See how one community used Google AdWords as a cost-effective way to generate leads for a lease-up.
A large multifamily community in the American southeast
This management company wanted to lease up their community without spending a fortune on internet listing services.
Rentping created a community website for this new community and implemented a comprehensive Google AdWords campaign strategy, targeting the community's name, unique value propositions, and competing communities.
Creating a web presence for a community in lease up phase is a unique challenge. Effective search engine optimization takes time to get going on a new website domain. So in this scenario, it’s crucial that a community’s Google AdWords strategy is solid. One of the hallmarks of a good Google AdWords campaign is a lowered cost-per-click over time. If your ad campaign is successful and continues to provide value to people who click on your ads, Google generally sends more traffic at a lower cost.
The first month the community website was live, Google AdWords campaigns gained 17,407 impressions, 262 clicks, and an average cost per click of $1.44, at a monthly spend of $378.17. The second month, impressions increased to 31,744, clicks increased to 397, and the average cost per click was $.98. Their monthly spend was $390.77.
As you may have noticed, the community only paid $12.60 more the second month. That’s $12.60 more for 135 more clicks and 14,337 more impressions!
But clicks and impressions don’t mean a thing if they aren’t producing leads for the leasing staff to convert to residents. So how many leads did this marketing strategy generate?
The first month, the website generated 70 leads, which is a strong start for a new community without any name recognition. However, the second month, the community website generated 143 leads.
Overall, that’s 213 leads for a brand new property in the first two months it was online, without using any expensive listing services!