BUYER LEADS + ADWORDS = GOLD: I think this is useful information for our new group members or anyone who hasn’t seen this before….
Have you ever wondered how you can get the absolute highest quality buyer leads from Google Adwords? It’s quite simple, and it’s guaranteed to work. Interested? Read on…
For everyone reading this, I’m going to assume that you have an IDX capable buyer’s website (all of you should have one). For my example, let’s say that you are an agent who wants to dominate the luxury market in Las Vegas, however what I am going to describe will work for any property type, city or area in the USA or Canada. Let’s also assume that you have a website that covers ALL property types in Las Vegas, not just luxury.
Before we dig into this further, we all need to have a conceptual understanding of how Google Adwords works, and how it is different from Facebook advertising. With Google Adwords we are bidding on keywords, or search terms. An example of keywords would be “Las Vegas Real Estate” or “Las Vegas Homes for Sale”. You can set a different bid amount for each unique keyword that you are bidding on. With Google Adwords you can also target a geographic area so that you are only bidding on traffic from that specific area. Most likely, if you are an agent in Las Vegas, you only want to spend money on website visitors in Las Vegas. There are of course instances where certain Agents would want to attract traffic from outside of their market. Facebook advertising is different, you are not bidding on keywords at all. You are bidding on a geographical area where you want the ad to show up within people’s newsfeeds. Facebook offers many demographic targeting variables that you can utilize as well.
Most agents make the mistake of bidding on the popular keywords only. In Las Vegas, these would be the keywords I used above, such as “Las Vegas Real Estate”, “Las Vegas Homes for Sale”, “real estate in Las Vegas”, etc. This is a mistake for several reasons. First is that these are going to be incredibly expensive keywords, and highly competitive. Unless you have a massive daily budget, you are going to spend your daily budget quite quickly with a high cost per click. If you have a budget of $20 per day, that could be just a few clicks and you are already done for the day. Additionally, it is a mistake bidding on these types of keywords because the QUALITY of the lead is likely not going to be very good. Let me explain why…
Let’s say that I just found out last week that my company is transferring me to Las Vegas and I know nothing about the area. I have no idea how much homes cost, I don’t know where to live, the only thing I know is what I can afford. Let’s say I can afford an $200k home. What’s the first thing that I do? I go to Google and what am I going to type in? Most likely “Las Vegas Real Estate” or “Las Vegas Homes for Sale”. I click one of the Adwords ads, and right away I’m an expensive click. Once I register through the forced registration on the site so that I can search for homes, not only was I an expensive click, but I’m a terrible lead. A $200,000 home in the area I’m moving from buys me something completely different than what I can buy in Las Vegas for $200,000. In my opinion this is NOT a high-quality lead. Not that I can’t turn into a sale, however I’m in the extreme early days of being educated about the market. Once again, I’m a lead, however I’m not a high-quality lead.
Now let’s flip it around. I’m a lead that has been doing my research already online and found that I really like the homes in the community of Queensridge in Las Vegas. I have a budget of $800,000. That isn’t going to get me the most expensive home in Queensridge, however there are certainly homes there that I can afford to live in that are all in my price range. When I go to Google I search for keywords such as “Queensridge Real Estate”, “Queensridge Homes for sale”, “Luxury homes in Queensridge”, etc. The cost per click (CPC) for these specific community keywords will be significantly less than one of the major generic keywords. Now when I register with the forced registration and give my lead information THAT is a kick ass lead. The buyer is educated. He’s realistic. He knows where he wants to live. He’s much further along in the sales process than the lead in the previous example. Like I said, he knows exactly where he wants to live. This is a READY, WILLING and ABLE buyer! Are you going to sell him a home every single time? Of course not. However, you will sell this type of lead a home at a MUCH higher rate than you will the lead in the first example. Guaranteed. And the best part is the cost for this unique visitor will be DRASTICALLY less. Cheaper traffic and higher quality leads. It’s a win win!
THIS IS VERY IMPORTANT – in fact it’s the absolute key to this working correctly: You must have a unique page setup on your website for every single community, area and/or city. These pages are where you send the traffic to for each community, area/city. For example, for people coming to your website who searched for the community Queensridge, they MUST be sent to a page on your website that is ONLY about Queensridge. That page should list example homes for sale in Queensridge, the ability to search for more homes in Queensridge, and information about the Queensridge community.
So the moral of the story is keywords such as “Las Vegas Real Estate” and “Las Vegas Homes for Sale” will get a TON of traffic. Lots and lots of it. The leads won’t be high quality though because they are general leads who could be interested in a mobile home or a mansion. Targeted qualified leads for a specific property type or community such as “Queensridge” will get not a lot of traffic, a very low number in fact. It will also generate a very low number of leads…..but those leads will be GOLD.