Transform 2017 Week 6B Jed Carlson: The Art of Retargeting Online for Real Estate Agents
Here are the highlights from our Super Six session with Adwerx CEO, Jed Carlson
- Your three most important audiences as a digital marketer
- How to stay top of mind with your farm area when they are online.
“Recent data says that makes email marketing 61% more effective”
Thanks. It’s great to be part of this and we’re really excited to introduce Adwerx into Australia but also to be part of the Elite Agent Transform Program.
So I think the most important thing to start off the conversation with is to understand what’s changed in the ad tech industry. It used to be that you would target ads based on the website, but now, that’s completely changed, and now you target ads based on the audience, and so specifically what I mean is you could pick out an audience of people say who were interested in real estate, lived in a certain area, and then ads follow them around wherever they go, whether it’s Facebook or the Weather App or espn.com.au or whatever it is.
The reason that this is really important is because it really dictates your strategy these days. You have to worry less about the tactics of where something goes, but you can get really, really effective at targeting audience.
Now let’s talk about the three most important audiences, or the three audiences in the order that I think makes the most sense as a digital marketer. If I were a real estate agent walking in your shoes, this is how I would think about it.
So the very first audience, and by far the most important one. Statistically, two thirds of your business comes from this audience is your sphere. These are the people that want to send you business, the people that do send you business, the people that you wish would send you business: friends, family, coworkers, former coworkers, loan officers, professional network, etc. All the way down to maybe the people you go to church with, etc.
The goal of targeting people in your sphere is to constantly remind them, “You = real estate agent.” Jed equals real estate agent. Jed equals real estate agent. The science says that if they’ve been exposed to that message, which in this case is in the form of an advertisement, between 7 and 20 times, it becomes nearly impossible for them to forget that Jed equals real estate agent.
What that does for you is when that moment comes, and it inevitably does for all of us, and they’re at the children’s birthday party and their friend of a friend leans over and says, “We’re thinking about moving. Do you know any good real estate agents?” Guess who pops up top of mind and becomes the first one out of their mouth. Jed. That’s right.
That’s why this is the most important. It’s where most of your business comes from, and it’s the least expensive business to get. You should be spending time here.
The second one is, we’ll call it the “Warm Leads,” and we’ll call this number two.
The warm leads are the people that are coming to your website, which means they’re interested not only in real estate, but they’re already interested in you. Right? So that’s one, two, punch right there. But what happens is only two percent of them, a very small percent convert on their first visit.
Convert means fills out a form, picks up the phone to call you, leaves their name and number, buys a property, whatever it is they do. So what you want to do is you want advertising that follows this group of people, this audience around the internet, on their Facebook page, and you do this through something called “Retargeting.”
You put a little line of code, pixel, tag, cookie, these are the synonyms for that, but it’s a line of code, one line on your website, and now you have the ability to follow website visitors around the rest of the internet that they go to when they’re not on your website. Really, super affective. Some stats that are kind of mind blowing about retargeting.
I’ll give you my favourite one. When you retarget somebody, for four weeks, they are ten times, 10x, more likely to do a branded search for your name or your firm. Let me make that specifically clear. They come to the JedCarlson.com.au real estate website, my website, and they leave, but I retarget them with ads for four weeks. There is a ten times higher probability that they’re going to go into the Google search box and type “Jed Carlson real estate” and try to find me again.
The other cool thing about retargeting is it has a halo effect. When you retarget people, it actually improves all of your other marketing channels and not by small amounts. Recent data says that it makes email marketing 61% more effective. That alone is worth the price of retargeting.
Now, you’re preaching to the choir, all the people that should be sending you business but sometimes forget to. You’re making sure to take the biggest advantage you can of the people that you’ve worked so hard to get to your website. You’ve made your website awesome. You’ve invested in it. You’re putting content there. You’ve got listings there. You’ve got a great “About Me” section. Don’t waste it on those people. Bring them back.
The final, third dollar that I would spend we’ll call “Prospects.” These are people that don’t know you, but you would like them to, so the goal here, this is the triangle, is top of mind awareness and Adwerx we do this through something called “behavioural retargeting.”
I know this terminology can be confusing because over here I wrote “retargeting,” over here I used the word “retargeting,” but when you put the word “behavioural” in front of it, what it means is finding an audience, not based on them visiting your website, but based on them doing other online behaviours like maybe visiting other people’s websites.
For example, you may want to target people in your local area who have recently been looking for houses online or using a mortgage calculator, or researching moving companies. That’s the type of behaviour that Adwerx ads are trying to find. So we find the people who, through their behaviour, are in market, and that live in a specific postal code. In this case it’s called 2905, and when they are those two things, we try to show the ad to them.
Again, you can think of these as one, two, and three. You can think of sphere as the centre of the bullseye and then your warm leads is the next circle and your prospects is the next one. It doesn’t really matter to me, exactly. I’m trying to build mental models for you about how to design a really great marketing and advertising campaign.
So that is digital advertising audiences in a nutshell.