Get More From Your Multifamily Digital Advertising
Remember the toilet paper hoarding, banana bread baking, “this will only last six weeks” stage of the pandemic? Whew. Home became the four letter word for office, school, gym, Zoom room, and the every-place. And, it changed how renters approached everything from selecting a city to live in, to the number of bedrooms deemed too small, to the amenities they sought out. This all impacts two things: how you market, and what you market.
So, we investigated data from G5 and our Premier Google Partnership to understand what happened in multifamily marketing in 2020, and how it might change your digital advertising plans.
A Day in the Life of G5 Data
You might be wondering, what kind of data does G5 have at our fingertips? Glad you asked. The G5 Customer Data Platform (CDP) is built on first-party data from all customer business locations to create a comprehensive reference of all prospects’ touchpoints and actions over time to form buyers’ journeys.
G5 uses this anonymized data to make our clients’ advertising campaigns more effective. Check out these stats, and remember, this happens 365 days a year.
A-Team = Automation + Action
Here’s the deal, in order to take action on this information, it’s got to be automated. No team member, no matter how talented, can crunch spreadsheets fast enough to update your property’s digital advertising spend to the highest performing campaigns. Every. Single. Day. But, with G5 on your MarTech team, you can.
Narrowing your focus to understand which prospective renters have high intent is impactful. This is why we use intent-based data, paired with automation, to do the heavy lifting. This powerful pair helps us identify demand trends, and shift your property’s marketing spend to be as effective as possible. It’s this knowledge bank of data that we looked into to guide our understanding.
Data from our Premier Google Partnership shows year-over-year multifamily search growth in Q1 2021, was up 19%.
We wanted to know what this means for our clients, so like any good data-detective, we looked to G5 data for answers. What we found is this: in multifamily, increasing spend likely depends heavily on your MSA. But overall, increasing spend continues to make sense for multifamily as demand remains high. But, the bottom line is, you can’t guess your way to better digital advertising results. And even with budget optimizing technology like G5 Intent Trends backing your advertising, marketers need to budget enough money for successful digital advertising campaign strategies. If you set your budget too low, certain keywords and campaigns may be just out of reach. Translate that into marketing speak? Happily. This means that even if the technology is reallocating budget toward your highest performing campaigns, a little budgetary boost could be even better. And, your marketing performance could suffer if your campaigns can’t keep up with demand.
Read our recent white paper to learn how G5 Intent Trends technology empowers your multifamily marketing goals, and prioritizes your advertising spend to the highest performing campaigns. Every. Single. Day.