Coldwell Banker is launching a new spot timed to coincide with the NCAA basketball tournament.
This year, Coldwell Banker has increased its streaming ad spend, while also buying TV ads during key tournament games and on social media during the height of March basketball buzz.
“It is crucial now more than ever that brands are thinking holistically about their media strategy,” says Ryan Gorman, president and CEO, Coldwell Banker Real Estate LLC in a release. “We’ve increased our streaming spend by 420% [compared to last year] to reflect changing viewing habits.”
The 60-second spot “Guiding You Home” from Siltanen & Partners features a classic song about home: Simon & Garfunkel’s “Homeward Bound.” The spot features people of all ages enjoying the act of going home.
The media plan includes a programmatic ad buy targeting groups such as first-time buyers and second-time sellers, says Coldwell Banker CMO David Marine.
“We are running social ad campaigns across Facebook and Instagram, with a heavy video component, as well as other ad formats,” Marine tells Marketing Daily. “In addition to the traditional :60/:30/:15 ad mix, we have created a :10 version of the campaign specifically for Instagram stories as well as a :06 ad to use on social and YouTube. This combats the skip factor.”
As an additional March Madness-related activation, starting March 16 there will be Coldwell Banker billboards outside Madison Square Garden featuring “Guiding You Home” creative. They will run through April, including during the tournament’s Sweet 16 and Elite 8 rounds.
The ad campaign will formally introduce Coldwell Banker’s new logo and branding for consumers.
Last year, the brand unveiled a new look, called the CB North Star, the company’s first rebrand in 40 years. A star is now included in the brand’s logo, symbolizing how the Coldwell Banker network of 94,000 affiliated agents is like a “north star” for clients.
The company is also releasing the results of a survey that busts common real estate myths, paying special attention to the similarities between generations.
It was conducted online by The Harris Poll in February among over 2,000 U.S. adults.
The number one reason buyers and sellers across demographics decided to work with a real estate agent was to have a trusted advisor to help navigate the buying and selling process (58% of boomers, 45% of Gen X, 47% of millennials).
Equally across the generations, almost all boomers (91% ages 56-74 and born between 1946-1964); Gen Xers (91% ages 40-55 and born between 1965-1980); and millennials (92% ages 24-39 and born between 1981-1996) say that owning their own home is important.
When it comes to picking a neighborhood, the generations mostly agree. Boomers (98%), Gen Xers (98%) and millennials (93%) overwhelmingly agree on the importance of living in a safe neighborhood. Nearly three out of four boomers (72%), Gen Xers (73%) and millennials (73%) say it’s important to them to live close to their families.
A slight majority (54%) of millennials say living close to bars, restaurants, and nightlife is important; those numbers drop slightly for Gen Xers (46%) and boomers (34%).
The top two features that would make consumers more likely to purchase a home are a master bedroom with a private master bathroom (63%) and a fenced-in backyard (51%). Eighty percent of those surveyed say if they were purchasing a home, they would prefer to buy a move-in ready home over one that requires any updating.