Testing Targeted Audiences for Real Estate
In the United States, there are roughly two-hundred to two-hundred and fifty million people on Facebook on any given day. These numbers represent an extremely broad range of interests, preferences, purchasing habits, income levels and so on. If you are trying to sell houses, you need to figure out whom among these broad audiences are your target market. Luckily, Facebook provides an arsenal of tools you can use to narrow down this colossal number to just a few thousand individuals. In this post, we discuss how you can use three tools, personas, ad creation and performance analysis to determine which ads perform well with which audiences. In the end, you should be able to know who to target and how to target them effectively.
Target Personas
To begin, you will need to determine what sort of personas make up your most attractive target market. If you sell homes in the mid-price range, you want to target people with an income level that matches the prices of the homes you are selling. If you live in a city with a few large employers, you can also target individuals working in these companies who have a certain level of annual income. One thing to remember when targeting is that interest is not a sufficient qualifier. For instance, just because someone is interested in Microsoft does not mean they work at Microsoft or even have the level of income that a Microsoft employee has. Once you have picked and qualified a few audience segments, move on to ad creation.
Create a Short Video Ad
Creating an ad to test out an audience is different from creating ads to drive conversions. When testing audiences, you need to focus on gauging interest and not necessarily driving purchasing intent. At this point, understanding which audiences are at least interested in what you are selling is more important than actually selling. To start, create a short video ad and pick one of your target audience segments. Repeat this with the other segments. Keep in mind you do not have to create a new video for each, but you should change the text that accompanies the video. Run each for about three to five days on a small budget of maybe twenty to thirty dollars per day.
Analyze Performance
As data begins to stream in, there are a few things you should keep your eye on. The first is the overall views. How many views did each ad video receive? The video that has the most views represents the target audience with the most potential to convert. The other thing to look out for is the ad message. What did the message say? What do you think made this message resonate with the audience? To dig deeper, you can switch up the messaging and audiences and then run the ads again. What you want to determine is how each audience responds to different messages. Once you get the correct message/audience mix, you can now move to conversion-optimized ads.
Keep Testing
Testing targeted audiences on Facebook should not be a one-off thing. To be effective and keep discovering new target audiences, you need to keep testing, both with new messages and with new audiences. The ideal outcome here is to keep generating new audiences that you can then target with conversion-optimized ads.
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