How Domain is using big data to evolve its advertising offering
With access to 11 million registered users through a recent partnership with Nine, Domain now has one of the nation’s richest first party databases. Tim Lloyd, Senior Ad Tech & Performance Manager at Domain reflects on what this means for advertisers.
A person’s property journey often corresponds with key events in their life. Having children probably means it’s time to upsize from that one-bedroom apartment while retiring might mean trading in the family home for something a bit more manageable.
Research shows that these milestones are a powerful time to influence purchasing decisions. A growing family, for example, might not only need a bigger home but a larger car, new furniture, whitegoods or even a family-friendly holiday.
“For most people, a property purchase is the biggest purchase they will ever make, but there are naturally a lot of other transactions that take place during this pivotal time,” says Tim Lloyd, senior ad-tech and performance manager at Domain.
With access to 11 million registered users through a recent partnership with Nine, Domain now has one of the nation’s richest first party databases. By tracking user activity within and beyond the Domain network – from the number of bedrooms they are searching for to the type of content they are consuming across a wide range of sites – they are able to paint a complex picture of their customer’s “life stage”.
“We now have better insights into our audiences’ behaviors and a persistent view of users as they move across the web,” says Lloyd. This has given Domain the ability to create highly customised targeting solutions that drive cost-efficiency and results for advertisers.
“When we combine our partner’s and client’s data with our own, we find that we can create some truly bespoke and highly qualified audience segments to suit every client’s needs.”
The various stages of the home buying journey also provide distinct opportunities for advertisers.
“Our research shows that a typical property purchase journey will take up to 24 months,” says Lloyd. “Audiences will start in that ‘dreaming’ phase where they engage with content and seek out aspirational homes.”
Next, they progress to the ‘researching’ phase, where they will start to shortlist properties, visit open homes and discuss their finance options with banks or mortgage brokers like Domain Loan Finder. When they reach the ‘purchasing’ phase, buyers will be looking to enlist the services of conveyancers, insurance providers and the like.
Lloyd says Domain often works with advertisers to reach consumers in the ‘post transaction’ phase when they are considering utility providers, purchasing homewares, considering a DIY renovation and are more likely to travel or buy a new vehicle.
“The property journey is a recurring cycle,” he adds, meaning that Domain can continue to evolve their view of the customer over a lifetime, and help advertisers reach them when the time is right.