BETHESDA, MD -- CoStar Group, Inc. (NASDAQ: CSGP), today announced it won a Stevie Award for Best Magazine Ad in the 2004 American Business Awards in New York City last night. The ad also was recognized as a finalist in the Best Newspaper Ad category.
CoStar Group is the leading provider of information services to the commercial real estate industry in the U.S. and U.K. More than 40,000 commercial real estate professionals rely on CoStar's comprehensive suite of services to find available space, identify investment properties, accurately value properties and position buildings in the marketplace.
CoStar's award-winning ad carried a headline that asked, "Would you know about a 265-story building?" and depicted an exaggerated skyscraper towering over the Cleveland skyline. Customized versions of the ad ran in nine cities. Headlines, copy and aerial skyline images were tailored to the specific city, with skyscrapers ranging from 265 to 2,800 stories tall. In each case, the size of the skyscraper represented the amount of available space in CoStar's researched database that would not be found in its competitor's database. The ad copy pointed out that missing data meant missed opportunities.
The ads were produced in-house by CoStar's marketing team as part of a multi-media campaign that included advertising, direct mail and high-impact posters differentiating CoStar's comprehensive data, high-quality digital photos and proven technology from a competitor's offering.
"We are pleased to be recognized for our creativity in positioning our products in the marketplace," stated CoStar President & CEO Andrew C. Florance. "This campaign was highly effective in conveying the risk of saving a few dollars on a less comprehensive service and reinforcing the premium value we provide."
The ads ran between August and November of 2003 in Crain's Cleveland Business and local business journals in Austin, Atlanta, Columbus, Dallas, Denver, Kansas City, Indianapolis and San Diego.
Hailed as "the business world's own Oscars" by the New York Post, The American Business Awards are the first national, all-encompassing business awards program honoring great performance in the workplace. CoStar's ads were selected from over 800 entries by a distinguished board of judges that included business luminaries such as Rich Karlgaard, publisher of Forbes; Bruce Nelson, chairman & CEO of Office Depot; marketing gurus Tom Peters and Anthony Robbins; Drew Schutte, publisher of Wired Magazine; Jeffrey Tarr, president of Hoovers Inc.; and Donald Trump, chairman & CEO of The Trump Organization.
About CoStar Group, Inc.
CoStar Group, Inc., (NASDAQ: CSGP) is the leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information on over 50 U.S. markets, London and the United Kingdom. Based in Bethesda, MD, the company has approximately 900 employees in 37 offices throughout the United States and the United Kingdom, including the largest professional research organization in the industry.