Christina and I have been talking a lot lately about what new flippers should and shouldn’t spend money on. We both know that, as a new real estate investor, you’re trying to figure out how to make money in real estate with little money. We also know that sometimes it pays to spend a little bit of cash, especially when you’re starting a family real estate business.
I was thinking about this the other day when I saw a prompt pop up on our Facebook page asking me if I wanted to boost a post that had gotten a lot of likes and comments. Basically, if you decide to boost a post, you’ll agree to pay Facebook a certain budget, and the site will push your post to people that its algorithms say will be interested in your content. That got me thinking, “Is this a good marketing strategy for new flippers trying to get the word out about their businesses?” Let’s consider a few factors…
Social Media Marketing Is Free…Till It Isn’t
One part of me really hates the idea of paying to push a social media post to more viewers. Basically, I feel like you can get a lot of exposure and success without spending any money if you know what you’re doing. If you post consistently, engage with your audience, and build relationships with other people in the real estate investing business on Facebook, you’ll get a lot of likes, comments, and shares. That means that your followers’ friends and even some of their friends of friends will see your posts, not to mention anyone searching for any trending hashtags you use.
The thing is, though, getting started can be a pretty slow process. Even if you invite all of your Facebook friends to like your new page, only a fraction of them will do it. Furthermore, you can only depend on real engagement with your content from an even smaller fraction of those people.
A Small Paid Boost Could Be Just What You Need
When you pay to boost one of your page’s posts, you can “create the audience” you want to reach, including location, interest tags, age, and gender. Basically, you can tailor exactly who’s going to see your post based on who will be the most interested and whom you really want to reach.
In the real estate business, you’re not necessarily going to be friends (or even friends of friends) with all of the people you want your posts to reach, but you can increase your chances of reaching them by spending just a few dollars. Facebook estimates that with a budget of $20 for a one-day boost, you can reach between 7,000 and 18,000 people, which is a pretty huge jump in exposure.
Choose Which Posts You Boost Carefully
Granted, not all of those people will engage with the post or start following you, but even if you get just 1%, you’ll get an additional 70-180 people following your page.
That said, if you decide to start boosting posts, you’ll want to keep a close eye on your advertising budget and choose which ones to boost carefully. A post with before and after pictures of one of your flips is a good one to boost, as is a post about an upcoming open house. You don’t have to boost your “Happy New Year!” post or posts where you link to articles about flipping or other content.
If you’re starting a family real estate business and trying to learn how to make money in real estate with little money, you might want to consider boosting a couple of relevant posts on Facebook. It’s definitely not a necessity for a successful social media marketing campaign, but it won’t hurt if you choose the right posts and the right budget.