Mortgage Marketing Animals Issue 3


We spent a total of $28,320.11 on Facebook ads for one campaign in a single month. Here’s what we learned. This month’s article builds upon what you learned last month to help take your Facebook and Instagram targeting to the next level. Last month, I guided you through the process of focusing on

to be able to tell the difference between all these different people. Over time, it will show our ads to only the people interested in a mortgage within the next 90 days. This is where our $28,320.11 in ad spend becomes helpful. It allowed us to create this process for you. What we did inside our account is ran one campaign and then chose a broad audience of people interested in our topic. Then we checked the total audience size — the total number of people Facebook can reach based on our targeting choice.We picked a daily budget inside the first ad set and started getting estimates on the maximum reach we could get without letting Facebook waste our budget. (They give you a graph to help figure this out.) Our estimate told us that we could reach about 10 percent of the total audience with one optimized ad set. That means that when we run that ad set, Facebook is really only showing our ads to 10 percent of the people who could be interested in mortgages.We lose 90 percent of our potentially good leads by only running one ad set! So we took the exact same targeting and duplicated it into 10 ad sets. This part is very important. We then launched the one ad campaign with 10 identical ad sets at the same time. This forces Facebook to show your ads to everyone in the potential audience, which means that all of the good leads that are interested in mortgages will see our ads. Then we wrote very specific ad copy so only people who would be interested in our offer would click on the ads. A good test for you to run would have the headline, “Important Mortgage Rate Info!” The body of the ad would say, “If you have been qualified for a mortgage in the last 30 days or are thinking about it, you are going to love our brand-new, online mortgage quick-quote tool. Find out how much you qualify for and what rate you can expect to pay. No charge and no obligation.” Then, don’t just let anyone opt in. Make the people who clicked on your ads jump through hoops before they can input their name, phone number, and email and become a lead. Inside our survey campaign, we make them answer detailed questions. “How much are you looking to borrow? How soon are you looking to get your loan? What do you think your credit score is? How much down payment do you have saved?”

your warm audience and the traffic that is going to be most receptive to your offers. The benefits of this strategy include getting more referrals from past clients, more Realtor referrals, and warm audiences built on the 1 percent of people who match your past clients. This month is all about scaling your campaigns to the most profitable traffic that exists in Facebook and Instagram cold audiences. This is where you are going to adjust your campaigns and find longterm success that you can expand into other markets. You see, not all traffic on social media is relevant to your business. There are very narrow groups of people who have excellent credit, are in the market, and need a mortgage. These people are willing to fill out a lead form and work with someone they found on Facebook or Instagram. The problem is that they are incredibly difficult to find. Here’s how to locate this group. Disclaimer — this process is an investment of time and money. You can expect the process to take 60–90 days if you are investing around $1,000 per month in ads. You will still get good leads through the process, but the noticeable difference is at the end. We need to start by understanding that Facebook lumps all people into the category of “interested in mortgage” when they visit credit- and mortgage-related sites or interact with businesses on Facebook that offer these services. Take as an example. Yes, people going to that site could be looking for a mortgage. But they could also be looking for a line of credit, credit card, or savings account, etc. So, Facebook categorizes them as interested in mortgage when that might not be what they are actually looking for. It’s up to us to train the Facebook algorithm inside your ad account

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