Real Estate Marketing: Is LinkedIn the New Facebook?
While Facebook still dominates marketing, it’s losing share to LinkedIn, at least within the real estate industry. And TikTok appears to be on the rise, too.
NEW YORK – Facebook remains a prominent marketing channel, but it’s losing share among real estate industry marketers. Madeleine Stearn, digital marketing manager at Curbio, who helps real estate agents get homes market-ready, says the company has reduced its marketing spend with Facebook by half in the past six months.
She says LinkedIn is currently a close second in the company’s overall spend behind Facebook, with investments in the platform increasing every month.
TikTok is also gaining prominence, Stearn says: “Despite Facebook’s promises of a bright future with Conversions API (CAPI), it became clear almost immediately that Facebook was nowhere near the powerhouse it was pre-iOS 14,” Apple’s software that made it harder for Facebook to collect personal information. CAPI is a Facebook Business Tool that lets advertisers share customer actions from their servers directly to Facebook.
Stearn says Curbio is focusing on Google Ads and “industry-specific publications, podcasts and training programs.”
Mike Whaling, president of 30 Lines, which helps apartment marketers maximize their digital advertising spend, says the company’s ad spend on Meta properties (Facebook, Instagram, Messenger) declined 10% in the past year, based on factors like “current consumer behavior trends , rising ad costs on Meta, and reduced performance based on targeting restrictions and Apple privacy changes.”
“SnapChat and TikTok have done a better job at handling Apple’s updates than Meta,” Whaling adds. “Investments in CRM and marketing automation have also improved marketing results, so marketers simply don’t need to spend as much on ‘top of funnel’ acquisition to fill the same pipeline.”
Source: GlobeSt.com (02/08/22) Bergeron, Paul
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