Opendoor

The objective

Boosting awareness and leads for the Opendoor for Agents program

Opendoor is a leading digital platform for residential real estate, making the home buying and selling process easier since 2014. Although Opendoor is a technology and customer-first platform, it recognizes the value and expertise real estate agents bring to the industry. As such, it launched the Opendoor for Agents program to attract new agents to the platform.

The company aimed to drive awareness and interest in the Opendoor for Agents program, and TikTok's culture of discovery and community commerce made it the perfect place for its first social marketing campaign. Tapping into the platform's engaged real estate community and full-funnel solutions, Opendoor launched a multi-pronged campaign to promote its Opendoor for Agents program.

The solution

Full-funnel solutions, creator collaborations and strategic targeting

Opendoor ran broad-ranging traffic and conversion campaigns, harnessing the power of In-Feed Ads, Spark Ads, location targeting, and relevant creator collaborations to increase awareness for Opendoor for Agents and drive relationships with new real estate agents.

The creative campaign marked a pivotal moment for Opendoor, positioning the brand as a solution-oriented ally for agents navigating daily challenges. With the tagline, "We got you," the campaign masterfully portrayed Opendoor as an indispensable tool empowering agents to better to serve their clients in mutually beneficial client-agent relationships.

In addition to leveraging In-Feed Ads and Spark Ads, the team implemented a multi-faceted strategy to optimize campaign reach and resonance by zooming in on the company's most relevant audience by location and interest. The campaign integrated Designated Market Area (DMA) location targeting across all of the US markets that Opendoor serves.

The team also conducted a split test to assess audience response further, adhering to the Housing, Employment, and Credit (HEC) ad policy. This policy limits real estate advertising, prompting Opendoor to compare a broad audience with a narrower one with Real Estate interests.

Creator-led content played a significant role in promoting the program as a way to drive authentic discovery among agents. The brand utilized the TikTok Creator Marketplace (TTCM) to partner with real estate creators (active agents, thought leaders, and coaches) who had a prominent following of other agents. The creator videos, which were all boosted as Spark Ads to widen their reach, emphasized a shared goal between Opendoor and agents of a fast and easy home-selling experience.

The results

Breaking real estate barriers

Opendoor's first campaign to promote Opendoor for Agents on TikTok proved a huge success. By employing TikTok's tailored solutions that leveraged traffic and conversion objectives, location targeting, and creators, the brand achieved remarkable engagement among TikTok real estate enthusiasts. The campaign's In-Feed Ads and Spark Ads delivered a 24% increase in click-through rate (CTR) and a 4% lift in engagement rate compared to benchmarks.

TikTok's ad solutions not only delivered impressive metrics but also played a major role, contributing to 53% of the paid campaign traffic within the first month of deployment, showcasing strong audience engagement.

A critical insight from the split test highlighted the superior performance of the broad audience compared to the narrow interest audience in both traffic and conversion campaigns. This finding highlights the platform's capacity to resonate across diverse audience segments, signaling a strategic advantage for Opendoor in maximizing campaign effectiveness.

With these remarkable results, Opendoor is eager to continue scaling its presence on TikTok—equipped with an enduring full-funnel strategy.