On the 30th of July 2020, we launched targeted digital campaigns for The Urbizen with the ultimate goal of generating high-quality leads to the website (enquiry form submissions). These campaigns ran for the duration of three months and produced outstanding results across Google, Instagram and Facebook. Greatly contributing to the overall success of the development.
Since the commencement of the digital campaigns for Facebook and Instagram, our ads were triggered 445,097 times and registered 9,867 clicks back to the website. This occurred at an average cost per click of $0.70 and an average click-through rate of 2.22%.
More importantly, we generated 539 leads across the three month period. This is especially notable as this number does not include phone calls; therefore, the lead number is likely to be much higher. In the first month, we generated 335 conversions from these campaigns – A testament to the high-quality targeting and copy.
To put this in perspective, the industry average for Real Estate is $1.81 (average cost per click) and 0.99% (average click-through rate). The Facebook campaigns resulted in an average cost per click that was 88.45% lower and a 76.64% higher click-through rate than the industry average.
During the three months these campaigns were running, we launched 23 different campaigns and 52 different ad variations. This is an example of the level of detail and optimisation we use within our campaigns to ensure they are performing at their very best. Consistently updating the messaging to create urgency on the remaining stock.
We ran a number of split test experiments to see which renders performed the best and resonated with the target audience. This included tests to see whether the external, patio or interior renders registered the most leads.
For example, in one of the first campaigns, we ran two ads testing a patio and an external render. The external render registered 103 leads and the patio render registered 80 leads. Ultimately, the patio render was paused to optimise the budget and focus it on the higher-performing ad. This ensures we are using high-quality imagery that grabs the target audience’s attention.
Within Facebook and Instagram, we set up different campaigns targeting key buyer profiles based on the target market that was identified for the development. We launched two main campaigns. A general campaign with targeted messaging crafted and tailored for first home buyers and downsizers. Separately, we also ran investor campaigns.
The investor campaigns were an integral aspect of the digital campaigns. Separate campaigns allowed us to create specific messaging for this demographic including prominent attributes of the location, rental yield and capital growth. As a result, we received an average click-through rate that was 113.91% higher than the industry average for real estate.
Through Google Ads, we launched three main campaigns. The first was a targeted suburbs campaign. The second campaign targeted competing developments. The third and final campaign targeted the Mt Eden region.
The targeted suburb campaign focused on surrounding suburbs including Kingsland, Newmarket, Eden Terrace, Grey Lynn, Ponsonby, Waterview, Point Chevalier and Mt Albert. During this time, the ads were triggered 422 times which resulted in 62 clicks back to the website. This occurred at an average cost per click of $3.64 and an average click-through rate of 14.69%. From this campaign, we registered 2 conversions (enquiry form submissions).
The competitor campaigns were designed to bid on the keywords associated with nearby competing developments including Kokihi Apartments, Eden View Apartments and Enfield Apartments. These campaigns resulted in 405 impressions and 68 clicks back to the website. This took place at an average cost per click of $1.20 and an average click-through rate of 16.79%. As a result, we registered 5 conversions.
The final campaign we implemented focused on the Mt Eden region (in which The Urbizen is located in). This targeted those searching for apartments, new builds or developments within Mt Eden. During this time, the campaign was triggered 999 times and generated 253 clicks back to the website at an average cost per click of $3.26 and an average click-through rate of 25.33%. Through this campaign, we generated 9 conversions.
Overall, the digital campaigns accounted for 75.83% of all new users to the site and 75.53% of all leads over the three-month period. Combined, the Facebook, Instagram and Google campaigns were the biggest acquisition drivers to the website for both leads and new users.
The success of these campaigns can be largely attributed to a high level of specialised targeting, high-quality renders and well-written copy that generated urgency. Significant emphasis was focused on optimisation, innovation and creativity. This could be witnessed throughout the duration of the campaigns as we consistently updated the messaging and changed the targeting to create exceptional results.
This – combined with a well-rounded, collaborative effort between the developers, Barfoot & Thompson and our highly experienced digital team – led to the development selling down in just over three months.
The digital campaigns and results achieved for The Urbizen exemplify the importance of digital marketing and the role it plays in marketing property developments.