The world revolves around a pay-to-play system, and marketing your multifamily property is no exception. While factors like social media marketing, internet listing services (ILS), and Search Engine Optimization (SEO) can all help put your property in front of potential residents, paid media has a reach that can’t be rivaled. While it may seem intrusive, the fact remains that the use of paid media offers unprecedented value that can’t be matched.
Stay Top of Mind With Remarketing Ads
Not only do 81% of consumers do online research before making a purchase decision, but many of them will interact with your content multiple times before committing to you. The likelihood of someone deciding to live in your apartment community upon seeing your site for the first time is slim, no matter how great your content or striking your photos. You might not be able to guarantee that a prospect will return to you when they are ready to make their decision, but remarketing ads can increase your chance of being in that final conversation.
There are a number of platforms on which remarketing ads can be implemented. Google’s Display network and Facebook’s network both offer remarketing through use of a tag or pixel. This bit of code placed on your site will help identify users that have visited, and will show your ad to them across display partners on the internet. Perhaps the most beneficial aspect of remarketing to properties is the click-through-rates. According to WordStream, visitors who have been to your site previously are 2-3x more likely to click your ads than people who have no awareness of your site. Remarketing can definitely increase returning visitors, and give you a great bang for your buck!
Tap Into the Right Audience
Facebook is known for the incredible targeting it offers at a low cost-per-impressions (CPM) and cost-per-click (CPC). But Facebook’s targeting ability can go deeper than that. Consider lookalike campaigns: With a list of emails from existing customers, you can upload them directly to the Facebook audience platform, and use that list to create a lookalike audience. That is, an audience that mirrors your current residents. If the uploaded emails are tied to a Facebook account, Facebook then has the ability to look at the aspects of that account and find similar people. It can seem a bit intrusive as a user, but is incredibly effective for marketing.
If you’re a newer property, Facebook can also create lookalike audiences based on web traffic, form leads, and people who engage with your page!
Maximize Your Impact
When most people think of Paid Media, they think of Google Ads first, followed by Facebook ads. While both are the most prevalent forms of paid media out there, there are many other methods and platforms in which a paid budget can enhance awareness of your brand.
It can be hard to fathom the power of a more traditional Facebook or Google Ad. The ad’s placement and success is heavily dependent on bids, relevance, and other factors that are difficult to attribute value to without hard data and a list of leads. However, value can more easily be witnessed in paid alternatives.
For multifamily, page likes, post engagement, and Instagram followers can all be positively influenced by a paid budget. The biggest difference is that this version of paid media is less intrusive than traditional ads. Whereas an ad says “HERE I AM,” a note that says “Your Friend X Liked this Page” is much more subtle. So much so that you often miss the text that reads “Sponsored” underneath. Similarly, Facebook can place sponsored posts in your news feed to encourage you to comment or like. Also subtle are “click-to-call” ads on Google that have positive effects as well. Especially prevalent on mobile platforms, these ads are tied to a phone number, so that someone who comes across your property in a search can call directly for more information.
Bank On Your Image
Videography has been on a consistent rise both in real estate and marketing. Because of this, your property has likely invested in a quality video boasting its amenities, or a “Virtual Tour” to show off the unit finishes. With a bit of a budget, a video like this can go far. Video and paid social media go hand in hand. Both Instagram and Facebook have heavily altered their sites to showcase this medium. Since Facebook began an increased focus on video, it now appears 360% more on Facebook news feeds than in the past, and Facebook hits up to 8 million video views daily.
If you’d like to guarantee that your ads are being watched, however, you might consider Google Video ads which appear on Google-owned YouTube. While Facebook charges you after a viewer has seen a small portion of the ad, Google counts an ad view as 30 seconds, which is often the duration of a successful ad. This way, you can guarantee you’re only being charged when your message is fully heard.
Paid media is an underutilized tool in the multifamily space and there are strategies to do it effectively for your community. The power of paid media can be used to help identify the right audience, serve ads to the right people, and increase awareness of your property. Putting a budget behind the right paid media tactics can give your property the upper-hand, especially in a dense market.