Millennial, Gen-X Opps: Pacaso taps new AORs, launches campaign (Score 30)

Real estate service Pacaso recently named Mediahub and BBH as, respectively, its media and creative AORs. The agencies' new work for Pacaso, "Own It," launched on March 14; this campaign led to both agency appointments.

These agency hires come on the heels of a Series C funding round for Pacaso, which raised $125m in September. According to Crunchbase, the company has earned $1.5b in funding so far.

Pacaso uniquely offers people a way to secure 1/8 to 1/2 ownership of luxury second homes. In 2021, the company's first year in business, the company generated around $300m in revenue and sold about 400 houses. This year, Pacaso has plans to expand into over 30 new second home destinations.

iSpot reports the company made its first foray into national TV earlier in 2022; so far, approximately $9.1k has gone toward commercials targeting tennis fans watching ATP/WTA Tennis, WTA Tennis and ATP Tennis.

So far this year, Pathmatics reports Pacaso has spent approximately $887.8k on digital ads, around 4x the approximately $236.7k it spent within the same 2021 timeframe. In 2021, the company's estimated full-year spend understandably skyrocketed to $3.9m from that of $93.5k in 2020. Pacaso has earned ~82.2m digital impressions YTD via Instagram (35%), desktop display (33%), Facebook (24%) and mobile display (9%) ads. Most of this year's desktop display ads have been placed site direct onto destinations such as marketwatch.com (32%), esquire.com, foodandwine.com, wsj.com and harpersbazaar.com.

Additionally, Magellan shows Pacaso has aired 142 podcast ads within the past 12 months.

The company tends to target millennials and Gen-X at this point, so sellers able to offer high-ROI strategies among this audience will have an upper hand securing ad dollars.

Agency & martech readers - Reviews often follow one another, so you may have a shot down the road at PR and/or digital analytics work.