By Lauren Walker, Adwerx
Updated: January 24, 2019
Imagine you go shop for a new car. You wander the dealer’s lot, and a certain red convertible catches your eye. You kick the tires, open the trunk, and even sit in the driver’s seat. But you’re not quite ready to buy, so you leave.
Later that day, you see that same red convertible in the parking lot at work. Then it’s driving in the lane next to you on the way home. That night, you see it parked along your street.
What in the world is going on?
This is a-world analogy of a digital tool called retargeting. You expressed interest in the car. Now, imagine if the dealer could make sure you see it again and again to encourage you to return and buy. That's what retargeting is (but online), and businesses use it all the time. And now real estate agents can, too.
Studies show there is about a two-week window when consumers are online researching, whether for homes, movers, mortgages, or school information. In that time, they should be seeing your ad and building up the mindshare that tells them...you are the local real estate expert.
As reported by Kissmetrics and others, only 2% of web visitors actually “convert” the first time they visit a website. For real estate agents, a conversion could be many things: a newsletter signup, a downloadable home values report, or a simple contact form. But most people won’t do any of that the first time they visit your site. You need to encourage the other 98% to come back.
The power of advertising is in repetition, and that’s why it’s still in use today. Repetition helps to build the brand for a business, from real estate agents to car companies. But your great advertising strategy won't work if you show an ad only once. Consumers need to see your brand anywhere from 7 to 20 times to remember it. And retargeted consumers are a more powerful subset for real estate agents. Home buyers or sellers who have already been to your site, and shown an interest in you, are good consumers to be retargeted. In fact, retargeted consumers are three times more likely to click on your ad than people who haven’t interacted with your business before.
Retargeted consumers are nearly 70% more likely to complete a purchase as compared to non-retargeted consumers.
(Source: Digital Marketing World)
Retargeting works by showing your online ads to those viewers who have visited your website. As your potential customers continue to search the web, long after they’ve left your website, they will find your ad “following” them from site to site, increasing their awareness of your brand and creating that valuable familiarity.
Digital ads from Adwerx include retargeting that uses a tiny bit of code called a pixel. The pixel is unobtrusive—your site visitors won’t notice it, and it won’t affect your site’s performance. Every time a new visitor comes to your website, the code drops an anonymous browser cookie. Later, when your cookied visitors are on other websites, such as ESPN, Yahoo News, The New York Times, or even reading their Facebook feed, the cookie will let Adwerx know when to serve your ads.
Seeing your ad as they browse the web is just like you seeing that red convertible…it keeps your personal real estate brand top-of-mind as that buyer or seller gets closer to the moment of decision.
Retargeting even encourages the home shopper to learn more about you. In fact, a comScore.com study found that brands saw up to a 1046% increase in branded search. This means that home shoppers who are retargeted are that much more likely to go to a search engine and search directly for your name!
Retargeting is effective because it builds on an interest already expressed: the car dealer already knew you liked that red convertible. Home shoppers already visited your site in their journey to buy or sell a home. Some worry that retargeting abuses user privacy. But retargeting pixels do not collect any personally identifiable information, such as names, addresses, or even IP addresses. All digital targeting is completely anonymous. Retargeting uses cookies, which are small text files that store information. This cookie stores anonymous data about whether or not a user has visited a certain site...and that’s all.
Home shoppers have already told you what they want. By retargeting them, you will just be helping them to get it!
Strong negotiation skills are essential to success as a real estate salesperson. Knowing all of the factors that affect how you negotiate can create additional value for your buyers and sellers, and also lead to a bigger commission payday for you. Polish your skills with this 17-tip guide to successful real estate negotiation.
