Advertiser: Sime Darby Property Brand: Sime Darby Property Creative Agency: MINDSHARE MALAYSIA Credits: -
Objective & Challenge
Sime Darby Property (SDP) is a renowned for its high-quality township developments, primarily catering to the affluent homebuyers. For the first time, SDP launched SERASI an affordable development, targeting mid-income segment. The challenges: 1. We had to launch 507 units in a single-phase which is significantly higher than the typical single-phase launch where the number of units are below 300. 2. The location of the development is in Putra Heights. Despite the suburban charm of Putra Heights which is considered a relatively less exciting township. 3. Pricing of the units starts from RM365K which is 27% higher than competitors development at the vicinity. The agency’s goal was to achieve a 80% sellout for phase-one, 507 units.
Insight & Strategy
Although Serasi’s price range starts from RM365,000, the lowest pricing compared to all other SDP launched, the price point still 27% higher than competitors in the vicinity. We need to create desirability to court the potential buyers. Who is our media target audience? • Utilizing the agency’s proprietary survey panel (10,000 respondents), we identified first-time homebuyers’ psychological profiles, their preferences and aspirations for their dream home. Hence, the focus of the communication shifted from price and basic attributes to highlighting desirable amenities, room functionality, and proximity to public transport to emphasize Serasi’s unmatched quality within its price range. These insights are ingested into prospecting platforms such as meta and google for media activation. • Given the location proximity of Putra Height to government offices within 10km radius, we used geo-location data to identify government employees which became an attractive segment for SDP because of easy approval of loans with better interest rates. Hence driving quality leads. • Using SDPs 1st Party Data, we identified high concentration of property investors in neighboring township such as USJ, Subang Jaya and Shah Alam, who are attracted to potential rental yield in a Transport-Oriented Development. Data Usage Strategy in Media Activation: By breaking down homebuyers across three strategic groups – 6 audience segments. 1. First-time homebuyers – newly married, young family, living alone 2. Government servants 3. Investors – invest for rent and invest for family. Deep insights were gained about their purchase motivation, touchpoints, messaging preferences, and specific features that is of interest to the target. A mapping tool was built to quantify and prioritize these groups, providing a framework for tailored creative messaging. • 3rd Party Data: Based on the identified segments, additional insights from 3rd party data were overlaid to enrich target group profiles. • 2nd Party Data: Geo-fencing and mobile device matching were employed to link individual results to browsing behavior, enabling the creation of government servant segment and bespoke audience remarketing segments. • 1st Party Data: Collaborating with the client’s data team, potential property investors and second-generation homebuyers within the catchment area were identified to create look-alike audience profiles. Optimization through Martech Integration: Leads generated are captured by SDP’s Salesforce system, accessed by the sales team to validate lead quality in real-time. Lead quality reports are shared with the agency for optimization and fine-tuning investments by audience, platforms, and channels.
Our bespoke audience segmentation framework enabled us to serve tailored creatives aligned with homebuying motivations. We also used it to build lookalike audiences at scale. Using multiple creatives for personalized messaging: Deploying over 47 creatives on Meta platform for hyper-personalization was challenging. To address this, we developed a tracking system integrated with Salesforce to optimize creative messaging for different audience segments. Geofencing strategies to drive showroom traffic: Geofencing customers within a 2km radius from our showroom and out-of-home ad locations allowed us to serve targeted ads as they entered the catchment areas, maximizing campaign impact. Using Martech and AI for optimization We optimize ad messaging based on the 6 segments intention to buy the property. To achieve this, we utilized an intent scoring framework that incorporated signals such as page visits, dwell time, and page views. These signals were weighted using a machine learning algorithm, enabling us to retarget visitors with customized creative messaging and generate high-quality leads. Furthermore, the integration with Salesforce’s quality reporting was implemented through proper naming conventions and UTM tags on the lead forms and digital media activities, which allowed us to achieve end-to-end attribution down to the creative and segment levels. This integration represents a significant milestone for SDP campaign personalization, providing valuable insights and enhancing our ability to track and analyze performance accurately, taking corrective timely action.
*507 units gone in 60 minutes *Note: The source of booking for the 507 units are from: • High-purchase-intent leads with validated ID and payment details prior to the open day for booking = 90% of 507 units (450 units) • SDP’s Prime Members and Internal reserved units = 10% (51 units) SDP’s Serasi development achieved 100% – 507 units sold-out within the first hour of open booking, how did we achieve this: • Generated 2,043 leads from 1st Nov 2022 – 2nd Feb 2023 • Generated high-purchase-intent leads of 72% (1,471 leads) vs. SDP’s benchmark of 40%, indicating the effectiveness of our precise targeting and messaging. • Significant improvement on conversion rate. 450 leads converted to sales which is 31% vs. SDP’s benchmark 4%. Clearly our personalized messaging and optimized user journey worked. • Increased Cost-Efficiency with 56% reduction in Cost-per-Lead (CPL) – Achieved CPL of RM66 vs. RM150 internal SDP benchmark. • The remaining 1,021 high-intent leads who registered and turned up not knowing that all units were sold out within the 1 hour, expressed interest for the Phase-2 launch. Other achievement includes: • Our geo-fencing strategy and specific event ads drove 2,832 potential homebuyers to the sales gallery, allowing them to experience the Serasi development firsthand and further solidifying their interest. In summary, we successfully broke into a new market segment for SDP with Serasi development and demonstrated the power of leveraging data analytics and advanced digital techniques for the real estate industry.