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Chris Bounds 20:51
That’s led you to solving a couple other problems. So social media came along the way and I guess, maybe, let’s start there. And then we’ll go into software, which is completely different business, but didn’t have the social media, how did you end up building that business?
Stephanie Betters 21:10
Well, you know, competitive world, you know, we we really formally started our investment company in like, 2014, if we’re going to be like, really real on the dates. And, you know, we were just trying to find a competitive edge and try not to spend a lot of money and in 2015, or so we started marketing on Facebook and had success. And funny back in 2015, not that long ago. Everybody thought we were nuts. Right? Like Facebook marketing doesn’t work, or avatar homeowners a 66 year olds aren’t on Facebook, you know, we’re not it’s not gonna succeed.
No, it is, is that it’s working. And we were able to reproduce our, our results really kind of accidentally, because we had a local friend who’s like, Hey, we’ve got a list of homeowners in Pennsylvania, do you think we can dispo some of these deals? Or I was like, Sure, we’ll try it. Maybe we’ll just put our our Facebook ads there and see if we can drum up some, some homeowner business and some buyers there. And we hope we did.
And then other people that we were, that were in our network and in a mastermind was like, Hey, I see that you’re doing that, like, Can we try it too, and we were able to reproduce it. And 2016 Social media area I was born and we started the Facebook marketing for motivated sellers and have been doing so ever since.
Chris Bounds 22:22
And the social media marketing game has changed dramatically over the last like, two or three years. So I, I was late to that game. And we were on social media, but it was more of an organic, which is fine, like, but knowing what to do now, man, I wish I went like 100x on that. But the advertising like how easy and you really like it was the Wild West, which was got pretty much all all of those platforms and a lot of trouble. But if you’re a savvy marketer, like you could just rake it in with very, very little cost.
Stephanie Betters 22:57
It’s crazy. And we’ve got leads for a couple bucks. You know, now it’s different. Now it’s more expensive per lead, but still not crazy. You know, maybe you spend 60 bucks a week. 100 bucks a lead, depending on your market, California. That’s a wild west right now, you’re going to spend a lot of money in California. But yeah, it was cool. And you know what, I got all jacked up, you know, talking about it, because that was innovation at its finest, right? Like, we see like a potential here and like, let’s do it. I see it, it’s gonna work. And being first to market is super exciting. You know?
Chris Bounds 23:27
Yeah, I really don’t think people have the perspective from a marketing standpoint of that era, like the maybe 2012 to whenever the, you know, the government started coming down on Facebook and Google for their Yeah, it was like termination targeting and all this on 18. Yeah. So that era, like from the had never existed before and marketing, it was just always so so difficult to actually pinpoint and target the exact avatar that you that you want it. So and now it’s not that you can’t do it. It’s just it’s a little bit more generic. And you got to get to be more strategic about it.
Stephanie Betters 24:05
Yep, yeah. Oh, yeah, there’s still ways to do it. I’m still successfully doing it. It’s just yeah, you have to be very strategic. And you need further integration, like you need to connect to offline event data, your CRM data, you need to have lists and get around look alikes. In a more closed vested way me like your data, you right now, to successfully market, you need to have data that you’re putting into it, that we don’t have this long learning curve of trying to get leads in, but that you can cultivate that now quickly, if you have some data to contribute to the to the algorithm.
And that’s, that’s how we’re successful with it. Now, you know, we do a lot of offline event data directly from CRM. So you know, if you came in as a homeowner lead, we would retarget you and people just like you on Facebook, and I know everything about you because you came into my CRM so you know where you live, what your phone number is, what your email is. doesn’t connect that that’s one of the best ways to do a look alike. Besides buying a list, the trouble of buying a list is God only knows what email address you used for Facebook, right? Or if that, you know, if you’re in the location where the home is. So it’s still really, really good. But the offline event data is kind of the secret sauce.