I would like to start this article with a simple request for you, here it is - please don't approach this article by qualifying it from the start as a sales article or even trying to push you towards making a decision.
The sole purpose of this article is to educate and guide you towards making the right decision as to what your budget for Google Ads should be.
The big question is What Should You Spend On Google Ads to generate the online leads ? The truth is, there is no upper limit and the obvious answer is the more the better but there is a suggested minimum amount.
Google does not work primarily on a monthly budget, nor they charge you upfront. When a brand new campaign goes live we have to set it up on a daily budget and if we know you can spend $300 per month we will set it up on a $10 daily budget where they will charge you for the first time exactly 30 days after the campaign goes live.
Now, please keep in mind that there will be 2 possible scenarios - that you have done online leads before or that you are just starting up.
The thing is, Real Estate Agents that have done online lead generation campaigns before are much more likely to start with a slightly higher budget of $700 per month and up as they know it is a numbers game. However if you are a beginner and have never done online leads before I would strongly recommend that you start with at least half of that, which is $350 up to $400 per month.
Why ? The simple and honest answer is to see the value of doing online lead generation campaigns much faster. If you start really small, i.e. $250 or less the truth is that you will need many more months to go by before you see the value and get a decent amount of leads to evaluate the results and most likely get discouraged with online leads as 15-20 leads per month is not nearly enough.
Google even suggests in their official article on this topic that you start with a minimum of $10 USD which is approximately $13 CAD, in other words $400/mo.
That budget will generate 40-45 leads each month and in only a couple of months you will have plenty of leads to see the true value and enough of those who are likely to convert in the months to come.
Staying competitive with $250 or less is truly almost impossible in today's market. Will it get you 15-20 leads per month ? It absolutely will, but the mindset is everything. Out of the 20 you get there is a good chance you will only get to talk to a few and in 3 months you will be in a position where you got in touch with i.e. 13 out your 60 leads and it will most definitely downgrade your opinion of online leads and change your mindset completely.
Going with $400 or more to begin with will go a long way, in 3 months well over 100 leads and if not a done deal already then definitely a few very serious leads in the pipeline.
I truly hope that this article will help as the suggestion I made above was only brought up to make sure you succeed and make a solid revenue stream by doing online lead generation.
We have the knowledge, we have the tools to make this work for you and be there along the way but we definitely need you to work with us as there is only so much we can do without you.
Thank you for taking the time to read this and I truly hope it helped at least a bit.