Using AI reduces the cost of production and makes it more efficient.
Apartment marketers are finding that using artificial intelligence (AI) production techniques to produce short streaming TV advertising videos reduces costs and increases efficiency.
What used to cost thousands of dollars and take days, if not weeks, to produce can now be created in minutes by using still images or video for clips.
This approach includes video delivery, known as programmatic advertising, which uses advertising technology to buy and sell digital ads. Programmatic advertising delivers relevant ad impressions to viewers within a second through automated steps.
Kate Good, partner and senior vice president of apartment development at Hannington Residential in Houston, said one of her video campaigns inspired someone to search for a featured community online, which led Hannington to add a link to that person's feed. He said he can now send videos of other apartment communities focused on different points. side.
She and Annie Wildasin, Bozzuto's senior director of marketing, spoke about video production, including OpenAI, Sora, and Apartmentgeofencing.com, during a May 10 session at the Apartment Innovation and Marketing Conference in Huntington Beach, Calif. We talked about the platform.
“Video is becoming increasingly important and valuable given that, according to Erica Byrum of Apartments.com, 42% of rental searches are from people living outside of the city,” Good said. Masu.
“Today, videos are much more memorable to consumers than flat images. Research shows that on average, 54% of videos are retained. You can also share videos in posts or via email. Masu.
Good said he spent $3,800 on streaming TV ads, ran 41,000 commercials, had a 98% completion rate and received 25 walk-ins.
Comparatively, it costs about $695 to create one video using only images. A single 30-second video, including footage shot at the scene, costs him more than $2,000. The waiting time for a video to be completed can take him as long as 14 days.
“It takes quite a while, but with AI video, the process becomes much more efficient,” Wildasin says. “It only takes a few minutes.”
On average, these streaming ads have mute and pause rates well below 1%.
Wildasin said some of Bozzuto's videos are expected to have up to a 50% submission rate.
She said 19 deals resulting from the company's virtual tours generated $1.2 million in profits, and the company's $10,645 investment in video over 25 months resulted in a 108x ROI.
Bozzuto also creates micro-videos (short video clips) to help residents learn more about the community, including a “Meet the Team,” an overview of amenities, maintenance tips for renters, and directions to the community (location, etc.) doing. Park on part of the city lot.
overcome video fatigue
By producing many different versions, apartment companies can overcome video fatigue that leads to viewer apathy.
After 7 days of watching the same video, you will see a significant decrease. Recovery is gradual. As of the 24th, there was another significant decline, and recovery has been delayed. No noticeable improvement was seen after 29 days.
“With a little effort and a small budget, you can avoid creative fatigue,” Good says.
“Some people don't want to show the front sign of their apartment community on video, but we've found that doing so is very effective. It kind of justifies the existence of the property.” Mr. Good said.
