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One of Facebook’s advertising features we find that Realtors® are significantly underutilizing are Lookalike Audiences. Properly harnessing these lookalike audiences will not only help you spread your brand further, but also give you access to fantastic potential clients you probably would not be able to attract any other way.
But first, let’s examine the following:
What Is A Lookalike Audience?
Before we get into what the two fantastic lookalike audiences are that you can use to boost your Real Estate leads and sales, let’s first discuss what Lookalike Audiences actually are. Specifically:
A Lookalike Audience is a way to reach new people who are likely to be interested in your business because they’re similar to your best existing customers.
So in other words, let’s say you have a retargeting pixel on your website and a visitor is searching for multi-million dollar properties in Palo Alto, California. You could create a an audience of people just like that multi-million dollar property buyer that you could then serve Facebook ads to, in the hopes of turning those people into qualified leads.
As you can see, lookalike audiences can by very powerful tools to help grow your leads database.
Two Fantastic Lookalike Audiences You Need To Have Running In Your Real Estate Facebook Ad Campaigns
Lookalike Audience #1: People That Search Listings On Your Website
I more or less described this above, a moment ago, but I cannot speak more highly of this group. Not only can you target people that are like other website visitors checking listings out on your Real Estate Website, you can segment that group. Imagine being able to create lookalike audiences for each type of home searcher you have come to your site?
For instance, you could have a group for $500K-$999, then $1,000,000-$2,500,000, and then perhaps over $2,500,000. Splitting them up in groups allows you to engage these people with highly curated, pertinent content that they are sure to deem value added, pertinent and worth engaging with.
Lookalike Audience #2: People That Are Similar To Your VERY Best Clients
This one might be a little less intuitive, but it can be equally as powerful. After all, you love your past clients. Not only do you love them, they love you. You were able to build enough rapport with them to get them to select you to sell their home for them. Why wouldn’t you want to be courting people similar to these folks, in the hopes of getting them to become clients?
This one is slightly trickier, in the sense that you don’t use the Facebook retargeting pixel to accomplish creating this lookalike group. Instead, what you want to do is log into your Real Estate CRM and download your client list into a spreadsheet. Specifically download their name, mobile phone number and email address. Then, you’ll go into your Facebook Ad Manager to upload that list and create a lookalike audience based on it.
Basically what happens is Facebook analyzes your list, compared to their user database. They will identify the users that have matching email and mobile phone numbers, from your spreadsheet, and create the lookalike audience based on the info in your past client’s user profiles. Suddenly, BOOM! You have a lookalike audience that matches your IDEAL clients.
There are many ways you can take advantage of the Facebook advertising platform and the power of lookalike audiences. These two though are not only underutilized, but very productive ways to gain more traction in your marketplace, giving you greater opportunities to close more business than you ever imagined possible.
What are your favorite, “go to” lookalike audience strategies? Please share in the comments below.