How to Create High Converting PPC Google Ads
With Google Ads, you can boost your marketing strategy and create more visibility online. PPC gives you a foothold in a market filled with competing real estate investors. However, merely buying a few paid ads is not enough to get you ahead. You need to approach PPC Google ads with the same mentality as any other marketing strategy.
The basis of your PPC strategy is to create ads that convert. The higher your conversion rate, the higher your ROI is. Like any other marketing campaign, Google Ads can eat into your budget quickly. Therefore, creating a strategy that leads to more conversions and real estate deals is essential. Below, we look at how to create high converting PPC Google Ads.
Conduct a Comprehensive Marketing Analysis
No marketing campaign is effective without a comprehensive marketing analysis. After all, if you don’t know where the marketing motivated sellers are, you can’t buy their houses. While an analysis may look different for a real estate investor than it would a retail store, the concept or objective is still the same - know your seller.
A marketing analysis should include the essentials, such as
- Real estate market description and outlook
- Your target market
- Your target seller characteristics
- Target market size and growth
- Market share percentage.
- Purchasing margin target
- Competitive analysis
- Barriers and regulatory restrictions
Once you understand your target real estate market and the type of motivated seller you want to reach, you can craft your PPC Google Ads accordingly.
Establish Your PPC Google Ads Budget
Before you launch an all-out campaign on Google, you need to determine if you can afford the ads. You will allocate your entire PPC campaign funds toward keywords you can rank for in your market. Naturally, the top keywords cost more.
To determine your budget, you must calculate your maximum cost per click (Max CPC). You’ll compare your business’s Max CPC to the estimated keyword CPC in the Keyword Tool to see if you can afford to advertise. For example, if your Max CPC is $5 and the estimated CPC is $4, then you know there’s a good chance you can profitably advertise on that particular keyword.
Your Max CPC is determined by your website’s conversion rate, profit per customer, and target advertising profit margin. If you don’t know these numbers, you’ll need to guesstimate or set up tracking to calculate them more accurately.
Perform a Competitor Analysis
A competitor analysis helps you identify competing real estate investors in your target market and research their different marketing strategies. You can use this information as a point of comparison to identify your company’s strengths and weaknesses relative to each competitor.
You can do a competitor analysis at a high level, or you can dive into one specific aspect of your competitors’ businesses.
The best way to spy on your competitors is to ask some basic questions and find the answers.
- Which competitors are advertising on Google Ads?
- How much traffic do they get?
- How much are they paying for these visitors?
- What are their most popular keywords?
- What do their most important metrics look like?
Several tools can help you identify and analyze your competitors. Two of the most popular tools are Google Analytics and SEMRush.
Develop a Compelling Unique Selling Proposition
In your case, it would be a unique buyer proposition (UBP). A UBP asks the most fundamental question:
“Why should a seller work with you instead of another buyer?”
What makes your REI business unique, and how can you communicate that in a Google Ad. Here are some examples of a unique buyer proposition:
- Fast selling and closing process
- Family-owned business
- Local home buyer
- Closed X number of deals
- Help sellers in bad situations
- Pay 100 percent of closing costs
- Only buy certain types of real estate
If none of the above are unique to your business, decide what is and use the characteristics as a unique buyer proposition in your Google Ads.
Create Compelling Copy That Converts
Getting people to your ad is only half the battle. Now that they’re looking at your ad, you need to convince them to take the next step in your journey. With AdWords search advertising, you pay when people click on your ads. Therefore, your ads have two very important jobs:
- Attract qualified prospects, so they click on your ad instead of competitors’ ads.
- Repel unqualified prospects, so they do not click and waste your ad budget.
That means more traffic, more real estate deals, and less wasted money on unqualified traffic, which all leads to higher profits for you.
You need to craft compelling ads with a high click-through rate (CTR) that will boost your Quality Score, which will lower the cost per click of your keywords. So your ads will directly affect how much you pay per click for each of your keywords. Great ads will lower your costs, while lousy ads will raise your costs.
Get More from Your PPC with Magnyfi
Magnyfi can help you get more qualified leads through Spark, our fully customizable lead generation tool. Learn more about how we can help you implement the Magnyfi Marketing Program in your area.
To check the availability of your market, fill out our application form or contact us at 877-399-2259, and we will walk you through the process. We work with a limited number of real estate investors per market, so Claim My Market today.