EP 434: Facebook Ads for Real Estate w/ SilverStreet Marketing

00:00:00:00 – 00:01:11:25

Kiley

I don’t want to pay an agency. I think I can figure this out. And like J.T. said, you can totally can. But I think some people underestimate the consistency of effort that it’s going to take because, you know, creating an ad on Facebook is not super hard. You have to learn a little bit inside of ads. Manager But but creating a really good ad and then getting those things to consistently perform over time is really where the magic comes.

00:01:11:29 – 00:02:40:28

Kiley

Thank you. Super stoked to be here. We love paid ads.

00:02:45:06 – 00:02:46:04

Kiley

JT Go ahead, man.

00:02:47:00 – 00:03:18:20

JT

Yeah. So when you’re looking at the the ROI that’s coming from it, typically what we’re seeing on Facebook is we’re seeing a cost per acquisition in between about a 3000 to 3500 on average is overall cost per acquisition. Depending on areas, you can kind of lower that down to about around a $2,000 mark. It just kind of depends on a couple moving parts that could be things like are you paying for management, How aggressive are you in your area?

00:03:19:06 – 00:03:45:17

JT

Are you employing different types of tactics, not just lead generation like branding and and trying to become more of a powerhouse in your area? So there’s a couple of things that will affect that. And can kind of change that cost per acquisition price. But most investors that are coming on for management are sitting around that, you know, you could probably say about 2000 to $3000 cost per acquisition marker per deal.

00:03:46:03 – 00:04:09:18

Kiley

Yeah. And to to, to break that down maybe just a little bit more basically to get that cost of acquisition, you’re looking at your cost per lead, right? And then the number of leads it takes to close a deal. So on Facebook, we see probably right around an average of 20 leads per deal. Would is that wouldn’t you agree?

00:04:09:19 – 00:04:11:20

JT

JT Yeah, yeah.

00:04:12:29 – 00:04:41:05

Kiley

Yeah. About 2020 leads per deal. So depending on what your cost per lead is and then depending on your on your close ratio. So one of the things we find that’s, that’s most important when doing Facebook ads is having a really strong follow up system. So if you think about lead generation in terms of each channel you’re using, you’re going to be finding potentially different people.

00:04:41:05 – 00:05:03:09

Kiley

A lot of the same people. We can talk about that a little bit more, but you’re you’ll find people at different levels of readiness in their decision making process. And with a PPC ad, for example, you have someone that is actively searching for I need to sell my house fast so that person is in this mode of problem solving.

00:05:03:14 – 00:05:43:00

Kiley

On Facebook, we one of the one of the powers of Facebook is that you can find people who are potentially not quite that far in the in their decision making process. Yet the benefit of that is you’re getting in touch with them before they start shopping investors. The challenge with that is you have to be ready and able to nurture that lead so that that follow up system really matters in the frequency of the follow up and the quality of the follow up because your lead time from lead capture to lead close maybe a little bit longer.

00:05:43:00 – 00:06:21:02

Kiley

Now that varies. We have people who start running ads in within 2 to 3 weeks close the deal. So it’s kind of, you know, there’s that full spectrum, but you. Yeah. So I’m yes, I mean, yes, on the Facebook stuff, but I’m talking more specifically about your non Facebook follow up. So text messages, emails, phone calls, you know, you’ve got to be you’ve got to be contacting those leads right away.

00:06:21:02 – 00:07:05:10

Kiley

You need to be following up with them frequently and often and and putting them in an in a nurture sequence to get them towards the the close. Well, I mean, Facebook ads have been effective for many, many years. There’s like a kajillion people on Facebook still even though even though it’s now kind of an older social media which is wild to think about the demographic of users on Facebook skews older.

00:07:05:10 – 00:07:35:11

Kiley

So that fits well with the the typical, like high equity homeowner or someone that would would own a home and be potentially interested in selling. But specifically I think the opportunity right now. Brady you touched on this a little bit earlier. There have been a lot of changes on Facebook. So the iOS 14 change was huge. That dramatically impacted audience sizes and the ability to track conversions and things like that.

00:07:36:02 – 00:08:01:19

Kiley

But then not too long ago there was another update with a a settlement with the HUD where they they changed targeting options a lot. I mean, and we did it we did a video on this as well with you that talking about how talking about how you can’t use lookalike audiences or special ad audiences in real estate anymore.

00:08:01:20 – 00:08:41:21

Kiley

Now that was like that was one of the I’ve been I’ve been marketing on Facebook since 2007 and that was one of the biggest changes I’ve ever seen Facebook make. And the result of that is a lot of people have said, I don’t know how to do this anymore or I’m going to give up on Facebook and I’m talking like individual investors, but also some of the other like agencies that we we know of have really stepped back because they didn’t want to try to figure out how to how to work through it.

