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Case Study: Transforming Paid Search for a Luxury High-RiseTower
Challenge:
A luxury high-rise tower in pre-construction was facing significant challenges in converting leads through their paid search efforts.Despite a substantial monthly spend, the campaign's performance was underwhelming. An initial digital audit revealed a scattered budget across numerous underperforming campaigns, poorly constructed ads lacking in key assets, headlines, and descriptions, and a unproductive keyword strategy. Additionally, the original location targeting strategy was a shotgun approach, aimed at broadening reach in hopes of boosting conversions, rather than employing a meticulously targeted approach to ensure the message reached the ideal audience in optimal locations.
Solution:
Our first step was to conduct an in-depth digital audit to pinpoint inefficiencies and areas for improvement. We discovered that the budget was diluted across too many campaigns, with most ads rated as"poor" in strength due to incomplete creation and missing crucial components. We also identified a significant issue with ad duplication and incorrect conversion tracking, compounding the underperformance.
Recognizing the need for a strategic overhaul, we drastically reduced the campaign spread, focusing on quality over quantity and pausing those non-performing campaigns. We revamped the ad copy, drawing on the luxury tower's unique selling propositions(USPs) to craft compelling narratives and ensure relevant keywords were utilized both in the ads and landing pages. This approach mirrored the high standard of copywriting seen in other brand materials, ensuring consistency across all marketing channels. In addition, campaigns were restructured to focus on those campaign types proven to deliver results in the real estate market, revamped keywords and restructured the location targets.
Results:
The restructuring of the paid search strategy yielded remarkable results. Within three months:
· Monthly spend was reduced by 57.8%,demonstrating our philosophy of not throwing good money after bad.
· Conversions increased by 62.94%, a testament to the effectiveness of the streamlined campaigns and optimizations made throughout the account.
· Average Cost Per Click (CPC) decreased by 62%,further optimizing the budget and maximizing return on investment.
Conclusion:
This case study exemplifies the critical importance of a well-thought-out paid search strategy and the value of aligning digital marketing efforts with a brand's overall messaging and USPs. By taking a holistic and strategic approach to paid search, we were able to dramatically improve the performance of the luxury high-rise tower's campaign, turning previously underperforming assets into powerful tools for driving conversions and reducing costs. This transformation not only optimized the digital marketing spend but also reinforced the tower's luxury branding in the digital space, setting a new standard for excellence in digital advertising.