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Fortnightly Update Jan 21
Jan 13 - Jan 19
Search
As mentioned last report, the start of the year saw a spike in searches.
This in turn increased costs, and therefore we focussed on reducing spend in line with budget this week.
Surrounding Suburb keywords were paused - which have ran at higher CPLs historically.
The only exception being terms relating to 'Brighton' specifically.
Our Location traffic remains consistent.
Interestingly though, brand traffic has doubled this week - possibly suggesting some more demand for the project.
No leads were achieved from Search again this week.
Social
Social continues to be our lead driver.
We saw 5 leads this week , up from 2.
Our CPL fell from $130 to $115 as a result.
As usual, we saw the strongest results from the lead form campaign, with 4 leads at a $90 CPL.
This compares to 1 lead at a $230 CPL for website.
Notably, the property intenders have performed best once again, receiving 4 of the leads at a $80 CPL.
Our Lookalikes audience, on the other hand, hasn't converted since early December.
We have therefore passed this audience.
Finally, looking at creatives - we commented last report that all leads were coming from our Exterior image.
Interestingly, the Kitchen asset achieved 2 leads this week, at the best $50 CPL.
Exterior received 3 leads still, but at a $160 CPL.
We'll keep an eye on this to potentially pause.
Edit Response
Fortnightly Update Jan 15
Dec 30 - Jan 12
Social
Following the Dec budget downweight, we have seen both spend and traffic decreasing by 20% this fortnight.
Despite this, we have seen leads increasing from 3 to 5 FoF!
This sits at a $115 CPL, which is a 50% decrease from the previous fortnight.
Notably, all leads came from the lead form campaign, performing at a strong $70 CPL.
On 09/01, we have shifted some budget out of the lookalikes and the HNW suburbs audiences, reallocating to the property intenders which performed at the most cost efficient CPL.
We've continued to see the property intenders performing best this fortnight, achieving 3 leads at a $80 CPL.
This compares to 2 leads at a $115 CPL for the HNW suburbs targeting.
In terms of creatives, we saw all leads coming from the Exterior asset, at a $100 CPL - however, only $80 of the total spent was allocated to the kitchen render by Meta.
Looking at copy variations, 'Timeless sophistication...' has received the best results, with 4 leads at a $90 CPL - compared to 1 lead at a $225 CPL for the 'luxury opportunity for buyers...' copy.
Notably, we have seen the same trend since the start of Dec, with the 'Timeless' copy variation performing at a $165 CPL, compared to $510.
Therefore, we have paused the 'luxury opportunity' copy.
Search
Towards the end of December, we have seen very low search volume for our search terms, which caused a slight under pace.
With search volume coming back at the start of January - which we typically see during that period with more people online and less competition - and making up for the under pace last month, we saw spend and traffic increasing by 290%.
1 lead was achieved from brand terms!
This compares to 0 last fortnight.
Edit Response
Fortnightly Update Dec 17
Dec 2 - Dec 15
Social
As suspected, since Black Friday sales, our cost to serve ads have become cheaper, with CPM lowering 30%.
Even more positively though, leads improved by 80%! From 5 to 9.
This comes from a few social optimisations.
As chatted, we duplicated our campaigns to try force a 2nd wind.
On top of this, we added a new Advantage+ audience with some select HNW suburbs. Since activating on Dec 5th, we've seen 2 leads from this audience at a $170 CPL.
Our original Property Intenders audience had stronger results though, with 4 leads at $90 CPL.
We therefore might pause the new test audience if continues to underperform.
We have already paused retargeting at our new spend level, as it was previously running at the highest CPL.
These optimisations have seen CPL drop from $385 to $140.
Looking at creative, our Kitchen and Exterior ads both ran at a $130 CPL.
The bedroom GIF, however, has failed to convert this month, so we have paused this asset.
Search
In line with budget, Search spend also fell, more slightly, by 20%.
To reduced pacing we have needed to pause Surrounding Suburbs terms - and are now showing brand and Elwood searches only.
No leads were achieved on search this fortnight.
Edit Response
Fortnightly Update Dec 2
Nov 18 - Dec 1
Social
Despite us increasing spend, the amount of ads shown has remained consistent this fortnight.
