Aero on 24th Case Study

Our digital marketing and retroactive geofencing strategy helped Aero on 24th win the fiercely competitive Gainesville student-housing market - finishing the season with the highest pre-lease among 58 competing properties.

About Aero on 24th

Aero on 24th (Aero) is a 550-bed, 176-unit student housing community located in Gainesville, FL, just a mile and a half from the University of Florida. During the 2019-2020 term, while battling the adversity surrounding COVID-19, Asset Living and Aero challenged us to manage the marketing operations and ad spend in the competitive Gainesville market to help pre-lease the property for the upcoming school year.

With fewer students returning to campus, our team and Aero teamed up to create a dynamic marketing strategy to dominate the Gainesville market ahead of the 2019-2020 term.

Industry: Student Housing
Location: Gainesville, FL
Involvement: Paid Search Advertising; Geofence / Display; Social Media Advertising; SEO
Client: Kayne Anderson (ownership); Asset Living (management)

Photos and renderings owned by Kayne Anderson.

The Challenge

Filling Beds in a Crowded, Disrupted Market

Aero on 24th sits over a mile and a half from the University of Florida in one of the most competitive student-housing markets in the country – 58 properties were chasing the same renters, and five of them were brand-new developments. With COVID-19 in full swing and fewer students physically on campus, the usual playbook for filling beds no longer worked. Aero needed a strategy that could reach students who were no longer where student marketing normally finds them and still pre-lease the property ahead of the 2019-2020 term.

The Aero on 24th student housing community in Gainesville, FL near the University of Florida
The Aero on 24th apartment community exterior in Gainesville, FL
The Strategy

Retroactive Geofencing and a Five-Tactic Digital Push

With the pandemic in full swing, we focused the majority of Aero’s marketing on digital tactics and thought outside the box, attacking the Gainesville student market with five digital marketing tactics.

Because many students were no longer on campus, regular geofence advertising would not cut it. Our geofencing technology could target students who had visited certain locations in the past, so we set the parameters to students who entered geofences back in March 2020 – the last month students were on campus before COVID-19 sent them home. Anyone who had entered a classroom, student center, rec center, or competitor property that March became eligible to see an Aero ad. That retroactive geofencing, combined with the other tactics and early launch dates, gave Aero a significant advantage.

We took it one step further. Using the University of Florida student contact list, the team harvested home addresses and set hyper-geofences around students’ homes. By the end, more than 40,000 geofences were deployed, keeping Aero in front of students even while they were home with their parents.

By the Numbers

The Highest Pre-Lease in Gainesville

The Aero on 24th apartment community courtyard with the resort-style pool and the white multifamily building behind it

The Results

Aero on 24th successfully pre-leased the property to over 95%. In a market with 58 competing properties – five of them brand-new developments – Aero finished the leasing season with the highest pre-lease in Gainesville and saw little to no turnover.

The momentum carried into operations, where the property tracked 15% ahead year over year at higher rates.

Cost / Conversion
$16
Average paid cost per conversion
Occupancy
95%
Highest pre-lease in the market
Ad Impressions
6.5M
Served across the campaign

Ready to Lease Up Faster?

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