With many real estate negotiators now using Facebook to market their properties and development projects for sale, its good to understand how Facebook works when it comes to charging for their advertising services. Real estate digital marketing has become an essential tools for agents and negotiators.

One important thing to note, is that Facebook advertising is a form of push advertising, which means that you push advertising to a target audience, who may or may not be interested in your services. So choosing the right audience is very important because if you don’t, you waste advertising dollars paying to display your ad to people who aren’t even interested. This is different from Google search advertising, which is a form of pull advertising because its based on keywords that people are searching for.

Anyone that has used Facebook advertising before knows that there are multiple options to choose from and many ways to target people based on different campaign objectives. This can be very confusing for real estate agents especially negotiators who have had no prior experience with using Facebook advertising. In this article we will break down the basics to how much it cost to advertise on Facebook, so there is a better understanding on why and how agents should use Facebook advertising for your real estate marketing objectives in Malaysia.

Download Now: Real Estate Social Media Posting Calendar [Free Access]

How your advertising budget is spent on Facebook

There is no straight answer to how Facebook spends your advertising budget. Its is based on a variety of factors and is run like an auction, where you bid for exposure for your ad to a selected target audience.

The main thing to decide on at the start is how much you are willing to spend on a daily basis for your Facebook campaign. Facebook will make recommendations based on your target audience, but ultimately you will need to decide how much to allocate for this marketing channel.

Based on what marketing objective you have chosen you can also decide how much you are willing to pay for an action whether it’s an impression, click, conversion or page like. Again Facebook will give you a recommendation or even manage the bids for you, but ultimately you can choose how much you are willing to pay for an action.

What factors affect how much you actually spend on Facebook

Facebook has many options for what kind of advertising campaign you would like to run, whether your goals are to get clicks, get more exposure, get page likes, or leads.

But the main factors that affect the cost per action includes:

– Target audience chosen

– Quality of ad

– Click through rate

– Time of the year (season)

– Advertising competition

– Campaign engagement

Types of bidding options

Depending on your selected objective you can bid on actions based on the below options:

CPC – cost per click

CPM – cost per 1000 impressions

CPA – cost per acquisition

CPL – cost per lead

So many options! Which do I pick?

Well a good marketer will tell you to test them all, so you know which combination will generate the best results, at the cheapest costs. But doing this will take some expertise and a lot of time invested into testing out which combination yields the best results. So it’s best to hire the experts handle the optimisations of your Facebook advertising campaigns.

What other cost is there?

Part of your marketing budget should be invested into getting digital marketing experts to setup and manage your Facebook campaigns for you. Because they spend most of their time optimizing digital marketing strategies, they have the experience and time to invest into your campaign, and work out the best strategies for getting the best results. The more niche the digital marketing agency is the better, ones that specialize in real estate marketing will have the most experience and insights to offer you.

These are tasks a digital marketer can do for you to save you time and efficiency with your Facebook real estate marketing.

• Setup campaign
• Develop ads
• Monitor ad frequency
• Spilt testing ads
• Setting up fresh new ads
• Audience selection and optimisation
• Objective selection and optimisation
• Data analysis for optimisation
• Reporting on results

Here are some Facebook stats to give you an idea of how much Facebook costs globally

Conclusion

In summary, Facebook costs for lead generation are still quite affordable in Malaysia compared to other countries globally, but Facebook costs will gradually increase based on more companies advertising on Facebook, and costs of bids will naturally increase. For now, it’s the best time to get started with Facebook marketing as a channel for marketing your real estate business. But before you begin, its best to consult some digital marketing experts, who specialise in Facebook marketing for the real estate industry in Malaysia. Start your Facebook marketing journey today with a good start.

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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Arguably, the one thing Malaysians love more than their food is social media. In a traffic jam or at the dinner table, you will be hard pressed to find a head that is not bent over their smartphone. Recently, Malaysia’s dominance on social media was demonstrated when two local heroes were elevated to the world stage via online votes, to claim the prestigious 2016 FIFA Puskas award and the World’s Funniest Person title. These events emphasise the power of social media marketing. If it can bring money and fame to a few select individuals, imagine what it can do for your real estate business.

