Related Companies is a privately-owned real estate firm with a worldwide portfolio of properties valued at over $20 billion. Their US-based luxury rental market includes 25 properties that provide distinctive apartments in premier locations. Related Companies approached Smart Panda Labs seeking a more efficient PPC strategy that would drive more qualified leads—at a better value—for their luxury rentals.
Implementing A More Efficient PPC Strategy
Our smart pandas took over Related Rentals’ entire luxury rental PPC campaign, beginning with a full audit of their existing PPC efforts. Our pandas discovered a digital strategy in disarray. The company’s existing Google ads, for example, were positioned to drive maximum traffic by appearing when people searched very broadly for terms related to “luxury.” This unfortunately meant that their ads were appearing for unrelated keyword searches such as “used boats,” “high end pet salons” and “gas fire pits.”
Strategy: We began to revamp the entire strategy in order to deliver more qualified leads—and at a lower cost. Unlike many agencies that charge their clients based on a percentage of their marketing budget, Smart Panda Labs charges a flat fee, incentivizing us to increase ROI, not ad spend. Treating our client’s money as if it were our own, we designed a more targeted PPC strategy that would focus on strong ad copy, optimized landing pages and more narrowly defined search terms. We also created a robust list of negative keywords that would prevent ads from appearing on unrelated searches, such as pet or taxi services.
Funnel: We wrote all new ads and included site links, structured snippets, property locations and call extensions to enhance the ads as well as take up more “real estate” in the search engine results. Next, we looked at how we could not only improve the relevancy of the ads, but the user experience after the click. We designed more than 40 customized landing pages that reinforced the language used in the specific ads. These landing
pages promoted amenities relevant to the specific search and included direct calls to action and contact information.
Tests: Our team tested our assumptions by pitting various PPC ads and landing page versions against each other; the data from these A/B tests enabled us to optimize both the ads and the corresponding landing pages in an ongoing way.
Reports: We also created robust custom reports to help identify trends and provide insights into their marketing program, as well as recommended reporting solutions that can provide even deeper insights into their digital strategy performance.
Quick, Ever-Improving Results
Our team provided a complete transformation of Related’s pay-per-click strategy, rebuilding their Google search campaigns, reducing cost, and drastically improving quality and conversion rates. The results were quick, and they keep improving.
For example, during the first full month after the changes were implemented (May), performance for Related’s Los Angeles property saw an 803% increase in click through rate. Meanwhile, the cost per click decreased by 32%.
Additionally, when we compared year over year, the drastically improved PPC campaign for Related’s US luxury rentals had resulted in:
- A 52% decrease in impressions due to a more targeted approach
- A 101% increase in the average click through rate
- A 26% decrease in ad spend
- A 24% decrease in cost per click
- A 154% increase in conversions
- A 66% decrease in cost per acquisition
Our team continues to manage more than 16,000 keywords and 1,500 versions of ad copy for this client, optimizing the campaign strategy every step of the way to ensure extraordinary ROI for this client.