2020 presented obstacles for every industry as the world economy came grinding to a slow trickle. In March, much of the United States experienced widespread shutdowns designed to slow the spread of COVID-19, forcing businesses to shutter and “non-essential” workers to stay at home. In the realm of multifamily marketing, this caused an interesting opportunity to study the effects of ubiquitous shutdowns on social advertising campaigns. I looked at the data from April 1st to June 30th of 2020 and compared the numbers to the same timeframe of the previous year. Here is what I found.
There were 41 accounts in the agency portfolio that were running active campaigns during both time periods. In order to remove any variable data, I focused on the campaigns’ Traffic objective, removing any metrics from Reach, Lead Forms, etc. The amount spent in each time period differed by exactly $500, which represents only 1% of the total spend – not enough to have a real impact on the numbers.
From an exposure perspective, COVID-19 was a huge boon for multifamily ad accounts. Costs were driven down by the sheer number of people stuck at home with nothing to do but go online, so there was a much bigger potential audience available. Clients were able to get far more traffic for their money compared to the previous year.