Did you know that the size of the vacation rental market globally is $ 87.09 billion?
Yes, according to a report by Grandview research, that was the size of the vacation rental market. The market is poised to grow through the next seven years consistently. It means that not only is the present opportunity huge, but the size of the pie is consistently growing as well.
The question then is how to exploit this opportunity?
That is what; we would share with you today. Our post below would help you understand how to market your vacation rental property. One thing you have to keep in mind is that despite the industry size being huge, the competition is increasing as well.
That is why; the only way to profit from this opportunity is to market your vacation rentals. Unfortunately, most vacation rental owners and agencies have no idea about the same. That is what we will help you out with today.
How can I increase my vacation rental booking?
The best way to increase your vacation rental bookings is to use social media, search engines, and word-of-mouth publicity. We will go into the details of these steps and more below.
1. Social media:
Truth be told, the primary guests of vacation rentals for millennials. That is why you should not ignore them if you want to increase your vacation rental bookings.
Have you ever thought where do millennials spend most of their time online?
Yes, you guessed it right! It is on social media. That is why; you cannot afford to keep away from social media if you want to increase your vacation rental bookings. You have to start building accounts and presence on platforms like:
· Instagram (huge potential)
· And so on
The first step is to create a presence for your vacation rentals on these platforms. After that, you have to share content consistently on these platforms. While it might not increase your vacation rental bookings overnight, you can see a noticeable difference over 8 to 10 weeks.
2. Search engines:
Do you have a dedicated website for your vacation rental?
No, we are not speaking about the Airbnb page. You need to create your vacation rental website, which you can market. Your social media strategy, as well as search engine strategy, will revolve around this website.
There are two ways to use search engines to increase your rental bookings. These include:
· Organic search listings:
You have to try and rank your website for relevant keywords. For example, if your property is in Nice, France, you have to try and rank for keywords like vacation rentals in Nice, vacation rentals near Nice, and so on.
It is the most straightforward way to bring targeted traffic and increase bookings. There is, however, a secondary way as well.
· Local business listings:
Search engines like Google and Bing have local business listings as well whenever someone types in geographically targeted queries. In that case, both the organic search results and local listings are displayed. You have to list your business in their local business programs like Google Places and Bing Local to appear in those widgets.
The procedure is not that difficult. You have to verify your website through a portal also verify your property address. After doing so, within a few days, your vacation rental will be listed. With age and positive reviews, it will surpass other local listings to appear higher.
These two avenues can ensure that you can tap into the vast search engine traffic.
3. Word of mouth publicity:
Word of mouth is the most powerful way to increase your bookings. A satisfied customer is sure to recommend your vacation rental to others. Also, since the recipient of the recommendation in all likelihood would trust the person recommending the property, the conversion rate is pretty high on word of mouth publicity.
The question is, how to garner word of mouth publicity?
The answer is by going the extra mile.
Instead of just having all the necessities in your vacation rental, you have to go the extra mile to help your guests out. You have to proactively answer the questions which your guest might have after checking-in into the property. You have to do things like:
· Offer multiple entertainment sources to the guest in your property.
· You have to place a local guidebook on your property.
· You have to check with the guests just after the check-in and once a day during their stay.
· You have to be quick and efficient in solving the problems which they face (If any).
Once you go that extra mile, satisfying a guest will be easy. Only a satisfied guest would recommend your vacation rentals to others.
These three are the most important ways to increase your vacation rental bookings.
We understand that many of you might want to see a bump in bookings within the next few weeks. If you're one such vacation rental owner or an agency, it is time to promote your vacation rentals. We would discuss the same below.
How to promote vacation rental?
Promoting a vacation rental is easy using techniques like Influencer marketing, video marketing, and social media.
Confused about what exactly you should do?
Do not worry! You are not alone.
Many vacation rental owners and agencies think that promoting vacation rental is an uphill task.
That is not true!
We would highlight a few promotional methods below that are easy to execute.
