Dubbed SmartSocial Ads, this unique tool uses data analysis and behavioral targeting to effectively expand the audience for an agent's property listing on sites like Facebook and Instagram.
Pat Shea, Lyon Real Estate President, said:
"The Adfenix platform enables Lyon to be smarter with our data and for our agents to extend the reach of their listings to the most relevant buyers."
According to Adfenix Co-Founder, André Hegge, the tech company is looking to "empower real estate agents" offering them digital products to help them to better "build relationships with their customers by harnessing the power of social media."
Shea further explained:
"Buyers and sellers are becoming more digitally savvy and expect their agent to leverage technology that delivers results. Introducing products that contribute to the success of our sellers, our agents, and the properties we represent is a top priority for us."
Adfenix, established since 2014, offers a digital report for agents to show their sellers that explains how their property's ad is performing in real-time, like a kind of analytics.
Cathy Harrington, Lyon’s Director of Marketing, said:
"During our three-month pilot, the SmartSocial Ads program delivered impressive results. We saw a 1000%+ increase in traffic to our property listing pages on the website, and our average clickthrough rates for the ads rose to over 20% (which is 20x the Facebook average for our industry), generating much higher and qualified exposure of our listings."
SmartSocial Ads has been launched to all of Lyon's 950 agents in 17 offices throughout the Greater Sacramento area.