Facebook Ads Mistakes Real Estate Agents Are Making in 2023
Running successful Facebook Ads in 2023 looks a lot different than it did in 2019 or 2020. So much has changed, including updates caused by the iOS 14 update with Apple (for privacy). There are some key mistakes Real Estate Agents should avoid making when running Facebook Ads. Mistake #3 is a BIG ONE that many Real Estate Agents haven’t updated in their mindset in a long time. Watch the video below to get the breakdown of each one!
Mistake #1: Ignoring the Changes
Since 2018-2019, the landscape of Facebook ads has changed significantly. The iOS 14 update and the need to comply with fair housing rules have altered the way real estate agents should approach Facebook advertising. To avoid issues like constant ad rejections, agents must stay updated with the latest changes and follow the guidelines. Ensuring the "special ads category" checkbox is checked is crucial to comply with fair housing rules and prevent any discriminatory practices.
Mistake #2: Choosing the Wrong Objective
Selecting the right campaign objective is vital for achieving desired outcomes. Real estate agents must align their objectives with the purpose of their ads. If the goal is to drive traffic to their website and generate leads, a traffic campaign objective can be suitable. However, if the aim is to build brand awareness or engagement, different objectives, such as "build awareness" or "build engagement," should be chosen. Considering the end goal and tailoring the objective accordingly is key to maximizing ad effectiveness.
Mistake #3: Misjudging the Budget
Understanding the appropriate budget for Facebook ads is crucial. Gone are the days when agents could test ads with a few dollars per day. Inflation has also affected advertising costs, and Facebook ads are no exception. Real estate agents need to allocate a sufficient budget to achieve their objectives. Typically, starting with a daily budget of $10-$15 for testing purposes is recommended. However, agents should be prepared to allocate a larger budget depending on their overall goals and objectives.
Running successful Facebook ads as a real estate agent requires staying informed, choosing the right campaign objectives, and allocating an appropriate budget. By avoiding common mistakes and understanding the changing landscape of Facebook ads, agents can improve their marketing strategies and close more deals. Remember to adapt to the updates, select objectives wisely, and allocate sufficient funds to maximize the impact of your Facebook advertising campaigns.