When managing PPC campaigns across multiple real estate properties in competitive Texas markets, efficiency isn't optional—it's essential. Over the course of 2023-2024, we transformed underperforming campaigns into high-converting lead generation machines, reducing the average cost per qualified lead by 48% while simultaneously improving lead quality and volume.

This case study breaks down the strategy, implementation, and results that turned around digital advertising performance for 14 properties across DFW and Greater Houston.

The Challenge

Our client managed multiple real estate properties across two of Texas's most competitive rental markets. The existing PPC campaigns suffered from several critical issues: high cost per lead with inconsistent quality, limited conversion tracking that made optimization difficult, broad targeting that wasted budget on unqualified clicks, and underperforming properties struggling to reach occupancy goals.

The goal was clear: reduce acquisition costs while improving both lead volume and quality. But achieving this required a complete overhaul of campaign structure, targeting, and conversion infrastructure.

Campaign Structure and Bidding Strategy

We rebuilt the campaign architecture from the ground up, focusing on scalability and algorithmic optimization. Each property received its own segmented search campaign connected directly to Google Business Profiles. This structure allowed Google's algorithms to optimize for local relevance while we maintained granular control over budgets and performance by location.

Max Conversions with Target CPA became our primary bidding strategy. Rather than manually managing bids, we deployed automated bidding with specific target CPA goals for each property. The system optimized for multiple conversion actions: property tours, lease applications, form submissions, and phone calls. This approach allowed Google's machine learning to identify and prioritize the highest-intent traffic.

Keyword optimization played a critical role in performance improvements. We utilized a mix of phrase and exact match types, continuously mining search terms reports to identify top-performing keywords. Underperforming terms were systematically eliminated, allowing us to focus budget on search queries that consistently drove qualified leads. This iterative refinement process resulted in tighter targeting and improved conversion efficiency across all campaigns.

Targeting and Audience Strategy

Effective targeting meant reaching the right prospects at the right time. We implemented radius targeting with a 5-mile zone around each property location, capturing local prospects actively searching within their desired neighborhoods. This hyperlocal approach ensured ad spend focused on users with genuine geographic intent.

Demographic targeting layered in additional precision. We focused on specific age ranges and household income levels that aligned with each property's target renter profile. Google's built-in audiences for real estate and apartment searches provided additional targeting refinement, allowing us to prioritize users already demonstrating intent in the rental market.

GA4 retargeting audiences extended campaign reach beyond initial search interactions. We built custom audiences in Google Analytics 4 to identify engaged site visitors based on browsing behavior—users who viewed multiple floor plans, spent significant time on pricing pages, or visited amenity sections. These audiences fed into Display campaigns that served personalized ads based on property interest, keeping our listings top-of-mind for high-intent prospects.

Ad Copy and Asset Optimization

Campaign performance depends on continuous refinement. We regularly tested and updated ad headlines and descriptions to highlight the features that resonated most with Texas renters: competitive pricing, location advantages, premium amenities, and move-in specials.

High-quality property images were rotated into campaigns to showcase available listings and seasonal updates. Price extensions reflected real-time market offerings, ensuring prospects saw current deals. Location assets were optimized to improve local search visibility, and call assets featured direct property-specific phone numbers with call tracking enabled. This allowed us to measure phone conversions accurately while streamlining the inquiry process for prospects.

Landing Page Redesign and Conversion Tracking

Strong campaigns need strong landing pages. We migrated all 14 property websites to conversion-focused designs that worked in tandem with PPC traffic. Each site featured improved calls-to-action, clearer URL structures for individual unit listings, and streamlined navigation designed to reduce friction in the lead capture process.

Targeted specials and promotions were dynamically displayed based on user behavior. Visitors who viewed multiple listings or spent time on specific units saw personalized upsell opportunities that encouraged immediate action. Strategic contact form placement and simplified application processes maximized conversion rates at every touchpoint.

Conversion tracking infrastructure was completely rebuilt. We implemented custom Google tags to track applications, contact forms, phone calls, multiple floor plan views, and tour requests. This data fed directly back into Google Ads and Analytics, allowing Max Conversions bidding to optimize based on actual business outcomes rather than proxy metrics. Cross-domain tracking was implemented for the offsite leasing portal, ensuring we captured the complete conversion journey.

Reporting and Performance Analysis

Comprehensive reporting tied campaign performance directly to business results. We integrated Google Ads data with CRM systems to monitor lead quality from initial click through lease signing. This closed-loop reporting revealed that Google Ads was the dominant lead source, driving the majority of qualified applications and signed leases.

Regular performance analysis informed ongoing optimization decisions. We identified which campaigns, keywords, and ad variations delivered the highest-quality leads, then reallocated budget accordingly. Properties that struggled with occupancy received targeted investment, while top performers maintained consistent visibility.

The Results

The campaign transformation delivered measurable improvements across every key metric. Conversion rates increased from 4.74% to 15.87%, representing a 235% improvement in efficiency. Monthly lead volume increased by 150 leads while simultaneously improving lead quality through refined targeting and conversion tracking.

Monthly ad spend decreased by 30% even as total lead volume increased by 20%, demonstrating strong ROI from Max Conversions bidding paired with localized target CPAs. Overall budget savings totaled $4,000 per month, which was reinvested into top-performing campaigns and properties.

Most importantly, we leased up one underperforming property from 74% occupancy to 91% occupancy, with Google Ads accounting for the majority of qualified tenant leads during that period. The combination of strategic targeting, conversion-focused landing pages, and automated bidding turned around a struggling asset.

Key Takeaways

Several strategic decisions drove these results. Streamlining to Max Conversion search campaigns only—eliminating underperforming Display and Video campaigns—focused budget on high-intent search traffic. This consolidation improved both efficiency and performance tracking.

Granular campaign segmentation by property and location allowed algorithmic optimization while maintaining budget control. Each property could be managed independently based on occupancy needs and local market conditions.

Comprehensive conversion tracking was essential. Without accurate measurement of applications, tours, and phone calls, automated bidding cannot optimize effectively. The investment in proper tracking infrastructure paid immediate dividends in campaign performance.

Finally, continuous optimization made the difference. Regular keyword refinement, ad copy testing, audience adjustments, and landing page improvements compounded over time, turning incremental gains into substantial performance improvements.

Why This Approach Works for Real Estate

Real estate PPC demands a different approach than other verticals. High consideration purchases require multiple touchpoints, strong local intent, and trust-building content. The strategy outlined here addresses each of these requirements: hyperlocal targeting captures prospects in their desired neighborhoods, comprehensive conversion tracking identifies high-quality leads early in the funnel, and retargeting keeps properties visible throughout the decision process.

For property managers and real estate professionals looking to improve their digital advertising performance, the framework is clear. Invest in proper tracking infrastructure, segment campaigns by property and location, leverage automated bidding with clear conversion goals, and continuously refine based on performance data.

Moving Forward

Digital advertising in competitive real estate markets requires both strategic thinking and tactical execution. The results speak for themselves: lower costs, higher volume, better quality leads, and improved occupancy rates. For properties struggling to maintain occupancy or campaigns failing to deliver ROI, this comprehensive approach offers a proven path to better performance.

The fundamentals remain constant: understand your audience, target with precision, measure what matters, and optimize relentlessly. When these principles guide campaign management, the results follow.