Why Look at Seasonality?
Black Friday & Cyber Monday are the start of the holiday shopping ads surge, backed by large e-commerce budgets. Because of this, we typically see an increase in keyword and ad competition. Bain & Company’s most recent report suggests that 2024 BF/CM sales may reach $75 billion dollars for the first time ever. While real estate and multifamily does not directly compete with retail, the rise in ad spend can drive up prices.
Additionally, online behavior fluctuates during the holidays. Many opt for offline interactions to share time with loved ones or embark on travels. These factors, combined with our industry’s own seasonality, suggest that performance for multifamily marketers in Q4 may not yield strong results.
The Process
Digible’s paid media team analyzed more than 1,100 multifamily paid search accounts throughout 2023 to help predict how the 2024 holidays and seasonality can impact our multifamily client’s performance on upcoming paid search & performance max (PMax) campaigns.
Both monthly and weekly data was gathered to highlight performance shifts during holiday weeks. You’ll see in the data below that PMax Campaigns are shown separately since these tend to have significantly higher impressions and operate differently than typical search ads.
The Data from 2023 Holidays
Performance Legend
- Above average performance is green
- Neutral performance is in black
- Below average performance is in red
| Week | Cost Per Click (CPC) | Click Through Rate (CTR) | Cost Per Lead (CPL) | Cost/Phone Call |
|---|---|---|---|---|
| Nov. 1-5th | $1.98 | 13.92% | $19.38 | $75.01 |
| Nov. 6-12th | $2.06 | 13.67% | $20.62 | $84.62 |
| Nov. 13-19th | $2.20 | 13.56% | $22.03 | $98.69 |
| Nov. 20th -26th Week of Thanksgiving & Black Friday |
$1.99 | 13.94% | $22.32 | $113.13 |
| Nov. 27th-Dec 3rd Week of Cyber Monday |
$1.79 | 14.68% | $19.44 | $85.86 |
| Dec. 4th-10th | $2.07 | 14.11% | $20.48 | $92.46 |
| Dec. 11th-17th | $2.16 | 13.43% | $21.38 | $106.87 |
| Dec. 18th-24th | $2.21 | 13.23% | $23.50 | $111.49 |
| Dec. 25th-31st Week of Christmas |
$1.58 | 14.54% | $17.00 | $118.67 |
| Averages | $2.02 | 13.86% | $20.77 | $96.58 |