Social media works on the concept of Six Degrees of Separation. Simply put, it means that each person on the planet is only six introductions away from any other person on the planet. It is kinda like your office gossip mill but only better. Information zooms through the ether and slices across distance, gender, age and cultural differences. Just throw a virtual stone into social media and chances of it hitting your next client is huge.

While there are many social media apps to choose from, Facebook is by far the most popular choice for Malaysians. In fact, when the company opened its local office in Malaysia in 2016, it revealed that 80% of all Malaysians who have access to the internet are also on Facebook. That is approximately a whopping 18 million users – more than half of Malaysia’s population. To top it off, REHDA’s Home Buyer Survey 2017 found that 40% of purchasers in Malaysia are between 20 – 30 years old. They are also one of the highest social media consumer groups. In case you are having any more lingering doubts about marketing your real estate on social media, get this: 94% of Malaysians discover products and brands on Facebook, and 62% make a purchase after discovery.

Download Now: Real Estate Social Media Posting Calendar [Free Access]

So now that you know that social media is as critical to your real estate marketing as sambal is to nasi lemak, here are six quick steps to get you started.

1. Use Consistent Branding

“Branding is the art of becoming knowable, likeable and trustable,” says John Jantsch, a marketing consultant who specialises in helping small businesses. It might be tempting to reinvent yourself through the array of different social media platforms available – but don’t. Marketing on social media is all about building relationships and the first step to that is getting people to recognise you. Let your personality shine through but maintain the same name, contact information, logo, etc, across all your networks.

2. Use Social Sharing Buttons On Your Website

This is a simple step but an important one. Social sharing buttons work like ‘word of mouth’ publicity and create free promotion for online businesses. Scott D. Cook, director of eBay and Procter & Gamble says, “A brand is no longer what we tell the consumer it is, it is what consumers tell each other it is.” Add social sharing buttons to your personal website and all your social networks and content, including your listings.

3. Sell Your Services

The bottom line for your business is: you have to convert browsing customers into buying customers. Once you have engaged your potential clients online, nurture your relationship with them. Then, take it a step further and continue the conversation offline. Ask questions but don’t be intrusive: Did they just get engaged? Are they new to town? Are their elderly parents moving in with them? Are they looking for a new home soon? When you understand their problems, sell them the solutions you can provide. Encourage them to give you a call so you can tell them about some great listings in their area.

4. Add to the Conversation

Stand out from the crowd by using what you already have – experience and knowledge. Your real estate expertise is unique to you, so leverage on it to act as a resource for leads and potential business partners. In other words, add value to your business. As Milton Hershey, the founder of Hershey Chocolate Company says, “Give them quality. That’s the best kind of advertising.” People will be far more interested in doing business with you when they see you as an expert in the real estate industry and that you are giving them value for money.

5. Listen

It is a fact: tin kosong makes the loudest noise. The best way to avoid turning into one and attracting business leads is to listen. Keep track of real estate trends and what customers are talking about, both online and offline. You can also use monitoring tools like Google Alerts and Hootsuite to discover what people are saying about you or your business. This will help you to customise the messages you broadcast on your social networks.

6. Expand Your Presence

So, you already have an account on Facebook, Twitter, Instagram and LinkedIn for your real estate business. Great – but don’t stop there. Experiment with new social media apps or consider creating a blog. The important thing is to find out what works best for your audience. Then, get personal. Interact with your audience, pay attention to all your newsfeeds and make sure you’re communicating with your followers and friends consistently.

So, there you have it, six simple steps to jumpstart your real estate marketing on social media. Do you have any more tips for social media mastery? Let us know in the comments!

Stay tuned with the realestatemy.com/blog for more up-to-date tips and guides for real estate marketing professionals.

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