00:08:41:21 – 00:09:18:03

Kiley

So the benefit there is the eyeballs are still on Facebook. So if there’s less people competing for those eyeballs, you have an opportunity as well.

00:09:18:03 – 00:09:32:01

JT

And that’s that’s a lot of what we’ve seen. It’s just that that feedback there is that people are using Facebook is exactly that. You want to stay away from those demographics because that’s going to limit that’s going to help you get your targeting more and more direct. So you’re 100% right on.

00:09:32:24 – 00:09:59:03

Kiley

Yeah. And the other thing the other thing to remember is that Facebook now called Meta, you know, they changed their name to Meta. They they own Instagram as well. And then they have their their own ad network, which is similar to like the Google ad network. So when you’re running ads through the Facebook or the meta ads manager, you’re you have a ability to run ads across many other places, too.

00:09:59:03 – 00:10:29:00

Kiley

So your ads will show up on Instagram. Your ads can show up in mobile apps as people are using, you know, if someone’s scrolling and playing a game or whatever, like your app, your ad could show up in that as well. All through that Facebook ads manager Yeah, And also I just think some people kind of think about, you know, I’m going to run Facebook ads.

00:10:29:00 – 00:11:00:09

Kiley

They’re thinking of just the one like in feed ad, which you know, that is a big part of it. But just I think it’s helpful to remember that you’re actually putting your ad in a lot of different places.

00:11:00:09 – 00:11:00:18

Brady

Yeah.

00:11:02:16 – 00:11:24:24

Kiley

I’m totally fine with that. We I don’t ever call it meta because I feel like most people don’t know or like you. Brady Like we haven’t, like, collectively accepted that that’s what it is. So if we you know, if we if we hop on the phone with someone and we’re like we’re experts at meta ads, they’re not going to know what we’re talking about.

00:11:24:24 – 00:11:38:00

Kiley

So, yeah, we’ll call up we’ll call up Mark Zuckerberg. We’ll see what we can do.

00:11:38:00 – 00:12:13:11

Brady

Yeah, you bet.

00:12:13:11 – 00:12:34:00

JT

Yeah. You know, when someone’s, you know, running ads on their own or debating about running ads on their own, there’s a couple of things that we kind of, you know, you have to think about and consider. One is, you know, time. I mean, this is a conversation I have a lot and most investors I talk with, you know, when we have this, we’re talking about ads and learning how to do it.

00:12:34:00 – 00:13:11:22

JT

I really say, you know, anyone can learn, but do you have the time or do you really have the desire to do it? Because if where your desires lag, you are like out in the field, you know, talking to the leads, like getting the contract signed and closing the deals, then that’s a job in itself. And to add on the marketing side of it, there’s there’s a lot that goes into that, you know, in terms of, you know, being on there weekly, watching all the data, thinking from a different type of mindset of a data data mind set of, okay, how is this affecting the algorithm versus how is this affecting my business?

00:13:11:22 – 00:13:30:01

JT

And you kind of have to walk through those different steps at different times while you’re making these changes. So the first thing that we always kind of talk about, if someone is interested in doing it themselves, you are totally capable. You can you’re smart enough, you can figure it out with the right direction, but do you really want to long term?

00:13:30:01 – 00:13:51:22

JT

Is that really going to be what’s best for your business? And everyone’s at different places, so for some people it will be for others. An agency might be a better spot to lead. And when it comes to agencies, there’s a couple of things we have to we have to think about. One is going to be your strategy. What type of strategy they’re using?

00:13:51:22 – 00:14:14:15

JT

Are they focusing purely on your top of funnel? And, you know, that’s pretty typical for most like average Facebook agencies, especially in the last couple of years, a lot of people have geared towards spending 90% of your budget on a broad, no targeting because you’re in real estate and it’s really hard to target people. And then 10% of your budget on your retargeting.

00:14:14:15 – 00:14:37:17

JT

And that’s kind of what they do. I would say that’s not a really thought out process because there are still ways that we could target. There’s still ways that we can filter out our top of funnel, middle of an Obama funnel. It just takes a lot more time and effort and management. So when you have the right strategy in place, that’s going to obviously affect your your leads.

00:14:37:26 – 00:14:56:00

JT

And then second, when it comes to an agency, the next thing you want to consider is how well do they integrate with your team? Because one of the biggest things I hear people talk about when they had a bad experience is, you know, I kept getting bad leads. I wasn’t able to like, communicate with anyone to tell them that, and it just wasn’t working in my business.

