CPL for Realtor is too high
I have spent ₹4,510 on Facebook Ads so far, excluding GST. I have also spent around ₹3,000 on Google Ads so far, excluding GST.
I am generating leads for a realtor in Punjab, but the cost per lead is currently very high, around ₹400 to ₹500. So far, Facebook has generated 15 leads, out of which 2 have converted into site visits. These leads were generated through form submissions.
The client says they were previously generating leads at ₹18 to ₹40 per lead with good volume. However, that was for a different company/entity, and the ad account we are currently using is new.
I have gone through several forums, guides, and case studies, but I could not find any reliable source saying that real estate leads usually cost as low as ₹18 to ₹40. Most sources suggest that real estate CPL is usually between ₹200 and ₹500, depending on demand, location, offer, audience quality, and competition.
The ad account has now started collecting some data. I also have data from Google Ads, so I am planning to launch a retargeting campaign as well.
I am currently planning to create static image ad creatives, and I already have property videos available for the campaign. I have also built a dedicated landing page for the property, and now I am planning to create both retargeting and cold campaigns.
Any suggestions to optimize the cost per lead while maintaining lead quality?