Background
NoBroker is a disruptive real estate platform that aims to simplify property transactions by eliminating intermediaries. Catering to both buyers and renters, the platform offers a user-friendly interface, a vast select of properties across India, & most importantly no brokerage fee! As part of its growth strategy, the brand sought to increase its brand awareness among premium buyers, the core demographic with spending capacity to buy/rent premium properties.
The Challenge
Despite being an innovative platform for property transactions, and gaining traction on its website engagement, NoBroker felt its brand recognition factor to be suboptimal. While visibility and engagement are the go-to metrics for evaluating branding success, brands often overlook a crucial factor- the audience who is being made aware of them. A million people knowing of Ferrari will not lead to a million sales of the car! Broad targeting strategies on popular advertising platforms like Meta/Google dilute the focus, with majority ads being shown to users lacking the intent or capacity to buy the said product, in the present or near future. These platforms prioritize broad audience coverage and lack the incentive to specifically target affluent buyers, as doing so cannibalizes their ad revenues. As a result, ads are frequently displayed to users who cannot invest in properties, leading to wasted impressions and inefficient ad spending. To address this, NoBroker required a more refined approach that would ensure its ads reached only the top 5% of Indians with discretionary purchasing power.
Xpert’s Approach
NoBroker partnered with Xpert to overcome these challenges by leveraging a data-driven targeting strategy designed for precision and impact. Using advanced data enrichment techniques, Xpert identified affluent individuals with the intent and capability to buy or rent premium properties. Xpert targeting ensures that Ads are exclusively shown to relevant prospects with genuine buying affinity. This guarantees that a brand’s ad budget is utilized in building repetition on the target segment instead of getting scattered over non-buyers. Thus ascertaining sustained visibility and reinforce brand awareness over time.
Results
Over a three-month period, NoBroker observed measurable improvements in its brand visibility and engagement among high-value customers. The targeted campaign enhanced brand recall among affluent buyers, translating to increased awareness. It significantly reduced ad spend wastage, improving the efficiency of the marketing budget. Additionally, it strengthened NoBroker’s positioning as the go-to platform for property transactions within the affluent segment.
Inferences & Insights
Precision targeting is vital for engaging niche, high-value audiences effectively, as demonstrated by NoBroker’s focus within the top 5% buyers. Sustained ad frequency among the right audience builds stronger brand recall and increases relevance over time. A refined, intent-driven approach minimizes ad spend wastage and amplifies the impact of marketing efforts, showcasing the importance of leveraging advanced audience insights for premium brands.