00:14:56:00 – 00:15:22:00

JT

And I’m sure if you went over to the agency and talked to them, they’re like, Well, all the leads we were driving were like $10 per lead. It was like a crazy. They were our best account, you know? And so you really need a good team work when you’re working with an agency, a really good team connection and one of the one of the best ways to do it, I tell everybody, even if you manage your own ads or you’re managing with an agency, one of the ways that you can fix this is use UTM parameters on all your ads.

00:15:22:14 – 00:15:40:04

JT

And then that way you can see exactly what AD drove, what lead, and then you get the feedback from in our case, from our client. And and we say, okay, tell us the leads that were the best leads. Okay, There are these people, these names. All right, awesome. So these these names have these UTM parameters attached to them.

00:15:40:04 – 00:16:03:11

JT

So whether you know that the iOS 14 came in place and we tracked it or we didn’t track it, we could manually track that and say, okay, this is where it came from. So now we know that these are our best ads in terms of motivation, and this is how we’re going to scale your results, even if it means we’re spending a little bit more per lead or we’re spending a little bit less, it’s more trackable and it’s going to give more tangible results.

00:16:03:11 – 00:16:12:00

JT

So those are a couple of things. You know, we have a discussion with clients. We’re talking about agencies doing it yourself or, you know, browsing the market.

00:16:12:20 – 00:16:40:25

Kiley

Yeah, that that feedback loop is critical. Whether you are working with an agency or you’re doing it yourself. Obviously the feedback loop with yourself, not really a loop, but but tracking that information and knowing that is important. And like JT said, that’s something a lot of people miss, which is paying attention to patterns in your leads and which which campaigns, which ads are generating the best leads.

00:16:41:24 – 00:17:10:13

Kiley

And if you’re working with an agency, you want to be feeding that information to them. I have two analogies I think of when it comes to doing it yourself versus working with an agency. And one of those is like hiring a personal chef. So if you hire a personal chef to make your meals for you, the reason you’re doing that is because you don’t want to you don’t want to take the time to shop and cook and think about what you’re going to eat.

00:17:11:21 – 00:17:29:10

Kiley

Maybe you don’t think that you can cook very good. Doesn’t taste very good, right? So you hire a professional chef. You’re you’re still going to be very engaged with that chef. If you if you hire a personal chef, like if he makes a meal that you don’t like, then you’re going to tell him or her about that. Right?

00:17:29:10 – 00:17:51:15

Kiley

Or if they make when you love, you going to say, well, I do that one more often, or you may even have requests, you know, like I, I’m craving this or whatever. So that, that even though you’ve outsourced that work, you’re still involved in, in guiding that, you know. And then let me let me give you one other analogy as well.

00:17:52:00 – 00:18:16:11

Kiley

The like fitness analogy. So because I think we see this a lot with people in who think who want to do DIY. So you go to a personal trainer and you say, Hey, I want to get ripped off. And the personal trainer starts with starts listing out all the things you’re going to need to do to get ripped.

00:18:16:26 – 00:18:38:20

Kiley

And it’s like, you know, you’ve got to like follow a you got to count your macros, you’ve got to do these certain kind of workouts, you’ve got to work out this many days a week, etc., etc.. And you’re going, I, I just kind of wanted to get ripped like, yeah, can I just get ripped? And I think that happens with the DIY side.

00:18:39:15 – 00:19:02:15

Kiley

The idea of like, Hey, I don’t want to pay an agency, I think I can figure this out. And like JT said, you can, you totally can. But I think some people underestimate the effort that it’s going to take, the consistency of effort that it’s going to take because, you know, creating an ad on Facebook is not super hard.

00:19:02:17 – 00:20:03:08

Kiley

You have to learn a little bit inside of ads. Manager But but creating a really good ad and then getting those things to consistently perform over time is is really where the magic comes in.

00:20:03:08 – 00:20:31:11

JT

And so what is diving into your seller interests? Obviously, you know using seller interests can help be kind of a bridge between your broad just going to anybody and then going to a more interest based audience that could be interested in things that you’re offering based off of what they’re looking at and browsing online. So that’s still capable of being used and that as well, the custom targeting of using custom lists.

00:20:32:00 – 00:20:56:10

JT

So we can still use lists that we’ve uploaded for like retargeting purposes. And so using those to our advantage. And basically I mean we talked about this in last video, but the combination of what type of media we’re using to help filter out what type of motivation that we’re getting on these and then also the targeting in place.

00:20:56:10 – 00:21:25:15

JT

And then lastly, you know what we just kind of touched on using manual like feedback, like UTM parameters to be able to give us really good feedback on what’s actually working. Those are kind of been our go to options to be able to continue to get consistent results for investors, even though the landscape of the ads are changing, you know, and and that’s just kind of the nature of any platform is over time.

