Achieving 8.98% Meta conversion rate for Mirvac amid Lookalike Audience Changes
In 2024, Meta made some pretty big changes to its Lookalike Audiences as a result of tightening data privacy regulations. Restrictions on third-party data and phasing out certain tracking methods meant that businesses relying on digital ads were faced with some serious challenges.
For Mirvac’s Everleigh project in Greenbank, these changes had the potential to impact how effectively they could generate leads and engage with prospects. By shifting the focus to Mirvac’s owned Salesforce data, we were able to build better audiences that significantly boosted their conversion rates.
Challenge: Navigating restrictions in audience building
The privacy updates Meta rolled out were largely driven by global regulations like GDPR and CCPA, which are all about giving users more control over their data. These updates restricted the use of third-party data, which made it harder to build precise Lookalike Audiences. For marketers, this meant a dip in the accuracy of prospecting campaigns. The data you could once rely on to track user behaviour and create detailed audience profiles was no longer available at the same level.
For Mirvac, this made it challenging to reach buyers, especially in a competitive area like Greenbank. So instead of relying on third-party data, we started using Mirvac’s own Salesforce data to keep generating high-quality leads.
Solution: Adapting with first-party data
Leveraging Salesforce to drive sales
This data gave us everything we needed: insights into buyer demographics, behaviours, and purchasing intentions. From there, we built Lookalike Audiences in Meta that reflected the right prospects, ensuring that even with all the changes, Mirvac could still target the people most likely to convert. This approach wasn’t just compliant with new privacy rules—it also gave us better targeting and results.
How this evolved with the campaign
This approach was crucial for a project like Everleigh, where the sales cycle is much longer. It meant we could keep targeting high-quality leads throughout the campaign, no matter how much the market shifted.
By focusing on first-party data, we could run evergreen campaigns that kept performing, even as Meta’s platform changes started to affect other advertisers. For a highly competitive market like the Greenbank corridor, this made a notable difference. We were able to reach prospects actively searching for land and keep delivering leads that were much more likely to convert.
“We compared the Salesforce Lookalike Audiences with standard prospecting audiences in a series of split tests, and every time the Salesforce audiences outperformed the others in lead volume and conversion rate. It shows the importance of being adaptable in your approach.”
– Kaan Gude, Head of Advertising
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