Case Study: Flyhomes & Meta
22% increase in MQLs
Flyhomes is a real estate company that has simplified home buying and home selling through an all-inclusive service that integrates local experts and specialized agents. They offer unique services for homeowners like Flyhomes Cash Offer and Buy Before You Sell.
Challenge
Flyhomes faced creative fatigue due to long-term use of the same generic imagery in their Facebook & Instagram ads, leading to diminished resonance with their audience.
- Although they were using localized ad copy, it failed to deeply engage their target market.
- Lead volume and cost per lead were higher than the cost per conversion in Google ads.
- Click-through rates were down.
Taken together, this suggests that ads were not resonating with their target audience like they once had.
The creative department decided to revamp their ad creative in hopes of reducing their cost-per-marking-qualified-lead (CPMQL) and cost-per-activated-lead (CPA). They also hoped these new campaigns would give them a better sense of what types of creative were performing the best in each market.
Strategy
With a focus on reducing the CPMQL and CPA, our strategy aimed to increase leads, MQLs, and activations. By combining Flyhomes’ local ad copy with new unique, localized visual content, we hoped to see a boost in CTR and conversions that would turn into high-quality leads relative to each market.
We categorized dozens of new ad imagery created by Flyhomes into key themes, which reflected different geographical areas a buyer would want to live in, such as city skylines, suburban landscapes, and waterfront views.
After testing a few new images and themes, we noted which ads performed the best and then added new creative to test against the top performers. We also conducted a monthly analysis at the market level to determine which ad type, messaging, and creative themes performed the best, and compared campaign performance data to the previous year to determine if we were reducing costs.
The new campaigns yielded a notable 22% surge in MQLs, a 48% drop in CPMQL, a 9% boost in activations, and a significant 42% decrease in CPA. It’s worth noting that these optimizations occurred despite a 36% reduction in ad spend, period over period.
*Activated leads are people who are actively touring homes with a flyhomes agent.
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