LIV Achieves 60% Cheaper Cost per Lease for their New Property in Melbourne
About LIV Munro
LIV is a part of Mirvac that introduced Australia’s first property in the built-to-rent category. LIV buildings are designed with shared facilities including BBQ areas, co-working spaces, commercial kitchens and even dog-washing stations. Rocket’s initial campaign for LIV’s first property at Sydney Olympic Park was a roaring success, delivering 100% occupancy with record ROI on digital media. This celebrated campaign captured multiple awards on a local and international level.
LIV’s newest location, LIV Munro is located next to the Queen Victoria’s Market in Melbourne. LIV Munro delivers expansive living, working, relaxation and shared socialising spaces.
Challenge
Rocket was challenged to replicate the digital marketing success from the Sydney campaign for the LIV’s newest property in Melbourne. However, the new location meant a different audience and a different buyer’s journey.
LIV had gained some recognition as a brand since it’s initial launch, but the concept was not popular in Melbourne. The learnings from Sydney were useful, but not transferable. Moreover, many competitors had entered into the built-to-rent category.
All of this meant that Rocket couldn’t just replicate old tricks to guarantee success. Meticulous testing, analysis and optimisation was necessary to secure a baseline of ad performance. The goal however, remained the same - deliver 100% rental occupancy for LIV Munro.
Solution
Rocket worked in partnership with branding agency, Chello and LIV’s internal marketing team to deliver a clear and compelling creative strategy that paved the path of a cross-channel campaign. A five-pronged campaign persuaded a tighter target audience to make an enquiry and lease the newly launched property.
The campaigns were launched across Display, YouTube, Facebook, Instagram and Paid Search. The channel selection and audience segmentation was informed in part by what had previously worked while promoting LIV Indigo in Sydney. However, budget allocations and adjustments were significantly different, given that the brand had now been established with tenants in place and client stories to share.
- Campaign 1: Explainer - This education campaign was designed to build awareness and generate leads by introducing the full brand proposition via explainer videos. The complicated value proposition was broken down into a simple video that was easy to relate.
- Campaign 2: Toby - This unique creative concept introduced a canvas bag called “Toby” to establish brand positioning via a character. The ads influenced the target audience to associate LIV with a specific set of attributes to foster choice.
- Campaign 3: Expect More - Extending the best-performing concept from the Sydney campaign, this campaign was designed to drive traffic and lead generation by generating curiosity about the brand. The ads presented compelling but unresolved promises of renting, prompting the user to learn more about LIV.
- Campaign 4: Footnote - This campaign highlighted the clear and relevant benefits of renting at LIV. The clear copy and designcut through noise on the platforms and focussed on delivering instant value. Examples include “Paint the walls whatever colour you want”, “Rent with benefits. And appliances” and “A no-bond apartment”.
- Campaign 5: Home Is - The goal of this campaign was to speak too users in the consideration stage of the buyer’s journey. The creative used included real-life photos of people that embodied the character of the brand. The concept showcased that LIV was the better choice when it came to renting.
Outcomes
60%
cheaper cost per lease
57%
cheaper cost per lead
7%
conversion from lead to lease
Result
The campaign was a resounding success delivering results that were better than expected and better than Liv Indigo in Sydney. The results have been exemplary!
The ad performance was exceptional in all key stages of the acquisition funnel. This meant that the LIV could spare more budget for brand growth activities.
- The Cost Per Lead was 57% cheaper than target
- The Cost Per Lease was 60% cheaper than target
- 2.5x better web visitor to lead conversion compared to the Sydney campaign
- The Cost Per Lead from Paid Social was 43% lower than the Sydney campaign
- 74% of all leads were driven from Paid Social campaigns
- The conversion from Lead to Lease peaked at 7%
“Let’s take a moment to appreciate how difficult it is to get people interested in a completely new product that has no comparison in market. It is hard. I showed up at Rocket wanting to market not just a new product, but a whole new category. They took on the challenge with gusto. The team are simply awesome to work with and show their expertise at every turn. Our results were just brilliant: 720% growth month-on-month. They made my life easier and continue still to deliver results. What more could I want? Thanks Rocket! You rock!!”
Jade MacAuslan
Marketing Manager, LIV Mirvac
Creatives
The creatives for LIV were developed in collaboration with branding agency, Chello.
Our Award Wins
- 'Winner' Best B2C Campaign - Semrush Awards 2023
- 'Winner' Best Online Marketing Campaign - Real Estate - Semrush Awards 2023
- 'Finalist' Best Integration of Search Into Omnichannel Marketing - Search Engine Land Awards 2023
- 'Finalist' Best Advertising Campaign - Semrush 2023
- 'Finalist' Best Integrated Campaign - Semrush 2023
- 'Finalist' Best Social Media Campaign - Semrush 2023
- 'Finalist' Best Use of Search – Real Estate & Property - APAC Search Awards 2024
- 'Finalist' Best Integrated Campaign - APAC Search Awards 2024
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Rocket Agency has solved digital marketing challenges for hundreds of Australian businesses and run thousands of successful campaigns across SEO, Google Ads and Social Media to deliver tangible business results. Our case studies reflect our digital marketing expertise across industries and channels.
720%
15.9X
4.2%
How LIV Mirvac Achieved 15.9X ROI with an Integrated Digital Marketing Strategy in Property
This is possibly Australia's most-awarded digital marketing campaign in 2020-2021! Mirvac's LIV Indigo is a brand new property concept and category in Australia based on the build-to-rent model. Rocket Agency, together with branding agency Chello were challenged to bring this concept to life with an integrated marketing campaign, aimed to drive brand awareness and leases – all this during a global pandemic and rental downturn. Rocket suggested a digital-first strategy to the launch, going against the traditional approach to property marketing. Launching, scaling, and optimising the campaign across 6+ channels and using 100s of creatives, Rocket was able to smash targets set by LIV to deliver amazing awareness and quality leads that converted to paying customers.
