In order to maintain your title as a successful apartment marketer, you need to stay ahead of the curve when it comes to the latest techniques and strategies for advertising your properties. With that in mind, we put together three facts that explain why paid social ads on Facebook and Instagram are becoming the go-to method for multifamily marketing professionals across the country. If paid social ads aren’t part of your current strategy, check out the list to see why you’re making a huge mistake.
Paid Social Ads Target the Perfect Audience
Targeting your ideal audience is one of the greatest advantages of online advertising. Every data point on the Internet provides an opportunity for apartment marketers to close in on their ideal audience. And with over ONE TRILLION gigabytes of data available online in 2016, it’s easier than ever to target the right people.
While paid social ads on Facebook and Instagram allow you to refine the aim of your ads based on interests, location, and a multitude of other factors, the social networks also have inherit demographic filter: Age/Generation. Even when targeting a large range of age groups, millennials accounted for nearly 70 percent of all impressions, according to a recent study conducted by Respage. This is good news for apartment marketers, as more than 50 percent of the country’s renters are millennials.
Ads Sell at a Discount
Paying for online ads can cost you a pretty penny. This is especially the case when dealing with intent-based ads, such as PPC ads and ads placed on an ILS. But since paid social ads are not intent-based, they’re available at a discount.
In the same Respage study that found millennials account for nearly 70 percent of paid social impressions, we also discovered that the average cost-per-click for paid social was just $0.45. That’s less than half the cost of the average PPC ad click!
Paid Ads Result in Relevant Clicks
Receiving clicks and driving traffic to apartment websites is far from difficult. In fact, it’s one of the easiest things you can do. But receiving relevant clicks and driving relevant traffic is a whole different story.
While we maintain that PPC ads are fantastic – we sell them, and we believe that they’re a much better alternative to the ILS model – they can occasionally trick people into clicking something that they may not find appealing. This is mostly due to the fact that PPC ads can’t display images, and users who click on a PPC ad based on other listed features (think location, amenities, etc.) may immediately leave the property website because they don’t like the property on an aesthetic level.
Paid social ads don’t have this problem. They show potential renters what the property looks like beforehand, so there aren’t any surprises. And fewer surprises result in lower bounce rates. And lower bounce rates translate to more relevant clicks.
Need More Proof?
We think that the above facts speak for themselves. But if you need more reasons to justify an investment in paid social ads, check out our case study on the subject. Just be forewarned that the results may amaze you…