Contrary to what e-age optimists would like to believe, real estate builders have not met with much success in selling their properties directly online. This reality, whether in part or substantially, is linked to the conventional approach to house hunting or investing in property.
Our Client, House of Hiranandani (HOH) is a leading conglomerate in the real estate industry in India. The group has built innovative self-reliant housing projects in India on a large scale and have added Retail, Hospitality, Healthcare, Education and Entertainment to their expansion plans. With a unique approach to engineering, planning and design, the House of Hiranandani group invests heavily in research and development to ensure they remain at the forefront of value engineering and design.
HOH approached us with a need to publicize their properties situated in a particular geographical location as they wanted to reach out to their target audience in an effective way with the right messaging to achieve direct sales. All this at a lower cost per lead and cost per acquisition.
Nevertheless, as their digital agency we suggested they test ‘Facebook’. We believed Social Media had really come into its own as an engagement option not just for individuals but also businesses operating on all scales.
We viewed Facebook as a platform that would drive engagement with the brand and generate leads for direct sales. The online campaign contributed significantly to business:
32% of total online sales of flats in units
Consumed 10.62% of total budget of online marketing spends
65.69% lower cost per lead than other advertising platforms
41.44% of total traffic contribution
37.12% of total leads contribution
1.32x higher conversion rate than other advertising platforms.
The question is how did we achieve this?
To answer that, read on.
House of Hiranandani (HOH) first viewed Facebook as an engagement based platform. We ran page ‘Like’ campaigns to build a follower base of the HOH page. We also simultaneously started promoting FB page posts to reach a wider audience. The photo page posts and the link page posts were extensively used. The photo page posts showcased HOH properties, construction updates and amenities. The link page posts were used to share the various instalment schemes/payment options that HOH offered.
Facebook’s targeting options for lead generation seemed a viable choice for HOH and us at Iksula.
We first tested the platform focusing on lead generation for HOH’s lower priced properties. Results were promising in the initial phase itself. This encouraged HOH to increase their budget and start promoting their premium properties as well. We used News Feed Placements to divert traffic to the HOH website, which targeted variety of audiences with relevant messaging. The integration of targeting audiences on the basis of interests (Broad: Real estate, property, investment etc; Precise: Creative real estate investing, luxury real estate, Better Homes and Gardens Real Estate etc.), location and demographic (age, gender) gave very good results.
Also, through Facebook’s connection targeting, HOH could reach fans and friends of fans effectively. To measure the effectiveness of ads, we installed the conversion tracking pixel on HOH’s website to track the number of leads from a certain property and from a certain location. Using conversion data, we optimized the campaigns on the basis of cost per lead and invested monies in desired proportion to get desired number of leads. Targeting the right people using Facebook ad products like News Feed ads, Photo Page Posts, Link Page posts, conversion pixels and the Optimized CPM bidding model greatly improved HOH’s campaign’s results.
We have expanded HOH’s reach by targeting foreign countries like the US, UAE and Singapore. The results have been encouraging and have resulted in the generation of potential buyer leads even from overseas. Our experience of using Facebook to generate real estate leads and achieve direct sales has been very encouraging.
In summary, if you want to generate leads for real estate or generate a direct sale for your product, the Facebook platform cannot be ignored.
So, that’s how we did it. If you are reading this, it means you are still here. Let us know your thoughts or queries you might have.
You can even stop by at our website to learn more about us and our services.