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In the ever-evolving digital landscape, online advertising has become an
essential tool for businesses to reach their target audience. For
multifamily property owners and managers, Google Ads can be a highly
effective platform to generate leads and increase occupancy rates.
However, you might be considering whether to run a centralized Google
Ads campaign with a group of properties versus running a stand-alone
campaign for individual properties.
Although centralized marketing and leasing have been hot topics in
multifamily over the past couple of years because of attractive
opportunities to be more efficient with shared budgets across multiple
properties, it is not necessarily the right strategy for every property.
In this article, we will explore the circumstances when this approach
makes sense for your property and does not.
A centralized or regional Google Ads campaign involves creating shared
campaigns to target specific geographic regions where you have
multiple properties located in a nearby vicinity. There are several
potential benefits to a shared campaign, such as pooling together with
other properties to utilize a shared budget.
This shared budget can help you save at the individual community level
and also help you create a larger overall budget that would be big
enough to beat most or all of the advertising competition in the local
market you are targeting.
Here are some scenarios where a centralized A.K.A. regional approach
may be appropriate for a Google Ads campaign:
As you can see, there are many good reasons to utilize a shared budget for PPC advertising on Google Ads. Before you get too excited, I would like to outline a few scenarios when a centralized advertising campaign would not be effective or even possible.
One of the main challenges to executing an effective centralized PPC advertising campaign on Google Ads, is making sure you have a good landing page and conversion strategy. When someone clicks on your ads and are brought to your shared landing page, are they going to easily be able to find the right property for them? It can be overwhelming to have multiple options to choose from on a shared community landing page if you don’t think through the experience for your website users.
Make sure it is clear what your page is about, and have your community or availability search process be as efficient as possible, and allow them to contact you easily if they need assistance in choosing the right community for them. Overtime you can utilize experiments and data analysis to optimize the website conversion process for your centralized advertising campaign.
Some groups of properties can even share leads through centralized leasing processes, which could be a way of being even more efficient in converting prospects to leases if that option is available to your portfolio.
In conclusion, whether to run a centralized Google Ads campaign for your multifamily property depends on various factors, such as the geographic spread of your properties, brand recognition, budget considerations, target demographics, and the competitiveness of the local housing market. By carefully evaluating these factors, you can make an informed decision that maximizes your advertising ROI and helps you achieve your occupancy goals. Learn more about maximizing your ad spend by scheduling a complimentary consultation today .
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