Setting up contextual advertising with the property industry in mind
The property market is a highly competitive niche in which leads have historically been expensive to acquire. Such characteristics require companies to allocate marketing budgets clearly, especially in the context of cost optimisation due to global economic problems. It is important to realise that the success of a marketing strategy depends on the right tools. An effective way to do this is through a well-thought-out contextual advertising strategy, allowing you to get the maximum return without incurring unnecessary costs.
Another feature of the property market is the long transaction cycle. Buyers can spend a long time looking for a property and sifting through many offers. Some will already know the developer’s name or a particular project. The rest will not. In this case, it is essential to develop separate advertising strategies for these categories of potential buyers. Specialists recommend creating advertising campaigns for two purposes:
1. Increase awareness. Advertising focuses on attracting as many users as possible to the site to learn about the company’s advantages and evaluate the property itself. In this case, the keywords are general queries, for example, a flat in a new building, in a certain area and others.
2. Advertising messages for consumers looking for specific properties. These users have already visited the site, familiarised themselves with the listings and selected a particular property. Now, they need to be encouraged to make a purchase with the help of retargeting tools.
In this way, the promotion will work at two sales funnel stages, ensuring an excellent reach to potential customers.
Analyse the target audience to create the ad
An important point to consider is audience segmentation. To distinguish different categories of buyers in the property market, you can use User Story – creating a buyer’s story. In this case, individual consumers’ characteristics are specified, including the reasons for looking for a home, social status, age and others. This will allow you to understand the customer better and find the best way to communicate with them.
Screening out ineffective categories of site users deserves special attention. For example, some users may visit the site frequently and spend a lot of time looking at items. However, they do not perform any targeted actions: they do not leave contact details for contact, and they do not call. They are most likely estate agents looking for properties for clients. Setting up contextual advertising for such users will only waste your budget, so you need to filter out the category of site visitors who show high activity without taking any further action. For analysis, it is convenient to use various services, such as Google Analytics, which measures the dependency of conversions on the number of visits.
Once the target audience has been studied and segmented, you can move on to creating creative. They must be in line with the UTP and reflect its main propositions.