00:21:25:24 – 00:21:50:05

JT

It’s always the landscape is going to change a little bit. But as long as our type of seller that we want is located there, we’re going to be able to find a way to get in front of them. We just have to change up the strategy a little bit to do it. So that’s that’s some of the things have consisted of of changing that strategy.

00:21:50:05 – 00:22:24:20

JT

Yes. So there are like equity interests, so people who are doing like reverse mortgages, people are interested in their their own equity types. There’s like Facebook interest. So like for sale by owner interests, they’re going in through like Zillow and doing for sale by owner stuff. There’s a couple of different things when it comes to like, like debt consolidation or real repairs on your house as well as like overall lending purposes.

00:22:25:15 – 00:22:53:12

Brady

So you’re pickleball anymore.

00:22:53:12 – 00:23:20:18

JT

Yeah. And a lot of that is due to, you know, with all this changing that’s been going on in the real estate industry, specifically, there’s a lot more of like how we have to think that these people are showing motivation inside those interest categories and then combining that with the type of media and the type of copy that we’re using to really be like a hard trigger to filter people who are not going to be interested and filter those, that will be because Facebook is still an algorithm.

00:23:20:18 – 00:23:39:20

JT

I think a lot of people forget that. That’s really what we’re working with, is not, you know, we’re not in an auction like PPC where we can say these are the type of words we bought. This is how much we’re willing to pay for it. We’re with an algorithm. And that algorithm primarily focuses on one, how many impressions they’re able to get out of the audience that we’re running.

00:23:40:15 – 00:24:00:27

JT

So impressions being the ability to have your ad loaded to a cue, that’s when Facebook charges you. So it charges you per impression. It’s not per view, it’s not per click. And then second is it’s going to prioritize engagement. So we understand that we have a really good buy hard filter ad that when somebody is going to be interested, they’ll click it.

00:24:00:27 – 00:24:17:08

JT

They’re not at all going to be interested. They’d make sure that they go past it. Facebook recognizes that, and they’re going to start to understand who’s actually clicking. But the other thing they’re going to see is the more engagement we’re getting, they’re going to start to raise us up in the ranks on the feeds. So it’s costing us less money overall.

00:24:17:17 – 00:24:42:03

JT

That’s why a lot of people who only run ads for like 60 days, they don’t make any changes to it. They just publish an ad, they launch it, they don’t see any results versus somebody who runs it for, you know, 3 to 6 months and they’re in there making biweekly changes are going to see consistent deal flow. So that’s one of the reasons, just because the way that the platform has been made, you know, what we’re working with is very different than other ad platforms that you may be buying.

00:24:42:04 – 00:24:45:05

JT

Media.

00:24:45:05 – 00:25:40:15

Kiley

So one other quick thought there. So over the years, Facebook has made updates to what advertisers and marketers, what information we’re able to use to in our targeting. You know, there have been like you could use to target around lots of different things like income and and yeah well there’s lots of examples in there but as yeah some of that some of that you can still do but the the as Facebook has grown they’ve made updates to some of that and you know some of that is a win for consumer privacy and and those types of things because unfortunately there are bad actors out there that use information for discriminatory practices or whatever.

00:25:41:15 – 00:26:17:21

Kiley

But so part of what’s been so important, I, I started marketing specifically for real estate investors in 2016 and I had previous to that spent a lot of time marketing in other industries, spending several million dollars a year in Facebook ads. And what what I found is any time Facebook makes a change, we we just have to be willing and ready to go in and make a couple of adjustments and continue to test and optimize, kind of like JT was saying.

00:26:17:21 – 00:26:40:11

Kiley

So if one of our targeting, one of our interest based targeting got cut, then we’d go in and like JT said, we’d, we’d have to get creative and say, okay, what else could we think about that might connect to that person? But in a, in a different way. And yeah, and so that’s what we, that’s what we can continue to do.

00:26:40:20 – 00:27:27:01

Kiley

And I think that’s what is difficult for people who aren’t investing the time or energy to know that or if they if they just have a really simplistic strategy, if something in that changes, it’s difficult for them to adapt right? Yeah, it’s.

00:27:33:14 – 00:27:52:17

JT

Yeah, yeah. We definitely talk a little bit about that. So when it comes to copy, typically, you know, what we’re doing here is we’re doing a lot of testing over and over again just because we really want to see what is getting the most valuable clicks. So there’s a couple different things that we do when we look at creating copy.

