How to Achieve Predictable Marketing Spend at Scale
As a self storage operator, you spend a lot of time budgeting and creating a financial plan for the year ahead, which is why unpredictable marketing spend — whether too much or too little — can lead to big headaches down the line. It may sound crazy, but underspending and exceeding revenue forecasts can actually cost you more in the long run when taxes are taken into account.
The ultimate goal is to spend to plan, which can be difficult to do with humans manually adjusting your digital advertising campaigns. G5’s Smart Digital Advertising solution with Budget Optimizer and Cross-Channel Spend Optimizer on the other hand makes it possible with automation and predictive marketing technology.
Set a Reasonable Budget
Enabling your small but mighty marketing budget to drive the greatest impact and prevent you from incurring additional costs requires predictive marketing techniques that help you make the best decisions. G5’s Budget Optimizer helps you spend smarter with data-driven budget recommendations and competitive insights. The data collected is used in future campaigns to achieve predictable marketing spend.
Budget Optimizer bases its recommendations on the average market spend in your area and forecasts the number of clicks and conversions you’ll get. This makes it easier to plan how much you have to spend to achieve your move-in goal.
Use Automation to Adjust Budget Across Campaigns, Channels & Networks
G5’s Cross-Channel Spend Optimizer takes predictive marketing to the next level. This tool automatically adjusts advertising spend across all of your campaigns, channels (social, search, display, and remarketing), and networks (Google, Facebook, etc.) that are converting by analyzing millions of data points. Automation takes the guesswork out of where to allocate your budget and immediately applies adjustments to the campaigns driving the most conversions.
Cross-Channel Spend Optimizer helps spread a location’s digital advertising budget across every day in an advertising cycle/month. Typically, when a location runs out of money and/or its campaigns are paused, data stops being collected and the relearning period starts over again the next time it has money available to spend. This results in high fluctuations in where, when, and how much to spend. Mid-cycle campaign pauses result in gaps in the data due to a lack of data collection.
Data collection is valuable for future digital advertising initiatives. By spreading a location’s budget throughout every day of the advertising cycle, campaigns never pause and data doesn’t stop accumulating. This predictive technology plays nice with Google and other networks, allowing you to spend to plan.
Make Data-Driven Marketing Decisions
You put immense energy and research into creating a marketing budget for your self storage facilities. Spend to plan and avoid under and overspend that affects tax rates which can end up costing you more. G5’s Budget Optimizer and Cross-Channel Spend Optimizer work together to help you meet marketing goals by spending to plan and helping you make data-driven marketing decisions specific to your unique properties.
Download our Predictive Marketing Infographic to learn more about how you can increase conversions and control your spend.