Comparing Geofencing Click-Through Rate Performance for Different Amenities
Over the course of 90 days, our team tested image types within Geofencing to determine which image type had greater performance in terms of CTR. This was an A/B test that focused on two types of creative; Kitchen image vs Gym image across 7 multifamily properties located in Chicago, IL. Each campaign targeted only local competitors' properties and the same ad creative template, colors, CTA buttons, and headlines. All fence sizes within the campaign had an approximate 200-meter radius and the same budget amount.
In January gym images had a higher CTR than kitchen images by 3.85%. In February, kitchen images just barely outperformed gym images by 0.19% as the sum of impressions and clicks were almost identical. In March, kitchen images did outperform gym images by 5.55%. Continued testing is necessary to achieve conclusive results, as over the course of these three months, we only saw a 0.21% difference in CTR performance. Check out our other case study on seasonality.
*Please note the “difference” in the charts above, as these will highlight the true nominal differences.
Although kitchen image CTRs did not outperform gym images in January, they continued to increasingly outperform the CTRs of the gym images for February and March. If this correlation is to continue, it is best practice to include kitchen images as a standard creative image setup.
When analyzing Geofencing performance and creative setup, it is crucial to understand the time of year that our campaigns will run. For example, we should never be promoting a property’s pool in the middle of the winter months (unless it's an indoor pool!). Therefore, when analyzing the performance of gym images, we believe it may be important to understand when future residents are looking to hit the gym and maintain their wellness goals. Is it possible that gym images performed better in January due to the fact that there are a higher amount of people interested in going to the gym at this time, as we head into the summer months? Sure, we believe that this could’ve had an impact on performance and that this may be an option for future testing. Nevertheless, we do believe that it may be of benefit to have our campaigns highlight gym photos for the month of January.
Concluding the data, we found that there was no significant difference between kitchen or gym creative performance. Although in January of Q1 2023, gym images outperformed kitchen images by 3.85%, Kitchen images outperformed gym images in February and March, ultimately outperforming gym images across the quarter by only 0.21%.
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