Hoping for the best may drive us, but in the advertising world it doesn’t sustain business or win pitches. In early May, PHD Singapore was appointed media agency for the Property Guru Group for Southeast Asia. A big part of the decision to award the contract to PHD was that PHD was willing to go all-in on an original approach to make brand-building investments based on evidence instead of hope, according to PropertyGuru Group CMO Bjorn Sprengers.
This new partnership warrants a closer look, as it addresses the age-old question of how to measure brand visibility. Whilst CMOs would love to have always-on brand visibility, the given nature of advertising budgets only allows for lurching bursts of brand exposure, starving the advertiser of potential customers.
To correct this, PHD & Property Guru established a Brand Equity Attribution model, which utilises BQI (brand query index) as the brand-awareness metric of choice. BQI is a simple measurement of how often “PropertyGuru” appears as a keyword – relative to its competitors – in searches that contain any of the brand names. A higher BQI means more people are searching for the group’s sites by name, thus indicating higher brand awareness.
On an average month, PropertyGuru sees 17 million property seekers through its many portals and handles more than 700,000 sales enquiries. Attention to their brand visibility could not be of more importance for the Property Guru Group, who utilise a robust, programmatic-driven performance-marketing funnel.
The first experiments designed to refine the model are occurring now, and Sprengers expects tangible results from the statistical modelling in September 2017, after which PHD & Property Guru will continue to make further enhancements, ensuring the delivery of robust brand-building investment data.
You can read the full story on CampaignAsia