Online real estate marketplace DOM.RIA.com combines data-driven attribution with Smart Bidding to drive conversions at a lower cost.
Online marketplaces — websites or apps that facilitate purchases from many different sources — have taken e-commerce by storm. They offer convenient ways for buyers to compare and search for a variety of products and brands. And with this highly competitive business model, and the constantly changing inventory, it can be difficult for marketers to stay ahead.
DOM.RIA.com is Ukraine’s leading real estate operator, and part of the broader RIA.com online marketplaces — offering a variety of verified and credible services in the region. With over 200,000 listings, DOM.RIA.com was struggling to meet their conversion goals while maintaining a positive ROI. So they set out to get more from their investment by maximising campaign effectiveness and improving efficiency.
To do this, DOM.RIA.com first implemented a data-driven attribution model to get a more accurate view of media spend and campaign performance. By analysing interactions in campaigns and comparing the paths of customers who convert to those who don’t, the solution automatically applies a value to each action — across devices and channels — so you can clearly see which of your efforts provide clicks and conversions.
And if you use an automated bid strategy to drive more conversions, your bidding will use this important information to help you get results. DOM.RIA.com put the new insights to work by adopting automated bidding using AdWords’ Smart Bidding algorithms. After testing several variations, they went with Maximise Conversions strategy, which automatically sets bids to help get the most conversions for your campaign — while spending your budget.
Machine learning needs data to learn from. If it doesn’t have enough or it’s not specific, it will underperform. But with the attribution model and automated bidding in place, the system optimised media spend at scale and in real time. And equipped with more data, the Smart Bidding strategies could work with more precision.
By implementing the automated bidding strategy combined with the right attribution model and audience signals, DOM.RIA.com achieved overwhelming results. They saw 58% growth in conversions month over month, a 44% decrease in cost per conversion and a 12% decrease in overall campaign costs.
“At first, we did not believe in the effectiveness of automated strategies and were rather skeptical,” explains Kristina Tanska, Senior PPC Specialist at RIA.com. “We decided to try it and ultimately achieved results that exceeded all of our expectations.”
The considerable success of the campaign proved that automation was key to helping DOM.RIA.com reach their performance objectives. And it allowed them to allocate more advertising budget for other strategic long-term activities in Google Ads — with a goal of continuing to expand automation efforts and experiment more in the future.