Why Your Competitor Campaigns Suck (And What To Do About It)

If you’re doubling down to beat out your competition and attract more residents, competitor campaigns are often the go-to strategy. But it’s not always the best course of action, especially if you don’t have a big budget to work with.

Competitor campaigns are similar to brand campaigns, but instead of targeting a major brand, they're the names of nearby communities.

The problem?

It’s easy to misuse competitor campaigns and waste valuable marketing resources before you ever see an impact.

If you're already using a competitor campaign and it's not converting the results you want, it could point to issues with your overall strategy.

Here’s a look at how they’re misused, where to tread lightly, and what to consider instead.

You’re Not Focused on Search Intent

Ignoring search intent is a common mistake in competitor campaigns. When someone searches for just your competitors' names, they could be a current resident, prospect, or even a vendor.

Showing up in a search for just their name isn't always a good idea, especially on a tight budget.

Your search terms report can help combat the issue, but still requires a deeper understanding of how search intent works.

Fortunately, search intent usually falls into just a few categories:

You’ll produce more powerful results when you align competitor keywords alongside search intent.

It also helps you zero in on the user journey. For example, if the search word is "apartments in Denver, Colorado near nightlife," you'll know the user is at a stage where they want more info.

But if the keyword phrase is "Rent an apartment in Denver, Colorado today," you'll get clarity on their transactional search intent. It may also prove worthwhile to bid more on keywords that fall into the search intent you're looking for.

You can also focus less on competitor campaigns and use search intent to help shape your overall marketing strategy instead.

For example, figuring out what people want and where they are in the user journey also makes a powerful impact on your SEO and content marketing. It’s also cheaper and often more effective than a competitor campaign.

For more insights on the resident journey, read our article on the apartment marketing funnel.

Tip💡: Pair search intent alongside your negative keyword strategy, SEO, and content marketing for more powerful, targeted results.

Truth 💣: It takes some time to experiment with search intent in any marketing campaign. But it's worth the effort. Ignore it, and you're ultimately dismissing the goal of the user, which could be your next resident.

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You're Not Using Enough Negative Keywords

You need to make sure your ad dollars are only going towards highly targeted, relevant keywords.

One of the biggest reasons multifamily marketers lose money on competitor campaigns is the lack of negative keywords.

These keywords keep your ad from triggering when someone searches for specific keywords.

When setting-up competitor campaigns, you're probably using keywords targeting your competition. You want to show up when someone searches for their apartment complex. But you also need a good negative keyword strategy to make sure you’re not wasting your budget on their residents trying to pay rent.

There's a big difference between someone searching for "Monte Azul Apartments Photos" and "Monte Azul Apartments WiFi Password."

You don't want to bid on the latter! Otherwise, you could end up with residents burning your budget after an online search for a community WiFi password.

Tip💡: There is a difference between low-converting keywords and irrelevant ones. Blocking lower-traffic keywords could mean missing out on valuable competitor traffic.

Truth 💣: Negative keywords can ultimately save you time and money. But they also help zero in on your ideal resident who is ready to sign a lease. As you focus on negative keywords, remember to consider the search intent.

You're Not Tailoring Content to Each Competitor

Disclaimer: this tactic isn't easy, it takes resources. If you have the budget and time, it can improve your conversion rates a ton.

Tailoring content to each competitor in your market strengthens your campaigns, but is tricky to get it right. The goal isn’t to trash them (we highly advise AGAINST this 🙅🏻). Instead, you want prospective residents to easily understand the differences between you and your competitor.

The idea is to make it easy for prospective residents to see what you offer compared to your competitor.

They should have readily available information and can make a faster and more informed decisions.

The downside to this method is it gets pricey quickly. In an ideal marketing world, creating competitor-specific landing pages is part of your competitor's campaign strategy.

But in a pinch, you could also consider a blog post instead. Create a series and fold it into your content marketing strategy.

Tip💡: If you’re going to run a competitor campaign, you need a large budget to create the right content to run alongside it. Otherwise, you’re probably spending more on conversions than necessary and diluting your marketing budget.

Truth 💣: It's not always a bad thing if you don't beat out your competition in some areas. Not everyone needs an on-site gym or pool and may actually be deterred by the potential noise from constant activity.

You're Targeting the Wrong Competition

Multifamily properties are quick to try and compete for residents but aren’t always stepping back to evaluate who their competitors are.

Sure, you may lose business to the most prominent multifamily complex in town, but are they really your competition?

Let's say your residents love your community because it's small, tucked away from the bustle of Mainstreet, offers better parking, and is quiet. It's unlikely you will snag scores of residents looking for the ultra-modern, luxury, amenity-packed highrise apartment complex in the center of the action.

Before you invest money into a marketing campaign, do more competitor and target market research. Your business saves time, money, and resources with a highly targeted approach.

Tip💡: Use online reviews as part of your competitor and target market research. You'll get more clarity on what residents like and don't like about living in their community. Use the information and insights to help shape your own competitor campaign.

Truth 💣: Your competition isn't just about who's doing the most business in your market. It's more about who is attracting your ideal resident and how you can stand out as the better option.

You're Too Focused On What Your Competition Does Well

There's a lot of multifamily competition out there. According to Statistica:

It’s not practical or effective to compete against so many communities, and obsessing over your competition isn't productive. Neither is jumping from one competitor to another in your campaigns. Instead, you should focus on making your online presence and marketing assets the best they can possibly be.

Part of focusing on your competition is about zeroing in on their weaknesses and turning them into one of your strengths. Take a look at what your competition does exceptionally well. Now study what they're not doing all that great, from copy to ads.

Tip💡: Don't chase after those rock-solid strengths your competition has already mastered. Instead, put your time, effort, and resources into those weaknesses to set yourself apart from the competitor you're chasing.

Truth 💣: At the end of the day, competition is an opportunity to make your marketing strategy better than ever before. You refine your goals and attract a more targeted audience, saving you time and money.

Next Steps

Competitor campaigns can be a win for multifamily marketing, but they need to be executed correctly in order to work and keep your budget in check.

Make sure you’ve done the work to understand who your competition and target market is. When you refine your strategy and focus on these areas, your efforts convert faster and build a stronger foundation for success.

What was your biggest takeaway from this article? Let us know in the comments!

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