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Case Study: Luxury Real Estate PPC

Project

Challenge.

Visiture was challenged with taking over PPC management for a major luxury real estate development company.  The company was unhappy with their current PPC provider’s performance in the previous year, and sought significant improvement.
The overall company goals in order of priority were to:

  1. Increase land purchases
  2. Increase built product purchases
  3. Encourage real estate brokerage

Results
Achieved.

416%

Increase in Conversion Rate

19.34%

Decrease in Spend

87.33%

Decrease in Cost Per Conversion

Our Tactics
& Goals.

With these in mind, Visiture employed search engine marketing best practices and in-house strategies to drive online conversions & phone calls, while spending an allocated monthly budget efficiently.

In order to improve account performance, Visiture employed a variety of tactics and optimizations to the luxury real estate company’s Adwords account. Not only were structural changes made to aid in budget management and allocation, but ad copy and ad extensions were optimized to better convey the company’s benefits while driving users to convert on-site or call the real estate office directly.

Visiture Strategy & Execution.

Below is a list of the steps taken to improve Adwords performance:

1) Account Restructure: Visiture immediately implemented a complete account restructure. By isolating top priority keywords with an account structure of campaigns tiered by importance, Visiture was able to expand exposure and create more efficient spending at the same time. Match type and keyword funneling strategies allowed for precise control on a granular level, as well as, search query discovery without compromising cost-per-acquisition. Organizing keywords into more segmented campaigns, allowed us to expand coverage into new geographic regions & better control all targeting options.

2) Ad Copy Optimization: Not only did the account restructure allow for greater coverage and increased conversions, but it also gave Visiture the ability to cater ad copy to keywords. In addition to writing more relevant ads, Visiture also better represented our client’s luxury properties and amenities.

3) Ad Extension Development:

a. Call Extensions: One of the major changes made in 2013 was the use of ad extensions in ad copy to drive phone calls. In both ads above, the phone number for the real estate office is prominently displayed, and calls to this number are tracked both through Adwords and call tracking software.

b. Sitelink Extensions: Also apparent in the above ads are sitelink extensions containing links to the Real Estate site. Sitelinks allow our client more ways to describe their offerings and to promote land releases and promotions.

c. Image Extensions: Google’s newest extensions allow advertisers to provide accompanying imagery to their ads. Below is a screenshot of a current ad containing image extensions.

4) Mobile Strategy Implementation: The previous mobile campaign contained only non-branded keywords and made up 0.58% of spend in 2012. Given the prominence of mobile activity both this year and last, Visiture opted all campaigns into mobile search on Google. https://www.visiture.com/our-work/luxury-real-estate-ppc-case-study/ https://www.visiture.com/our-work/luxury-real-estate-ppc-case-study/As a result, 222 of the 348 tracked calls originated from a caller on a mobile device.

5) Remarketing Execution

Current Strategy

Audience Segmentation: Visiture is targeting both users who have visited the client website and also those who have visited the real estate pages specifically. These two segments are broken out in different ad groups, and we are bidding more aggressively towards users who have shown interest in real estate as they are further down the purchase funnel.
Ad Format Segmentation: In addition to audience segmentation, we have also broken out ad groups by ad format. User behavior with image ads and text ads are very different, and by separating these ads into different ad groups we can more clearly see ad performance and optimize more efficiently. Inventory also varies greatly between image ads and text ads, and by running both ad formats, we are able to take advantage of more “real estate” on sites across the Google Display Network.
Insights Gathered

Total Ads Served: 1,635,536
Total Clicks/Visits to the site: 3,799
Total Conversions from Clicks on Ads: 18
*Some customers might see, but not click, your ad. If these customers later convert, this metric counts them as view-through conversions.

6) Launch of Display Prospecting Campaigns: In July of 2013, Visiture implemented a Display strategy to reach new consumers and introduce them to our client’s company. The strategy included both contextual targeting (showing ads on pages of websites with real estate content) & placement targeting (running ads on sites that cater to their target demographic (forbes.com, Zillow.com, etc.)

% New Visits: 91% (in comparison, Search campaigns generally produce 49.04% new visits)

7) Conversion Tracking Expansion: In addition to phone call conversions, Visiture implemented on-site tracking to distinguish between multiple conversions types available to website visitors. Below is a breakout of the types of conversions tracked in 2013

8) Phone Call/Search Query Mining: In order to better understand the consumer set, Visiture mined phone calls and user search queries bi-weekly. Information gathered was utilized to optimize various aspects of the Adwords account.

513.56%

Increase in Conversions YOY

35.53%

Decrease in Average CPC

$30,435.24

Total Ad Spend

758

Total Conversions

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Stephanie Bregman

Director Of Marketing

"Visiture has been an integral part of not only growing our business but helping to save our business during a time of crisis of switching over shopping cart platforms. They were able to help us stop the bleed and show us how we should properly look at data so that we can stay within our margins and spread our dollars out to other online advertising avenues that we hadn't tried before"