Success Story

Hometap

Reaching homeowners and acquiring new customers with Quora's Promoted Answers

25-30% lower CPAs

than other digital channels

*July 2020

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Quora Internal Data

Full-funnel

advertising strategy

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Quora Internal Data

About Hometap

Access the equity in your home. No interest, no monthly payment Hometap provides near-immediate access to funds so homeowners can pay for needs or pursue goals and opportunities. Tap into the equity of your home to fund life without any interest or monthly payment.

Their Goal

Customer acquisition

Hometap provides homeowners with an opportunity to tap into their home's equity without monthly payments or having to take out another loan. In addition to building this new product category, Hometap sought to acquire new leads at costs that were less than, or equal to, their existing ad channels.

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Not only are we an early stage company, but we’re trying to build a new product category and there’s not a lot of education around this new alternative financing option. For us, we often have to provide people with some more information and education before they feel comfortable converting on our site and entering our funnel. That’s why I think it’s a good match with Quora.

Rachel Keohan

Head of Marketing

Hometap

Their Solution

Targeting users in the research phase

The Hometap team found many questions, topics, and conversations on Quora surrounding home equity loans and financing. Knowing users were in the evaluation and consideration stages, Hometap targeted relevant content and engaged with the community with Promoted Answers.

Click on the image to enlarge

Their Creative

Promoted Answers educate & acquire

Education is a key part of Hometap's funnel, so Promoted Answers were a "natural fit" according to Rachel Keohan, Hometap's Head of Marketing. Promoted Answers are native to Quora and lets Hometap educate users about their industry before inviting them to their website to learn more.

Their Advice

Leverage Quora's resources

Rachel attributes Hometap's success to Quora's Customer Success team and advertising resources. Guides, examples, and case studies are readily available on Quora for Business Rachel also uses Quora itself for research. Visiting Quora can help businesses identify topics and questions related to their brand, product, service, or industry.

Their Results

Cost efficient leads

The Hometap team was pleasantly surprised by the volume of leads they received in their first month of using Promoted Answers. CPAs were also 25-30% lower than their average costs on other digital channels.*

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It’s a natural fit that we can do a little bit of education on Quora and then get people onto our site, where they can learn more.