Objection #1: “It’s hard to find motivated sellers on Facebook.”
Okay, this one is sometimes true. It can be hard. But here’s the good news — it’s hard for your competitors too, which means they likely aren’t doing it. That equates to untapped opportunity.
Of course, not everyone on Facebook is a motivated seller, but it’s very likely that the motivated sellers in your area are on Facebook.
You might be thinking, “yeah, but my typical deal is with someone in an older demographic.” They’re on Facebook too. In fact, 33% of all Facebook users are over the age of 45, and 17% are older than 55. That’s almost 1 in 5 people over the age of 55. And these people are clicking on ads. In some of my recent client campaigns, on average, 57% of leads came from people 55 and older.
Objection #2: “I Am Going To Clog My Friends’ Newsfeed With Ads.”
Some people want to clearly differentiate their personal and professional social media lives.
I’ve seen several incredibly successful investors openly sharing on their personal page, but if you fall into the “let’s keep it separate” category, there is good news – with Facebook Business Pages and powerful targeting options, you can run successful ad campaigns while keeping your personal feed clear for cat memes and cute pics of your friends’ kids.
Objection #3: “I Didn’t See Leads Right Away. I Guess It Doesn’t Work.”
In a perfect world, every marketing channel would provide immediate results. That’s the dream, but unfortunately, not the reality.
Most campaigns take a time to build momentum. This is certainly true for Facebook. Several factors contribute to success such as budget, market size, existing traffic on your site (retargeting), market timing, and quality of ad content.
Your first month will be your slowest month. If you have a few extra marketing dollars and want to give Facebook a try, make sure you really assess how committed you are. It’s possible, those few extra dollars are better spent on an existing channel such as PPC or direct mail. I suggest a commitment of at least 90 days – even better is 4 – 6 months – to fully realize the benefits of Facebook.
Objection #4: “Facebook Marketing for Real Estate Investors Is Too Expensive.”
Imagine you found a vending machine, and every time you put 100 dollars in that vending machine, it gave you $500 back. How many times would you put in $100? Forever, right? You’d do it forever (or hire someone to do it for you) because you know there is a positive return.
What if the vending machine started charging $300 in return for $500? Would you still keep feeding it money? Probably. If the price kept increasing, at some point, you might stop — at the very latest, you’d stop at $500 because now you are breaking even.
Marketing is your vending machine. The deals produced from marketing are the output, just like the example above.
“Expensive” is a relative term. You need to know your business in order to set appropriate expectations. If your ideal cost per lead is $200 and it takes 10 leads to close a deal, you might have to spend $2,000+ on marketing to get a deal. Too many people start a campaign and give up too early because they did not know their numbers and fail to clearly define success metrics.
Objection #5: “Facebook Isn’t Worth My Time.”
Finding motivated sellers on Facebook is a highly specific targeting challenge to be sure, but it’s that very fact that makes Facebook such an exciting avenue for your REI business.
If it were incredibly simple, everyone would be doing it. Because it takes some finesse, Facebook remains a largely untapped resource to the most dedicated investors. If you’ve had these Facebook marketing objections, you’re not alone. We’d love to show you how this can be the best marketing platform for your business.