Brainstorm

Brainstorm

[ genius blog ]
April 6, 2021

Traditional Multifamily Marketing Strategies No Longer Work

Genius Digital Marketing provides digital marketing services for dozens of multi-family buildings across the U. S.. Over the last 10 years we’ve conducted thousands of tests on channels, campaigns, strategies, services, and websites, targeting millions of people to determine the highest- performing marketing mix for multifamily projects.

ILS Sites: Your Missing Leads

Five years ago, apartment marketing was more simple. We could list buildings on ILS sites for free and we would drive leads. Digital Marketing wasn’t a necessity, but rather a luxury that only the largest development groups and property management teams could afford. But the market is changing. ILS sites have grown to be incredibly expensive and less effective. Competitors are spending more on digital channels. Rent prices are down 20% in some markets, and concessions are at all-time highs. Without a huge investment, it’s hard to compete.

In our experience, we’ve seen that, on average, 65% of scheduled tours originate from digital marketing, quickly outpacing ILS lead generation.

Best Marketing Channels for Multifamily

In our view, there are two key channels for almost any multifamily building. That isn’t to say that there are only two, but if you had to pick, these offer the most value and drive results.

1 Google Ads

Google is the most-used search engine by a long shot (92% of the market). Between paid search, display, and retargeting, Google Ads offers placements and targeting that are essential for multifamily marketing. The most important aspect of this channel is the ability to target potential tenants that are actively searching for apartments, neighborhoods, and even specific amenities.

We’ve found that a majority of booked tours are made as a direct result of Google Ads.

2 Facebook and Instagram Ads

What makes this ad network so valuable to multifamily businesses is the combination of targeting and image-focused ad types. You can choose from available audiences for people who are in-market for a new apartment. And the platforms are heavily geared towards pictures and videos, offering the opportunity to truly showcase your amenities.

Our Experience

It doesn’t matter if your apartment building is 35 units in Tulsa or 750 in Chicago, we offer budget-friendly digital marketing services that drive tours and leases. Over the years we’ve driven hundreds of millions in revenue through accelerated lease-ups, and improved occupancy rates for stabilized communities.

In short, we know digital marketing for multifamily real estate.

Reach out to our sales team for more information on how we can help you connect with your audience.

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