Notably, we've seen it become more expensive to show ads during the Black Friday period (CPM rising by 40%), with more advertisers on Meta.
Leads have unfortunately dropped during this competitive period too, from 10 to 5.
We'd expect CPM and CPL to reduce in the coming week - and have already seen 2 leads yesterday after Cyber Monday.
On top of Black Friday/Cyber Monday though, we also increased price point on ads on Nov 22, from $1.7M to $1.9M - which could also be causing an increase in CPL.
Is there still stock below the $1.9M range? Opposing to what we discussed last catch up, if lead volume is a priority, perhaps we revert back to the cheaper price point?
To also try and improve lead volume, we have paused our bedroom gif asset - as it hasn't converted in the last 30 days.
Additionally, we rotated in the new Kitchen photography on Nov 21. It has only achieved 1 lead since then, but will monitor how this performs after BFCM.
Search
Spend and traffic doubled from last period, following the budget upweight.
Notably, we pushed bids for location and surrounding suburbs terms which performed well historically.
As a result, surrounding suburbs contributed to 60% of the total traffic, mainly from St Kilda and Brighton apartments searches.
Location also generated 35% of traffic.
Brand traffic remained consistent from last fortnight, but did not convert (compared to 1 last fortnight).
No leads were achieved on search this fortnight.
Edit Response
Fortnightly Update Nov 19
Nov 4 - Nov 17
Social
This fortnight's lead volume doubled, going from 5 to 10!
This comes after the budget upweight on 12/11, as well as our optimisations last fortnight.
Notably, our lead form campaign rose from 1 to 9 leads, at a strong $80 CPL.
The website campaign, on the other end, only achieved 1 lead at a $590 CPL.
Therefore, we have allocated more budget to the lead form campaign, to capitalise on the strong results.
In terms of creatives, the Exterior achieved all the leads at a $110 CPL.
The bedroom gif has not achieved any leads after a $200 spend.
We will monitor closely and pause this creative if this trend continues.
Search
Spend rose by 20% this fortnight, due to the budget upweight on 12/11.
Traffic remained consistent FoF though.
This is because we pushed bids for location and surrounding suburbs terms, which are more competitive, and therefore, have a higher CPC.
1 lead was achieved this fortnight, coming from brand terms.
Edit Response
Fortnightly Update Nov 4
Oct 21 - Nov 3
Social:
Due to reduced budget, fortnightly spend has dropped 30%.
Clicks on ads have fallen by a similar portion.
Due to this, lead volume has also reduced from 10 to 5 (50%).
On top of the spend decrease, our Lead Form CPL has risen significantly this week.
While usually stronger than the website campaign, our LF ran at a CPL close to $700 (compared to $120 last week).
Most notably, our Property Intenders audience failed to convert, despite $400 spend - and typically running at a $90 CPL.
To try boost results, we have paused one of our audiences at our lower spend levels.
On top of this, we paused our weakest copy variation "Discover Como by Mckimm - running at a $330 CPL.
This compares to $170 CPL across "Timeless Sophistication.
More recently, on the 29th, we have reduced a new variation, "a luxury opportunity for buyers". Since then, we have already seen 3 leads at a strong $100 CPL.
Search:
Search spend has dropped 60% this period.
Clicks have also fallen in line with this, by 55%.
Leads unfortunately have dropped from 4 to 0 too.
This would largely be dictated by spend, close to $300 a fortnight. With average CPL sitting close to $300, it will therefore be expected to see 1 or no leads each period.
We are continuing to feed the majority of traffic through Surrounding Suburbs terms, which have converted best historically though, to try generate enquiry.
We have particularly pushed St Kilda & Brighton.
Edit Response
Fortnightly Update Oct 8
Sep 23 - Oct 6
Social:
As chatted, optimisations have focused on reducing lead volume, to improve quality.
Leads have therefore dropped from 32 to 18.
Notably, across the LF, we raised price range and added a written response question to further qualify leads.
On top of this, we've placed price in headline (instead of primary text), to be more prominent.
Despite additional barrier, the conversion rate of our lead form remains strong at 3% (similar to average) - and has achieved 6 leads, since these updates on Wednesday.
It would be great to hear feedback on these recent leads.
