The most recognizable digital advertisements—banners, pop-ups, videos, and other images displayed on various web pages—are typically the results of a remarketing campaign.
Remarketing campaigns are a commonly used tactic by internet marketers that targets digital ads toward individuals who have already visited and taken action on a website but didn't buy.
If you liked that tweet by Chipotle or searched for a new pair of running shoes on Nike.com, the odds you'll be greeted by a digital ad by either of those brands further on in your browsing experience is exceptionally high because advertising platforms like Google place a small file, or "cookie," that then loads and displays certain ads on other websites.
And here's an unignorable truth—Internet users often find these ads intrusive. As such, more steam is behind the effort to implement better privacy practices and put users in control of how their actions online are tracked and used by advertisers.
All that said, you're probably wondering why we continue to advocate that multifamily marketers implement remarketing campaigns into their apartment's digital advertising strategy.
The answer is that remarketing digital ads for apartment communities are highly relevant and personal to their target audience and, therefore, much better received than an annoying ad for that burrito or running shoe you don't want to keep seeing over and over again. They are essential in nearly every renter's search for an apartment and directly impact a community's leasing success.
There are three reasons why remarketing campaigns are so critical for apartment marketers, which we'll cover in this blog. They include:
- Shopping Experience
- Timing & Intent
- The Psychological Factor
Remarketing ads are effective for multifamily marketers because renting an apartment differs drastically from buying the right running shoe. Let us explain.
Your prospective residents are making a serious, financially-implicating, life-altering decision to rent. They cannot confidently lease from your community without searching for and reviewing the various available apartments that fit their ideal location, floorplan arrangement, amenities, and rent costs first. And in most cases, these prospects start with zero knowledge of those potentially available communities at the start of their search anyway.
So after they've discovered your apartments and have actively chosen to visit and make an interaction on your website, remarketing to them is considerate of their search process because you're reminding them that your apartments fit what they're looking for as they narrow their choices. It's unfair to expect them to convert to a lead and sign a lease after their first visit to your website when they have yet to compare your apartments to others.
That's why when they see one of your display or video ads from a remarketing campaign, they understand that to be simply a tactic that you're deploying to help them keep your community in mind, not as an invasive action. They also see its relevance because they're currently in the search process.
Timing & Intent
Another notable difference between searching for the right running shoe online and renting an apartment is timing and intent.
Usually, when you're in the market for new running shoes, you have an indefinite amount of time to select. Maybe your current shoes have hit their limit, or you want something more comfortable for longer runs. In either case, while you know you want new running shoes, your buyer's intent is lower simply because you don't have to take immediate action. There’s no move out date in relation to your running shoes.
In contrast, most prospective residents only have limited time to research, tour, and lease a new apartment, and the buyer's intent is already high anytime someone enters the leasing process. There's always some rigid deadline they know before searching for an apartment when their move must occur. You can easily imagine a scenario where someone got a job offer that requires them to move out-of-state as soon as possible, or something similar.
56% of respondents in a rent.com survey said their apartment search lasted less than three weeks, while 18% said theirs was less than one week. While we don't know why their searches were short, it's fair to assume that timing was of the essence and that they had more pressure on them to complete the leasing process faster.
There is an evidential apartment marketing 'sales funnel,' and remarketing campaigns are squarely in the middle of that funnel, between when a prospect first becomes aware of your community (top) and directly searches for and interacts with your website (bottom).
Knowing that the timing of looking for an apartment is becoming shorter and that intent is high, you need to ensure your community stays in front of interested prospects multiple times during their search so that they come back to you when they've made a decision. Remarketing campaigns are best for accomplishing this, and using them in your digital ad strategy will maintain a competitive advantage for your apartments.
The Psychological Factor
Potential residents build a sense of familiarity each time they see your community’s logo, colors, branding, or floorplan photo in an advertisement. After about five impressions, they’ll remember your apartment.
And when they see images or videos of your apartments repeatedly, they begin to trust it more—otherwise known as the “Mere Exposure Effect.”
So, while remarketing campaigns may not result in many clicks to your apartment community’s website, they provide valuable additional exposure to potential residents and help them feel more confident that your apartments are suitable for them. That alone makes remarketing campaigns worth the cost!
There's another psychological component to remarketing ads other than repeated exposure—the part of the brain responsible for seeing is also responsible for choosing.
So make the choice obvious and invest in high-quality photo or video content of your apartment's units and amenities for your display ads in remarketing campaigns. You want them to build trust and set an appeal for your community that makes it stand out from the other communities a prospect considers.
Remarketing campaigns are powerful for multifamily marketers because they target potential residents who’ve already visited an apartment community’s website. They keep those apartments top of mind by establishing important trust and appeal during a short, competitive search process. Combined, that prompts more prospects toward returning to an apartment community's website again and converting.
To no surprise, remarketing campaigns play a crucial part in the digital advertising strategy we've developed for thousands of apartment communities. Schedule a demo to learn more.