Effective marketing teams assess the needs of their organization and then choose the best available resources to craft a custom plan. Lately, multifamily marketers have been incorporating Return on Ad Spend (ROAS). ROAS is the amount of revenue generated by a specific ad or ad campaign vs. the amount of money spent on that ad or campaign.
Senior property management executives and property owners are laser focused on ensuring resident retention and the best possible customer experience at their apartment communities. But, according to Esther Bonardi, vice president, Yardi | REACH by RentCafe, “Their love language is talking about return on revenue. ROAS shows how much revenue you receive for every dollar spent, so now we’re moving beyond just simply showing the cost of the lease.”
ROAS is an important consideration when creating multifamily marketing plans. It enables the marketing team to communicate effectively with those at the top of the organization, Bonardi explained.
Calculating ROAS vs ROI
Apartment marketers continually balance evergreen digital methods with new techniques to improve strategy and measurement. ROAS can enhance communication because it can be expressed as a ratio, percentage or comparative dollar amount. CommerceGarage, an online advertising and marketing agency that develops campaigns across channels such as Facebook, Instagram, Google, Amazon, TikTok, Linkedin and Snapchat, uses the following equation to calculate ROAS: Revenue Generated by Ad /...
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