Finally, looking to creative, the Exterior Render is performing at the stronger CPL of $70 - compared to $190 across the interior GIF.
We've therefore paused this variation.
Instead, we could trial the attached 2 & 3 bed focussed GIF.
Search:
Traffic remains consistent this period, with nearly 500 clicks to site.
Optimisations this period have paused broad generic terms (such as "apartments for sale").
Instead, we have pushed Location and Surrounding Suburb terms (eg "Elwood apartments for sale"), as they have converted historically.
1 lead was achieved this week, coming from these terms - specifically Brighton Apartments.
Positively too, brand terms continue its rise in search volume with over 20% more clicks.
Edit Response
Fortnightly Update Sep 24
Sep 9 - Sep 22
Social:
After a bit of a spike in spend after introducing the LF ads, spend has lowered slightly this fortnight - by 20%.
Clicks have decreased by the same portion.
Leads have therefore also fallen, from 52 to 32.
Our intention has also been to lessen volume, at the benefit of quality - adding 'from $1.7M' to ad copy.
After feedback of enquiring running lower than this, I'd recommend trialling this price in the headline (opposed to primary text) to make more obvious.
Our LF questions also start with budget range "$1.5M - $2M" - so perhaps we edit this to start at $1.7M too.
Finally, looking to creative, we added in the new animated gif into rotation this fortnight.
Since starting on the 11th, it's run at a $100 CPL (compared to $60 across the exterior).
Its yet to be 2 weeks though, so we'll continue to monitor these results, to potentially pause and rotate in a new creative variation.
Search:
Search failed to receive a conversion this fortnight.
Despite this, spend and traffic remains consistent, with nearly 500 clicks to site.
Notably though, we've seen less searches from our Location and Surrounding Suburb terms, which have historically driven our conversions.
Clicks from these terms has fallen by nearly 20%. No leads were achieved from these terms either.
Optimisations this week will therefore focus on pushing these keywords.
Positively though, we have seen greater search volume for brand terms - with clicks rising by 30%.
Edit Response
Fortnightly Update Sep 10
Aug 26 - Sep 8
Social:
Social continues to perform strongly, doubling from 26 to 52 this fortnight!
Driving this is our Lead Form ads, generating 40 leads.
Notably, in noting the success of our Property Intender targeting, optimisations last week increased budget weighting from 30% to 45%.
This saw the audience's leads jump from 14 to 24.
It still runs at the best CPL of $20 (compared to $50 amongst Lookalikes). We will therefore be further pushing budget here.
Interestingly though, Lookalikes targeting performs stronger across our web campaign, so have kept spend levels constant there.
Finally, looking to creative, our Exterior image continues to perform best. Since August this creative has run at a $30 CPL (compared to $50 across the kitchen variation).
Due to this, we would recommend pausing the Kitchen variation and rotation a new version in instead.
We still have our
Animated ad
unused and think it would be worthwhile testing.
Search:
Search leads have jumped significantly from 1 to 7!
As mentioned in last report, optimisations focussed on pushing bids on Location and Surrounding Suburb terms.
In doing so, the makeup of spend from these campaigns have risen from 75% to 90% of total weekly spend.
As a result, 3 leads came from searches for "Elwood Apartments", 3 from "Hampton Apartments" and 1 from Elsternwick.
We will continue pushing these. Continuing to be our priority, we may pause generic terms to use that budget.
Overall, CPL dell by 70% this week, from $690 to $180.
Edit Response
Fortnightly Update Aug 27
Aug 19 - Aug 25
Social:
Social leads have more than doubled, from 10 to 26!
Notably, the introduction of Lead Form has contributed to this, with 19 leads this week.
LF runs at a very strong $40 CPL.
This compares to $120 across website.
It would therefore be great to hear how quality of the in-app form leads compares, to see if it's worth shifting more budget here (away from website).
Also across Lead Form, our Property Intender audience, received 15 of the 19 leads - and have upweighted this targeting further.
In terms of creatives, The Exterior Image resulted in the most leads with 17.
Search:
Lead remains consistent WoW with 1 achieved from Search this week.
As mentioned in last report, optimisations have focussed on prioritising location terms (mentioning Elwood specifically) - as this is what has converted historically. Followed by Surrounding Suburbs
Instead, we have lowered bids on generic term, dropping the portion of weekly spend from 30% to 15%.
