Marketing Priorities Cost Benefit Analysis
There was a famous quote that went like this:
“Lord, grant me the strength to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.”
There are many times a Realtor has muttered this under their breath in public and screamed the words in private.
Today we’re here to help, not about those “strength, accept and courage” things. We have been working on that wisdom thing though.
Every day you are bombarded with new presentations touting subscribing to the latest web based target marketing subscriptions from everyone. Newspapers, TV Stations, Radio Stations, Google Ad Words, Facebook, Adwerx, Zillow and more are all in the game. They are all intertwined and touting the latest automated set it and forget it ad subscription service designed to sell the house for you.
They all shove ads out there by the millions but the returns of all but a few seem to fall very short of delivering what they promised. The past several months we have been studying these concepts and working on developing offerings that help focus on the behavior of specific target audiences. We are not promising to “sell” the house for you but we can help focus more more of the right eyeballs on your listings and at a price that exceeds the price performance of Google ad words benchmarks by more than tenfold.
The Problem
Getting eyeballs on your ads and fingers on the click button
Looking over the Google Ad Words benchmarks for Click Through Rates and Cost Per Click on both their Display Networks and Search Networks two things stand out…
1) Boy that seems expensive to get someone to look at my ad on the Display Networks. Google average of 0.24% CTR costs 88 cents per click. So if the show your ad to a 10,000 people 24 of them will click on it and Google will charge you $21.12
2) Boy that seems expensive for a click on my ad on search networks! Because you compete with the Big Guys you pay an average of $1.81 per click on your ad and have a 2.03% CTR. If you get 24 clicks here it will cost you $43.44
Simply put you are not going to win the battle of Google Adwords by competing with Ryan homes. They will win in every bidding war. They have very deep pockets and they have much higher margins than you on that sale of that home.
The Cost Per Click (CPC) Benchmark
The Click Through Rate (CTR) Benchmark
The above assumes you make up the ad yourself and you select all the right demographics and key words. Of course there are people that will help with that so add in those charges. However you still have to understand the demographics of the people that are buying as well as looking.
Here comes the most important question that you must figure out before you even begin. That is, where do I send them if they click on my ad?
Now forgive me. I’m going to be a bit indelicate here. If you send them to a picture of an open toilet and you try to sell them a mortgage when they get to the destination of your ad click, then you might as well have flushed that $1.81 you spent on the Click down that open toilet.
The Solution… Our “Listing Post Cards”
This offering is currently experiencing Click Through Rates of between 15% and 25%. The cost per click ranges from 5 cents to 9 cents. That is 10 fold better than effective Google AdWords campaigns using their published benchmarks. It reaches the demographic of those who are looking at homes, on the devices they use the most and on the platform they can’t live without.
We put eyeballs on your listing. It’s as simple as that. Take a look at our Listing Post Card video and then give us a call…
BTW this solution is built into our Agent Lite web site package.