00:27:52:17 – 00:28:22:29

JT

So one is we’re looking at short form copy and we’re looking at long form copy. So we’re seeing what are going to be the differences between having just a short, you know, 1 to 2 sentence copy piece versus having something that’s, you know, 5 to 6 sentences. And then we’re also testing different things like adding in bit.ly links inside that copy, adding in emojis inside that copy, and then kind of switching out some of our our main triggers, which would be, you know, like get a cash offer or sell without paying for any fees or repairs.

00:28:24:02 – 00:28:52:04

JT

Right now, typically what we’re seeing and this kind of change is per market. So, you know, obviously you have to test and figure out what’s working for your audience. But a lot of what we’re seeing is kind of that that. Sure. And we’ve gone back to that shorter copy has been working really well with direct triggers, right, like hooks right at the beginning of sell your house without pay for a yell, fees, repairs on your home and things like that have been working really well.

00:28:52:04 – 00:29:07:29

JT

I think part of that is because of market shifts. So you do have to understand, you know, because that market people are starting to now realize the traditional real estate market right there, they’re usually about six months behind. They think they could get one thing for their home and that was six months ago, is what they could have sold it for.

00:29:07:29 – 00:29:28:00

JT

So they’re kind of in that point where they’re starting to realize it’s hard to sell a house. And so those things are starting to stand out a lot more and then add in some personal customized like situations or different things. So we always suggest to two people who are running their own ads or to our clients to give us stories that we can also include in those types of copy.

00:29:28:08 – 00:29:52:11

JT

That could be it’s like, you know, so and so, yeah, we help so-and-so move out of their house when they were, you know, facing foreclosure or, you know, whatever that situation might be to kind of give some more context to the person. So we’re testing all these different things inside these accounts to try to figure out what works for every single client, because really, that’s that’s what we’ve seen.

00:29:52:11 – 00:30:12:07

JT

The best way to do it is we look at those metrics and then we make decisions based off of that because it it’s going to change per person per area because everything’s based off of engagement. And in an area they could get different engagement than another using the same message. So and that would then hurt those ads in the area that’s not getting the engagement.

00:30:12:07 – 00:30:13:12

JT

So a lot of.

00:30:51:20 – 00:31:21:16

Kiley

Yeah, engagement matters. It’s part of the quality score that Facebook uses to determine an ads relevance. So Facebook keeps a pretty tight lid on exactly what that recipe looks like of how important eat. At one point I had I got access to this internal spreadsheet from Facebook that had like a weighting system of, you know, abuse complaints, comments, etc., But it’s old enough now.

00:31:21:16 – 00:31:54:00

Kiley

I don’t I think it’s probably no longer relevant, but so the quick answer is engagement matters because if Facebook feels like the ad is engaging, they’re going to show it to more people. I you know, I think it’s important to take a step back and think about what is Facebook’s overall goal, their overall goal is to keep us users on the platform as long as possible so that they can show more ads to us, so that they can they can charge advertisers for showing those ads.

00:31:54:00 – 00:32:16:19

Kiley

Right. So if Facebook thinks an ad is going to help with that, then they’re going to they’re going to continue to show that that that is in combination with Facebook’s algorithm looking at who’s most likely to take the action that you want. So we strongly, strongly recommend that anyone running Facebook ads is paying attention to the engagement on their ad.

00:32:17:05 – 00:32:38:19

Kiley

And that’s important for a couple of reasons. One is if if someone comments and then you engage with them, it continues to feed that also just from a from a like social psychology perspective, if the ad has engagement on it and they can see you engaging, that’s going to encourage more engagement and it’s going to create some social proof as well.

00:32:39:15 – 00:33:00:00

Kiley

And then the last you know, the other one would be there’s a good chance you’ll get someone that comments something on there that is like you could see it skews negative. So it’s something like, Oh, yeah, yeah, right, I’ll sell you my house and you’ll give me pennies on the dollar. Or I bet this is a scam or something like that.

00:33:00:13 – 00:33:21:23

Kiley

And the opportunity there is twofold. One is to feed that engagement out that that that side of the algorithm on engagement by responding to that person. But the second part of that is you get an opportunity to answer that person’s question and explain and other people are going to see that. So we will get comments like that is an opportunity.

00:33:21:23 – 00:33:48:28

Kiley

It’s an opportunity for you to jump in there and say, hey, you know, totally understand what you’re saying. What we offer is isn’t best for everyone, but for some people it’s a great. So whatever you’re going to say, you know, whatever your your pitch is there. And and the only time I’d ever hide a comment is if it was just like, totally spam or like really belligerent or something, you know, other than that, take that opportunity to engage, have that conversation.

