In real estate, targeting local buyers is very much a no brainer, why? Cause it’s the lowest hanging fruit, since well, the targeted buyers have ease of access to the property being sold since they are in the same country. But the real question comes when wanting to target local buyers through digital marketing efforts. Who exactly should you be targeting and how exactly should you be targeting them?
There are 2 ways you can do this, one is by broad targeting with a catered targeting profile to fit the property value and type and the other would be through Lookalike audience, if you followed our lesson on how to create a Lookalike Audience, you’ll remember that I touched upon creating Lookalikes based on value.
Broad Target Audience
Much like the traditional sales and marketing, depending on the property that you’re selling, you’ll very much know what kind oof buyers you’re looking for.
- If the property you’re selling ranges from RM 200k to around the lower RM300k, you’re very much looking at first home buyers. You know that first home buyers are usually young adults ranging from 23 to 35 years old, and are enthusiastic about buying their first home. Luxury property is definitely not your target market for this audience segment, but how do you translate this into digital marketing? During your campaign planning, you’d want to define your target market to very much this, you’ll want to choose interest or keywords that that suggest those looking to buy their first home such as first home, first time buyer, those looking for government backed projects such as Rumah WIP.
- Investors is another audience segment you want to target as well, these are individuals who has the money to spare and those looking into properties as such may look into new developments with high change of capital appreciation of ≥ 30% in either standard or luxury property. You know that those with money to spare will definitely not be young, these individuals will usually be upwards of the age of 35. Now real question is how do you target individuals as such through digital marketing? You can do so by either targeting high income individuals who are looking to diversify their investment portfolio or by targeting those generally interested in property investment. Another that can be done is to target a lookalike based on value of buyers that you already have.
- Those who are generally interested in residential properties is another, but do note that these can also overlap with your first home buyer segment. The residential audience segment is generally an audience segment who are interested in residential properties such as landed houses, condominiums, apartments, bungalows, etc. So how does this translate back into your targeting? You’ll very much want to define your audience targeting to basically those who are interested in residential property type, to compliment this, you can also add in those who are interested in residential property developers.
There’s a far easier way of doing this and that is through the usage of Peasy, depending on your budget, duration and location targeting. You’ll receive recommendations of how to target local buyers, but there may require a some form of personal judgement here. Using what has been shared earlier you can decide which of the recommendations provided is far suited towards the value of your property or property type.
In order to create a lookalike based on property type and property value, you’ll have to use a little bit of elbow grease in order to a custom audience based on property type as there is no ability to do so filter by property type while creating a lookalike audience. However, if you have been collecting data through Facebook Pixel, there is a way to do so through event parameters, but we’ll cover that in later lessons. Coming back on topic, using your current buyer list, you’ll first have to segment it accordingly using property type. Be sure to include values as well, as mentioned in previous lessons, you can create a customer list with values and later use it to create a lookalike using values. Once you’ve segmented based on property type, upload it as a custom audience and later create a lookalike based on this using values.
Now all you have to do is create your campaigns using this targeting options on Peasy, as Peasy can then use the audience targeting that you have created and further refine it to optimize your campaign. Another advantage that you have with Peasy however is that you can upload your customer list as well in Peasy, using the lead’s function, tag them as Win and have Peasy sort it out later on. Cause there are caveats to using lookalike as lookalike does generally have overlap, Peasy takes it a step further by checking overlap per customer and create lookalikes free of overlap.