Hello everyone, last week I had posted saying I was spending $20 on Facebook advertising for my company. Well after 7 days of ad roll, the results are in!
Here is a little precursor, my company is a property management company that specializes in managing our owner's properties in order to make them passive income through monthly rent. We are a medium sized company with just over 300 property owners signed with us, amounting to just over 415 total properties managed.
Now to the ads. Due to the fact that there aren't a plethora of house owners looking to rent out their home, I had to target a finite group of people. The premise of the ad was to invite home owners to not only rent out their home, but use our company as their property management. I targeted people interested in investing, money, passive income, real estate, and property investment. All together Facebook told me that we have a potential audience, in the Mesa, AZ area, of around 250,000 people.
I launched the ad.
Nothing fancy, just a short description of our company and how we can benefit you. It was perfectly aimed at potential investors!
As of 11/02/17 the results were in!
Facebook estimated that for $20 my ad would reach around 4,200 people, not bad. At the end of my ad's life, we reached a total of 3,942 people. Now, out of those 3,942 people only 2,829 of those people stopped scrolling through Facebook and read the ad. Then, out of those 2,829 people, only 200 people clicked on our ad to learn more about our company. Finally, out of those 200 people, we had 6 home owners call us and inquire about investing their property.
Out of those 6 inquiries, we signed/are signing 4 of those home owners to become partners with us. For every home owner that rents out their property and uses us to mange it, we take home 8% of all rental income as well as administration fees. This means that for a $20 ad, we made $1,200.00 just in admin fees! Not to mention that now we take home 8% of the properties rent income for at least 3 years (that is their contact length)!
So, for my first ad on Facebook I'd have to say I am very pleased. We are a very high expense business, so I am sure for a smaller expense business (apparel, software, apps, games, etc) you would pull in a larger amount of customers.
It was fun to test out Facebook's ad system, and now I am confident to use not only their system, but venture to other website's ad systems! If you have any questions, or comments, please feel free to leave them below!
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