Yello, positioned as Bangalore’s largest coliving space with over 600 beds, embarked on a mission to redefine the coliving experience for young professionals. Nestled next to ITPL, Whitefield, a hub for corporate offices across various industries, Yello was designed from the ground up to offer an unparalleled living experience. With ambitions to become a national brand, Yello faced the challenge of introducing its premium coliving space to a competitive market.
Blogs >> How Performance Marketing Fueled Yello Coliving’s Launch Success
How Performance Marketing Fueled Yello Coliving’s Launch Success
Overview
Goals
As a newly launched brand, Yello’s primary objective was to generate brand awareness among its target demographic and secure leads for resident onboarding. The company set an ambitious target: to welcome at least 50 long-stay residents within the first two months of its launch, despite being a newcomer in a market filled with established players.
Challenges
Yello’s journey was not without hurdles. The brand’s newness in the market and its premium pricing strategy—starting at INR 13,000 + GST for a double room—posed significant challenges. Moreover, being located in a single prime location with a conservative budget required a strategic approach to maximize reach and impact effectively.
Strategies
Our performance marketing strategy was meticulously crafted to address Yello’s unique challenges:
Google Search Campaigns: We launched high-intent, bottom-of-the-funnel search campaigns targeting individuals searching for coliving spaces, PGs, and studios in Whitefield. This ensured that our ads reached those with a direct interest in Yello’s offering.
Facebook Traffic and Lead Gen Campaigns: By focusing solely on the Whitefield area, we created attractive traffic ads to build top-of-the-funnel awareness. Subsequent lead generation campaigns were launched once we achieved significant reach and landing page views, ensuring high intent and quality leads by directing prospects to a dedicated landing page.
Customised Landing Pages: We built out highly custom and targeted landing pages for each customer segment highlighting the unique needs that Yello caters to. We set up conversion tracking for every customer interaction on the landing page to feed the Google algorithm with micro-conversion events to help it learn faster.
Results
The precision of our performance marketing strategy yielded remarkable results:
Lead Generation and Conversion: In just two months, we generated close to 1,000 high-intent leads, with a lead-to-customer conversion rate of over 12% —exceeding our initial target. This achievement underscored the effectiveness of our targeted campaigns and strategic focus on high-intent leads.
Cost-Effective Customer Acquisition: With a very competitive Marketing Customer Acquisition Cost (CAC), our campaign not only surpassed occupancy targets but also did so in a cost-efficient manner, demonstrating the scalability and effectiveness of focused performance marketing in the coliving space.
Relevance and Conversion Rates: Over 55% of the leads generated through our ads were highly relevant, with more than 8% converting into residents. This high conversion rate from a precisely targeted audience underscores the power of strategic ad targeting and high-quality lead generation.
Conclusion
Yello’s success story is a testament to the power of well-executed performance marketing in the competitive coliving industry. By leveraging targeted search and social media campaigns, we were able to generate significant awareness, attract highly relevant leads, and achieve impressive occupancy rates. This case study not only highlights the effectiveness of strategic digital marketing efforts but also positions our approach as a blueprint for similar brands aiming to make a mark in the market.