00:33:49:04 – 00:34:00:27

Kiley

Facebook has become much different than it was originally, but it’s still a social platform, right? It’s it’s intended to connect people again because they want us to stay on there as long as possible.

00:34:01:16 – 00:35:28:25

Brady

At Yeah.

00:35:28:25 – 00:35:47:18

JT

Yeah. There’s a you know, I think Gary came out with this. I want to say like six months ago he released this where he was like his entire ad strategy was changing to you. First start organic and see what gets the best. Like proof that it would work and then take that style of ad and run it as a paid out.

00:35:48:24 – 00:36:13:15

JT

And you know, something that we can sell our clients with is is similar in the sense that we’re trying to get very transparent and honest content. So things like face to face videos, talking about situations in which they’re helping sellers, you don’t have to have the seller with you. You can I think that’s great what you do. But instead of just getting like a review from the seller that says, Yeah, it was great, you know, they bought my house for cash, that’s good.

00:36:13:15 – 00:36:43:08

JT

But you can go even better and you could talk about situation and give give those details. They’re a little bit more intimate, transparent and honest. And oftentimes that’s going to attract an even more motivated person because they connect with those things. Yeah. When you talk about someone struggling through foreclosure and that you able to stop it, you know, two weeks before they lost their house had all this damage done to their credit, all of these, you know, negatives and you’re like, but they put cash in their pocket.

00:36:43:08 – 00:37:09:19

JT

They’re able we were able to to arrange it so that they could leave on their timeline. And, you know, now they’re off in a better place all of a sudden, like that’s going to appeal way more to somebody. So I you know, that’s a big thing where video is really starting to come back is content. You had a switched couple of years, like probably about a year or two back switch to images again because they changed that some of the rules around how much headlines you can have on images.

00:37:09:19 – 00:37:22:29

JT

So everyone went back to advertising images, but now we’re back to videos. And those type of stories are just mixing really well with videos. So that would definitely be something that we would suggest to all of our clients and anyone who’s doing their.

00:37:22:29 – 00:38:11:02

Brady

Own Facebook ads.

00:38:11:02 – 00:38:30:03

JT

Yeah. And it changing your the way that you run your ads to you. I mean, one thing that we do is we use dynamic, creative, and that helps a lot in how we’re actually running and operating these ads and figure out what’s working best because we’re not having to do so much split test, which can test great because it gives you a definitive answer.

00:38:30:03 – 00:38:54:04

JT

But oftentimes you could spend more money in trying to find the answer than it is worth it, because then you have to test again and again and again. Whereas when you’re running dynamic creative tests that automatically that basically the your budget is shifting towards what’s actually getting the engagement. And so we can keep adding to that test over and over and over again, proving the results and getting the best options that can be in that ad.

00:38:54:14 – 00:39:13:00

JT

So that’s another thing I think a lot of people kind of forget about is is using dynamic, creative.

00:39:13:00 – 00:39:41:27

Kiley

I guess this whole everything I’ve said on this podcast was written by chatty people. I I’m just typing it in as you guys see it. And I’m like, okay, you know, it’s interesting than like a chat. GPT it I mean, air is powerful and it’s going to, it’s going to change things for sure. I, I don’t know to what level or how good it will get.

00:39:41:27 – 00:40:11:18

Kiley

I mean, as of right now, I think the best way that someone listening to this podcast could leverage chat would be to grab some ad copy that you that you’ve seen that that you thought was good and go in and you have to work with chat, you have to prompt it a little bit but basically have it write some variations of that and, and then I would and I’ve used this to do that, right?

00:40:11:20 – 00:40:30:23

Kiley

I for me, one of the best values of Chatty Betty right now is like my first draft of a lot of things because then I can take it and I can kind of iterate it and make sure that my personality is still in there or the personality of the brand and the customer that we’re working with. But if you’re just like, Man, I need I need some help coming up.

00:40:30:23 – 00:40:54:26

Kiley

Like, I don’t even know where to start. Just you could go to chat GPT and say, write an ad for a real estate investor on Facebook that wants to buy a house that is in foreclosure. Whatever. Yeah. And just let chat, chat, start, start going to work for you. I think that’s probably the best way that someone could use it right now.

00:40:54:26 – 00:42:10:07

Kiley

I think in the future we’ll see tools that are built that allow us to and some of this already exists a little bit, but where we can feed it content that we’ve written in the past so that it will get better at writing things in in our style, which, you know, that that then makes the output even more powerful.

00:42:10:07 – 00:42:11:10

JT

Actually, a couple of them.

00:42:11:26 – 00:42:13:09

Kiley

I’m not sure which one.

00:42:14:12 – 00:42:15:04

Brady

I.

