for example)
Thirty seconds sounds like plenty of time to get your message across, but it’s not easy to cover all of the points in that time, so it will take a bit of crafting. Be sure to time yourself reading the script, and keep cutting it down to just the essentials.
So, how much will your radio ads cost? The cost of radio advertising can range from dirt cheap to super expensive depending on many factors, including your location.
To give you an idea, in New York, a 30-second radio ad will cost you $1,400.00 plus. In Topeka, Kansas, you can get a 30-second radio ad for about 25 bucks.
According to statista.com, “In the first quarter of 2019, 92 percent of adults listened to the radio at least once a week…reach was highest among 35 to 49-year-olds and those aged between 50 and 64 years, with 94 percent of adults in these age categories listening to the radio weekly.”
Your professional real estate investor website is an essential part of your marketing strategy
In this article, we’ve looked at two highly effective marketing tactics, pay-per-click advertising and radio ads. As effective as these tactics are to generate leads, those leads also need to be captured and converted. If not, then you are throwing money away.
A high-quality website is vital to the effectiveness of your overall marketing strategy and the success of your real estate business. The right website will be the perfect place to send your leads so that you can capture and convert them.
With almost two decades of experience, Done Deal Website provides high-quality websites for real estate investors. To set yourself up right away and in the right way with a real estate investor website that will help you fulfill your marketing goals, check out the demo.