Bringing value and results to our customers is of utmost importance to us. It makes us proud when we succeed in converting our clients’ feelings of disappointment and lack of motivation into enthusiasm and satisfaction as we build together the future they are striving to reach.
This is what happened with MyEstimate, a brilliant startup from Palermo that works on two fronts: training of real estate agents, and evaluation of online properties.
MyReport, one of many other wonderful products of MyEstimate, is a service that allows real estate agents to immediately obtain an evaluation for any property. Handily enough, the assessment is then processed into a 13-page report in PDF format that the agent can show the customer straight away.
This illustrates that the real estate valuation is based on solid data and precise analysis, providing answers to typical questions related to how the entire valuation is performed. This represents the most critical part when obtaining a sales assignment. Furthermore, the accuracy of the assessments is higher, while the price is lower than the offers from competitors.
A valid product, favorable price, and a concrete need that it solves. These are the foundations of success, right?
More or less. At first, things didn’t go as planned for MyReport, but with our intervention, the project started to fly. And here’s how everything went down.
MyEstimate is an innovative startup that helps real estate agents succeed thanks to sales, valuation, and negotiation – the most cutting-edge tools in the industry. From an operational standpoint, the company is based in Sicily, but its products and services are regularly purchased from all over Italy.
The great success of MyEstimate’s Info Product, a course that helps real estate agents stay up-to-date with the current most effective sales techniques, has allowed the development of a new service to serve the same niche. And here’s what we are going to talk about this time – MyReport, a bridge between the two businesses, linking commercial and real estate valuation together.
The main problem of any real estate agent when negotiating with a client is evaluation. The customer always wants to hear that he can get some decent cash from selling his house, while the real estate agent has to remain consistent with the true market value of the property.
MyReport is brilliant because it steps in as an “unbiased arbiter” in the real estate valuation discourse. Once the customer sees the long and detailed report, showing all data and factors taken into consideration, it’s just simply hard to argue.
One would think that such a tool costs at least € 500 a month, but it comes at a bit more than a Netflix subscription… After all, the commission of an agent on a sale easily goes beyond € 3,000, but this is not the case. Sales, therefore, or at least, in theory, should have been booming.
Once MyReport was launched, the service was promoted using Facebook. Despite the hard work and effort put into having this project kick-off, the end results were far from pleasing and the hope of seeing it truly take off started to fade with time. All the content, up to that moment, had been prepared directly by MyEstimate’s Team.
Although a few leads did arrive, the service was far from the possibility of seeing an economic return that it made no sense to keep the ads running. There were simply not enough leads, nor conversions. At this point, there were only two options: either surrender or change the strategy. MyEstimate got in touch with LetMeCopy and we started working together to improve the ad management.
The chosen medium for the campaign was Facebook, though at first, the customer preferred to keep his landing page active rather than ordering a new one. Our mission, at least initially, was to create winning announcements.
Before doing anything else, we dived a bit deeper into the world of real estate agents, discovering their most hidden needs and basically every possible lever with which to elevate MyReport in sales. It was indeed a thrilling task since it revealed how useful the service can be for the market it targets.
The advantages were various:
- Increased levels of customer loyalty
- Less lost contacts due to real estate valuation
- Immediate sense of extra-value compared to other agents
- Proven reliability of the obtained estimates
- Possibility to try the service out at a minimum cost (1 €) to get an idea before subscribing at the full price
We mixed all of these benefits in our ads and created graphics with sharply bright colors, which immediately caught the eye. In the meantime, Facebook had removed the 20% limit on the text of sponsored images which allowed us to be even more creative and play with the ads.
As always, instead of focusing on a single ad, we chose to test several and compare the obtained results. Each ad highlighted a particular advantage of the product and we also ran retargeting campaigns that display the testimonials of satisfied customers.
Putting Everything Into Practice
The day we turned on the ads, it was a bitter disappointment, no other way to put it. It’s true that there were some leads, but few. Way too few. Things were better off before our intervention, but there was obviously a limitation to the campaign that gave results a hard time to appear.
Despite having countless clicks, users did not bother giving the service a go. It felt as if there was a wall between the ads and the conversions, a barrier we managed to quickly identify – the landing page. We had already discussed the possibility of taking ownership and creating a completely new one, but from the beginning, we chose to experiment with the tools already available.
When it became clear that the landing page was the bottleneck in our sales system, MyEstimate’s Team did not hesitate much and directly commissioned us for a brand new and well-organized page.
The page that was initially used is the following:
All advantages and benefits, all levers, and all merits of the product are completely absent on this page. It’s hard to know what link you need to put, where to get it from, what’s left for answering why help a real estate agent be more successful. In a nutshell, it was a catastrophe that was turning potential customers away.
We decided to go with a page, optimized for mobile, which explains all advantages of the product in a clear manner and provides easy-to-follow instructions on how to test the service for only 1 euro. The new landing page is the one you see below:
Once the landing was changed, it did not take long for the results to arrive. And they were astounding. It was September 15, 2020, when we finally launched the final and definitive campaign version.
Someone who is into the real estate market might say “Perfect time, autumn is just around the corner when the market is more dynamic!”.
It’s a “Yes” and a “No”. Above all, we are talking about the year of the biggest pandemic from the last 100 that has brought the Italian real estate market down on its knees, a market already fragile enough even before the coronavirus kicked in.
Despite all challenges, we managed to strike 14 subscriptions per day with an average acquisition cost of € 8.15. 74% of all users renewed their subscriptions after a month and converted to stable followers, generating a great return, which at the point, is incalculable! Now is the time to scale, although clearly, the real estate agent niche is not infinite.
We enjoyed ourselves quite a bit working with MyEstimate and we are glad that aided this brilliant startup to grow. We are also positive that we will come back to talk more about the achieved success since this is only the beginning.