Marketing Funnel for Class C Apartments
We dive into what your marketing funnel distribution should be for Class C properties in the Twin Cities metro area in Minnesota.
Class C properties are typically older buildings and include fewer if any, on-site amenities.
Fast Facts for Class C Apartments in the Twin Cities
- Did You Know? Class C properties convert 50% faster than Class A properties. This has a significant impact on curating an optimal digital marketing strategy.
- Budget Distribution. Our budget recommendation is Upper Funnel: 15%; Mid Funnel: 35%; Lower Funnel: 50%
Lead-to-Lease Journey: Class C properties have a faster lead-to-lease journey, therefore it is important to focus on lower-funnel strategies and to pay strong attention to your overall online presence. Key platforms for this include organic media and reputation management services.
- Class C: At stark contrast to the Class A properties, Class C properties have the shortest Lead-to-Lease journey at 2-6 weeks!
Paid Search for Class C Apartments
Class C net absorption of nearly 13,000 units in the first quarter of this year (2024) followed a net loss of around 1,500 leased units in the opening period of 2023.
- Invest heavily in conversion-focused platforms and look to St. Paul to get the best bang for your marketing buck.
- 3-bedroom campaigns will outperform other unit types in Paid Search.
Our second highest CPL in unit types is Class C Studios. We also see a higher CPC for this unit type but an overall lower performance.
We see better overall performance for our class C properties within true city limits. This could be due to the proximity to their jobs, points of interest, or access to public transportation which is minimal in the suburbs.
Monitoring Your Online Presence with Class C Apartments
Organic Social is the highest return on investment (ROI) in the multifamily industry. Your staff and in-house teams can contribute quickly and with less effort to these channels and focus on on-site community building and residents. That social media is no longer an afterthought, but a crucial component of your marketing mix and meets future residents in the consideration stage but also engages current residents while monitoring comments as well as paid ads.
Reputation Management we believe that reviews are one of the most powerful marketing tools that your property has at its disposal. Not only do they build trust and increase visibility, they’re vital for maintaining your brand reputation. It’s no doubt a positive reputation online helps apartment seekers trust the property, converts searchers into leads, and boosts local search rankings — and by responding swiftly and promptly, your property takes resident feedback seriously.
SEO Strategy is crucial for C class apartments, especially when the competition is fierce. That SEO is a marathon, not a sprint and over time increases the quantity and quality of traffic that goes to your website. It also creates credible exposure for your brand when done right. SEO is a cost-effective way to improve your site’s user experience, visibility, and ranking.
Minnesota Multifamily Marketing Strategy for Class C Apartments
Having an aggressive marketing mix for your Class C apartments in the Twin Cities is crucial for hitting occupancy goals and understanding the nuances between other class properties.
Questions? We’re here to support you with your Minnesota marketing strategy. Connect with one of our experts!
