02 May Case Study: How Alex Phillis Luxury Real Estate Partnered With BidPixel To Kiss Print Media Goodbye
Alex Phillis Luxury Real Estate is, as the name sounds, a luxury high-end real estate agency on the Gold Coast catering to waterfront properties and both on and off-market listings.
They’re a little bit different when it comes to real estate agencies.
There’s no listings in a window front. There are no agents knocking on Doors. They don’t over value and under deliver on expectations and heck, they don’t even have a shop front!
These are all the makings of real estate agent late in this century.
The other remarkable thing about what Alex Phillis luxury real estate is doing, Is the fact that they do absolutely no Print Media advertising.
And why would they. They’ve never got a return on it. It costs a fortune, and it’s not reactively in front of people’s faces when they’re ready to consume the information.
Alex himself knew that he needed to be online and digital in this day and age. He wanted a partner who could be reactive, who was understanding of this vendor’s target market and he needed someone to build good demographics and buyer personas to get these high-end properties in front of the right people.
BidPixel is exactly that for him. We use all the hyper targeting that comes with Facebook’s 273,000 touch points, to build out buyer personas for every single property that he has listed. With this granular information, we are ensuring that the ads we create are only ever getting served to the people who are actually interested in and can afford one of these bespoke properties.
The beauty about using Facebook advertising is that we are serving this ad content to hyper-targeted consumers when they’re ready to see it. We don’t have to wait for a Saturday morning newspaper to come out.
So what have we actually done?
⭐ Lead generation National, Local and Expat for listings
⭐ Listing awareness campaigns
⭐ Video campaigns
⭐ New listing lead generation
⭐ Sold campaigns with lead generation for neighbouring properties
Potential High Net Worth Buyers across 9 campaigns
Cost Per Thousand (CPM)
Click Through Rate (CTR)
Increase in organic page traffic
Increase in video views
Read Alex's Testimonial (click to expand)
I made a decision very early in the stages of building our brand that I didn’t want to do high end real estate sales within traditional boundaries.
I needed to partner with an agency that understood exactly where I wanted to be and where I wanted to go.
The thing is with real estate, we need a funnel working really well and we need new listings coming in and maximum new enquiries on any advertising.
It’s not rocket science, but real estate sales really are a funnel.
New leads in the top (whether they are buyers or sellers), a progression through qualification and then property sales out the bottom.
Working with the team at Bid Pixel we are able to be reactive on each property campaign, focusing detailed targeting for each property around a granular buyer persona.
With most of our listings being over the two-million-dollar price range in a luxury and highly sought-after area of the Gold Coast, we need to make sure that the implementation of our advertising is polished.
Video is at the top of our funnel with our buyer persona’s being segmented into audiences based on how much of a property video they watch. Bid Pixel define anyone that’s watched 75% or more of a given video as interested enough to garner more information. This strategy sees us segmenting down our initial audience with not only a high accuracy but also an extremely low cost per acquisition. In most instances, we are serving video views to highly-targeted potential buyers for under $0.06 per view.
Liam from Bid Pixel likens this to a dating analogy. “You don’t swipe right on tinder and ask a person to marry you. Instead, you court a date and woo them leading up to an exchange of information and eventually a date” (or property inspection). Only once this courtship is mutual, do we then target our audiences to ask for their hand in a property purchase so to speak.
The second stage after the initial video view campaigns is when we begin to serve ads asking for information. Our lead generation is quite simple – follow up the video campaign with an ad containing multiple images or videos of the property and a link through to either a lead generation form contained in Facebook or a bespoke landing page that contains the same call to action and imagery as the ad for continuity.
We are prestige real estate agents! We are good at selling houses! We don’t want to know the ins and outs of a Facebook marketing campaign, we just want to know that our marketing dollar is going as far and as targeted, as possible.
Bid Pixel gives us that confidence.
We have spent $5000 on a one day print media ad in the local newspaper and receive zero inquiries and then when we spend $1400 on a month-long campaign within Facebook, reaching 35,500 highly-targeted individuals, we know where we want to put our money because the data informs us of the successes.