Most apartment marketers have relied on Google advertising for years, but the way it’s used and the extent of its use varies from company to company and property to property.
To better understand how folks in the industry are utilizing Google ads, we asked how much of your ad budget is devoted to them, what kinds of ads have worked best, how you measure success and more during our latest #AptChat. These are the highlights. (Clink on the links to jump straight to a specific question.)
- Q1: Are you doing any Google advertising for your properties? If so, how much of your ad budget goes toward GOOG vs other sources?
- Q2: How are you measuring the success of your Google ads? Are you looking at clicks? Conversions? Applications? All of the above?
- Q3: What types of Google ads tend to work the best for you? Are you spending more on “broader” keywords to compete with ILSs?
- Q4: How do you figure out how much to spend on PPC ads? Do you have a formula you use? Is it determined by occupancy needs?
- Q5: Have you tried other Google ad products (banner ads, remarketing, etc.)? Have you found them to be effective?
Are you doing any Google advertising for your properties? If so, how much of your ad budget goes toward GOOG vs other sources?
@AptChat Still majority Google – starting to see more Bing and Facebook Ads also for lead generation #aptchat
— Dyverse (@dyverse) April 4, 2017
@AptChat @dyverse Not much. ILSs have done well diversifying their product offerings and are “stickier” because of it. #aptchat
— Stephanie Oehler (@StephanieOehler) April 4, 2017
@AptChat @dyverse Here I meant to the advertiser. Harder to unbundle. #aptchat
— Stephanie Oehler (@StephanieOehler) April 4, 2017
@StephanieOehler @AptChat @dyverse I think ILS’s feel like such a “safe” choice for some industry folks. They’ve been around, have a team to support/help the sites. #AptChat
— Kristi Fickert (@Marketing_Mommy) April 4, 2017
@StephanieOehler @AptChat @dyverse Google ads/SEO/SEM can just seem overwhelming. There’s a lot of data & set-up. GREAT platform, but intimidating for the avg. user #AptChat
— Kristi Fickert (@Marketing_Mommy) April 4, 2017
@Marketing_Mommy @StephanieOehler @AptChat Definitely fair – that’s why we have our jobs @dyverse! #aptchat
— Dyverse (@dyverse) April 4, 2017
@dyverse @StephanieOehler @AptChat Thank goodness! 🙂 Plus it’s ever-changing – hard for multifamily marketers to keep up when they have other responsibilities #AptChat
— Kristi Fickert (@Marketing_Mommy) April 4, 2017
@AptChat @dyverse I will add that I am seeing more PMCs choose 1 ILS w/ a more robust package vs. multiple ILSs. But spend seems to stay the same…. #aptchat
— Stephanie Oehler (@StephanieOehler) April 4, 2017
@AptChat @StephanieOehler @dyverse My guess is just to free up ad dollars to spend somewhere else. Use the ILS that is most productive, then diversify the rest of $. #AptChat
— Kristi Fickert (@Marketing_Mommy) April 4, 2017
@AptChat @dyverse So they can afford to upgrade to a premium package & not see a drop in quantity or quality of leads. #aptchat
— Stephanie Oehler (@StephanieOehler) April 4, 2017
@StephanieOehler @AptChat @dyverse Another great point – you almost have to have an upgraded package to see results of any kind. #AptChat
— Kristi Fickert (@Marketing_Mommy) April 4, 2017
@AptChat Definite areas of opportunity within #Facebook for #leadgen with the different campaign objectives available & proper tracking in place
— Dyverse (@dyverse) April 4, 2017
@AptChat It depends on the return. We’re fluid with our budgets. It’s all about the leads generated.
— Greg McCoy (@TrojanGmak) April 4, 2017
@AptChat CPC bids are adjusted weekly based on impression share and avg position. Budget monthly based on leads and conversions.
— Greg McCoy (@TrojanGmak) April 4, 2017
How are you measuring the success of your Google ads? Are you looking at clicks? Conversions? Applications? All of the above?
@AptChat We want to hit a certain threshold of clicks, but optimize based on conversions & conversion rate. conversions – leads – leases #aptchat
— Dyverse (@dyverse) April 4, 2017
What types of Google ads tend to work the best for you? Are you spending more on “broader” keywords to compete with ILSs?
@AptChat We advise majority budget for paid search with supporting remarketing & in-market audience (geofencing) campaigns #aptchat
— Dyverse (@dyverse) April 4, 2017
How do you figure out how much to spend on PPC ads? Do you have a formula you use? Is it determined by occupancy needs?
@AptChat Based on your market’s competitiveness, lease up vs established community, desired mix of campaigns #aptchat
— Dyverse (@dyverse) April 4, 2017
@AptChat For a lease up, $3000-$4000 #paidsearch, $400 for #inmarketaudiences, $400 #remarketing and $400 #Facebook is standard. #aptchat
— Dyverse (@dyverse) April 4, 2017
@AptChat Our conversion pages tailored to existing property brand & built to maximize #leadgeneration & #attribution – 20-30 conversions/mo #aptchat
— Dyverse (@dyverse) April 4, 2017
Have you tried other Google ad products (banner ads, remarketing, etc.)? Have you found them to be effective?
@AptChat Yes! We’ve seen great success with display featuring specials, bedroom types with schedule tour CTA #aptchat
— Dyverse (@dyverse) April 4, 2017
Our next #AptChat is slated for Tuesday, April 11, 2017 at 12 pm Eastern, and we’ll be discussing the future of social media for apartments. In the meantime, be sure to sign up for #AptChat updates to get these recaps and more delivered straight to your inbox!