00:42:15:04 – 00:42:15:29

Kiley

I, I don’t think I.

00:42:15:29 – 00:42:16:27

JT

Have that one.

00:42:17:13 – 00:43:03:21

Brady

Right. Yeah. Yeah, yeah, yeah.

00:43:03:21 – 00:43:51:09

Kiley

It’s interesting and it’s important to remember that this, these things are language models. So what they’re designed to do is to mirror language that they’ve been taught to provide a response or an answer. So what that, what they’re not necessarily designed to do is to follow a logical decision making process to reach the conclusions that they reach. So if you’re going to use it to discover information or to write information, there’s there’s definitely a chance that some of that information is not accurate because its goal and it’s going to it’s going to take what what you’ve it with into consideration as well.

00:43:51:09 – 00:44:33:00

Kiley

So this is a whole nother like a whole nother interesting conversation. But there’s there are people now called prompt Engineers and their their role is to learn how to ask the AI the right questions in the right way to get the right kind of response. Pretty fascinating. I yeah, it is right now it’s yeah, for sure. I think I just want to say one of the things so why is that?

00:44:33:00 – 00:45:04:26

Kiley

I don’t know what the future looks like. I think I will get I think we will see all over in the marketing world. So there will be aspects of, of mining jobs that that get taken over by AI. But I think what will always remain is the need for the human empathy of understanding who you’re talking to, what their problem is, and how you can connect with them and and present your solution to them.

00:45:04:26 – 00:45:33:23

Kiley

And and that is, I mean, at the core, the the specifics of marketing change dramatically. You know, I mean, I can imagine the way we feel about AI right now is probably how people felt when TV was invented or the radio is going like, whoa, this changes everything. And but the principles of good marketing remain, which is you got to understand who you’re talking to.

00:45:33:23 – 00:46:30:28

Kiley

You got to you got to understand their need and you got to speak to it. And if you provide value to them, then they’ll be interested in engaging with you or talking to you.

00:46:30:28 – 00:47:14:19

Brady

Yeah, yeah. Hmm. Yeah.

00:47:16:05 – 00:48:02:03

Kiley

Interesting. Yeah, yeah, yeah. That’s yeah. I mean, that the reality is we crave connection as human beings where, you know, call us pack animals. We crave that connection. And, and so I certainly think as we get more and more digitized, I mean, there are studies now that show that even though we have tools that connect us better than ever before, like on average, we’re lonelier and feel more isolated than, you know, generations before us.

00:48:02:03 – 00:48:20:27

Kiley

So I think I think there’s there’s got there’s some truth in there for sure that people crave that connection. And and and there’s there’s always that opportunity to be a real person that’s interested in really connecting with people and really solving problems.

00:48:20:27 – 00:48:55:21

Brady

Yeah. Hmm.

00:48:55:21 – 00:49:26:06

Kiley

Yeah. I mean, I got a couple and then I’m sure JT might too, but this might sound really, really basic, but it’s so critical and we see people miss it, which is just make sure that you are investing the time to set things up correctly. So if you don’t put your pixel on the website and set up your conversion event correctly, then your waste, your waste a lot of money on Facebook, you might still get some leads, but it won’t be feeding that.

00:49:26:06 – 00:50:03:07

Kiley

It won’t be feeding your pixel data. You won’t necessarily know where they’re coming from. So you got to you got to make sure you have that that setup done well. And then the other thing I would say is, well, yes, but that’s only part of it. So when you set up a Facebook ad, you’re going to put your pixel on your website, but then you’re going to have something on your website.

00:50:03:08 – 00:50:42:12

Kiley

Tell that Pixel that the conversion event that you’re looking for happened. So like on a carrot Web site, when someone clicks, submit on, you know, enter my property address or whatever, they click submit and then it takes them to that next page. Your pixel data should be telling Facebook that that person took action. And the reason that matters is the pixel is looking to see if your ad is getting the action that you want it to have one so they know whether it’s relevant to people and to so they know how to continually optimize that, to show that to the right people.

00:50:42:12 – 00:51:17:09

Kiley

So if your pixel is not configured correctly, you’ll see like a little you’ll see little errors in Facebook. That’s like, Hey, the pixel is not getting any data for this conversion event and that that impacts that impacts the algorithms ability to like build and gain like flywheel momentum so that. Oh that’s right. That’s right. Yep, that’s right. And then and then like you said, yes, you can retarget that traffic which is, which is super awesome and you should be doing that.

00:51:17:15 – 00:51:24:17

Kiley

But yeah, you’ve got to have that conversion piece set up correctly.

