Brief:
- BoomTown, a B2B company that offers a real estate software platform, boosted its revenue by 20% and dropped its average cost per lead by 82% by using Invoca for Facebook, according to a case study provided to Mobile Marketer.
- BoomTown also achieved a 63% increase in call volume and a 35% surge in sales from call-generated leads after using the service for one quarter.
- Invoca for Facebook provided BoomTown with data and insights on the relationships between its Facebook ads and calls from customers. It also enabled the company to optimize its Facebook campaigns to increase phone calls and conversions.
Insight:
The success of BoomTown’s use of Invoca for Facebook demonstrates how brands can benefit from second-party data, as well as from combining information from two lead sources — in this case, phone calls and Facebook ads.
Before using Invoca for Facebook, BoomTown knew that most of its conversions came from phone calls and used Facebook to encourage leads to pick up the phone. While it knew that ads resulted in sales, the company lacked detailed data on its campaigns. Invoca For Facebook provided BoomTown with information that allowed it to see which Facebook ads generated the most calls so it could optimize its efforts.
As marketing channels diversify, data collection becomes more complicated. To understand campaign data, marketers must be able to link insights from multiple channels. Second-party data provides the marketer with data they wouldn’t otherwise have access to with just first-party data. It also allows them more control over the information and transparency throughout the process than third-party data would.
As important as social media is in marketing, for some sectors, like real estate, channels such as phone calls still generate a significant portion of conversions. Industries such as real estate will likely continue to focus more on combining insights from digital marketing channels with non-digital sales methods, such as phone calls to increase conversions and ROI.
