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A new boost feature will see residential listings automatically promoted across display advertising and social media.
The ASX-listed portal has revealed that from 1 July 2024, its residential listings products Platinum Edge, Platinum, Gold and Silver will all include an “Audience Boost” feature, something the tech giant has called an “Australian first”.
It means property listings will reach beyond Domain users to people across Facebook, Instagram, as well as Google’s networks.
John Foong, who was recently promoted to chief commercial officer and managing director of agent experience, acknowledged the importance of never missing a buyer.
He explained that “adding Domain to a marketing schedule creates competition by reaching more buyers and our data shows the extraordinary effects of that on the final sold price”.
“On average nationally a $1 million property sold for $36,600 more when Domain was included on the marketing schedule alongside our nearest competitor,” he stated.
“The addition of the Audience Boost feature is another way we are finding more buyers and adding more value for our agents to get the best outcome.”
For Danielle Harmer, Domain’s general manager of product for agent experience, the new feature is “added value” for both agents and sellers.
“We know almost all agents include social media or digital marketing in their property marketing campaigns. We also know that it takes agencies time and money to do this. That’s why we’ve automated it and why it will be included as part of their paid listings subscriptions on Domain,” she shared.
According to Harmer, early insights from a Victorian pilot have shown promising early results.
Early adopter Angus Graham, the director of Hodges Sandringham, was one of the first to test the product ahead of the official launch, and said he has seen “significant” uptick in listing views, and subsequently, enquiries.
“Certainly just in the last week I’ve probably had better open numbers than I previously had. And I think we’re definitely seeing more inquiries from Domain,” Graham said.
“We always say that the more views you have, the more people you get through the front door, which in turn will lead to a better sales outcome.”
The new feature has been called a “market-leading innovation” by Meta’s William Easton.
Easton, who is Meta’s vice president and managing director, Australia and New Zealand, acknowledged Australians are now “spending more time on social media than ever before”.
“So when Domain said they wanted to change the game by building a deeper connection between Domain’s listings and Facebook and Instagram’s large and engaged audiences to reach high-potential buyers, we were proud to support their market-leading innovation,” he stated.
According to Harmer, “Domain is meeting its consumers where they are and in a targeted way”.
Flagging it’s not just “a spray-and-pray approach”, she explained that the unique value “comes from advanced targeting leveraging Domain’s exclusive audience data to help agents reach new buyers and retarget existing ones”.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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