Zillow is increasing its ad budget for its current campaign with the launch of the fourth TV spot in its “Find Your Way Home” campaign.
The original advertising spend was estimated at $65 million. However, Zillow has increased that estimate to $75 million, according to a spokesperson. The company spent $40 million in 2013. Zillow’s decision to invest in advertising has helped the company grow market share and reach record high traffic and revenue, with nearly 89 million monthly unique users visiting in July.
The 15-second spot, titled “What If,” is different from previous ads in that it focuses on first-time home buyers and the tools they use (mobile devices) and information they need (mortgage pre–approval on Zillow) to secure their dream home.
The spot shows a young couple who have outgrown their apartment and are using Zillow to shop for a home and to get pre-approved for a mortgage right from their smartphone.
“What If” will run in rotation throughout the fall and winter on major networks and national cable stations.
By highlighting mortgage pre-approval on Zillow, the company is able to emphasize the ability for home shoppers to get pre-approved for a mortgage quickly and easily through Zillow’s mobile apps and Zillow.com.
Getting pre-approved shows sellers and agents that the home buyer is motivated and ready to purchase, giving them a leg up in an increasingly competitive market. No longer are shoppers required to spend time at a mortgage broker and wait days for their letter, with a few clicks, the letter is available directly from their smartphone or mobile device.
The new pre-approval feature is available on Zillow.com, mobile web and Zillow mortgage and real estate apps on iPhone, iPad and iPod touch.
Previous TV spots in the campaign, which launched nationwide last year, illustrate how Zillow helps families use technology to collaborate, shop for, and ultimately find not just a house — but a place for their lives to happen.