Buying a house is an integral part of a dream future for many people. It’s not easy (those avocado toasts...), but there are ways to manage. For an engaged potential buyer, Facebook’s Dynamic Ads for Real Estate, aka DARE, naturally turn intention into an actual purchase.
The truth about DARE
Emily Wilson, Product Growth Manager at Facebook, defines the format as one that enables “you to capture intent signals from your website or app to automatically promote relevant products from your entire catalog across Facebook, Instagram, and Audience Network” (Facebook Blueprint webinar, “Take Your Dynamic Ads to the Next Level Webinar”).
Dynamic ads are a revolutionary Facebook ad format that makes your ad campaigns much more relevant and convertible, and allows you to target specific users with their exact viewed products or offers.
The key benefits of Dynamic Ads are as follows:
Ability to scale: you can promote all of your inventory from your listing with unique creatives without having to create multiple individual ads,
Cross-device support: enables you to reach people on any device,
Dynamic relevance: allows you to show only relevant ads with real-time pricing and availability.
The Dynamic ads format was first launched for e-commerce and retail. It allowed businesses to automatically promote any item in their pre-uploaded inventory to people who had already visited their website or app and showed interest in those exact items.
"When people visit your website or mobile app and take an action like browsing a product or category or putting an item in their cart for example, they are expressing an interest in your products; you can then leverage this intent, and serve people ads with the exact products according to your inventory across Facebook, Instagram and Audience Network regardless of their original touchpoint,” explains Emily.
DPA for Travel, which we have covered in one of our previous posts, was the next step. Finally, Facebook has recently expanded this successful marketing tool to real estate. DARE lets you automatically reach customers who have previously demonstrated interest in visiting your website or mobile app, and offer them highly tailored ads based on specific apartment metrics they have been browsing.
"Beyond simply retargeting people who viewed a particular listing on a realtor’s site or app, advertisers can use Facebook’s tracking tools to factor in details, like the neighborhood a person viewed or the price range they set for their search, to promote similar listings they may have missed,” writes Tim Peterson in his article at marketingland.com.
DARE-ing to be different: a case study
Just before autumn arrived, Aitarget (in partnership with the PIK group and 2R-media agency) launched the first-ever DARE campaign on the Russian market.
Together, we started building our own house of collaboration. Aitarget helped PIK group and 2R-media at every stage of the process, from editing and uploading the listing catalog to setting up the pixel and ongoing consulting with the agency.
At this time, the campaign has been live for nearly two months and has been constantly showing positive results with ascending CTR and a significant number of deals.
How to DARE
Here you can find general instructions on how to set up Dynamic ads. However, there are some particular differences in feed and event settings for DARE, as they are adapted for the specifics of the real estate market.
There are five high-level setup steps for DARE, from the Facebook guide for developers:
Set up your Home Listing Catalog of items such as apartments, houses, lands, etc (you can constantly update it, if needed). The Listing Feed with all the necessary information (IDs, names, prices, availability, bedrooms, etc) must be provided in one of the supported formats (XML, CSV, TSV). You could then filter listing catalog to listing set.
Build your Audience for Real Estate by first setting up user signals, which will allow you to measure the performance of your campaign and to capture intent from your audiences. Then associate those signals to listing catalog, create and share real estate event source groups, and create dynamic audiences associating those signals to listing catalog.
Create and deliver ads for your home listing, in the same way as for any other Dynamic Ads: create an Ad Campaign, create an Ad Set, provide a Dynamic Ad Creative, template tags that will be later substituted with the relevant value, and create your Ad.
Use Ads Insights to see how people on Facebook are engaging in your ads.
Use Debugging Tools to diagnose and resolve problems.
We have also gathered some tips for you:
- Drive attention by using diverse, well-made, visually appealing creative in your ads, with as little text as possible (keep the most relevant details).
- Integrate Pixel to get data on your key visitors (also actions and events). Don’t forget about your mobile website, and implement Pixel there as well: there is a noticeable shift towards mobile usage, with a number of mobile-first Shoppers growing by a third since last year.
Pro Tip: Use the Devices tab in the Pixels dashboard of Ads Manager to find out if you have forgotten to do so.
- Make sure your product feed is compatible with Facebook’s catalogue requirements.
- Set marketing budgets as large as you can, and bid your true value of a conversion. Don’t try to cheat with Facebook (as if you can) by lowering your bid value.
FYI: the formula is Bid Value ± CPC Bid / Click Conversion Rate
- Set up your campaign once with no interruptions to continually reach people at the right time, or you could specify performance periods - but don’t change settings on your way.
Dynamic ads were one of the main talking points at San Francisco Facebook Global Partner 2017 Summit, which Aitarget attended. With travel and real estate ads being a success, it is not hard to image other sectors being introduced to the public rather soon.