Paid Social Media Overview

What is Paid Social?

Paid social is a type of digital marketing that involves using paid advertising on social media platforms to reach a specific audience. This can be done through a variety of ad formats, such as image ads, video ads, and carousel ads.

Goal of Social Media Ads

The goal of social media ads are to drive brand awareness and consideration for your property to future renters. This means that social media ads are intended to increase the number of people who are familiar with your community, the lifestyle available there, and what your community has to offer. First impressions are important and often future renters first impressions happen on social media.

How to Get More Out of Your Social Media Ads

Social media platforms, like Facebook, take a tailored approach to connect your ads to the right person. They take several metrics into consideration. However, below are the main areas to focus on when running a Paid Social Media Advertisement campaign:

• Creativity: Paid social media ads can be very creative and engaging. You can use images, videos, and even interactive elements to grab people's attention and make them want to learn more.
• Bid: The amount of money you have in your budget and the amount you are willing to pay for a click on your ad.
• Relevance: Your paid social media ads should be relevant to your future renters and to the platform you are advertising on. This means that your ads should be visually appealing and that your messaging should be clear and concise.
• Testing and Optimization : It is important to test and optimize your paid social media campaigns on a regular basis. This means tracking your results and adjusting your targeting, creative, and messaging as needed.

Are There Any Drawbacks to Paid Social Ads?

Paid social can be a very effective way to drive traffic to your website and generate a buzz for your community. However, there are big benefits but also some downfalls you should know about before running Social Media Ads.

• Cost: Paid social ads can be expensive, especially if you are targeting a large metro area. With Fair Housing regulations we can only target a 15 mile radius around the community. So, if your community is in a highly populated area, the cost per click would be higher than an apartment on the outskirts of town.
• Competition: There is considerable competition for user attention on social media, so it can be difficult to stand out. Investing in custom social ad creative is highly recommended to stand out from the rest of the communities that have similar offerings to your community.

What are the selling points of Paid Social Media Ads? 

• Reach: Paid social ads can help you to reach a large audience, including people who are not already familiar with your brand.
• Branding: Social media ads offer a great platform to show off your unique value proposition. You can create videos and ads showing potential renters what makes your community so much better than the other apartments nearby. Branded ads with unique value propositions are highly valuable.
• Measurable results: You can track the performance of your paid social media campaigns very accurately, so you can see what's working and what's not.

How Much Should I Spend On Paid Social Ads?

Paid Social Media Ads budgets are flexible and scalable. You can set a monthly budget that aligns with your property's goals. If you hit your goals or your goals change, we can help you adjust spend levels to help hit your new goals.

Here are some budget examples to help you establish a good baseline for how much you should be budgeting for Paid Social Ads, but we are here to help you create a custom spend level with your property's goals in mind.