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One London Road Case Study - 500+ Qualified Leads for less than 30 CPL
Client Background
We were approached by a client, One London Road, a luxury real estate development in London with 1, 2, and 3-bedroom flats. The units received minimal interest after being listed on the market during preconstruction.
They had heard about another successful luxury real estate advertising project that we had run and were impressed with our results. They wanted us to help them build out a successful advertising campaign so they could attract buyers outside of the typical listing sites and gain. The goal was to get more exposure and ultimately more qualified leads.
Omnichannel Advertising Strategy for Luxury Real Estate
InterTeam developed an omnichannel advertising strategy for the real estate development. and content for Google and Facebook ads, targeting various audiences. We had experience running Google Ads for preconstruction Real Estate developments in the past and knew exactly what we needed to do.
We targeted luxury apartment buyers with Google Ads for our top of marketing funnel strategy and then retargeted people who had interacted with our ads, but didn't sign up for an apartment viewing with ads showing them images and videos of the apartments on Google display, Google discovery, and YouTube. We then set up a small advertising budget for retargeting ads on Facebook and Instagram.
To generate leads within a tight monthly budget of £2,000, we created a highly targeted Google Ads strategy targeting only keywords that showed a high degree of purchase intent. Examples of high intent keywords would be "luxury apartments for sale in London" or "luxury flats for sale in London".
Last, we created custom landing pages for the development. These landing pages were keyword optimized, lowering our cost per click on Google to the minimum and conversion optimized as well, allowing for the highest conversion rate possible so wecan achieve the lowest cost per lead.
We also developed an Investor Guide to attract potential investors. Engaging image and video creatives were produced to educate potential leads about One London Road.
Results
From July through September, our campaign successfully generated three quality leads per day at less than £25 per lead.
The clickthrough and conversion rates for the search ads exceeded industry averages, demonstrating the effectiveness of our approach.
Here's a look at some of the results our advertising campaigns were able to generate:
Search Ad Clickthrough Rate: 13.2% (Industry Average: 2.47%)
Search Ad Conversion Rate: 4.68% (Industry Average: 3.71%)
Overall Cost per Lead (CPL): £24.21 (Industry Average: £101)
Total Leads Generated: 234
Booked Viewings: 131
Cost per Booked Viewing: £24.91
Conclusion
The project was highly successful and InterTeam's advertising campaigns were their best lead generation platform for getting potential buyers.
In total, we generated 234 leads, and 131 booked viewings, indicating a strong level of interest from potential buyers.
The overall CPL of £24.21 was significantly lower than the industry average of £101.
Additionally, we developed really strong bonds and friendships with the agents and team we worked with. It was a memorable experience and one that we're very proud of!
