Targeting Tips for PPC in Multifamily
Efficient search advertising relies on accurate and refined targeting. The goal of tailored targeting is to create well qualified traffic and in turn create quality leads. Investigating influences such as audience, location, household income, etc. are necessary for creating unique, tailored targeting.
In the multifamily industry, targeting is mostly location and neighborhood based, while also focusing on demographics. The difficulty resides in the fact that real estate is an extremely local product.
As the image illustrates, multifamily housing works best targeting people who are in a specific location, looking to rent, not in a lease or towards the end of their lease, and hence need to move in the near future. Seems almost too narrow to target, right? Good news, Digible offers a game changing workaround offered by no one else in the industry: expiring lease targeting.
Expiring lease targeting does just what it sounds like, it targets renters whose leases are expiring over the next 90 days. This allows properties to narrow their ad spend and focus on the population who are most likely to be influenced by a paid ad. Contact us for any questions on how this can help your property.
Demographics / Location
Income largely influences how and where a potential renter is searching for a property. Higher price range apartments require higher income renters and subsequently higher income searchers. While Google does not allow excluding any group of household income, it does allow significant adjust bid adjustments on any income grouping.
It is important to take notes of a property’s leasing office hours, as well as the general flow of traffic for incoming calls. Do calls significantly decrease on the weekends? If so, bid down on Saturdays and Sundays. Does there tend to be an influx of calls between 12pm and 2pm? Bid up on specific hours, and down on low traffic hours, in order to spend marketing money most efficiently.
Some properties are made for young professionals, some for college students, and some retired individuals. Fortunately Google offers bid adjustments for different age ranges in order to target the appropriate age range.
Where is the property located? Does the neighborhood have a unique name? These are important questions for both location targeting and keyword creation. It is crucial for a property to target the radius around the apartment building itself in order to hit qualified traffic.
Test, Test, Test
Never stop testing different targeting options within an account. There’s always room for opportunity and improvement, but new discoveries will never happen unless time is taken to research.
While this is a generalized approach to targeting for PPC in multifamily, it’s important to remember that every property has it’s own unique characteristics not to be overlooked. Contact us to see how we can take your PPC targeting to the next level.