00:51:24:17 – 00:51:48:26

JT

Well I was gonna say that to test I think, I think a lot of people, you know, we kind of mentioned you have to give it the time and part of that is just consistently testing. Don’t ever think that just because you know you find something that works that you can just stop because we’re talking about a platform that changes all the time and change it, you know, changes as your results are coming in.

00:51:48:27 – 00:52:08:15

JT

So you start having something you never want to just like all a sudden enter into something slow because you haven’t been staying up all on your changes. So just consistently testing, keeping a beat, the alchemy, keeping a feel on the beat of the of the market as well, like not just in real estate but on the Facebook ads side of things.

00:52:08:15 – 00:52:16:05

JT

Just understanding what you need to do to stay on top of it. What the algorithms feeding and now help you be more successful.

00:52:17:08 – 00:52:26:13

Brady

Yeah, yeah.

00:52:30:28 – 00:52:32:03

JT

Yeah. Just just I.

00:52:32:03 – 00:53:14:16

Kiley

Mean, the answer is yes. Yeah. We test. I mean, from a visual, creative perspective, we test so many different variations. You know, we have text on the images. What color is the text, What size is it, where is it located? Does the text have a shadow on it? So you can. Yeah, the answer is yes. Test. And, and we kind of talked about this a little bit earlier, but I think the other piece I’d add, maybe just as a little bit of a repeat is really consider what you want to invest time and money wise and that will help you decide the best way to approach it.

00:53:16:12 – 00:53:43:09

Kiley

If you are going to put the time in to learning how to do it yourself. That’s why JT said it’s totally doable. There’s lots of education out there. In fact, we we have a course that’s available in the current marketplace that basically teaches everything that we know and do on a Facebook account. It’s several hours long. So it takes it takes commitment to to want to do that.

00:53:43:09 – 00:54:10:26

Kiley

And then part of what we’ve realized over time, you know, I’ve been doing I’ve been doing Facebook ads forever, but specifically for real estate investors since 2016 and what I realized is a lot of people who want to do DIY, they fit really well into the analogy I gave earlier, which is they want to be ripped, but they’re not quite ready to really do everything that they need to do to get ripped.

00:54:10:26 – 00:54:50:20

Kiley

And so we see people jump into that and then they hit some hurdles, they hit some difficulties and they kind of bail and they go our Facebook ads don’t work. Or I you know, I’m going to I’m going to move on. And we’re actually really excited about about this. BRADY We because of that feedback, we we’ve been really thinking about how do we make something that people who are not ready for management either because their budget is a little bit smaller or maybe their personality is such that they’re like, I don’t want to hire someone, What?

00:54:50:22 – 00:55:24:06

Kiley

How can we help them get into Facebook ads in a way that they can be more successful long term? So we’ve created a dashboard software tool where we’ve taken all of our best performing ads and prebuilt campaigns with all of our and everything that we would normally use. And basically people can run Facebook ads with three or four clicks and run everything through through this dashboard.

00:55:24:18 – 00:55:54:11

Kiley

And it’s because part of what part of what’s hard about Facebook marketing is learning how to use ads manager. It’s Facebook ads, managers. I mean, you get in there, it’s a little bit overwhelming. It’s a little bit intimidating. Yeah. So we’ve we’ve we’ve got a tool now that that takes all of that and puts it into like a super simple dashboard where you’re just like, you’re, you’re cooking and you’re toggling things on and off and this is the way I think about it.

00:55:54:11 – 00:56:26:11

Kiley

So to come back to my other analogy about about food hiring an agency is like hiring a personal chef. DIY is like doing it all yourself. So you’re coming up with the meal plan, you’re going to the grocery store, you’re buying all the groceries, you’re chopping it all up, you’re cooking it, you’re and this, this, this, this new tool is like hellofresh or Blue Apron, where someone who knows the the professionals are preparing everything for you there.

00:56:26:11 – 00:56:51:22

Kiley

Do a minute to your doorstep and all you have to do is a couple of steps and then you’re eating. Oh, yeah, yeah. It’s, it’s it’s not a perfect analogy. I mean, because really it’s like. I mean, it would be like if all you had to do with the hellofresh was put it in the microwave, you know. Yeah.

00:56:51:25 – 00:57:49:00

Kiley

That’s, that’s how easy it is. So as of, as of today when we’re recording this we are in beta and we have a handful of people in already and are accepting just a limited, a limited few more. If you’re interested in that, you can go to go dot Silver street marketing dot com slash beta. And by the time when this podcast airs, if we’ve come out of beta, we will redirect that link to get you where you need to go.

00:57:49:00 – 00:57:49:18

Kiley

Thanks, Brady.

00:57:50:03 – 00:58:16:19

JT

Thanks. Out of this.