How We Generated Fresh & Quality Real Estate Leads for less than $1
The Anatomy of a High Converting Real Estate Campaign That Generates Leads
Creatives & Copy at the end of post
Real estate is one of the best ways of growing and keeping wealth. It's a lucrative industry, and highly profitable for both the real estate agents and the prospects. But finding potential customers for a real estate business seems to be an issue — and this is largely due to the high level of competition in the industry.
By now, you probably know that Facebook is one of the best platforms that help you find your target customers. With billions of active users, a fraction of that figure will likely be interested in your offering, regardless of your physical location.
This proves to be true as 0penny has helped a fast-growing real estate developer in India to generate leads for their real estate projects. And all these leads were found on the Facebook platform.
About the client:
Access to affordable ultra-luxury flats seems to be an issue for residents within Delhi. With the large number of people trooping from north and south India, affordable luxury flats are sure ways to help job seekers maintain a relatively good living standard — and that's where Prime Homes and Developers come in.
By merely paying a relatively small down payment, residents within the Delhi region could be on their way to buying and owning a property — and that's more preferable than opting to pay monthly rent. Since the flats are somewhat close to the metro station, the person could easily commute to their workplace without the stress that comes with going through Delhi's horrendous traffic jams.
Prime Homes and Developers real estate has an incredibly good offer, but generating leads for their agency was not rosy. And that is largely due to the large number of real estate agencies that have the same service offering. A large number of similar service offerings from different agencies breeds competition — and that's what customers enjoy. Competition translates to choices, and choices mean options. And that gives customers power — the power of walking away.
In the next section, you'd discover the problems encountered during the process of generating leads for the Prime Homes and Developers real estate agency.
Penetrating a new industry is hard. It takes lots of work, and it's almost impossible for businesses with a mediocre marketing team. Speaking of a marketing team, you need a team that has a good grasp of Facebook. But agencies like Prime Homes and Developers find it quite difficult because they are new to Facebook, and pretty much have no understanding of how the market works.
But how can they penetrate an industry without knowing how to market their offerings? Well, that's one of the problems new agencies like Prime Homes and Developers face. It's one thing to have a valuable offering that solves the needs of your potential customers, and it's another thing to market such an offer to your target audience. And yes, if you can't market your offer, then you'd probably not generate many sales.
Speaking of marketing offerings, new businesses just like Prime Homes and Developers do struggle with deciding whether to opt for a landing page to generate leads on Facebook.
The next big problem is targeting. Prime Homes and Developers target a very specific demographic. Low-income male folks who are looking for an affordable property within the Delhi region. Ideally, the customer persona is people who are looking to transition from a rented apartment to owning a property. And as such, they need to have a substantial monthly income — somewhere around the border of 50k INR monthly.
Furthermore, the target audience is working-class people who desire to own a property that's close to their workplace. That is, they get easy to and fro movement from their homes to their workplace.
Aside from their targeting problems, Prime Homes and Developers have no backend or funnel system in place to follow up with leads. Running a strong campaign without a backend and follow-up system is probably a waste of time and resources. Why? Because customers hardly ever buy the first time they see your brand offering. Research shows that customers typically buy from a brand after hearing or seeing the brand offers at least seven times.
Simply put, you need to always be in front of the target audience so your brand comes to mind when it's time to make a buying decision — and that's why you need a strong brand. For effective branding, you need to put together a high converting campaign and a robust backend follow-up system. Prime Homes and Developers were lacking in both — and that was a huge problem!
Well, after inviting the team of veteran marketers at 0penny, some challenges were encountered during launching a high-converting campaign for the real estate agency. Here are some of the challenges you should know of.
The Challenges & their Solutions:
Upstaging the Competition
First, there is the challenge of fierce competition. There are lots of real estate companies within the Delhi region, and they all have similar offerings. The question is, why will a customer opt for Prime Homes and Developers instead of any of the competition? The answer to this question pretty much sums up the client's unique value proposition, and that's what sets it apart from the competition.
When it comes to real estate projects in the Delhi region, Prime Homes and Developers is an honest brand, and they've got lots of friendly terms for the buyer.
Pricing & Value-Positioning
There is also the issue of pricing. Unlike other agencies that are merely resellers, Prime Homes and Developers is a direct builder — and that translates to better pricing. Customers who buy real estate properties from Prime Homes and Developers are at an advantage in terms of project pricing. They'd get better deals for a competitive price, and that's not guaranteed elsewhere.
Therefore, the team at 0penny had to position the Prime Homes and Developers brand as an honest, trustworthy brand that offers friendly terms for its buyers.
Client Can’t Handle the Leads
When the campaign was fully launched, the client couldn't handle the number of leads that were being generated — and that's a good challenge to have. However, if you can't deliver on your promise, it won't take long before the word spreads, and everyone in the industry becomes wary of your brand.
To curb this from happening, the team at 0penny had to limit the pace of the campaign. The goal is to generate enough results for Prime Homes and Developers. That implies driving in the exact quantity the brand could handle. Nothing more, nothing less!
One way that was achieved is by running ads on a budget. And the ad gives enough room for optimization.
During the campaign, here are some processes that were followed.
Speaking their language
The first step is to figure out if there will be any barriers in communications. Since the target customers are found around the Delhi region, it would be best to communicate using the local lingo, terms, and vernacular languages. Reports show that the dominant spoken language in Delhi-NCR is Hindi — and that was the most preferred language for the campaign.
After coming up with the most preferred mode of communication, the marketing team had to showcase the unique value proposition of the client. In this case, the cost comes in. Prime Homes and Developers offers ultra-luxury flats at an affordable price. Customers get to own a property without breaking the bank — and that was communicated throughout the campaign.
Aside from the pricing, other desirable features were showcased to the target audience. Easy connectivity to the Metro area and the ease of buying an ultra-luxury home as a low-income earner is sure to tickle the customer's fancy — and Prime Homes and Developers can deliver on such promises.
Total leads: 356
Audience Location: Delhi, India
Amount Spent: 17,540INR
Cost per lead: 49.27INR
Sell Your Offering Using Your Unique Value Proposition
Real estate is a fiercely competitive industry. To stand out from the competition, you need to come up with a sleek offering, and pretty much know how to confidently communicate your unique value proposition to your customers.
If these two are settled, you need to reach out to an experienced team of marketers to help position your brand in front of the right people — and that's where 0penny comes in.
0-Penny Case Studies is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.