If you are a real estate business owner, it is best for you to leverage the power of online media for marketing your services. Why? It is predicted that real estate ad spend will reach up to $41.4 billion by 2024, with 77% being accounted to online media. The stats clearly highlight the necessity of online media channels for marketing real estate.
When it comes to online media channels, Facebook is the best place to start with up to 2.4 billion monthly active users as your potential audience. Moreover, the social network also offers some great tools to advertisers.
Check out the following case studies of real estate companies that gained massive success by leveraging Facebook for their business growth.
1) Dubai Properties
Run Time:
October 2019 to January 2020
Target Region and Audience:
UAE and Saudi Arabia
Performance:
The augmented reality video ads run by the property firm to attract users turned out to be the best bait. The highly immersive ad campaign delivered remarkable results, like 17% of the web leads become qualified leads at the end of the campaign.
Goal:
The primary goal of the real estate firm was to make people aware of their new waterside La Vie residences. They wanted users to take an interest in the property and generate leads based on that. These leads were meant to be converted into sales by the firm’s telesales team.
Approach and Buyer’s Journey:
To get maximum output from their ad campaign, the property firm focused on providing the interested users with a virtual tour of the La Vie residences. For this, they partnered with the media agency Magna MENA.
At the beginning of the campaign, the firm used reach and frequency buying to show video ads to the audience of the UAE and Saudi Arabia. Post this, when 3/4th of the audience was reached, the augmented ads were launched to provide users with a better and immersive experience (virtual tour). The virtual tour was activated by the user’s eye blink.
When the required audience was reached, the brand released lead ads and page posts. These were intended for users who were interested in the services. They were supposed to complete a form based on which they were contacted by the Dubai Properties sales team to discuss further details about their preferences.
Results:
The three months ad campaign yielded awesome results for the firm. Dubai Properties witnessed:
● 50% of the units were sold in the first two weeks of the campaign.
● 2.2 million people were reached with AR ads.
● 17% of the web leads became qualified leads.
Products Used:
Lead Ads, Instagram, AR Ads, Custom Audiences
2) McCarthy & Stone
Run Time:
June - November 2019
Target Region and Audience:
UK, Ages over 55 years
Performance:
The leading developer and manager of UK retirement communities once again used Facebook ads to generate sales leads. The state of the art campaign undertaken by the firm attracted 4.3X more sales as compared to the previous year.
Goal:
Motivated by their previous experience on Facebook, the real estate development firm wanted to use Facebook ads for generating quality leads this time.
Approach and Buyer’s Journey:
The brand did not make any major changes to its ad campaign for generating leads. They just used the images of the exterior of the property rather than computer-generated images to drive leads. These had better click-through rates.
In the initial phase, the brand used carousel and photo ads. These ads were targeted to women and men of the UK above the age of 55 years. Moreover, they also retargeted those who visited the website. Apart from the carousel and photo ads, the brand also harnessed dynamic real estate ads that served up all the inventory shown on the website.
By running these ads in the Facebook feeds, McCarthy & Stone analyzed which ads performed the best. The ads in the carousel format included a “Learn More” option that acted as the CTA for the users.
The Result:
McCarthy & Stone benefitted a lot from the crafted Facebook ad campaign. The firm saw:
● 2X lower cost/lead for prospecting campaigns with real estate ads.
● 2X lower cost/lead for retargeting campaigns with real estate ads.
● 4.3X more sales leads as compared to the previous year.
Products Used:
Photo ads, Core audiences, Custom audiences.
3) HomeMatching
Run Time:
March 2019 - February 2020
Target Region and Audience:
Netherlands
Performance:
The performance of the year-long campaign undertaken by HomeMatching was off the charts. The use of simplistic photo and carousel ads acted as the masterstroke for the brand. HomeMatching registered a 2X boost in the userbase along with a 95% lower cost per acquisition.
Goal:
Backed by carousel and photo ads, HomeMatching aimed at widening its userbase by boosting sign-ups for its service.
Approach and Buyer’s Journey:
The motive to boost the conversion rates acted as the catalyst in creating an innovative approach for the firm. For this, they roped in PauwR Digital Marketing Agency.
Unlike traditional methods, the digital marketing agency suggested working on a single campaign. This was done to help Facebook algorithms in finding the right people. The firm created an ad campaign based on this and ran carousel and photo ads for one year to get the best results.
As far as the targeting is concerned, these ads were targeted to a broad and interest-based audience. Moreover, custom audiences, those who interacted with the previous ads, were also targeted along with lookalike audiences. The follow-up phase saw retargeting ads to those who visited the website. All this was done to nudge the viewers to sign up for the free service.
Other than this, HomeMatching used automatic placements to prioritise the placement of ads. Besides, the campaign budget optimisation tool was also used to assign a maximum budget to the best performing ads. The ”Sign Up” button was included in the ad as a CTA.
Results:
The year-long ad campaign bought massive results for the brand at the end, such as:
● An increase of 208X in registrations as compared to the previous period.
● 95% lower cost per acquisition.
● Over 21,000 registrations
● An increase of 2X in the userbase.
Products:
Carousel ads, Photo ads, Automatic placements, Lookalike audiences
Are you excited to create your own ad campaign?
Real Estate, while being the most valuable sector for investment, is also very competitive. Hence, when you look at the above-described case studies, don’t think that it is a smooth sailing journey of two months or a year. It takes a lot more than that to design your ad campaign.
First off, due to the competitive market, it is necessary to keep your ad campaign absolutely unique. Moreover, it is essential to do your homework like researching your competitors and audience. Lastly, just like the described brands, it is necessary to unpack all the Facebook tools and know which one will be the best for you. With that - you will be able to design a killer ad campaign.
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