Renewal 2016 Case Study
Each year, Campus Advantage implements five major annual campaigns to boost leasing and brand awareness across their student real estate portfolio. Based on the successful move-in campaign implemented two months prior — a strategy designed by Catalyst — the 2016 renewal season kicked off with a refreshed portfolio-wide move-in themed campaign that carried the same look and feel.
To appeal to all markets across the nation-wide portfolio, Catalyst used a vibrant blue and purple color palette coupled with exciting messaging that tied back to the Move-In Fest music festival vibe. Some promotions seen throughout the campaign included “Early-Bird Specials” and “Live It Up.” Catalyst created a campaign for each of the 24 participating properties, which consisted of physical and digital deliverables including banners and bandit signs at each property, emails, property-specific landing pages, social media graphics, thank you cards, letterhead, door hangers, and more.
The Move-In Fest was well received by residents and acted as a strong reminder of the brand that a resident was committing to upon renewing their lease. The campaign targeted college students between 18 and 24 years old at 24 properties nationwide and encouraged them to renew their lease as early as possible to take advantage of the best rates available. Catalyst sent 36,943 emails to 12,902 unique recipients with an average open rate of 59.11% and an average click-through rate of 10.40%. These results exceeded the previous year’s results and were well above the real estate industry averages of 23.4% and 2.5% respectively. Additionally, the campaign led to 398 total leads across the portfolio, resulting in an average cost per lead of $30.15. Overall, the campaign resulted in 398 leads, and emails performed with an average click-through rate of 10.40%, well above the 2.5% industry average.