John Kobs and Chris Erickson both had terrible experiences trying to rent an apartment.
Together in 2011, they founded Apartment List with the aim of making the rental process more efficient, transparent, and enjoyable. Today, Apartment List is the fastest growing apartment site in the U.S. with its website and mobile apps reaching millions of renters every month, and matching them with a home that fits their needs.
Companies in the online apartment rental space find it difficult to distinguish between renters browsing for an apartment and those actively in-market to sign a lease.
While the industry traditionally markets to every renter the same way, regardless of intent, Apartment List sought to identify only those in-market renters to focus marketing efforts.
Every marketer’s dream is to understand the intent of a customer. Using tens of billions of data points, Apartment List partnered with ByteGain to train a deep learning model to predict the preferences, behavior, and intent of every renter who visited Apartment List's website and apps.
First, the model predicted whether a user was likely to sign a lease in the next few months. And if so, whether they would organically sign with Apartment List or go elsewhere.
Using this model, ByteGain helped Apartment List buy retargeting ads on Facebook and Google Adwords to re-engage the most valuable segments of users.
Using insights from the deep learning model, Apartment List dramatically improved marketing efficiency.
ByteGain technology accurately provided predictions about: