Background
Founded in 2021 to help companies lease, purchase, sell, or sublet real estate, Northwest Tenant Group provides businesses with conflict-free representation. They provide advisory resources on par with multi-disciplinary global real estate firms. Since the real estate world revolves around tenants, and not vice versa, NWTG is committed to providing conflict-free representation that only a tenant-focused organization can provide. With end-to-end first class service and a commitment to customer solutions, the NWTG model is set to disrupt the commercial real estate industry.
Key Metrics
5.13
CTR (Click-Through Rate)
116,000
Impressions
1.5x
ROAS (Return On Ad Spend)
“We’ve felt there’s been a missing technology play to leverage in the commercial property space for some time. They [google queries] are prevalent in virtually every other sector except ours, and that won’t last forever. WIth that mindset, we were curious what it’d take to crack the code on digital marketing in commercial real estate, and as of January 2023, I’m proud to announce that we’re doing just that. As a client of LP, we are excited to continue building brand awareness and locating more businesses in need of our services.”
— Stanford Scriven, CEO/Founder, Northwest Tenant Group
Why Logical Position?
Being a new organization, NWTG was looking to get their name out there. They originally learned of LP through an event called The Oregon Tech Crawl, and were intrigued by the profound impact digital marketing had with many businesses they worked with. The digital space completely lacked competition, which likely intimidated those who didn’t see the potential. However, knowing google searches were ubiquitous with buying most anything these days, they knew commercial property couldn’t be far behind. That’s when NWTG set up a consultation with Logical Position to discuss market potential, campaign viability, and what kind of financial obligation it would take to move the needle and bring in leads looking for representation.
Goals
Establish reliable KPIs and define the proof of concept
Build brand awareness and drive new site users
Keep cost per acquisition <$350
Our Strategy
Being a relatively new firm with no previous advertising experience, meant there was no historical data to reference, so we started by establishing marketing objectives and proper KPIs (key performance indicators) to gauge campaign effectiveness. Ultimately, the goal was to drive site traffic, build brand awareness, and garner new contacts in their pipeline of qualified leads. But in order to drive qualified site traffic, we had to define their target audience and bid up on the associated keywords.
To do that, we geo-targeted high-level executives within a 15-mile radius that were in the full relocating process, for businesses in technology, professional services, software, biotech, and engineering. Using negative keywords, we excluded manufacturing, warehouse, schools, churches, daycares, gyms, education, and even retail. With such narrow focus, our biggest hurdle early on was getting the account to fully spend the allocated budget. Once we could input enough data, drawing an audience became easier with more refined targets.
Finally, since NWTG was a Lead Generation business, we defined the appropriate conversion paths and bid up on call extensions in their search ads, while relying on contact forms and site surveys to convert once we had users on-site. Knowing that commercial real estate sales cycles can take up to two years (or more), we cast a wide net and remained patient.
Results
Everything about NWTG is unique, from their tenant focused service offering, to their campaign build and account targets—it’s all untapped territory. Similarly, the results may seem small, but they are mighty.
In the first nine months working together, the account generated 46 qualified leads with a 2500% increase in site traffic. Even better, NWTG recently closed its first deal directly attributed to Google Ads with nearly $20K in net profit, bringing their return on ad spend to a 1.5x, meaning their account is already a net positive, despite the long industry life cycle for contacts to close. With some 116,000 impressions and climbing, NWTG is just getting started!
Does your digital marketing strategy need a new lease on life? Reach out today to schedule a free consultative review of your digital marketing strategy!
