Opendoor

The objective

Exploring TikTok Search Campaigns to reach untapped, high intent home sellers

Founded in 2014, Opendoor revolutionized life's most important transaction with a new, simple way to sell a home - online. Whether it’s starting a family, taking a new job, or making a life change, Opendoor helps people reach their next chapter in one seamless transaction - Powering life’s progress, one move at a time.

As a brand with a robust digital strategy and heavy reliance on website traffic generation from advertising efforts, Opendoor wanted a solution that would complement these efforts and allow them to reach home sellers with a high likelihood of exploring their click to sell cash offer program. They were able to execute this by meeting new, high-intent customers where they were - searching on TikTok.

The solution

Turning curiosity into discovery by harnessing the power of TikTok search

Opendoor integrated TikTok Search Campaigns into their evergreen strategy as a way to leverage active discovery on the platform and engage users looking to sell their homes. This allowed them to capture high-intent traffic more efficiently than traditional discovery methods. By using broad match brand and non-brand keywords focused on home buying, selling, and cash offers to target TikTok searchers, the brand maximized their ability to win in the auction.

Opendoor also tested Automated Keywords; a keywords expansion tool that can explore broader high-quality search traffic by automatically generating keywords based on ads creative such as videos, images, text, and product information. During this test, Opendoor achieved a 64% lower CPC, 37% reduction in CPM, and 78% increase in CTR vs. the two-week period prior to testing.

Additionally, the brand utilized both video and carousel/image assets in their Search Campaigns that were highly relevant to their keywords. Carousel Ads enabled them to incorporate sequential messaging with potential customers. For example, showcasing a step by step guide about how to get a home ready to sell with Opendoor. The chances of a Search Campaign advertiser with an image creative achieving the first slot on the search results page is 5x higher than the advertiser with a video, so this ad format increases visibility and engagement for brands.

The results

Supercharged click-through-rate and double digit cost-per-click efficiency

Opendoor's Search Campaign efforts provided the brand with incremental reach, exposure, and engagement. By appearing on the search results page against high-intent audience searches, Opendoor achieved over a 5x higher CTR than their standard traffic campaigns. They also saw a 50% lower CPC and 66% lower CPR vs. non-traffic Search Campaigns.

Opendoor's success serves as a true testament to the value of TikTok Search Campaigns and can be used as a best-in-class example of integrating TikTok Search Campaigns into an evergreen strategy. Opendoor’s strategic use of Search Campaigns prove that this campaign type is a powerful acquisition tool for high-consideration categories.

Tips & takeaways

• Use TikTok Search Campaigns to engage users actively seeking solutions, especially in high-consideration categories like real estate.

• Incorporate both image and video creatives, image ads can improve visibility on the search results page and support step-by-step messaging.

• Leverage Automated Keywords to unlock incremental high-quality traffic and expand reach without manual keyword curation.

• Make Search Campaigns part of your evergreen strategy to consistently capture high-intent traffic and drive efficient acquisition.