Home ASAP Sees Advertising Costs Plummet on Facebook
Agents Benefit from Increased Reach for their Target Audience
Surge in Facebook Usage During Pandemic Creates Opportunity for Unprecedented Ad Performance
Jacksonville, FL., April 28, 2020 — Home ASAP LLC, a marketing technology company known for providing cost-effective, Facebook-centric solutions to real estate agents and brokers across the United States, has seen dramatic decreases in Facebook advertising costs and marked increases in audience reach on the social media platform amidst the novel Coronavirus pandemic lockdown.
Home ASAP’s premier agent marketing solution, TurnKey Suite, which has launched over 100,000 agent ad campaigns since 2016, has observed advertising costs drop week-over-week beginning in mid-March by 35% using the Lead Generation Ad format, and by 29% per lead using the Dynamic Ad format, with hundreds of campaigns performing at less than a dollar per lead. Concurrently, CPM (Cost per 1,000 Impressions) has dropped by 44.3% while Reach has skyrocketed by 155.5%, allowing agents to be seen by more targeted local prospects.
The company attributes the improvements in advertising performance over the past five weeks to the surge in usage by those practicing shelter-in-place to mitigate the spread of COVID-19 and using this time to connect with each other via Facebook and other social media channels. While spending extra time on these platforms, users are more likely to encounter targeted ads tailored to their interests, such as buying or selling a home. Additionally, a wave of first-time users joining the platform to stay connected have brought an audience of key decision makers that were previously unreachable before the pandemic.
For these reasons, Home ASAP implores agents to not “give up,” and recommends that agents take advantage of this current opportunity to benefit from expanded reach and better ROI. Allysa Warren, Director of TurnKey Suite, explains, “We know that times are challenging right now, and there is a lot fear and uncertainty about the future in the agent community. However, now is when agents should keep pushing forward with their marketing. We continuously monitor the ads we manage for our agents on Facebook. Listings are still being added, homes are being shown virtually, and clients in many areas are still closing home sales. Real estate is an essential need, and this quarantine will come to an end. Savvy agents are using this opportunity to expand their customer base and build awareness at very low cost.”
Warren continues, “Facebook usage is up two- to threefold. As a result, lead costs are at the lowest levels we’ve ever seen (without sacrificing quality). Since it generally takes 3-9 months to nurture online leads into clients depending on where they are in the buying and selling process, we are advising agents to fill up their pipeline now and be ready to engage when this crisis subsides.”
Many agents are jumping on this opportunity to build their brand and reputation with their clients. Monique S. Carter, President and C.E.O. of Carter and Associates Realty, has been in the business over 25 years and has experienced several market cycles. In a recent interview, she explained that her approach is to use this current crisis to “reset, regroup and revisit your systems.” When this passes, she is going to be “ready to come out the gate.” Listen to her full interview here: https://bit.ly/Home-ASAP-Interview-Monique-Carter
About Home ASAP
Home ASAP operates the premier social media platform on Facebook that connects home buyers, sellers with real estate professionals. Home ASAP’s flagship service, the Real Estate Agent Directory™ has grown to 600,000 agents located in all 50 US States and Puerto Rico. In addition to the Directory, the company provides technology-enabled social media services for networking, advertising, marketing, content management, referrals, lead generation and brand building.
Director of Marketing