Virginia Love shares a flurry of Covid-period tips such as YouTube ads’ value, why it’s important not to have furniture in your self-guided tour homes, and explains why some prospects never finish filling out their online applications.

After two or three months of shelter-in-place, the apartment industry is seeing that people can’t just sit around and wait (to shop for an apartment).

While they originally put their plans on hold, now they are ready to move and have limited time to find a new home. The evidence is in the traffic and the cost-per-click rates.

We spoke to Entrata’s Virginia Love – who brings more than 20 years’ onsite leasing experience -- about trends she is seeing this month, based on a Speedy Session webinar she conducted through the Apartment Association of Central Oklahoma.

Cost-Per-Click on the Rise

Pre-Covid, the “Apartments for Rent’ cost-per-click (CPC) was approximately $2.70 on Google Ads. That price fell, but now we’re seeing it recover to around $2.60 (Week of May 25).

The same “Apartments for Rent” search CPC on Microsoft Ads (Bing) is $1.49. Communities choosing to advertise on Bing can reach more audience for less money.

On social media, Facebook Ads has found a very cost-effective way to promote their brand at around 30 cents CPC.

Advertisers should make sure to control the frequency of price caps so they don’t flood their audience with ads that will just be turned off, and retarget those who have visited their websites but not converted or returned.

YouTube Ads’ Value Play

Consider investing in YouTube advertising. With newly created content such as virtual tours and property videos, video is a medium that offers significantly more visibility at a lower price and is an underutilized medium in the multifamily industry.

Marketers who have returned to the regular flow of handling prospects should rely on data and return to what was in motion and working for them prior to Covid-19 in terms marketing channels for new prospects, past website visitors and other leads.

Speak Softly. During Covid-19, we are finding that using a softer call to action on your website buttons is effective. Instead of the stronger sounding “Lease Today,” try something like “Take a Tour” or “Visit with Us.”

And when speaking to prospects, there can be an enthusiastic tone, but you have to meet them on their level. You don’t know what they’ve been through job-wise or health-wise. Start by asking them, “Is now a good time?”

Transparency. Make sure the listing data for your community is consistent. People today have even more time to do online research. If they see inconsistency is rent or availability, they will move on.

Virtual Hand-Holding. Oddly, we’ve noticed that people who are filling out applications are stopping during the process and not always returning to finish the application online. They are distracted at home. Maybe they get a phone call or start to watch TV. So as leasing professionals, you need to hold their hand throughout the process until the application is done. If you have them on the phone, don’t offer to call them back later, walk them through the entire process.

Virtual tours. Who isn’t talking about this right now? The customer journey has been disrupted. For example, virtual tours are now a way of life. At first, communities might have been unsure on how to do them and were hesitant. But most in our industry figured them out – usually in about one day. There are lots of methods and technologies available and it’s best to work on finding the best and most affordable method for that community.

Many communities are using ‘Virtual Tours Available, Text (phone number)’ on signage. Good idea.

Ready, Set, Action. Plan the shots ahead of time. You have the time to think these things through, so use it. When you shoot a pre-recorded tour, deliver as much detail as you can. Don’t just show the kitchen or point at things -- open the drawers. Demonstrate the water pressure. Reveal the spacious closets and cabinets. Highlight the beautiful details of the finishes on your floors, hardware and countertops. And, certainly point out unique feature benefits specific to the floor plans.

All Thumbs. Google loves video. (Because they own You Tube, this is not a surprise). Post your videos on your YouTube channel and link them to your website, your prospect follow-ups and eblasts, etc.

When you post the video, be careful about your thumb-print image (it’s the first image of the video that appears before the person clicks ‘play’). Make sure you start the recording with a positive scene such as a smiling leasing professional or in an attractive part of the community.

Self-Guided Tours. Self-guided tours were another method on the rise pre-Covid. This trend is continuing, there’s just a new twist. You want these experiences to be as contact-free as possible. Avoid giving these tours in your model homes – use your vacant units. This way, having no furniture is one less thing for them to touch.

The most important step in prospect recruitment continues to be information gathering from the prospect. Listen to what they are interested in, repeat it aloud (to demonstrate that you are listening to their needs) and then design the tour based on their needs, wants and desires. You don't have to start in the living room and move to the kitchen, dining room, bedroom, etc. If they say they own a lot of clothes and that closet space is important, start by telling them the number of closets in the apartment and begin the tour by showing each of them one by one!

Custom Page. Most apartment communities have created a custom web page to post information related to Covid-19. That’s good. Don’t simply bury the Covid info on existing pages where you think it might fit. When Covid-19 is over, don’t give up on that custom page you created. Find another topic to use for it. Google loves custom pages, especially if they focus on one topic and are updated frequently. This will help with your search results.

Apartment Pride. Never say, “I’m just a leasing consultant.” What you are, is a revenue driver for a multimillion-dollar asset.

Having sales experience during a crisis such as this – and this one is unprecedented – is incredibly valuable.