When placing digital media ads, a simple 3-step approach achieves the best results for targeting home shoppers.
Not all media targeting should be created equal.
After all, targeting home shoppers is not like targeting, say, shoe shoppers. Anyone could potentially be shopping for shoes - since we all wear them. But determining if someone is in the market to buy a home requires more data points than just "people who have feet." Obviously you need a different paid advertising strategy. So in a world of big data how do home builders know where to place their digital media ads to reach the intended target?
The answer is in Bokka's 3-step targeting approach:
- Retarget users who have already shown interest by visiting your site, or already exist in your Customer Relationship Management (CRM) database. This allows you to stay in front of and create additional touch points with self-qualified leads.
- While your CRM list and website retargeting are serving display ads to audiences already familiar with your company, new look-a-like audiences can be created from shared attributes. So now you are also targeting new audiences who share similarities to leads already in your funnel.
- Target predictive mover segments within your target market and from both online/offline data. At Bokka, we leverage an industry enterprise solution to determine and capture these segments so marketing dollars are spent on shoppers who are most likely to move.
This 3 step approach to digital media targeting works:
We tested our home shopper-focused targeting strategy with a Colorado home builder, placing digital display banners with the following results:
- In 2019, this builder was using traditional media targeting. The average conversion rate from impression to visit on their banners were 0.19%
- Since moving to a smarter 3-step targeting strategy in 2020, their conversion rate jumped 326% (impression-to-visit conversion rate increased to 0.81%)
Obviously results can vary depending on market, demand, price point, etc. But we've seen similar results from this 3 step digital media placement approach for other builders as well. If you're like others in home builder marketing, you're looking for ways to broaden the top of the funnel (attract more web site traffic) while making sure that new traffic is qualified, and not just searching for new shoes.
Give this 3 step approach a shot. If you need some help, or have questions about how we do it. Just reach out - we'd love to talk.