If you’re a real estate professional with any kind of a digital presence, retargeting is low hanging fruit you need to be capitalizing on!
Did you know that 98% of the people who visit your website will leave without taking any action?
That means you’ve built an amazing website, filled it with engaging content, and only 2% of your visitors are going to be motivated to buy right away. What gives…?!
Let’s take a look at retargeting for real estate and how you can use it to convert more visitors to leads with retargeting ads.
What is Retargeting?
Retargeting is online advertising that delivers your ads to the people who have already visited your site. It typically involves adding a short piece of code (called a code snippet or pixel) to your website that adds a cookie to your visitors allowing you to “follow” them around the internet. Most ad platforms have their own code snippets or pixels you can use.
When a visitor comes and goes from your website, the code snippet will track them around the internet, delivering your retargeting ads to keep your brand at the top of their mind.
How Does Retargeting for Real Estate Work?
Imagine for a moment that someone visits your site and browses your real estate listings for a four-bedroom, three-bathroom, 2,500-square-foot house with a two-car garage and a pool in a specific area, but leaves without scheduling a viewing or reaching out to you. Bummer, right?
With retargeting ads, you can show ads to that visitor as they browse other websites. This means you could follow them around the internet, showing photos of listings like those they were checking out on your website.
The point is to get that visitor to click on one of those ads to come back to your site. And these ads work.
According to Kenshoo, the average click-through rate (CTR) for retargeting ads is 0.7%, which is great compared to the CTR for display ads (0.07%).
And, retargeting website visitors increases conversion rates by 70% (Adobe CMO).
When Should You Set Up Retargeting Ads?
Instead of thinking about retargeting ads as a supplement to your regular ads, you should add these ads to the mix before you set up any cold ads.
Retargeting ads are going to be based on your site visitors. If you don’t have enough traffic, your retargeting ads aren’t going to run. Which means they’re not going to cost you anything.
So, set up retargeting ads first. Just do it. Then set up your cold ads.
Remember, retargeting ads don’t work on their own. The combination of cold ads and retargeting ads is going to bring visitors to your site and then feeding that information into your retargeting campaigns.
To get the best results from your retargeting ads, here are a few things to keep in mind:
Retargeting ads should be part of a broad digital marketing strategy that includes content marketing and additional inbound (and outbound) marketing tactics. Include powerful calls-to-action and headlines in your ad copy.
Focus on the benefits and how your audience’s lives will improve instead of just listing features in your ads. Use multiple tools and tactics to drive traffic to your website. Pair your ads with specific landing pages on your website.
How to Use Retargeting for Real Estate
Retargeting works by consistently delivering your message to build brand recognition. Over time, this increased brand awareness leads to increased conversions. When buyers are familiar with your brand, they’re more likely to trust you. That trust is what’s going to bring them to you instead of your competitor when they’re ready to buy or sell a property.
When you have retargeting ads in place, your name and brand will be in front of the right people, increasing your click-through rates and earning you those commissions.
BUT HOW DO YOU ACTUALLY USE RETARGETING ADS FOR REAL ESTATE? HERE’S A 6-STEP PROCESS THAT MAKES IT EASY.
Step 1. Segment Your Database
When you have a well-segmented and organized CRM (customer relationship management) tool, you’ll be able to fine-tune the messages you’re showing in your retargeting ads.
You can use different retargeting pixels on specific pages of your site and design targeted marketing messages based on the unique content and services you offer for each segment. This makes it a lot easier to customize your marketing messages to each stage of the buyer’s journey.
Some real estate agents use segmenting with retargeting ads to send targeted mortgage options or even offers for buyer consultations.
Step 2. Set a Target Audience
As a real estate agent, it’s likely that you have a target audience in mind. Do you work in a specific area of the city? Are you a specialist in historic properties? Do you have a knack for finding families their perfect homes?
Once you have your CRM segmented, you can focus on your target audience (or target audiences), creating just the right message to reach them.
This makes your retargeting campaign much more strategic and, ultimately, cost-effective.
Step 3. Limit Your Ad’s Display Frequency
While it seems counterintuitive to limit how often your ad serves, it’s something you’ll definitely want to do. If potential clients see your ads too often, they’ll be annoyed. And that’s the best-case scenario.
Worst-case? You’ll be burning up your marketing budget on ads that clients aren’t even seeing anymore. This is called “banner fatigue” and it happens when potential clients see your ad so often that they learn to ignore it.
Either way, you don’t want potential clients annoyed with or ignoring your ads.
There are two things you can do to keep this from happening.
Set a frequency cap on your ad so potential clients see if no more than 15–20 times per month.
Set a frequency cap on visitors before trigging your retargeting pixel. Focus on highly-qualified leads who visit your website often and don’t go after those who only visit every once in a while.
Step 4. Add a Stop Code
Once a potential client does what you want them to do (sign up for your newsletter, book a buyer consultation, schedule a viewing), you’ll want to stop delivery ads to them. You can do this with a burn code or burn pixel.
Sounds complicated, but it really just means creating a list of people who have converted and excluding them from your retargeting campaigns. You could also add them to a new list and target them with more relevant ads and offers.
Step 5. Choose a Single Retargeting Platform
While you might think it makes sense to run your retargeting campaigns on several platforms, but we strongly encourage you to choose a single retargeting platform to get the best results.
If you’re using more than one retargeting platform, your ads may compete with one another and drive up the cost of your retargeting campaigns. Plus, you could show your retargeting ads to the same audience, increasing the odds that your ads will become annoying to those who are seeing them.
Step 6. Split Test Your Ads
Always, always, always split test your ads.
Split testing helps you figure out what exactly resonates with your audience so you aren’t wasting your marketing dollars on ads that aren’t going to get you the best results possible.
Experiment with headlines, images, calls-to-action, and ad copy to see what performs the best.
Quick Tip: Rotate your ads every 3–5 months to keep branding fresh.
Use Retargeting for Real Estate to Drive Leads
Retargeting ads can be extremely valuable for real estate, yet few real estate agents use it.
Get ahead of your competition by creating your retargeting ads today.
With high-quality ads backed up by brilliant landing pages and a killer real estate website, you’ll get your brand in front of the right people and your business will skyrocket.
If you’d like to learn more about retargeting ads and for your business, just schedule a free strategy call with us today!