All too often companies drop hundreds and sometimes thousands of dollars down the advertising pipeline just hoping that multiple leads will flow. Sometimes, though, the well runs dry and your efforts aren’t actually as effective as you hoped they would be. So, you’re left with zero return on investment, lighter pockets and an audience still waiting to be captured.
If this is you, don’t worry. It may not be time to cut your losses just quite yet. Here are some reasons your paid advertising might be failing and what you can do to stop it.
1. You don’t know your audience
“If you don’t know me by now, you may never, never, never know me…” Simply Red may have been speaking of love 1989, but the same motto can be applied when marketing to your target audience today—which brings us to the first reason your ads aren’t doing so great; you don’t know your competition. Many managers know the results they’d like to achieve and immediately begin investing into tactics that they believe will get them there. The only issue is that they’ve missed the most important step—getting the 311 on their audience.
You’ll need to take the time to delve deep into the mindset of your renters—understanding what their interests, influences, pain points, dislikes and loves are and channeling these findings into an effective marketing strategy which will ultimately guide your designated advertising channels and produce much greater results.
2. You need to do your research.
Second to getting to know your audience comes knowing the strengths and weaknesses of your advertising channels. Thoroughly understanding the various tools you have at your disposal and how they could impact your target audience is key to signing those leases. While Google Adwords is a popular go-to for several businesses, and may be for your property as well, it does become important to know how to select keywords in order to get the results you’ll be happy with. Let’s take Facebook ads, for instance. While social media advertising is reaching its peak, it may not be the best channel to invest in if you’re managing a retirement or 50-plus community. Knowing which mediums will resonate best with your audience will make all the difference in the world when it comes to reaching your prospects. And when you implement these mediums, make sure you establish conversion tracking to gauge your success.
3. Your website needs work.
While good advertising can do wonders for a property or brand, it may come short if your website isn’t up to par. Your paid advertising can get your prospects to the door of your website, but it is up to your website to essentially seal the deal. Ineffective websites result in fewer conversions, which means fewer leases for you. So, once you make the decision to invest into paid advertising, make sure you also take the time to ensure your website is where it needs to be; this includes ensuring it is responsive, holds strategically organized and useful content, includes images and great “call to actions,” and, of course, offers multiple ways for prospects to reach you.
4. Your goals are not established.
The key to successful advertising, especially online advertising, is tracking, tracking, tracking! Before you begin your paid advertising journey, be sure to first set up some trackable metrics first. And these metrics may come in many different forms, like conversion rates, bounce rates, click through rates, unique visitors, etc. Even if your advertising is producing great results, you’ll still want to be able to prove it with trackable data. This data will also reveal which channels are outperforming the rest, in the event you need to tweak your channels later.
Rentbot can help.
Paid advertising can produce great results for your property, if done right. But, before you start, you’ll want to ensure that your prospects have an effective site to land on. That’s where Rentbot comes in. Rentobt specializes in apartment websites guaranteed to increase leases and better tenants with less hassle. The secret lies in our responsive, SEO-friendly, custom designs and multi-functional online features. In a matter of days, our team will create a beautiful website, personally configured for your property. And what’s better is if you’re not satisfied for any reason within 90 days, we’ll refund your money. Take the Rentbot leap and improve your paid advertising and leases to the next level!
About the Author
Jonsette Calloway joined the Rentbot team in 2015. With a background in public relations, advertising and copywriting, she has helped a multitude of clients achieve their marketing and communications goals within various fields, but she particularly enjoys working with the apartment industry.