Case Study
Real estate-mortgage firms achieve top-tier growth with radio
This case follows the success of two forward-thinking Ottawa business owners who teamed up with radio to create a fresh approach to connecting with homeowners.
Frank Napolitano of Mortgage Brokers Ottawa (MBO) and real estate agent, Paul Rushforth of Keller Williams Ottawa Realty, broke away from traditional print advertising focused on homes-for-sale listings and mortgage rates to follow a more consumer-centric approach. Their strategy worked propelling their upstart companies to leading market positions within three years.
Challenge
To be successful, Paul and Frank needed to build credibility and create identifiable brands that would stand out in the crowded Ottawa real estate market.
The challenge was to differentiate their companies and the value they could bring to customers. What would make them memorable and attractive enough to bring in clientele over established mortgages brokers and the daunting number of real estate agents who had already gained the trust of Ottawa homeowners?
An inventive and aggressive strategy was required to compete against the big budgets of the national players.
Solution
With the belief that it’s the people at a company that create and deliver customer value, Rushforth and Napolitano both selected radio as the best way to personify them – the business owners – as the brand. Radio would present them as real, trustworthy, accessible and authoritative.
Both companies believed in investing over the long term to drive accelerated growth. Radio offered the cost efficiencies and targeting capabilities to make the most of their advertising dollar.
In addition, radio was proven to generate solid sales and lead response which was critically important for these new companies.
More than 50% of each company’s media budget was spent in radio on a comprehensive campaign comprised of the following:
- A creative Ottawa broadcast team developed a customized, long-term solution - a real estate and mortgage show - that would put Frank and Paul in the spotlight, differentiate them from competitors and place them at the top of the integrity ladder. The show:
- Permitted listeners to get to know them as trusted experts; as people with whom you would want to do business
- Offered an opportunity to build a deeper connection with consumers over time – over each ensuing show
- Carved out a loyal following by a highly-targeted group interested in their services
- Consistent ad placement in the real estate and mortgage show and other relevant, specialized radio shows, eg. Renovations Across Canada, Senators Hockey Broadcast.
- Multi-station reach plan in prime home buying seasons, Fall and Spring, to ensure top-of-mind awareness when consumers are motivated to buy.
- Traffic and weather tags used over 52 weeks to keep their names positioned as market leaders.
Results
With both companies stringently tracking the volume and quality of the leads generated from all media, Frank Napolitano and Paul Rushforth state that "radio has been our key medium to bring down the barriers for consumers to pick up the phone and call us."
Frank Napolitano’s Mortgage Brokers Ottawa (MBO) achieved 100% growth in less than three years, and is now acknowledged by consumers as a clear leader in the mortgage industry. Three years ago the company was focused on raising the stature of its name and its business volume to match other brokers in the market. Today, it has surpassed that and is well equipped to challenge the banks as its key competitors.
With very low awareness three years ago, Realtor Paul Rushforth has more than tripled his business volume and now sells more as an individual agent than some offices of major real estate chains. He has become the most renowned single real estate agent in Ottawa, converting 80% of the leads generated by radio to clients.
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