Apartments.com Launches New Marketing Campaign Focused on Changing Consumer Rental Behavior Post-Pandemic

Rhea-AI Summary

Apartments.com, a brand of CoStar Group (NASDAQ: CSGP), has launched a new marketing campaign featuring Jeff Goldblum as its spokesperson. This campaign aims to address evolving renter needs post-COVID-19, based on a survey of over 25,000 prospective renters. Key findings reveal that more than 50% of renters plan to move in the next year, influenced by desires for more space and upgraded living conditions. The campaign will leverage streaming and digital platforms to connect with renters through custom content and innovative advertising.

Positive

• More than 50% of surveyed renters plan to move within the next 12 months.
• The campaign targets modern renter behavior, leveraging streaming and digital platforms effectively.
• Increased marketing investment in emerging media aligns with audience shifts.

Negative

• Dependence on changing renter behavior poses risks to campaign effectiveness.
• Potential for the marketing initiatives to not deliver expected benefits.

Jeff Goldblum-Starring Campaign Explores Evolved Consumer Needs and Wants

WASHINGTON--(BUSINESS WIRE)-- Apartments.com, a CoStar Group brand (NASDAQ: CSGP) recently released the first in a series of new TV spots as part the company’s 2022 marketing campaign. The new campaign – developed in partnership with Rubin Postaer and Associates– gets to the heart of what matters most to renters, as many prepare to make their first move in the wake of the COVID-19 pandemic.

Jeff Goldblum returns for an eighth year as Apartminternet Founder Brad Bellflower, a quixotic futurist who will go to seemingly any length to make Apartments.com “the place to find a place.” The clever creative leans into cultural headline news themes, as evidenced by the spot entitled “Billionaires in Space.” It also touches upon personally relevant topics, such as parenthood with “Test” or “Cathouse,” for pet parents.

In an effort to ensure the creative resonates with renters and their shifting behaviors, Apartments.com surveyed over 25,000 prospective renters to better understand how the pandemic has impacted renter behaviors and influenced their priorities.

“The past two years have changed how many people work, live, socialize, and even parent,” said Patrick Dodson, Vice President of Marketing, Apartments.com. “With our 2022 marketing campaign, we’ve evolved our brand to reflect the changing behavior of renters across the country.”

Given the changes in their lifestyles and work environments, renters are reevaluating what they want and searching for ways to upgrade. Key takeaways from the survey include:

• Prospective renters delayed moving plans during the height of the pandemic
• Renters are feeling more confident about making a move and have a more positive outlook on their financial future
• More than 50% of renters surveyed are planning to make a move in the next 12 months
• Renters are making decisions faster than they did pre-pandemic
• The need for more space, upgraded living and a change in lifestyle are currently the leading factors to search for a new place to live

“As a brand, not only have we adjusted to the current renter landscape, we know, now more than ever, that renters are consuming media primarily through streaming video and audio platforms.” Dodson continued, “This further affirms our continued marketing investment in streaming and emerging media platforms.”

Over the coming weeks, Apartments.com’s new campaign – which includes TV spots and digital and social videos – will become increasingly omnipresent nationally. Given the rising popularity of streaming services, the brand will amplify its advertising presence among top platforms, such as HBOMax, Paramount+, Hulu, Peacock, YouTube, iHeart Radio, Spotify, Pandora, and many others.

With the new campaign, Apartments.com seeks to connect with renters like never before through custom content and unique creative developed specifically for renters’ favorite social and digital video platforms, including TikTok, Instagram, Snapchat, YouTube, and Facebook. The brand will also launch several new social series developed in partnership with top-tier influencers across all renting categories, including DIY projects, pet life, apartment tours, apartment living tips and tricks, and more.

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. In France, BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate and Business Immo is widely recognized as a leading digital commercial real estate news provider in the country. Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada and Asia. From time to time, we plan to utilize our corporate website, http://www.costargroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

About Apartments.com

Apartments.com is a leading online apartment listing website, offering renters access to information on more than 1,000,000 available units for rent. Powered by CoStar, the Apartments.com network of sites includes Apartments.com, ApartmentFinder.com, ApartmentHomeLiving.com, Apartamentos.com, WestsideRentals.com, ForRent.com, ForRentUniversity.com, After55.com and CorporateHousing.com. Apartments.com is supported by the industry’s largest professional research team, which visits and photographs properties nationwide. The team calls each month to apartment owners and property managers, collecting and verifying current availabilities, rental rates, pet policies, fees, leasing incentives, concessions, and more.

Apartments.com offers more rental listings than any other listing website in the U.S., with innovative features including a drawing tool that allows users to define their own search areas on a map, and a “travel time” feature that lets users search for rentals in proximity to a specific address. Apartments.com creates easy access to its listings through a responsive website and iOS and Android apps and provides exposure for its advertisers through an intuitive name, strategic search engine placements and innovative emerging media.

The Apartments.com network reaches millions of renters nationwide, driving both qualified traffic and highly engaged renters to leasing offices. For more information visit Apartments.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar Group's and Apartments.com’s expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that renters’ behavior changes; the risk that Apartments.com’s business and marketing plans change; and the risk that Apartments.com’s marketing initiatives do not produce the expected benefits or results for CoStar Group and Apartments.com or their customers. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2021, which is filed with the SEC, including in the “Risk Factors” sections of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (http://www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005701/en/

Media:

Matthew Blocher

Vice President

CoStar Group Corporate Marketing & Communications

(202) 346-6775

mblocher@costargroup.com

Source: Apartments.com

FAQ

What is the new marketing campaign by CoStar Group (CSGP) about?

The new marketing campaign by CoStar Group's Apartments.com focuses on evolving renter needs post-COVID-19, featuring Jeff Goldblum and targeting prospective renters.

How many renters were surveyed for the Apartments.com campaign?

Over 25,000 prospective renters were surveyed to understand their needs and behaviors.

What percentage of renters plan to move in the next year according to the Apartments.com survey?

More than 50% of renters surveyed indicated they plan to move within the next 12 months.

Which media platforms will Apartments.com use for their new campaign?

Apartments.com will advertise on top platforms such as HBOMax, Hulu, YouTube, and Spotify to reach renters.

What factors are influencing renters according to the Apartments.com press release?

Renters are influenced by a desire for more space, upgraded living, and a change in lifestyle.