In doing so, overall CPL has reduced by 20% this week - as we bid more on more specific terms.
As a result, this week's lead also came from a Surrounding Suburb term, 'apartments for sale Brighton'.
Edit Response
Fortnightly Update Aug 20
Aug 5 - Aug 19
Social:
Social leads increased from 6 to 9 this week.
Ads are running at a very cost effective CPL of $60!
Driving the charge is our Lookalikes targeting, contributing to 7 of these.
This audience is running at the best CPL of $50 too, and are therefore pushing more spend into this audience.
Lead Form ads were also added on the 16th.
1 lead was achieved in its first 3 days.
Being new though, the campaign is likely in the learning phase (and hence we've restricted spend here).
Likely exiting this soon (and increasing spend), we should see results improve strongly Week on Week.
Finally, looking to creative, the most leads (7) come from our exterior render (opposed to Kitchen image).
Search:
1 lead was achieved from Search again this week.
Search spend and traffic has increased slightly this week, by 10%.
Notably, we've seen Generic and Surrounding Suburbs receive more clicks.
Interestingly, while search volume has remained constant, engagement from people searching for Hampton specifically has had a strong rise.
Despite this, our Elwood location terms continue to be our lead driver with 1 again this week.
These terms are proving to be quite competitive, with REA and Domain being major players in auctions. (meaning we need to pay more per click)
We are therefore focussing on increasing bids this week (while lowering elsewhere to remain in budget) to try and improve our weekly lead volume.
To date, the majority of traffic and clicks has come from our generic terms and surrounding suburbs.
While this is likely aiding brand awareness of the project, it's potentially raising our CPL across Search.
Edit Response
Fortnightly Update Aug 5
Jul 22 - Aug 4
Search
The campaign started on 22/07, so this was the first full fortnight of activity.
Just over 500 clicks to the website were received from that activity, along with 4 leads.
The bulk of the traffic came from generic terms, which contributed to 45% of the total clicks.
1 lead was achieved from generic for the search term 'apartments for sale'.
This is closely followed by surrounding suburbs search terms (mainly St Kilda, Brighton and Hampton), contributing to 35% of the total clicks.
Location terms (including Elwood in the search) contributed to 20% of the traffic, but achieved most of the leads (3).
Following the strong results for Location terms, we have pushed bids for those terms.
Lastly, we have seen 9 clicks from people specifically looking for Como apartments - We expect brand traffic should increase over the next few weeks as awareness of the project grows.
Social
This was also the first full fortnight of social activity.
The ads contributed to about 650 clicks to the website.
10 leads were achieved at a strong $100 CPL.
Notably, our lookalike audience achieved the most leads (7) at a strong $60 CPL.
This compares to 2 leads at a $300 CPL for the property intenders - we have shifted budget out of that audience to reallocate to the lookalikes.
The retargeting audience achieved 1 lead at a $40 CPL.
In terms of creatives, the Kitchen asset has performed best, achieving 5 leads at a $70 CPL.
This compares to 5 leads at a $120 CPL for the exterior asset.
Edit Response
First Update
19 Jul - 25 Jul
Search
Activity went live on 22/07.
Since then, it has spent just over $200, contributing to 150 clicks to the website.
2 leads were achieved within the first few days of activity, sitting at a strong $100 CPL. We are pleased to see a strong start of the campaign as we typically see CPL on search sitting around $200-$300.
Both leads came from the search term 'Elwood apartments for sale'.
With the campaign only started, we are making adjustments daily and pushing bids to be more competitive and appear higher up the page.
Therefore, we should see spend increase over the next few days, in line with the budget.
Social
The social ads went live on 19/07.
It has spent just over $300, achieving 250 clicks to the website.
2 leads were achieved, at a $160 CPL - here again we are happy to see good results so far, as we typically aim to stay under a $200 CPL for website campaigns.
We should see overall CPL decreasing once the lead form campaign starts.
Notably, both leads were achieved from the Exterior creative.
In terms of targeting, our lookalike audience has performed at a very strong $30 CPL - we have allocated more budget towards that audience.
We will keep monitoring and make adjustments and optimising as the campaign progresses.
Edit Response
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