What's In-Platform Advertising? How does it relate to the world of mortgage lending and real-estate? and why does it matter? I invite you to read-on as I help you explore the subject.
Think of companies like Amazon, eBay, LinkedIn, Facebook, etc. that have spent a significant amount of time and resource to build their microcosm platform. These companies are recognized and respected as a category or niche in their space. Think of all of the things that these platforms enable one to accomplish daily and how they've revolutionized our lives. And, yes, whether a platform is selling something, enabling you to keep in touch with your friends and family, or help you drive your career and expand your professional network - they all deliver different forms of In-Platform advertising that fit organically in their environment. NestReady is similar to the above platforms in that regard when it comes to advertising and demand-generation, but in our case, the focus is on the mortgage lenders and real estate. NestReady technology helps homebuyers find the best house and make an educated buying decision about it while positioning the mortgage lender as a trusted technology enabler that is activating this digital homebuying experience.
What's In-Platform Advertising?
If you've seen a promoted story or a video piece of content, search result ad, display ad, sponsored email or message, promoted product listing, etc. you have seen one or few types of In-Platform ads. You might tell me - "hey Ivan, isn't that native ads, paid search, paid display, social or other forms of ads?" and my answer is going to be yes it's all of the above types and much more, aggregated under the umbrella of In-Platform Advertising. Native ads, or when you ads are almost indistinguishable from the content around them, or paid search ad that promotes our product listing to the top of items for sale search result, or sponsored message in your inbox, all of the above are just a few gears out of countless ad types that can be a part of In-Platform Advertising.
How does it relate to the world of mortgage lending and real-estate?
In the case of NestReady, it is a combination of both In-Platform Advertising and demand-generation that is driven by real estate marketplace platform, custom native ad style CTAs, organic and paid traffic acquisition, brand awareness and more. Same as the platforms above we've developed our platform to help the consumer - In our case to facilitate and simplify home purchase while placing lender(s) at the center of that digitally powered journey. Ergonomics of the home search and research related decisions is the core of the platform, and a mortgage lender becomes a part of this experience by activating various aspects of In-Platform Advertising and leveraging the white-label nature of the platform. So as a mortgage lender you get a real estate marketplace platform that presents you as an enabler of the digital homebuying research experience. With Millenials driving over 80% of home purchases in the next ten years - activating digital research and purchase experience is a must-have for lenders. This is where In-Platform advertising becomes a revenue and demand-generation catalyst for mortgage lenders and real estate.
Why does In-Platform Advertising matter?
I believe it's fair to say that banner blindness and ad fatigue is a widespread phenomenon and when combined with an ad-block technology it significantly diminishes the efforts of online advertising efforts. An average display ad clickthrough is 0.1%, a CTR for a search ad is just under 2%, Facebook is just around 1% across the board for most of the industries. So, even if an ad unit is not destroyed by ad blocker extension on users browser (a couple of years ago a global number of devices using ad blockers was at 615 million - by now this number doubled), and banner fatigue/banner blindness (when user stops seeing ads because of overexposure to similar ad types and messages), most of the time 1-2% is best we can expect from digital ads. Where things start to get better is a realm of native ads - with CTRs going 8x times up for this ad type. What works even better when you combine lessons and strategies learned from native advertising and put them to work within your platform while combining organically with other ad and content types. This is where In-Platform Advertising, mortgage lender branded platform, and consumer trust drive results that are multiple times stronger then NativeAds - brining CTR levels to 20-30%. Just imagine a 3rd of the audience of potential homebuyers visiting your platform website is engaging with the content presented and powered by your brand! How much $ would you need to spend on paid search or display to get close to that level of engagement?
In conclusion, to become a trusted advisor in the eyes of generation that will be driving the most real estate purchases in a near future a lender needs to power the digital research and buying journey. In-Platform Advertising becomes a natural way to present and deliver your offers to a consumer in a natural way that's not affected by banner blindness, ad blockers, low CTR, etc.
NestReady bridges the gaps between consumers, banks, and real estate professionals, enabling financial institutions to offer a personalized and seamless home search process. With NestReady, lenders can enhance their marketing, increase engagement and client loyalty, and achieve higher and faster conversions — all through their own digital environment. If this sounds interesting - we invited you to reach out to our team.