Q1 Growth Surge with Strategic Ad Shift in Q4.

The Overview.

While seasonal slowdowns in Q4 are common across the multifamily industry, the Paid Media team at Repli saw Q1 as an opportunity to break the pattern and push performance forward.

With no specific directive from Capstone leadership, the Repli team internally identified accounts with growth potential and made bold, thoughtful optimizations to revamp campaign health.

The result? A measurable surge in paid ad performance across key student and lifestyle-focused properties, fueled by geo-targeting experimentation, audience-aligned keyword shifts, and a smarter bidding strategy.



One of the most impactful shifts this quarter came from a strategy we don’t always lead with: Hyper-specific geo-targeting around nearby university campuses. 



While common tactics like keyword tuning and bid adjustments tend to drive consistent results, we wanted to explore how physical proximity to colleges could better serve student-focused properties in the Capstone portfolio.

01: The Flats on University.

The Flats on University was one of the first communities we tested this approach with. Located near George Mason University, this property had the potential to capture more traffic from students looking for housing near campus.

By developing a precise location target directly surrounding the university, we saw an immediate shift in campaign performance. 

The Local campaign conversion rate increased from 3.65% in Q4 to 5.28% in Q1. 

The “student housing fairfax va” ad group saw a 37% boost in search impression share, meaning we were capturing significantly more visibility in an already competitive keyword space. 

These kinds of wins help build trust and reinforce the value of having a marketing partner who isn’t just reacting, but leading. And this was not our only win. 

02: The Cottages at Cypress Cay.

The Cottages at Cypress Cay, situated near the University of South Florida, followed suit. We shifted additional budget into USF-related terms and phrases and increased spend on those keywords by 36%. 

As a result, the “apartments near USF” ad group experienced a 125% increase in total conversions and an 88% increase in conversion rate. 

This was a powerful sign that targeting students with localized, intent-based search terms was paying off. 

03: The Cottages at Riverlights.

The further reinforce this approach, The Cottages at Riverlights, located minutes from UNC Wilmington, benefited from a similar location radius strategy. 

Across the geo-targeted campaigns in this region, we drove 8 incremental conversions, all while maintaining a cost-per-conversion below $100 in every active campaign where this method was used. 

It was a cost-effective, data-driven move that directly aligned with leasing goals in the area. 

🔍 Reframing the Way Renters Search: Smarter Keywords & Better Bidding.

While geo-targeting brought in new layers of intent, the team also implemented several important updates to keyword strategy and bidding structure. 

Across several communities, we refined our use of generic terms. For cottage-style properties, we pivoted away from catch-all terms like “apartments” in favor of more accurate descriptors like “home” or “cottages,” which aligned better with the physical layout and marketing of the property. 

These changes helped narrow our audience to renters who were more likely to convert, and improved lead quality across the board. 

In branded campaigns, we took a more aggressive approach by switching to a maximize conversions bid strategy. This tactic was especially useful for properties with city-specific names, such as “Cottages at Riverlights,” where searchers might be looking for general rentals in that area, not necessarily the brand itself.

By letting Google’s algorithm optimize for conversions rather than relying on manual CPC bids, we were able to win more auctions with higher conversion potential. 

These changes added up quickly, especially in properties where Q4 performance had been stagnant. By aligning our ad language and structure with what users were actually searching for, and allowing smart bidding to do more heavy lifting, we turned awareness into action. 

💡Proactive Strategy = Positive Momentum.

Perhaps the most exciting part of this growth story is that it wasn’t the result of a client request; it was initiated by our Repli Paid Media team. 

The Capstone portfolio didn’t come into Q1 with specific KPIs or campaign goals, instead, we used our knowledge of seasonal performance trends and portfolio insights to identify opportunities that hadn’t yet been explored. 

Rather than waiting for direction, our team went hands-on: testing geo-targeting in new ways, rethinking how keywords match audience intent, and allowing automation to work smarter, not harder. 

Jordan Haddock

Paid Media Specailist at Repli

💭 What’s Next.

Building on this Q1 momentum, the Repli Paid Media team will continue to track and optimize performance across the Capstone portfolio, expanding successful geo-targeting tactics, refining ad group structure, and exploring new ways to convert high-intent renters more efficiently. 

With strong signals of performance recovery and clear strategic impact, we’re excited to see where the next quarter takes us.

Stephen Colvin

Director of Digital Marketing & Communications, MSC