Cost Per Acquisition for Holland Partner Group Reduced by 43%
The Challenge: Lease Up Apartments at a Lower Cost
Holland Partner Group, a national apartment management firm, hired Two Octobers to manage their digital campaigns because of two main problems: 1) Too many unoccupied units and 2) the cost to acquire new tenants was not efficient nor effective. A large portion of Holland’s marketing budget was being wasted.
Specifically, Two Octobers was retained to: drive efficiency, set up meaningful reporting, rapidly increase multi-location visibility and to expand the strategy beyond low-funnel tactics.
Two Octobers to the rescue — laser focused on driving down cost and increasing number of tenant applications.
Our strategy was to target and retarget prospects along the customer journey, using engagement as a feedback metric to continuously improve targeting and results. Tactics included:
- Testing high-funnel tactics like social and display
- Cross-property remarketing
- Using remarketing lists for search to stay in front of prospects throughout the research process
- Continuous audience testing and expansion based on engagement
We were able to scale this approach across dozens of markets by creating a well-defined, repeatable process, augmented by automation wherever possible. Ultimately, over the course of a single year, Two Octobers was able to:
- Drive down CPAs by 43%
- Increase consistency in site traffic
- Increase lead volume without increasing budget
- Improve search presence due to more comprehensive keyword coverage
- Improve visibility throughout the sales funnel
Bottom line: Two Octobers drove a large performance change in Holland’s business, made their marketing dollars work harder, and increased Holland’s presence and occupancy in competitive markets.