PPC for multifamily: Current best practices & 3 things to test now

In the world of pay-per-click (PPC) advertising, there’s a lot to think about. Which strategies are important these days? And how can you test what’s working?

We’ve got answers and insights for you. This article covers current best practices within PPC for multifamily, paired with three things you should be testing now.

Let’s get to it!

Your intro to PPC advertising

You’re likely familiar with how PPC campaigns work, but in case you’re new to digital marketing (or you just want a refresher), here’s a quick introduction.

PPC is an advertising model where you pay for every click your ad receives, with different factors influencing the amount you pay.

There are different types of PPC ads, with these two being the most common:  

• Search ads = ads that show up on the search engine results page (SERP)
• Display ads = ads that follow you from site to site after you view something

A common PPC strategy — especially in multifamily — is to pay for clicks on an ad that drives users to your website.

To dive deeper into how PPC advertising works, visit these articles:

PPC advertising for apartments: What it is, how it works & how to measure results

PPC campaigns: How long does it take to see results?

Should you use SEO & PPC together?

Current PPC best practices

When it comes to PPC for multifamily, there’s no one size fits all. Your goals, strategy and budget will be unique to your brand. That said, we do recommend a few best practices for today’s apartment marketers.

Here’s the short list:

• Use high-quality assets
• Focus on hyperlocal targeting
• Try Performance Max campaigns
• Create a smart budget

Use high-quality assets

As you might guess, asset quality directly impacts PPC performance.

Not only do engaging, high-quality assets help increase click-through rate (CTR) and conversions, but they also help lower your cost per click (CPC). That’s because search engines use quality and relevance to determine placement. Google, for instance, assigns “Quality Scores” to PPC ads based on images, keywords and more.

Simply put: With quality assets, your ads receive better scores, win more auctions and get shown more often. (PPC auctions are automated processes that determine which ads appear, and in which order, for search queries.)

Performance Max — which we’ll get into below — also favors ads with high-quality visuals.

So, make sure to use high-quality images and videos in your PPC ads. If you’re wondering what constitutes quality content, start with real visuals of your community. Sharp, authentic images and videos outperform stock content every time.

The bottom line: Better creative leads to higher Quality Scores, which leads to better results for less spend. Use real visuals that show off your community.

Focus on hyperlocal targeting

Targeting local renters is critical for PPC success. But what does “local” mean? In today’s multifamily landscape, think neighborhoods, not cities.

You may be familiar with neighborhood marketing, which comes into play here. It’s a smart way to reach the most high-intent leads, at the right time … like during early, neighborhood-level searches.

Hyperlocal targeting (or geotargeting) is a PPC strategy that includes targeting renters conducting those neighborhood-level searches. By reaching this high-intent audience, you increase your campaign’s relevance, drive more conversions and maximize ROI.

As for putting this into practice, tactics include using neighborhood-specific copy and radius targeting around a central point. Experts who specialize in PPC for multifamily can help with this if you’re not sure where to start.

The bottom line: Hyperlocal targeting helps you maximize ROI. Think about targeting renters conducting neighborhood-level searches.

Try Performance Max campaigns

Performance Max campaigns are gaining major traction across industries, including in apartment marketing.

If you’re unfamiliar, this Performance Max article does a good job of explaining things. But here’s a brief overview: Performance Max is a goal-based campaign type that uses AI to improve results. Google takes your criteria, then uses AI to find the right prospects, show relevant ads and place optimal bids.

The big benefit of Performance Max is the scale in which it improves results. We’re seeing more traffic and higher-quality leads, particularly when paid search campaigns are in the mix.

Recent Google data comparing Performance Max campaigns to standard search campaigns shows:

• 18% more traffic
• 27% more conversions
• 8% higher ROAS

With all that in mind, consider Performance Max an important piece of your PPC strategy. Tips include using audience signals and providing customer match lists to Google. The right PPC experts can also help you navigate these campaigns.

The bottom line: Performance Max campaigns, especially when combined with paid search campaigns, help you optimize performance and budget. Treat automated, AI-driven advertising as a must-have.  

Create a smart budget

We’ve touched on advertising spend, but not the specifics of what to do. How can you actually create a smart PPC budget?  

As mentioned, there’s no one size fits all, but we can recommend a starting point. We’ll focus on Performance Max since it should be a pillar of your PPC strategy.

Start with three times your daily budget for non-branded search. This helps you progress out of Google’s “learning mode” quickly, since non-branded search campaigns already have a baseline for traffic and conversions.

In short, you’re giving Google more budget to explore, which helps the algorithm adjust and optimize your campaigns faster.

The bottom line: Devote enough spend to quickly get through Google’s learning mode. Start by tripling your daily budget for non-branded search.

3 things to test now

You’re factoring in these best practices, now what? It’s time to test a few things within your PPC campaigns to see what delivers strong results.  

Here are three things to test now:

1. AI Max: Try dynamic ad copy and images to see what works best. Be sure to include a robust negative keyword list to avoid wasting budget on irrelevant traffic. (AI Max is Google’s opt-in feature, specifically for search campaigns, that uses AI for keyword-less targeting and asset generation.)
2. Voice search and conversational ads: Test natural language and long-tail phrases. Don’t forget to keep that hyperlocal targeting to reach high-intent leads. (Voice search allows users to search by speaking rather than typing. Voice search assistants use AI to understand and respond to commands.)
3. Channel-level reporting: Compare which channels perform best within your Performance Max campaigns. (Google’s channel-level reporting provides data we didn’t always have. It shows which channels are performing better than others, to help you make intentional adjustments.)

Get familiar with us

PPC for multifamily isn’t exactly a walk in the park. But if you follow these best practices and continuously test what’s working, you can set your brand up for success.

If you’re looking for more professional guidance, you’re in the right place. We have a stellar team of experts who focus all their efforts on PPC for multifamily. Whatever your goals are, we’ve got the expertise to help.

Get a closer look at our PPC services to see what’s possible. And if you’re ready to chat with us and get a free PPC consultation, reach out here.

Until then: Happy advertising!