How to use Facebook Marketing to Increase YOUR Investor Database with Paul Hopkins
- Paul used to work in engineering and construction.
- He spent 12 years working on huge structures in Canada and the US.
- He is the COO of Direct Source Wealth
Unrelated to Real Estate
- Paul was a sponsored snowboarder at high school and 1st year of college
How do Facebook ads work?
Facebook currently has 1.7 billion active users which means it is one of the most powerful and wide reaching marketing tools available. Facebook collects data from every user based on what they view, like and click on. Facebook can also follow a user’s journey after they leave the site and store information about the user’s buying habits. This means that there are approximately 2000 data points per person which can be used to tailor a marketing campaign to a specific audience. Once you’ve selected your target audience your adverts will appear in their newsfeed and encourage people to click and follow links to your website. Paul says that you should think of Facebook like a party where everyone is invited; you don’t want to be that person who arrives and immediately starts selling. You need to approach slowly, build trust and make friends before you try to sell. Once they know you, you can “invite them back to your house” which could be your website or a landing page.
How to get started
The first step to starting with Facebook marketing is to decide on your campaign, you need to know what you are advertising and where you are driving your audience to. Once this is settled you can create your ideal audiences based on demographics. For example you could to target people who are interested in real estate by selecting for an interest in Michael Kiyosaki and then segregate by income. You can dive down into your audience data and select for age/net worth/interests/locations. You can also load your current clients into Facebook and create a “lookalike” list based on their personal data. The next step is to create your copy which should have a headline, a good image and a description. You can alter your copy and send slightly different versions to audiences as a split test to determine the most effective advert. Your adverts will appear on your audiences’ newsfeed so that they start to like and trust you and eventually opt-in.
There are three different types of audiences to target based on how well they know you and your brand: cold, warm and hot. Cold audiences are driven towards your free content like a blog or podcast. Once they’ve visited your blog you can retarget them and drive them towards a lead magnet like a webinar – these are the warm audiences. Once they’ve opted in they become “hot” and placed into a database where they will receive an automatic email and a series of follow up messages about who you are. The goal is to education your database on why they should invest with you.
How successful is Facebook marketing?
The success of these adverts depends on what you are trying to achieve and how frequently your audience is on Facebook. The more you spend on each campaign then the more people you will reach. Paul’s most recently campaign cost $2100 and reached 116,000 people. Of these people 15,000 clicked through to the website, 7000 went to the specific landing page and 70 became leads. This works out as $30 per lead which is more effective than the direct mailing that is normally used when advertising wholesaling. The thing that Facebook can’t do yet is target motivated sellers specifically, for example people who have been foreclosed upon or who are recently divorced.
Top investing tips:
- Most successful habit – His daily success work sheet which is like a score card for the day (email Paul for an example)
- Most influential tool in your RE business – Podcasts for learning on the go.
- Most exciting project right now – The business that he’s building and creating.
- Who is your most influential person – Robert Kiyosaki and Paul’s family
- Best US deal to date – His first wholesale transaction that was done completely virtually from Canada when the property was in Denver.