Apartment Ad Strategy Part 2: Meta & OTT
In the dynamic landscape of apartment marketing, finding the right avenues to connect with potential renters is paramount. In part one of this series on paid ads, we discussed the benefits and high-level how to’s for Google ads and ILS (internet listing sites). In part two, we’re breaking down two powerful platforms that have emerged as game-changers for advertisers in the housing industry and beyond: Meta (formerly Facebook) and Over-The-Top (OTT) streaming services. Apartment communities can effectively leverage these platforms while ensuring compliance with fair housing laws. Let's dive into the world of Meta and OTT advertising.
Ads on Meta: The Social Media Powerhouse
The Meta ad network spans both Facebook and Instagram. According to a recent survey, 84% of persons aged 18-29 in the US use social media, and 81% aged 30-49. That’s a huge percentage of people on social platforms. Not every social platform is going to be the best strategy for your property, you’ll need to take your target demographic into account.
Audience Targeting
One of Meta's standout features is its robust audience targeting capabilities. However, due to fair housing constraints, apartment communities can’t segment their audience by specific demographic information. This means that your ads on Meta will be more spray and pray than targeted.
Diverse Ad Formats
Meta supports a plethora of ad formats, from traditional image ads to engaging video ads and interactive carousel ads. This flexibility allows apartment communities to tailor their creative content. Tailoring your ad creative to be more or less appealing to an audience may help you reach the right crowd and still be in compliance with fair housing.
Engagement and Interactivity
Social media platforms, such as Facebook and Instagram, offer high levels of user engagement. Users can interact with ads through likes, comments, and shares, fostering a sense of community around your apartment community's brand. Be sure to have someone monitoring your social media accounts and actively responding to comments to keep your audience engaged. This could be a leasing agent, designated social media manager, or a third-party agency, like Visceral Ore, who monitors your social as part of our flat-rate omnichannel service.
Conversion Tracking
Meta provides robust conversion tracking tools, allowing advertisers to measure the effectiveness of their campaigns. This data-driven approach enables optimization for better performance over time.
Ad Placement
Instagram is most used by younger people, with 72% aged between 12-34. Facebook users, on the other hand, are primarily middle-aged, 49.3% are aged 25-34 and 73% are 35-54. Knowing these statistics and keeping tabs on how they may change in the future, will help you manage where you’re placing ads. You can shift your ads to only show on Instagram or Facebook, depending on the average age range you’re looking for. This is especially useful if you’re a student or senior housing community.
Ads on OTT Platforms: Capturing the Streaming Audience
OTT advertising (ads on streaming platforms like Hulu) is a more affordable option than regular cable ad spots. You may be thinking that apartments shouldn’t put ads on these platforms or spend the money here, but it all comes down to your goals. If you’re in a city that is booming with people moving from across the country (looking at you, Austin, TX), this may be a great way for you to reach a wider, national audience.
Targeted Video Advertising
OTT platforms offer an excellent opportunity for highly targeted video advertising. Apartment communities can engage potential renters through visually compelling content by reaching users on connected TVs, streaming devices, and other digital platforms. You already have great video content for your website & social. Transfer that to your OTT ads.
Engaging and Full-Screen Experience
OTT ads often provide a full-screen, immersive experience on larger screens, such as TVs. This can be particularly impactful for brand awareness and storytelling, creating a more immersive viewing experience for the audience, which can give you an opportunity to include a QR code to direct them to your Tour landing page or Floor Plans landing page.
Less Ad Clutter
Compared to social media feeds, OTT platforms may have less ad clutter. This presents a unique opportunity for apartment communities to stand out and capture the attention of viewers in a less crowded advertising space.
Capturing TV Audiences
As more individuals transition away from traditional cable TV, OTT advertising becomes an effective way to reach viewers who might not be accessible through other channels. This is especially relevant for apartment communities targeting a demographic that embraces streaming services.
When deciding between Meta and OTT advertising, it's essential for apartment communities to consider their target audience, campaign objectives, and the nature of their offerings. A hybrid approach that combines multiple platforms may yield optimal results, capturing diverse audiences at different touchpoints in their customer journey.
Remember, success in advertising isn't just about choosing the right platform; it's about continuous optimization. Regularly monitor campaign performance, analyze data, and be willing to adjust strategies based on real-time insights. We know that in multifamily, speed is everything. When you start a promo that only runs for 1 month, you need that communicated on every piece of marketing collateral as soon as possible.
Whether you opt for the extensive reach and engagement potential of Meta or the immersive, targeted experience of OTT, a thoughtful and compliant advertising strategy will set your apartment community on the path to success. By embracing the strengths of each platform and navigating potential challenges with finesse, you can create a compelling narrative that resonates with your target audience, driving conversions and fostering lasting connections.
