So, you’ve heard that Google Ads is the premier digital advertising medium for properties but are still unsure of its affordability. Don’t worry–it’s a very reasonable and common consideration. If you’re still on the fence about your investment, keep reading.
Here’s the low down when it comes to affording Google Ads and how you can determine if it’s the best move for your property.
What should I budget?
Keeping in mind that there’s no one final estimate for all campaigns, the average Google Ads cost per click is about $2.69 across all industries. This pricing can vary depending on how ads are managed, industry type, duration, keywords, targeting settings, effectiveness, and more. The more competitive the industry, typically, the higher costs per click can run. The silver lining here is that one new, qualified renter alone could result in an ROI of over $1,000 monthly (depending on the market), justifying the total spend. Some properties have a dedicated Google Ads budget and have the flexibility to spend upwards of five hundred dollars to a couple of thousand dollars monthly. An excellent strategy for first-timers can be to test a single campaign with a smaller budget, analyze the movement, and then increase the spend incrementally.
How are costs determined?
One significant benefit of Google Ads is that it is entirely customizable, which means you control how much or little you spend daily, weekly, or monthly. You can adjust your spend limits in real-time as you see fit and tweak certain features, like landing pages, to create more outstanding results.
How to save costs
If you’d like to keep your Google Ads costs on the lower end, you can leverage a few tactics. The first of these is doing your due diligence with your keyword research. By leveraging long-tail keywords, you’ll likely experience less competition which translates to lower costs per click. They tend to be highly specific in nature, thus increasing your conversion potential. It may also be helpful to experiment with various keyword variations. Google’s keyword planner tool is excellent for this, as it will also provide the average bids and searches for the keywords you choose.
Other strategies include:
- Testing multiple landing pages.
- Improving your quality score.
- Lowering your bid amounts.
- Targeting your ads as much as possible.
Do this before you invest!
Before you complete your Google Ads investment, you’ll want to make sure that you first do your due diligence so that your campaign will experience success.
- Make sure your ad copy is relevant and catchy to stand out among your target audience.
- Optimize your website and any associated landing pages so that you experience seamless conversions.
- Do your research! From keywords to content–review what your competitors are doing in this space and, if they’re achieving similar desired results, tweak your campaign to mimic their strategies.
- Create a schedule to determine how often you will review your campaign results and perform those needed tweaks, like copy changes, bid adjustments, and other targeting factors.
Rentbot can help.
In addition to designing optimized websites for multifamily communities, we’re also Google-certified and experienced in helping multifamily businesses advertise their apartments online with excellent results. With our help, our Google Ads clients notice immediate website traffic, more high-quality leads, measurable results, and more. By partnering with Rentbot, you won’t experience setup fees or an annual contract–simply get started and test your campaigns for as long as you’d like. If you’re ready to get found with Google Ads, set up your free consultation call today.
About the Author
Jonsette Calloway joined the Rentbot team in 2015. With a background in public relations, advertising, and copywriting, she has helped many clients achieve their marketing and communications goals within various fields, but she particularly enjoys working with the apartment industry.