Dubai based property management company leveraged IQ data's custom audiences to drive rental units occupancy rates.
In a city which is facing an ongoing oversupply in new residential units coming onto the market, a Dubai based property management company was challenged with increasing rental units occupancy rates and had struggled to improve advertising lead generation beyond facebook’s standard targeting practices. The facebook ecosystem has been saturated advertising by property developers and other competitors vying for the same residents.
"We needed to explore data-driven tactics as a means to improve our facebook advertising results as they had stagnated due to increased real estate market competition."
IQ data in partnership with the client's agency identified and geo-fenced relevant communities across Dubai to identify local neighborhood residents and regular visitors for targeting. IQ data matched these audiences with nearby commercial hubs and focused on younger demographic groups who have a higher propensity to seek rentals that matched the property management company's unit types. This resulted in more granular audience segments that were onboarded into facebook for targeting, look-a-like modeling and optimized each group against lead generation benchmarks.
The IQ data audience segments resulted in a 19% Increase in leads generated when compared to standard facebook and instagram native targeting tactics. Moreover, the conversion rates of these leads into rented units was more than double the previous benchmarks. By combining IQ data segments alongside facebook's native advertising capabilities, the results improved considerably.