Staying ahead of competition in multifamily requires innovation, efficiency, and strategic ad placements.
Google’s Performance Max campaigns have emerged as a game-changer, helping apartment marketers maximize visibility and conversions while optimizing ad spend. Digible is here to break down why Performance Max should be a key component of your media mix and overarching multifamily marketing strategy.
Reach More, Spend Smarter
Performance Max automates ad delivery across Google’s vast ecosystem, including Search, Display, YouTube, Gmail, and the Discovery Feed. By using machine learning to determine the best placements, your property gets in front of potential renters at the right time, on the right platform. The power of automation adjusts campaign placements in real-time, and as a result, offers higher conversion rates at a more manageable cost.
Digible’s Performance Max campaigns successfully drive low Cost Per Clicks (CPC) while maintaining high conversion rates.
In 2024, the multifamily industry saw sky-high costs on Google’s traditional paid search, so by incorporating Performance Max in tandem with search campaigns, advertisers can reap the benefits of higher impression counts paired with efficient cost and conversion metrics.
| 2024 Data | Cost-Per-Click (CPC) | Click-Through-Rate (CTR) |
| Search | $1.85 | 13.01% |
| Pmax | $0.82 | 3.39% |
| % Change | -$1.03 | -9.62% |
Winning the Budget Game Across Channels
Balancing ad spend across different channels can be a logistical nightmare.
Performance Max simplifies this by dynamically allocating your budget where it delivers the best results. Whether it’s a high-intent search query, a compelling YouTube video ad, or a visually engaging display ad, Google’s AI prioritizes placements that drive the best outcome.
At Digible, we recommend running Performance Max campaigns in tandem with a maximize conversions bid strategy to support aggressive lead goals. This automated budget distribution ensures your multifamily community gets the most out of every dollar spent.
Smarter Targeting, Better Results
The strength of Performance Max lies in its ability to leverage Google’s audience insights and first-party data. This unique targeting feature is called “Audience Signals”.
Digible recommends that multifamily marketers fuel Google’s algorithm with first-party data such as website visitor lists or Google-supported signals such as affinity or in-market audiences to achieve maximum return. Instead of relying solely on manual keyword targeting, these campaigns use AI-driven intent signals to identify and engage potential renters who are actively searching for apartments. This advanced targeting reduces wasted impressions, improves lead quality, and ultimately drives higher occupancy rates with lower acquisition costs.
AI + Quality Creative = Leads
AI-driven automation is only as effective as the creative assets that fuel it.
Performance Max campaigns allow for a seamless integration of compelling visuals, engaging ad copy, and high-quality video content. The more creative assets you provide, the better Google’s AI can match them to the right audience and format.
For multifamily properties, this means eye-catching property images, virtual video tours, and strong calls-to-action can be dynamically optimized to capture interest and generate more leads.
Performance that Packs A Punch
Multifamily marketing is highly competitive, and every lead matters. With the rising cost of CPCs and declining CTRs across the multifamily industry, Performance Max can provide much-needed support in reducing cost-related metrics and increasing conversions across your marketing mix.
Across a data set of 700+ properties, Digible analyzed the performance differences between traditional search campaigns & Performance Max. The results showcase that standard search campaigns yield higher overall CTRs. However, Performance Max won out in cost efficiency metrics such as CPC, CPA, and Cost per Phone Call.
You may be asking yourself, should I just give ALL of my budget to Performance Max? The answer to that question is no.
Google Search still holds a strong stance at the bottom of the conversion funnel, helping to drive conversions from intent-driven queries and ensuring your brand stays at the top of the SERP (search engine results page). Performance Max is a tool to enhance conversion performance and maximize budget allocation beyond standard queries.
Performance Differences Between Search Campaigns & Performance Max
Campaign Type | CTR | CPC | CPA | Cost / Phone Call |
| Standard Search | 8-10% | $<2.50 | <$20.00 | $80-90 |
| Performance Max | 3.38% | $0.82 | $10.91 | $39 |
The Digible Advantage
At Digible, we specialize in multifamily marketing strategies that leverage the latest in ad technology to drive results. Google’s Performance Max campaigns offer a unique opportunity to streamline your marketing efforts, maximize ad spend, and attract lead volume at scale.
If you’re ready to take your multifamily advertising to the next level, let’s chat about how Performance Max can work for you.
