A powerful new technology designed by Norwegian firm CCT exclusively for Raine & Horne, Amplify, uses Artificial Intelligence and machine learning technology to market property advertisements across the key social media platforms.
The oversized two-bedroom apartment at 405/72-74 Gordon Crescent, Lane Cove, which was listed with leading agent Alex Banning, Director of Raine & Horne Lane Cove, sold well before its 3 April 2020 auction date for $945,000.
The price was about $100,000 above expectation due to the massive number of enquiries the hyper-targeted digital marketing platform Amplify generated.
Mr Banning said, “Each Amplify ad cleverly targets buyers based on their online profile and behaviours, with up to 72 different ad variants generated.
“What I also like about Amplify is that it attracts plenty of out of area buyers. They may be looking at Gladesville or Artarmon and may not have Lane Cove on their radar.
“Amplify has a very ingenious algorithm that focusses on a buyer’s trigger points rather than the location, which can help generate more interest in a property and buyer urgency.”
To illustrate, an apartment in the same block with a similar floor plan was sold by a different agent for $850,000 in late February.
“With the assistance of Amplify, our vendor’s apartment attracted 96 groups to open homes with 12 contracts taken and ultimately, there were five genuine buyers making offers before a contract was exchanged at $945,000.
“Amplify is a real point of difference for our network, which this result overwhelmingly demonstrates.”
The campaign reached about 1,800 genuine buyers and achieved a clickthrough rate of 20% when the industry average is closer to 5%. Moreover, most of the interested parties who clicked through to the listing on the Raine & Horne Lane Cove website, spent an average of nearly 6.5 minutes examining the property.”
“For an outlay of $680, which is a fraction of the fees charged by the property portals, the vendor attracted a target group of buyers with the assistance of Amplify and a fantastic sale many weeks before auction.”
The Amplify point of difference
Launched in 2018, Amplify attracts more active and passive buyers, sellers and tenants, boosts listing exposure and generates better results according to Angus Raine, Executive Chairman, Raine & Horne.
“This technology is exclusive to Raine & Horne and has increased our website traffic by an extraordinary 1,100%.
“Amplify is directly responsible for generating more than 2,500 sales listing leads for our agents. And savvy vendors recognise the massive reach of social and search marketing platform and how it can produce great sales results such $945,000 for 405/72-74 Gordon Crescent, Lane Cove in record time.”
Apart from the massive boost in website foot traffic since 2018, Amplify has exposed the Raine & Horne brand to an astonishing 128 million screens in Australia and across the globe.
“Amplify is directly responsible for almost 290,000 shares and likes for our property listings on social media,” said Mr Raine.
State of the art dashboard
Amplify’s popularity is also due to the platforms’ straightforward dashboard that provides real-time analytics and performance data that enables vendors to follow the campaign across devices easily, Mr Banning added.
“I’m just delighted to be involved in the 20,000th Amplify campaign, which has helped to deliver a premium result for my vendor.”