Every multifamily management company that runs paid search campaigns as part of its apartment marketing strategy has likely come across the Google vs. Bing debate at one point or another. While there are certainly many distinct advantages to both Bing Ads (Bing’s ad network) and AdWords (Google’s ad network), ultimately only one network can be considered superior when it comes to securing leads in the multifamily industry.
Here’s a quick look at the advantages of each, followed by our final verdict:
The Advantages of Bing Ads
Bing Ads are primarily displayed through bing.com, a search engine that has cornered roughly 20 percent of the search market as of March 2015, according to a ComScore study. Bing Ads can also be found when conducting a search through Yahoo, thus expanding the ad network an additional 13 points and bringing its overall market share to roughly 33 percent. This is a considerably large chunk of the pie, and one that certainly warrants a second glance.
In addition to representing nearly one third of the overall market, the Bing ad network is usually cheaper than the Google ad network. A recent report from the search marketing intelligence agency AdGooroo, for example, found that the Cost-Per-Click (CPC) of ads displayed through Bing’s network was 35 percent cheaper than the CPC of ads displayed through Google’s network. The difference was attributed to the fact that more advertisers pay attention to Google, making its bidding landscape more competitive.
The Advantages of Google Ads
You don’t need us to tell you that Google Ads are displayed through Google, the clear winner of search when it comes to market share. Google represents about 63 percent of the overall market, giving it nearly twice as many users as Bing. So ads placed on Google’s ad network have a considerable advantage in terms of exposure.
While Google’s large user base results in a more competitive bidding environment, as we noted above, Google’s users are also much more likely to click on ads within search. In fact, Google’s Click-Through-Rate (CTR) is astronomically higher than Bing’s CTR; a 2014 study found a CTR of 5 percent for Google AdWords and a CTR of 1.19 percent for Bing Ads. In other words, not only does Google’s ad network come with higher exposure, it also comes with a higher likelihood that people will click on your ad.
Which Paid Ad Network Should You Use When Marketing Apartments?
Although both ad networks have their advantages, we must remember that demographics are a huge factor in all marketing efforts. And while users of both Google and Bing share the same traits in nearly every demographic category, there is one category in which users differ dramatically: Age.
The vast majority of people under the age of 35 use Google, whereas a large percentage of people over 55 use Bing. This has serious implications for the apartment industry, as rental properties are much more likely to be occupied by younger people. In a 2014 survey, The National Multifamily Council found that more than 51 percent of American renters were under the age of 30 and an additional 23 percent were between the ages of 30 and 44. Only 8 percent of renters were older than 65.
With these statistics in mind, it’s fairly obvious that AdWords should be the preferred ad network for every property management company running paid search campaigns for apartments.
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