Launching on a Budget: Cost-Effective Digital Marketing Tools
Cost-Effective Digital Marketing Strategies and Guidance Through Market Uncertainty
Let’s be real: the multifamily market is a scary place almost always, particularly when words like reduction in occupancy, high-interest rates, and recession are rearing their terrifying heads across news and social channels. In the ever-evolving landscape of the multifamily industry, owners and asset managers can find themselves in an uncertain position, hesitant to launch new creative and digital assets due to financial instability in the market.
This reluctance can stem from a genuine concern for conserving resources (cash) or the hesitancy to invest in an asset where they have yet to build substantial equity. However, what many fail to realize is that, in the long run, sitting on an asset with unfulfilled marketing potential can lead to substantial financial losses.
As a full creative and digital agency, our team at Agency FIFTY3 has provided marketing strategies for communities in just about every submarket. And, to combat feelings of uncertainty and stress, we’ve curated our business to be nimble and to provide solutions for clients on both ends of the money-spending spectrum.
Allow us to walk you through some cost-effective digital marketing strategies in hopes of disavowing feelings of uncertainty and encouraging the launch of a potential money-maker you may be sitting on.
Cost-Effective Digital Marketing
Some clients are hesitant to invest in an asset because of the price tag that accompanies custom brand development. At Agency FIFTY3, we have mastered the art of the templated approach – a cost-effective solution that can still deliver results without the price of a custom brand. Using this approach, we have created brands that may not be fully customized, yet they still appear high-end and effectively perform.
One of our best case studies highlights Hangar 61, a project packed full of potential on a penny stock budget. Launched to be a customized brand from a design perspective, yet templated in almost everything else (website, print materials, geo-fencing ads, etc.), it has become a successful, productive property, pulling in leases from an effective PPC and social campaign. Hangar 61 gave Agency FIFTY3 complete creative control when it came to brand identity (font, color palette, logo, brand voice, etc.) as long as the collateral we created worked within budget-friendly templates.
Other Cost-Effective Digital Marketing Tools
Along with templated collateral, other tools in the digital advertising world can help launch an asset quickly, allow for a near-immediate return, and can be employed despite a tight budget.
Pay-Per-Click (PPC) Advertising
Pay-per-click advertising, or paid search media, is a digital marketing method that involves placing paid advertisements on search engine results pages (SERPs). Businesses bid on specific keywords and pay each time a user clicks on their ad. This form of advertising can be highly targeted and tailored for a community, ensuring a message reaches the right audience at the right time.
PPC offers immediate visibility, precision in targeting, and cost control, making it a practical choice for communities of all sizes. Its data-driven nature and adaptability enable continuous optimization, while its competitive advantage can be a game-changer in a saturated marketplace.
Social ads can also be beneficial even if operating on a tight budget. Social ads contribute to brand awareness and offer quick results, making it a vital initial marketing investment that benefits from higher returns in the long run. It’s also easy to have a multi-channel presence based on where your target market spends time-consuming content, so you can be sure your brand is accurately represented across all social channels.
Search Engine Optimization (SEO) is maximizing the opportunity for your website to rank as high as possible for keywords that your target market is searching for in organic search results. Google rewards the most relevant websites for a user’s search with higher rankings, so you want to be sure your website matches what your target audience is searching for.
SEO is a cost-effective long-term strategy. Unlike paid media, where you pay for every click, once the website is well-optimized for organic rankings, the budget may be decreased while maintaining results. Over time, investing here allows your digital strategy to be less reliant on paid ads.
Geo-fencing allows you to define a specific geographic area and target potential customers with compelling display ads. As you can imagine, these ads can be fully customized with unique copy and design.
However, to meet our clients’ needs, Agency FIFTY3 has launched geo-fencing ad templates as a cost-effective solution for clients looking to save money where they can. These templated yet branded ads serve their purpose of advertising to a micro-specific audience, and our clients save money by taking a less customized but still effective approach.
The Good, The Bad, and The Truth
We understand the decision to launch or hold on an asset is massive and can feel daunting, scary, and consuming. Despite the hesitancy, the one thing we can all agree on is sitting on an unlaunched asset means a significant amount of lost time that asset could have had to make money and prove to be a valuable investment. These solutions are just the tip of the iceberg when it comes to our cost-effective digital marketing bag of tricks. Allow Agency FIFTY3 to be your partner through uncertainty, as we can create tailored solutions, like the above, that work for you. Get in touch with our team today!
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