What you need to know about Facebook ad targeting changes
Facebook is making changes to the ways that real-estate companies can target audiences in their ads to keep in accordance with fair-housing regulations. Crescere’s digital marketing team is working closely with our contact at Facebook to understand how these changes will affect our clients. Here is what will change:
Facebook is adding distance restrictions. Targets will have a minimum 15-mile radius from any specific address or city center.
The “Lookalike Audience” tool, which allows our clients to find Facebook users who resemble the customers they already know, will no longer incorporate factors such as age, religious views or Facebook Group membership.
Facebook is building a tool to let anyone search all housing ads in the U.S.
Facebook Chief Operating Officer Sheryl Sandberg said that these changes are being made to eliminate housing discrimination in Facebook ad targeting. Everyone in the real-estate industry who has adapted to past guidelines will have to wrestle with these new ones, which will offer just another challenge to an already challenging advertising field.
These new guidelines will decrease click-through-rate for your Facebook ads. The leads you receive will be less qualified than before. Your success will more closely depend on how you interpret and treat the leads that you receive from your ads.
As always, Crescere advocates for these best practices when analyzing leads:
Implement a Facebook Pixel -- Having a Facebook Pixel across your website will now become much more important. A Pixel reports when someone visits your website and reports what steps were taken. This allows you to see exactly what potential customers are visiting your website and what they want to know more about. Learn more about Pixel and real estate best practices.
Hold more in-person events -- You will learn much more about a potential client if they say on Facebook that they are interested or attending your event. But you can’t do that unless you hold actual events. More communities are holding open houses, happy hours, and other events to highlight the amenities available to future residents.
Retargeting is key -- Rather than always seeking new leads, your Facebook ad dollars will be better spent by repeatedly targeting ads to users who have engaged with your content before but didn’t submit their information.
Offer excellent content -- Potential customers are more likely to engage with content that speaks to their wants and needs. Give us your best ideas, your best pictures, your best community stories, and watch Crescere turn them into the best leads.
Here is the bottom line: you are not going to lose qualified leads. You are going to gain less qualified leads. We know that you are great at analyzing leads; it’s your job! Still, we are going to work our hardest to make sure that your Facebook ads are as optimized as possible, just as we always have. Our goal will always be to connect you with as many great potential customers as possible.
If you have any questions or concerns, feel free to reach out anytime!