Home shopping app Homesnap is debuting advertisements from Google along with its existing capabilities for Facebook, Instagram and Waze. Homesnap’s lead ads capture the contact information of potential clients and other data whenever they click on an ad.
Homesnap is also touting a new ad platform that can differentiate between Facebook and Instagram ads, rather than lumping them together.
“There’s a lot of wasted ad spend: bad advertisements, bad billboards, local sporting team sponsorships, park benches. Very expensive advertising,” Homesnap Chief Product Officer Lou Mintzer said in an interview with Inman. “What we’re doing is in line with our mission as a company to support agents and build tools for them to be successful and productive. This lets them advertise themselves and their listings directly on four platforms.”
Homesnap can now target users on Facebook, Instagram, Waze and Google, the company said. With Google, ads will appear both in Gmail and Google Search, and also on websites that users are accessing.
“We’re not just hitting people in one place. We’re hitting them across the whole Google ecosystem,” Mintzer said. “The level of intent is higher on search. A lead from Google — it’s the best lead, basically.”
To illustrate the potential of its advertising platform, Homesnap offered a case study by Facebook and Instagram from last August that shows how its advertisers earned a six-time return on their ad spending. In addition, Homesnap’s ad platform users reported a seven-times decrease in their cost per lead.
Homesnap also carried out its own independent study which shows that agents sold their homes 10 days faster than the national average through its platform.
Homesnap in February reported it had raised $14 million in a Series B round of funding. The company said at the time that one of its plans was to create new premium products aimed at real estate agents.