Proptech company from zero to 100 million in three years
August 11, 2020
Marketer Technologies has made a mark in automated marketing of real estate and had sales of almost NOK 100 million last year.
“We have developed a solution for marketing of real estate that makes it possible to create comprehensive digital marketing campaigns with little manual input, supported by artificial intelligence that takes care of everything from design, websites and media purchases. It also continuously monitors the results and performs automatic optimisation, so that our clients always get the most for their budgets”, says Jon Amdahl Martinsen.
He is a co-founder and director of business development at Marketer Technologies. Since its inception in August 2016, the company has gone from 2 to 35 employees and full-time consultants, and have spent about NOK 25 million on technology development. The company's first launch was its product for marketing of second-hand homes. Martinsen estimates that they now market around one third of all second-hand homes sold in the Norwegian market, and they are currently in extensive bidding rounds with some of the largest real estate chains in the world.
Turnover has risen from NOK 4.6 million in 2017 to NOK 94.8 million last year, with an operating loss of NOK 6.6 million. The company has customers such as DNB Eiendom, Krogsveen, Sem & Johnsen, Selvaag Bolig, Skanska, AF Gruppen and Solon Eiendom. Abroad, they work with big names such as the Sotheby's chain in the US, in addition to being responsible for digital marketing for some of the most prestigious housing projects in the UK.
“Our product for new construction projects was created by us being contacted by one of our real estate clients who struggled with the sale of a seemingly attractive project. Without a clear picture of who we should reach, and how we should approach them, we chose to lean on the same data-driven approach that we were used to from our second-hand housing solution. We made several different representations of the project, which were tested against each other to find out who the actual buyers were and what they found appealing about the project. The campaign was a huge success, and it is precisely this methodology that became the foundation of the system we today deliver to customers all over the world”, says product manager Thomas Meyer.
(This is an unofficial translation of the Norwegian article).