Pay Per Click (PPC) 2.0 FAQ
Q: What is PPC? How is it different from Social, and which should I pick?
A: PPC stands for Pay Per Click advertising, it is typically associated with advertising on major search engines like Google and Bing. PPC prospects are different from social in that the consumer goes to a search engine and types in keywords like “homes for sale in Los Angeles” before coming to your website. This means that the consumer is already at a stage where they are actively thinking about real estate. This typically means that these leads are lower in the buying funnel compared to social.
Social leads, on the other hand, are people that were specifically targeted by Ylopo on your behalf who have a higher likelihood of being interested in real estate. Since we are “broadcasting” to these consumers as opposed to having the consumer take direct action by searching for real estate related keywords, they tend to be higher in the buying process (however, based on our data this is not that big of a difference. Google has around 50% of consumers who say they are buying in under a year, Facebook has 40%). We highly recommend clients invest in both social and PPC to get the best of both worlds. We explain in detail the advantages of this approach above.
Q: How do budgets and billing work?
A: Ylopo’s fees are based on how much media you spend on the platform (just like how CRMs charge you based on the number of seats you have, Ylopo as a digital marketing platform charges based on the amount of media we manage).
Traditionally if you wanted to spend more media (on social or PPC), we charge you a larger license fee (based on the Ylopo level platform fees). However, because we want to make sure that as many clients as possible have access to PPC - we have decided to give a totally new budget that we’ll manage every level starting at level 1 JUST for PPC ($600 per level).
This is a major benefit to Ylopo clients because we are effectively reducing the amount Ylopo charges substantially when we don’t charge you an additional license fee when you add PPC (despite Ylopo having invested over a year and a lot of research and development to develop PPC 2.0). However, we felt that it’s the right thing to do for our community given both the times and our desire to help you all maximize your ROI.
As a Ylopo client, for each Ylopo level, you can spend $600 on social media, $600 on PPC, and $1200 on remarketing at each level starting at level 1. For the residential real estate industry, this is one of the cheapest prices charged to manage this amount of media.
So as an example, you can decide to spend $600 on social / $600 on PPC, or you can decide to spend $300 on social / $600 on PPC, or if you’re in a vacation market, you might want to even spend $0 on social (more on remarketing) and $600 on PPC (not recommended for most folks).
Q: Why can’t I have a PPC budget under $600?
A: The reason that starters have to upgrade from starter to Level 1 is that a $300 budget is too small to advertise on Google effectively. The cost of a “click” on Google is about 3x the cost on Facebook, so it takes a larger budget in order to get traction. That is why only those with a Level 1 license with a $600 budget can run PPC.
Q: Can I forgo Facebook/Social marketing budget and spend it all on PPC?
A: While it is your choice on how much you want to spend on media, we do not advise that you turn off social advertising when you spend on PPC. The reason for this is that the costs associated with advertising on Facebook are dramatically cheaper than PPC. For every 3 leads generated from Facebook, you will get 1 PPC lead. This means that you have 3 times the opportunities on Facebook even though the leads are generally a bit higher up in the buying funnel. Ylopo’s platform is designed to automate the nurture of your leads for the duration of the entire consumer journey, and having an even distribution of Social and PPC is our recommendation for all clients.
Another reason that we recommend social leads as part of your mix is that the ultimate power of Ylopo is to nurture your entire database to make it an income-producing machine for your business in the long term. The more leads you build in your database (and the faster you build it) will yield long term ROI. Given that Facebook is 3x cheaper than PPC, it is a great pipeline and database builder.
Q: How do I change the areas/keywords I’m targeting on PPC?
A: You can change your targeting areas directly in Mission Control by editing your target locations. Here’s how you do that:
1) Login to Mission Control, and click the Marketing tab up top.
2) Scroll down to the Marketing Command Center and click Cities.
3) Add or remove areas that you would like to target.
Alternatively, you can always contact firstname.lastname@example.org to change your areas as well.
Q: How much can I expect my PPC leads to cost?
A: PPC leads are typically between 2-3x more expensive than social leads. This is because the cost of a visitor (or click) coming to your website is about 2-3x more expensive. Our nationwide average for cost per lead (CPL) is between $6-$7, however this will range widely with some areas getting significantly less CPL and some areas significantly more. Please consult with your marketing manager at email@example.com to learn about your specific situation.
Q: How should I work my PPC leads?
A: While RAIYA will be working your leads with a specific script built our team (and continued to be refined) specifically for PPC, our recommendation is that you still follow standard protocol for working each lead. This includes a phone call right away to the lead and a cadence of follow up phone calls. Please refer to Barry’s Master class as well as scripts book to further get a cadence for lead follow up. Reach out to firstname.lastname@example.org if you have questions about either of these two assets.
Q: Why are my leads coming in with no last names?
A: We ask for consumers to give us their full name in one field rather than a first and last name. We have found this to dramatically impact conversion results because we are reducing fields by one. However, this leads to some consumers who do not provide us first and last name, but just one name. We recommend if you need the last name to get that directly from the lead once you have connected with them.
Q: Will I get Seller leads?
A: We have found that somewhere between 15-25% of home searchers who visit via PPC will answer the question of “where are you in the buying process” with “need to sell before I buy”. These are definitely seller opportunities with the plus of being potential buy and sell. We are also working on generating direct seller leads although this is still in beta. Please reach out to email@example.com to join the waitlist and we anticipate releasing seller lead generation in September 2020.
Q: How will I know which leads in my CRM are PPC leads? What do the tags on my PPC leads mean?
A: The source of PPC leads will remain Ylopo. We will tag the leads with Ylopo_Adwords if they come from PPC and leads coming from Bing/Yahoo will be presently tagged as Ylopo_Organic. The reason we do this is to allow you to keep your lead routing rules associated with Ylopo and if you want to further create rules to segment them via tags.
Q: How can I create a separate distribution list for my PPC leads?
A: You can use the tag of Ylopo_Adwords to create additional lead flow rules. Tags are called different things based on each CRM so please consult with your CRM (ex. Firepoint calls tags slugs).
Q: What information can I see in Mission Control? What changes can I make myself?
A: We will be adding Adwords to Mission Control both as a budget category as well as detailed views of what campaigns are running in the near future.
Q: Where can I see the results of my PPC campaigns?
A: Please request firstname.lastname@example.org to provide you an updated SuperMetrics report which will give you real time data via Google sheets on all of your campaigns.
Q: What kind of marketing optimizations can I make and how?
A: The following optimizations are supported:
- More or less leads in a certain location
- Leads coming from out-of-area
- Limiting leads looking at lower price points
- Getting local, state or national level traffic
- Lowering cost-per-lead/opportunity
Q: What marketing optimizations can’t be done?
A: The following optimizations are not supported:
- Too many bad phone numbers
- Financial qualification
- Demographic targeting
- Radius targeting
- Custom campaigns
- Seller campaigns
- Real estate agent campaigns
- Custom budgets for each location
Q: When I search for my areas on Google, I’m not seeing my ads. Is there a problem?
A: Your ads will display on Google based on the algorithm’s best guess at which searchers will convert into leads for you. It will also depend on your budget with lower budgets showing less often than larger budgets. As long as you are receiving leads you should not have to worry about when your ad appears.
Last Updated July 2020