You NEED to have Goals for Your Campaigns
Hey, there. Welcome to Rokket Science, Advanced Digital Marketing for Real Estate Investors.
Today, I want to talk a little bit more about goals.
When you create a goal, when you say…
How Much Can You Pay For Leads?
A real estate investor will contact us and they’ll say I want to get leads for this amount. And in different markets, they cost different amounts. You’ve got not only the ad spend that you do with AdWords, you’ve also got what you pay us to manage. There’s a management fee, and there’s an ad spend.
It’s easy to say I need to get them for exactly this amount. I need to get leads for $100. I need to get leads for $125. If I can get all those leads for $125, then I’ll be set. That’s almost a little too specific.
We have a target range, and we call it MTO. It’s minimal, target, and optimal. What does this mean? Minimal, target, and optimal. It gives a range of what you can pay for a goal.
Have a Range you can Pay for your Leads
When we say minimal, it’s actually least ideal, so that would actually be the highest that you can pay. Target is what you’d like to pay for a lead for a phone call or a form fill. And optimal is what’s our most exciting, if we get leads for this price, then we’re going to be stoked.
We want to have a range, not just one price. And part of the reason why we want to do that is because we see that even if you are paying on the higher end for getting conversions or getting people to call you, oftentimes that’s really what scales. If you can pay a little bit more for a lead than your competition, oftentimes you can succeed really well.
Let’s talk about a range of minimal, target, and optimal for you to get conversions for your real estate business.