One of the most effective tools to use in the marketing industry is Facebook ads. Even if your mortgage company is small, using Facebook advertising for lenders provide you with the power to reach thousands of accounts that generally would be out of reach.
By understanding how to manage Facebook ads for your mortgage business, you can help to improve your traditional marketing plan. However, creating a successful Facebook marketing campaign isn’t just as easy as setting a budget on Facebook and walking away.
That’s why we created a comprehensive guide to understanding mortgage advertising for lenders. In this guide, you’ll find everything that you need to understand to develop and run a successful campaign that targets your goal audience. Keep reading to learn more!
Why Should You Use Facebook Ads for Mortgage Advertising?
Whether you’re interested in generating new leads for your mortgage company or you’re interested in creating brand awareness, Facebook ads should be the center of your marketing strategy. Not sure why Facebook ads are so essential to the success of your business?
Well, what if we told you that the average Facebook user will spend two hours a day on the social media platform? According to reports from Facebook, there are two billion people who use social media platforms every month.
For your mortgage company, this creates an opportunity for you to market your company to a platform of people that you can’t reach with any other type of marketing option.
Plus, you can easily target your Facebook ads. There’s tons of information that users on Facebook freely provide the platform, which means that your company will have access to unique data that may be otherwise unavailable to you. Not only does this allow you to narrow down your target audience, but you also get access to other powerful tools to help you up to your marketing game.
This means that you’ll have the ability to target the Facebook users that are more likely to be interested in the services they are offering, instead of spending your marketing money on people that aren’t going to be concerned. As a result, this creates the chance for you to spend your money reaching customers that will return your investment.
What Audience Should Your Mortgage Business Target?
Before you begin creating ads, you need to understand who your target audience is. This will provide you with the ability to directly speak with the people that are interested in purchasing your services. Use language and photos that your target audience will relate to and help make your brand even more personable.
You can refine your Facebook by selecting specific interests that are unique to your target customer. You can also choose your target audience based on their previous purchase interests and behaviors. These behaviors are determined by the data that Facebook collects from its users.
To refine your target audience, even more, you can select your target audience based on their connection to any events or pages. This is a helpful tool to use to connect with people who have expressed interest in the services that you’re trying to sell.
How to Use Facebook Advertising As A Lender
Now that you have a better understanding of the benefits that Facebook advertising has to offer your business, it’s time for you to understand how to make a Facebook advertising work for you. Here’s how to go about making a Facebook ad work for your company:
The first step you need to take to set up your Facebook advertising account is to install your pixel, which is a piece of code that you install onto your website that allows Facebook to track the conversion rate, views, and other essential information that you need to build your audience.
Also, Facebook pixel gives you better insight into the actions that people are taking when they are on your website.
Build Three Target Audiences
When you’re creating your Facebook ad, you should focus on three target audiences for you to show your ads to. These unique audiences will allow you to render your services to people who are experiencing different stages of the buying process.
The first audience that you should target is based on interests, which are the clients that may be interested in your services but have no idea who you are. To pick accounts that sit within this category, you should pick characteristics that fit in with the target client that you are trying to convert.
The second audience is based on the people who visit your website anonymously, as it went to target these people simply because they have an understanding of who you are and what your business is. Facebook will allow you to choose an audience based on website visitors from any number of days, back to at least 180 days, we visited your website.
Lastly, you’ll want to create a target audience based on the contact information that you have for your current email subscribers and any past clients. You can pick an audience from a master list of everybody that’s in your database, any subscribers that you have on your newsletter or email, any clients you close with, any client that’s renting from you, and anyone who’s been made a homeowner from your business.
You can set these three audiences up in your ads manager.
When you’re creating campaigns, you need to ensure that you’re reaching your target audience at each stage in the buying process. That means that you have to create unique ads for each step of the buying process.
You want to do this to raise awareness to your target audience about how your business could benefit them during each stage. Each campaign you create needs to have a different objective.
Creating a Campaign for the Awareness Stage
The first type of ad that you should create for Facebook is focusing on getting as many viewers on your content as you can to have them later be retargeted in another ad campaign.
The importance of this campaign is to provide you were us who are unknown to your business and introduction to your services, as well as a reason to start trusting you.
The very first goal that you should have with your Facebook ad is to make people aware of your brand, but only be sure to target people who are in your target audience. You want people to click over and go to your website, which is why you need to hook people with content that they find useful or entertaining.
For the second ad campaign that you create with Facebook ads, your goal should be to target people that you have information about to continue marketing tool. The purpose of this campaign is to gain traffic or conversions; whichever one you decide is a better fit for the goals of your business.
The third campaign you can create on Facebook ads is to convert your current subscribers. You can create this ad to send your future clients to a landing page form, which should provide them with your contact information so you can set up a consultation meeting with them.
If you’re not sure what type of landing page you should send your clients to, you can play around with A/B testing.
Understanding Your Mortgage Ad Results
To get a better idea of how well your ads are doing, you should check out the Facebook ad manager. This will take you to a dashboard to provide you with tons of information about your ads, such as Cost Per Action, actions, and frequency.
The action report will let you know how well your ad is performing to reach your goals. Cost per action will provide you with insight into how much the action that your target user performed cost your business. Frequency identifies how often your target customer saw your ad.
If you notice that your ad had a high frequency, but didn’t have that many actions, you should stop using that ad and create something else that’ll better perform with your target audience. Otherwise, you’ll just be wasting money on clicks that are converting for your business.
The Importance of Facebook Advertising For Lenders
One of the most accessible mortgage advertising tactics you can use is running an ad on Facebook. However, if you aren’t sure how to find the best way to utilize a budget for your Facebook ads, it can seem overwhelming.
That’s why we are currently offering a free consultation to lenders Who are interested in implementing Facebook advertising into the marketing strategy. Click here to learn more!