In our increasingly digital world, many new doors have been opened for marketers. And while we can now measure everything we do online to get a better understanding of ROI, this is often easier said than done. Facebook is a very powerful advertising platform, but its ever-expanding range of features can make even the best marketer confused at times.
If you’re using Facebook for advertising, there’s one free tool we urge you to use right now that will help with your attributions and measuring ROI: The Facebook pixel. Essentially it’s a piece of code that you place on your website that helps you track conversion from your Facebook ads, optimise ads and build targeted audiences.
We’ve all been served an ad for those shoes we looked at a while ago but never ended up buying. This is precisely what the pixel helps facilitate; tracking a user’s behaviour to only show them ads that are relevant.
Let’s take a look at how the Facebook pixel can help property developers improve their marketing strategies:
1. Conversion tracking
Let’s say you’re selling house and land packages in Melbourne’s north and use Facebook to connect with potential buyers. The Facebook pixel will allow you to track a user’s behaviour and interactions with your Facebook ad and website. You can even track their interaction across different devices, to really develop an understanding of how and where your ads are performing. So, if a user is first exposed to your ad during their commute to work on their mobile and they then visit your website via their laptop at lunchtime – you can track this. This information can help you refine and customise your ads for the best ROI, so that you’re not spending valuable ad money on people that aren’t interested in purchasing house and land packages in Melbourne’s north.
Every business has a large database of cold leads, and with the pixel, these can be revived. It allows for your new property ads to be displayed to people who have already visited your site or interacted with previous relevant ads in one way or another. You can, for example, show them an ad for the exact home and land package they’ve already viewed, or you can show them a similar type of property or package that they might be interested in (seeing the shoes you abandoned in your online shopping cart wasn’t a coincidence!).
3. Lookalike audiences
With the pixel, Facebook can help you create a lookalike audience of people with similar interests, likes and demographics as the people who have already interacted with your ads or website. This can help you connect with potential home buyers that wouldn’t have found your business otherwise.
4. Optimise your ads for conversion
The pixel can also help optimise your ads for specific conversion events on your website that align closely with your business goals. The pixel can optimise your ads for 17 different events. The events most relevant to the property industry are:
- Lead: Someone signs up for a newsletter or similar on your website.
- Complete registration: Someone completes a registration form on your website.
- Search: Someone using the search function on your website to find something, such as a specific home design.
- View content: Someone views specific content on your website, such as a floorplan.
- Contact: Someone contacts your business.
- Location: Someone searches for your business’s physical location or the location of your display homes.
Even if you’re not already using Facebook ads, we recommend you install the Facebook pixel anyway, as it will start collecting data right away. So, when you’re ready to create your first ad, you won’t have to start from zero.
At Property Republic, we’re experts at social media marketing. If you need help implementing an effective marketing strategy using the Facebook pixel, get in touch!