EP 434: Facebook Ads for Real Estate w/ SilverStreet Marketing
Do Facebook ads give good ROI for quality, motivated seller leads? Yes — when managed well. Kiley & JT with SilverStreet Marketing have spent millions on Facebook ads over the last decade, gaining a massive amount of insight into what makes an ad flip or flop. We talk about what to look for when outsourcing, lead costs & ROI, how to get quality targeting & lower ad costs despite recent changes to Meta’s platform, how they’re using ChatGPT to make ad creation more effortless, and a cool new tool they have in Beta that serves the investor who wants to go the DIY route. Let us know what you think of the episode – brady@carrot.com Get more content about paid ads at Carrot.com/ads Work with Kiley & JT: Marketplace.carrot.com or go.silverstreetmarketing.com/beta. Episode Transcript (This is an automated transcript by robot carrots – please mind the typos 😉) 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 … Continued