25/09/2018
Considering doing PPC for your REI funnels?
Seems everybody and their mother is now getting into real estate investing.
Flipping homes, buying distressed properties etc…
Because of this I keep fielding the same questions over and over again and keep fixing the same issues in Adwords for people in this space.
Figured it is easier to put up a post.
Ok, so some useful things to know about buying distressed properties and PPC.
1. The folks that have bought into the “we buy ugly homes” system and running PPC that are good at what they do turn 1 out of 10 leads into deals. Lead costs are painfully expensive. A deal can cost you 3k to 7k (just on ad spend) depending on market.
2. The folks running their own ppc/landers that are crushing it turn about 1 out of 12 leads into a deal. Note I said crushing it. Their deal cost can be 30% to 50% lower, even though it takes more leads to close one deal BUT only the ones crushing it.
3. What does a nightmare scenario look like that I have seen over and over again? $700 leads and closing less than 1 out of 20. Now that is some scary s**t.
I have been doing paid traffic and landers and copy for 17 years full time, what would I recommend if you’re a distressed property home buyer determined to ”do ppc” ?
Don’t dabble, you will lose money faster than you can imagine.
You literally have to nail EVERYTHING right!
What is everything?
- Start out of the gate with high converting landers ( you can’t guess and hope, while your spending a few hundred per day on Adwords lol – so funnel hack that s**te out of others)
- Do NOT let an amateur run your adwords ( or even someone pretty good that does not know this industry ).
- At the granular level the difference between pretty good and crushing it within campaigns will be obsessing over quality score, negative keyword use, click fraud detection software ( a must! ) and being very careful with keyword match types. What happens is this. You want more leads, your “guy” thinks only way to do that is open up to broad match and suddenly your CPL goes through the roof. A guy with experience would look you in the eye and say sorry, that’s it. You are getting the most leads you can get that are worth buying, going after that last bit will be so expensive it is not worth it.
- You MUST duplicate out on Bing to bring overall costs down. Sure there is 1/20th the traffic but each deal will cost you a third to one half what it does from Adwords.
- You MUST retarget folks on Facebook EVEN if they submitted a contact request! Huh? Why? So you appear as the industry expert, it will help you close more deals, the retargeting is just proof you rock. Of course, if they do NOT submit their info then definitely retarget (obvious) with a clear reason for them to take action.
- You MUST have absurd automation setup right out of the gate. SMS, ringless voice drop, hell send them carrier pigeons if you have to. It’s too damned expensive per lead to not have a killer automated follow up system in place.
WHAT IF I AM CRUSHING IT WITHOUT ADWORDS?
You should STILL run adwords BUT you can do it just on your brand name.
Why is this important?
Because no matter how much you are crushing it, some folks doing adwords have ripped off your customer at the last minute when that customer went and searched you on Google and was enticed by a great ad and lander.
DOOMSDAY IS COMING FAST
5 years ago getting online marketing clients was like shooting fish in a barrel. 10 years ago it was like printing money. Now today thanks to funnels, courses, targeted marketing EVERYBODY is an agency and every business owner in every niche gets pitched a dozen times per week and client retention rates are 3 months and almost EVERYBODY makes less than they would flipping burgers… despite their bravado statements on here…
See a similarity with buying distressed properties?
Best get your s**te together and that means making sure paid traffic ends up in the mix eventually EVEN if you have other things nailed.
Every month somewhere there is room full of people in state of ecstasy, fists raised to the sky, chanting they are going to scale, scale, scale in REI…
Well there are only so many deals to go around and the US economy will have the best year in its history in 2019 so yeah… I would not ignore a channel for getting leads if I wanted to be in this long term…
P.S
I am not afraid of “doomsday” in any niche, nor should you be unless you have actually bought into the B.S that this is all easy…. I am happy when stuff gets so hard to do it eliminates the competition for me 😊
Hope this helps someone.
Regards,
Peter
