While social media provides excellent advertising opportunities for estate agents, it can be a challenging process. With so much competition, and with users having so little time, even engaging your audience and getting them to click a link or read an ad is no guarantee of success. In fact, you’ll find most people who engage with you don’t convert or take action, and this can be disheartening.
After all, if you have set your ads or content up correctly, you should reach the people who genuinely have an interest in what you offer. If you reach out to these people and they say no, you’ll have some questions about your business, including do you know who your customers are or what your clients want from you.
Not every prospective customer wants an offer right now
It is important to remember that not everyone wants something from you right now. There are many reasons why someone who would be your ideal candidate could turn away from your offer, including:
- They are busy and need more time to consider
- Something comes up
- They absent-mindedly click away
- They need to discuss the offer with others
All these reasons are genuine reasons why the right customer may decide against converting or taking action with you. However, there is a way to stay in touch with these people, which means that you have another chance of connecting with them. This method is called retargeting and it is essential for estate agents.
What is retargeting?
Retargeting, sometimes referred to as remarketing, is an online advertising strategy that helps businesses remain in front of people who have viewed their ad or site but who never became a customer or client.
With some studies suggesting that just 2% of web traffic converts on their first visit to a site, retargeting is essential when it comes to converting the 98% of traffic that doesn’t sign up.
Retargeting is commonly associated with website traffic and social media platforms like Facebook or Twitter. There are various methods used to retarget customers, using cookies or pixels, but you don’t need to worry about the technical aspect as there is a lot of support to set up retargeting campaigns in the correct manner.
What are benefits of retargeting for estate agents?
You should only be interested in retargeting if it is likely to benefit your estate agency business and thankfully for estate agents, retargeting carries many benefits, including:
- It improves your conversion rate
- It helps you to reach the customers who need time to think about offers
- It improved brand awareness and reinforces your position as a recognised company in the property market
- People are more likely to share this content or ad with other people
- There is a higher clickthrough rate compared to “cold-calling” adverts
- You can connect with previous customers too
All these benefits are important but for many estate agents, the strongest benefit of retargeting comes with being able to segment your audience. Segmentation is essential because it allows you to provide more detailed and tailored information to people, increasing the likelihood that you will engage with them in a more effective manner.
It is vital to know that online advertising isn’t a “one-shot” effort or activity. With retargeting, you have a chance to reach out to missed customers or develop a relationship with people who want what you have to offer but who haven’t committed yet.
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Agent Media UK