Real Estate Lead Generation and Recruitment Campaign
Real Estate Case Study Summary
2022 was a tough year around the world, and Australian real estate was no different.
According to CoreLogic’s data in September 2022, Australia’s property market continues to decline as interest rates hit. Despite all this, we still had a steady run with lead generation and positive conversion rates.
The Client:
Ironfish South Yarra, a property investment provider based here in Melbourne, Australia sought us out to help them market their new project launches and get leads for their branch.
They were also interested in recruiting bi-lingual speaking, highly driven individuals as their property investment strategists to help them grow the business.
The Results:
Real Estate: Through a targeted 9-month Facebook paid ad campaign, we generated over 352 real estate leads at an average Cost Per Lead of $47 across the board on different projects.
The lowest is at $14.10 per lead for a new project listed in a prime, in-built area of Melbourne. This goes to show the project that we take on has a huge impact as well on conversion and lead costs.
The positive conversion from all leads generated is at about 5%. Due to the sensitive nature of the projects, we aren’t able to disclose the earnings or pricing publicly.
Recruitment: Our campaigns were aimed at recruiting Mandarin or Vietnamese-speaking candidates to target the growing population of investors and migrants in Australia. We generated 65 candidates at $71 per submission and these team members made good sales numbers this year.
What are real estate leads?
A lead here is considered a potential customer or client that has the potential of buying our client’s off-the-plan properties. When lead generation strategies are done well, they can lead to an increase in not only revenue but brand awareness and authority.
Key highlights & observations:
We generally recommend clients have a strong omnichannel marketing strategy, including TOP OF FUNNEL strategies like webinars, MIDDLE OF FUNNEL direct property/project ad funnels, and BOTTOM OF FUNNEL Retargeting Strategies coupled with strong lead nurturing sequences.
However, given that the client's headquarter handles their webinars and pre-market events, we decided to be aggressive with our strategy and use Facebook ads as the main channel for driving real estate leads.
Facebook ads for real estate have seen a much higher-than-average conversion rate as the ads tend to be more direct and visually appealing. We have found the best way to get higher-intent clients is by going broad with the targeting and excluding certain audiences that aren’t our ideal market.
At the same time, retargeting serves a great purpose to get leads that have opted in to attend the pre-market launches. Given that property has a long decision-making cycle, it’s crucial that real estate agents stay front of mind throughout from research to sale.
Feel free to request a FREE strategy session so we can discuss your goals and find out if we are a good fit to help you.