Aiva
Qualifying Leads
What is LPMAMA in Real Estate?
Too many unresponsive leads in your CRM? Want to make them talk again? In this post, we present 3 effective ways to retargeting real estate leads. Keep reading!
Are you a real estate agent working on leads generated through online channels? If yes, you might know that they have become expensive in recent times. It costs more than $50 to generate a single lead on Zillow which happens to be the top lead gen platform.
Platforms such as Facebook also cost you money when you consolidate all the expenses as Facebook real estate leads must be nurtured over a period of time. However, that’s only half the challenge. The real challenge begins when you work on one of these leads over a period of time and they suddenly go unresponsive. It is the most disheartening moment and every agent has to face this.
A lot of leads in your CRM must be lying unresponsive at this moment while you read this post. How do you bring them back? How do you get them talking again? This is when you turn towards retargeting campaigns. Retargeting allows you to surgically target those unresponsive leads and make them take the actions you desire.
When we think about retargeting Real estate leads, we primarily think of three channels. These are:
- Email drip campaigns
- Facebook retargeting ads and,
- Postcard Marketing
Let’s see how the three modes of retargeting can help you generate a response from your unresponsive leads.
Email Drip Campaigns
Email drip campaigns are the most preferred way of remarketing or retargeting to real estate leads. It is because you can vary the length of the email (message) and send your leads more than one email over a period of time.
In addition to that, emails also allow you to create segments based on the lead behavior and then personalize your message. Each email in the campaign could focus on an individual reason for unresponsiveness. This is why emails are a great medium to reach real estate leads who are going to need multiple touches to make a big decision.
Your email marketing drip campaign strategy should be based on the probable causes due to which your lead has stopped responding. These can be:
- Wrong contact information
- Lead not available / on vacation
- Lead has decided to rent
- They have already found another agent
- They are simply not ready to buy
A lot of times leads may mistype their number that makes them unreachable. The first email for your drip campaign should target these users. It may also happen that the lead has decided to rent a property instead of buying one. In that case, your second email in the campaign should aim at communicating the benefits of buying vs. renting a house.
It may also happen that the lead is already working with an agent. This is when your email should aim to get this affirmed by them. If they confirm that they are indeed working with someone else, it is better to leave them. However, if you still do not hear from them, most likely they are not ready to buy yet. In that case, shoot your last mail with the intent to show that you are still available to consult once they have made up their mind.
Read our previous blog post on real estate drip campaigns to learn the topic in depth. We have also provided sample emails curated with respect to the reasons that you can send to your unresponsive leads.
Drip campaigns are undoubtedly one of the best ways to reach your unresponsive leads but they come with their own share of disadvantages. A lot of these emails end up in the promotions tab these days which makes them less effective. In addition to that emails have their own set of barriers. Your lead must open, read, and then take action.
Consequently, a platform that can guarantee a more robust and visual representation of the message along with instantaneous discovery can be highly useful. This is where Facebook ads come into the picture.
Facebook Retargeting Ads for Real Estate
Facebook retargeting is highly effective due to the fact that Facebook ads are served with respect to user behavior. Your ads reach the right audience with Facebook. In other words, your ad dollars are spent on the right people for the highest ROI.
Overall, Facebook retargeting for real estate leads is highly effective because:
- Almost everybody has a Facebook account
- Leads spend a lot of time on Facebook
- Facebook ads have visuals and CTAs to increase engagement
- Facebook algorithm is built on the idea of serving relevant ads
Now that we understand that Facebook ads can effectively revive unresponsive leads, how do we go about making them?
It is simple, just segregate the intent of the ads into upper, mid, and lower funnel as mentioned below.
Upper Funnel Ads
Upper funnel ads are supposed to drive your brand awareness and earn clicks. Content such as a home buyer checklist or FICO score eligibility checklist can be highly effective in this stage. Once your lead clicks and interacts with an upper funnel ad the Facebook algorithm can serve the rest of the ad inventory for the mid and lower funnel ads.
Mid Funnel Ads
Mid funnel Facebook ads can provide content on establishing the fact that you are the best man to get this job done. Mid funnel ads can promote a piece of content on how to find the best agent or a market report, etc.
Lower Funnel Ads
Once you have established that you are a skilled agent and can give them the best deal it is time to seal that with ads that allow your leads to take action. Yes, lower funnel ads can have a CTA for the leads to book a meeting or appointment. Additionally, you can also feature some testimonials that solidify your credibility.
Facebook retargeting is vast and we encourage you to read our previous post to understand it in detail. We have featured good vs. bad Facebook ads to help you make the right ads and drive high CTR and engagement.
Postcard Marketing
Postcard Marketing in real estate holds a very important place because postcards have the potential to create a strong emotional connect with the leads. Home buying is an important decision for people and an ability to create an emotional and humane connection can really make a lot of difference.
In addition to creating an emotional connect, postcards also allow your lead to take action immediately by following a QR code. This is how postcards bridge the gap between online and offline marketing in real estate.
USPS says that the majority of people like receiving postcards and more than 80% of the recipients read them and a majority of millennials scan the QR codes in postcards. This is why postcards emerge as a great medium to target unresponsive real estate leads.
Postcard marketing can be executed by segmenting your messages for triggered and tailored campaigns. Triggered campaigns are built in order to establish your credibility as an agent while tailored campaigns are created to generate a response from your leads. This is why tailored postcard campaigns are lower funnel as they are meant to book meetings and appointments.
One of the most common themes for triggered campaigns are “just sold” and “just listed” properties. The postcard may contain the shot of the house along with your picture and number. Tailored campaigns on the other hand are mostly made on open home invitation or free home valuations.
Retargeting for real estate leads has become important as the cost of lead generation increases every year. Email marketing, Facebook retargeting, and postcard marketing are undoubtedly the most effective mediums to retarget your unresponsive leads. Provided that you have the right strategy, you can bring back a lot of leads and get them talking again.
