About the Company
Respect Real Estate specializes in selling apartments and villas in Northern Cyprus. They approached us with a request to generate new leads to close 7 deals per month. It’s an interesting yet challenging task, as the sales process can take up to 3 months. Quite a challenge, isn’t it?
The good news is regarding the conditions and prices. The company offers excellent installment plans and rental purchase options. The average price for an apartment near the Mediterranean Sea is around £100,000. Moreover, Northern Cyprus is currently a popular country for investments, and the company offers a residency permit as a bonus with real estate purchases.
Objective
Respect Real Estate had two different offers—one for investors and the other for those looking to buy property for personal use.
We proposed advertising through three channels—Google, Facebook, and VK—to reach the target audience. This way, we could reach both investors seeking investment opportunities and a broader audience looking for a new place to live.
Execution
In this case, the main conversion goal was a completed form submission (CPA). Additionally, the highest-quality leads were those who requested price information or expressed immediate interest in visiting Northern Cyprus.
First Month
The most crucial aspect was identifying the target audience. There aren’t many people willing to invest £60,000 or more in real estate. Based on previous purchases, we knew the target audience was located in Germany, Austria, Turkey, the Baltic states, and Georgia.
The first challenge we encountered was a temporary Facebook block due to unsuitable topics. If the ad contained any mention of investments, we had to be prepared for such restrictions.
Therefore, we conducted extensive testing of creatives and offers. Our copywriters and designers developed creatives that passed moderation and performed well.
Social media campaigns were not as effective in the first month, generating only 20 inquiries.
Google performed slightly better. Our PPC specialists started with broad keywords such as «buy a new apartment,» «real estate investments,» «how to get housing in Northern Cyprus.» By the end of the month, we had more targeted keywords and phrases, including «property,» «residence,» and «apartment purchase websites.»
The downside with Google was that the volume of targeted traffic was limited. However, it was highly relevant, resulting in only 59 completed form submissions per month. Although not a large number, the CPA was excellent for this niche.
VK
Spent budget — $771
Clicks — 3,472
Conversions — 24
CPA — $32.2
Spent budget — $772
Clicks — 3,939
Conversions — 118
CPA — $6.5
Spent budget — $1,523.97
Clicks — 4,376
Conversions — 59
CPA — $23
Second Month
During this period, we finally saw good results from social media campaigns. We optimized the creatives, and the constant blocks ceased.
In Google Ads, we started testing specific property offers. Since apartments showed better sales results, we focused on this segment. We also targeted people who had shown intent to visit Northern Cyprus. This hypothesis resulted in better click-to-form submission conversion rates.
As a result, we began to receive slightly more targeted leads.
In total, the company sold 16 properties over the course of six months.
