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?
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
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
1. They have better leads than Google ads.
2. Leads are less likely to abandon queries.
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.