Facebook Mortgage Ads for Generating Leads

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Like many things, marketing has drastically changed over the past several years. One of the most significant recent changes has been how popular social media has become and how strong a platform for hosting ads.

As of May 2021, Facebook reported that they have more than 2.85 billion active monthly users. This number is expected to grow in the coming years, so investing in ads on sites like this is becoming crucial to a business’s success.

Let’s look at how mortgage lenders can use Facebook’s ad services to generate leads and grow their businesses.

How do Facebook ads work?

Like many other kinds of advertising, Facebook ads work by targeting people who are statistically likely to appreciate the product or service being advertised. Facebook will consider a person’s location, age, profile data, and other demographic information to determine the best possible audience for the ad. Facebook ads are composed of a few different components, including the ad type, targeting, placement options–like newsfeeds or Messenger, the bid and budget, and the schedule for when and how long your ad will run. Ad types will be further explained in the next section, but let’s first explore more about Facebook’s targeting process and why it’s so invaluable.

Targeting

The biggest reason why Facebook ads are so effective is because they use specific targeting to ensure that the right people–those who would actually be interested in the product or service offered–are the ones seeing the ad. Facebook ensures this by filtering its users by location, age, relationship status, income status where available, interests, and many more factors.

Bid types

On Facebook, a bid represents the amount of money that a company or business is willing to pay to have customers both see your ad and do whatever action the ad prompts them to. There are a few different ways you can bid on Facebook ads, including CPC and CPM bidding.

CPC bidding, or Cost Per Click bidding, only charges the company when individuals click on the advertisement listed. It is a bidding strategy that is usually highly recommended when advertising through social networking sites. It drives traffic to your business without charging you for ads seen but never explored by others.

CPM bidding, or Cost Per Impressions bidding, charges companies per every one thousand views their ad gets, no matter whether the ad is clicked on or not. This bid type is less popular because it can be harder to see lead generation.

Types of ads

There are many different ad types that Facebook uses to ensure a wide viewership is reached. Among these types are photo ads, video ads, and traditional text ads.

  • Photo ads usually blend right in with normal Facebook posts, as they follow the same format. People may be more likely to read through them in this format because their eyes will naturally flow from one post to the ad, not noticing any change until they are already invested in the material.
  • Video ads can come in many different places. They, like photo ads, can be found in someone’s regular feed, but they can also be seen as a break in the middle of another video a viewer is watching or even listed as a Facebook Story.
  • Text ads are basically regular posts without a photo or video with them. Typically, these can receive less attention, as they usually don’t have much that grabs the casual scroller’s attention.

Mortgage ads on Facebook

Mortgage ads are like any other ad listed on Facebook. They generate leads and encourage customer interaction, but there are still a few key differences to note when creating one such ad.

Advertising strategy

Unlike other customers online, those who are going to be interested in mortgage loans are going to have a much higher emotional investment in the process. This is because they’re not just looking to buy a new pair of shoes or tickets to a concert. Instead, they’re purchasing their first home, their family’s dream home, the place where they’ll spend most of their time and holidays. Therefore, mortgage industry advertisements need to have a big impact on customers. Moreover, mortgage ads fall under the Special Ads category of Facebook. Unfortunately, creating ads is more challenging because you are given limited options, including age, gender, location, and certain demographics.

Use retargeting

Retargeting is a strategy that considers a customer’s browsing history on the company website to determine which future ads to send their way. For example, if John saw advertisements for a mortgage loan website and visited it to compare rates, the site may gather information on which loans he was interested in and send him ads about various interest rates or other features they offer.

Provide valuable content on the landing page

The landing page is the first page anyone will see when they visit your site, so you need to make it as helpful and informative as possible. To do this, try to focus attention on the most pertinent information people need when considering your mortgage loan company. It can include testimonials, rates, special services, and more.

3 reasons to use FB ads to generate mortgage leads

There are many reasons why generating mortgage leads through Facebook ads is useful. Facebook ads provide better leads than Google ads, leads are less likely to abandon queries, and you can use multiple marketing efforts to get more leads.

1. They have better leads than Google ads.

Facebook generates a better lead pool than Google does for its advertisements. This is because Facebook bases its target audience on audience interest, whereas Google uses keywords to target individuals looking for a product. This means that while Facebook ads can gain you a larger audience, Google ads will only reach those who are already confident about a product or service.

2. Leads are less likely to abandon queries.

With Facebook ads, leads are much less likely to abandon a query than those from other marketing strategies. This is because Facebook audiences are already interested in the product or service offered. They want to know more, so Facebook shows them your ad to encourage lead generation and development.

3. Multiple marketing efforts are encouraged.

Facebook doesn’t limit you to one type of advertising or marketing. Instead, it encourages growth through additional strategies like email marketing. This can double the amount of attention you get per advertisement.

Key takeaways

Facebook ads haven’t been around as long as other, more traditional advertising methods, but they have a much higher click and view rate than most marketing strategies available today. It uses their clever targeting system to ensure that you receive the best audience for your product and encourage you to use many different mediums in the process. To learn more about Facebook advertising or hire a professional to help you run the best possible campaign for your time and money, contact Good Vibe Squad today.

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