how to build a successful multifamily SEM strategy
Search Engine Marketing (SEM) involves the promotion of your apartment community by increasing visibility in search engine results pages (SERPS) through optimized ads and targeted advertising. A strategic SEM plan will allow you to reach customers precisely at the right moment, filter audiences through detailed targeting, beat out the competition’s budget and provide personalized tailored ads through retargeting campaigns. Below we elaborate on how an SEM strategy helps build brand awareness while generating qualified leads for a potential lease.
a competitive & well-researched advertising budget is crucial
1. What is my competition spending in the area compared to my budget?
2. What is the average cost-per-click (CPC) for my targeted locations?
4. Does the budget allow for a favorable impression share?
5. If interested in running a competitor campaign, does my budget have that much flexibility to do so?
know what metrics to monitor
1. Should I be concerned about overall impressions?
2. What does search absolute top impression share mean?
3. Based on my metrics, how is my account performing?
Questions like the ones above are widespread. The Google Ads interface provides a ton of information and data. When evaluating the success of an account, the primary key performance indicators (KPIs) we look at are; average click-through rate (Avg. CTR), average cost-per-click (Avg. CPC), conversion rate (CVR) and cost-per-conversion.
That is not to say other metrics are unnecessary or not useful, but as a lead generating tool, these four metrics provide an in-depth look into how well the account performs. Campaigns with a high CVR and a low cost-per-conversion will be the campaigns that give you the most significant return-on-investment (ROI).
campaign structure is essential
How you define each campaign, each ad group within that campaign, ads, and keywords must align properly for your ads to achieve a satisfactory optimization score, and maximize the keyword bidding success for your property.
Accounts should be separated in a favorable manner, which ensures they are not too big or too small, search volume-wise. Each campaign should have one designated purpose. For instance, a campaign for each floor plan offering and a location-based campaign focusing on the neighborhood in which your property is located.
streamlined tracking is a must
Ensure that the following platforms are linked and tracking accurately:
- call tracking
- linking to Google Analytics to report on website source traffic
- Urchin Tracking Modules (UTMs) on the landing pages to track how people are reaching the website
- Google Tag Manager (GTM) for conversion tracking, remarketing and dynamic number insertion (DNI)
monthly audits & periodic account updates are highly encouraged
An initial go-live audit is necessary to ensure that the ad content & proper account settings are uploaded correctly into Google Ads. It is crucial for conversions to be accurately tracking and that your initial keyword bids are pacing properly with your monthly budget.
After launch, periodic audits (timeframes are dependent on package level) are essential because, depending on how the account performs, the correct optimizations can be made to improve the health of the account.
LL search marketer
With an increasing number of potential residents researching online, search engine marketing has become a crucial online marketing strategy for increasing reach. LeaseLabs solution is Search Marketer, which immediately enhances your search engine presence and visibility through paid search, remarketing, Gmail advertising, and call tracking. We optimize your budget to build a strong brand presence across popular search networks such as Google, Bing, and Yahoo – and track campaign success with conversion-optimized landing pages. The Search Marketer is your comprehensive paid-search solution that instantly drives qualified traffic to your website, increasing both leads and leases.