Getting the most out of Open Homes
Barnett Real Estate using the Plezzel platform to promote a few listings, the turnout to open homes increased by around 50 per cent!
During a 4-week campaign, we created 4 online advertisements targeting 2 different audiences. The targeting tools available on social media channels like Facebook and Instagram allowed us to reach the diverse segments interested in the property, from first home buyers to investors and developers.
We conducted A/B testing to measure the performance of the different ads and to optimise marketing expenditure.
These were the results after 3 days:
This data provided a clear victor, allowing us to achieve the best possible result by using the more effective ads. We closed Ad B down and reassigned the budget to the better performer.
We also looked at the quality of the traffic, finding that prospects were spending 89% longer on average viewing the property than the average visitor to the website. This data told us that visitors were genuinely interested in the property, that it was relevant to them and were spending time learning more about it.
With continuous monitoring and optimisation efforts during the campaign, we could ensure relevant traffic was driven to the website and that the best possible return on investment was achieved.
Jason Barnett was pleasantly surprised by the number of people who turned up to the first open for inspection, with each subsequent inspection generating more foot traffic and contracts of sale being requested by prospects on a regular basis. Jason noticed an average of 12 groups at each open for inspection with numbers staying consistent throughout the campaign.
This contrasts with usual results where there are normally big numbers at the start of the campaign but they drop off towards the end. This campaign generated big numbers more consistently because unlike traditional marketing methods, social media targeting reaches different buyers each week, bringing new prospects to each inspection.
On auction day, there was a good turnout and 4 active bidders. The property sold $11,000 above the reserve price the vendors had set and we achieved $6,500 more than the property next door which had sold a week earlier and had been recently renovated.
The vendors saved $2,500 by eliminating print advertising from their campaign while achieving a better result than the house next door. Another big win for REBconnect and social media targeting for selling property.
Jason Barnett – Director at Barnett Real Estate