1. Opt for influencer marketing:
In today's digital age, influencers hold a lot of say. Millennials online trust these influencers.
Instead of spending hundreds of dollars trying to promote your vacation rental, it is better to offer incentives or a free stay to an influencer. Once they share their positive experience with the community, you're sure to gain not only a lot of bookings but also build a brand.
2. Use video marketing:
Almost all vacation rental owners and agencies use pictures and images to promote their vacation rental. However, video marketing is unexplored by most of the vacation rental owners. That is what you have to take advantage of.
Video marketing on social media websites and on YouTube can easily help you promote your vacation rental and stand out from the crowd. With the right keywords and description, you can rank some longtail keywords as well, which means you would get long term traffic. It is one of the lucrative ways to promote your vacation.
3. Advertise on social media:
Did you know that you can start advertising on Facebook and Instagram for as low as $ 10?
With such low thresholds, it makes perfect sense to spend a bit to get those bookings. Your advertising campaign might take some tweaking, but the ROI is going to be awesome. That is why; you should not shy away from paid advertising on social media.
These three are the most effective ways to promote your vacation rental.
All of the above techniques will only work when you have something unique to offer. In the crowded space of vacation rentals, doing that is not that easy. However, we would share with you a few tips below to help you achieve exactly that.
How to make your vacation rentals stand out?
A vacation rental can stand out based on check-in and check-out process, smooth communication, working on guest feedback, and so on.
Don't sweat it out! We are not asking you to remodel your vacation rental.
We would just suggest a few tweaks which you can perform to help your vacation rental stand out. These include:
· You need to have a smooth check-in and check-out process of your guests.
· You have to provide them with a 24/7 contact. It will ensure that in case of any emergency, they know who to contact.
· You have to provide them with the visitor's book or a feedback mechanism. This would make them feel heard.
· You have to harvest the feedback mechanism or the visitor's book to find suggestions for improving your property.
Doing so will help you improve your property tremendously over time.
· You have to step into the guests' shoes to understand what they would need as a guest at your property.
o?Would they find board games interesting?
o?Would they need the best restaurants around?
o?Would they want to know more about the host or the property?
You have to think about the answers to these questions and integrate them with your property. A few board games or a list of best restaurants around or a brief about the property or the host will not cost you hundreds of dollars. However, these additions will certainly make your property stand out. Thinking from the point of view of the guest will provide you with multiple ideas to make your property stand out.
· Lastly, you have to add Instagram or the social media wall to your property. Something that has the potential of being synonymous with your property's experience. It can be a uniquely painted or a textured wall or a particular corner of your room. Guess these days like to post their experiences on social media. When you create such a unique feature in your property, they would post it on social media. It will not only garner some more eyeballs but also help your property stand out.
As you can see, there are a few tweaks that you can undertake to make your property stand out. These would not take a lot of time, effort, or money. The upside which they can bring is enormous. That is why; you should act on these few tips as soon as possible.
How to promote your Vacation Rentals on Social Media?
Above, we briefly touched on social media platforms to promote your vacation rental. No, we would elaborate more on that.
Some of the ways to promote your property on social media include:
1. Create separate accounts:
You have to create separate accounts on social media platforms for your property. These would be professional looking business accounts.
2. Upload content consistently.
You have to consistently share images and videos of your property on these accounts. You might be thinking, what should you upgrade consistently on social media?
· Add a new feature? Why not share that on social media?
· Got a bunch of happy guests? Share their feedback on social media!
· Pleasant weather around your vacation rental? Snap a picture and share it!
There is no dearth of content or images that you can post on social media when you own a vacation rental. Every day provides you with countless opportunities to generate content.
3. Highlight the experience:
Many vacation rental owners and agencies make the mistake of promoting the property itself. However, you're competing with hundreds of other properties. Instead, you can stand out when promoting the experience and have a lasting impression on the prospective visitor.
4. Interact on social media:
Promoting your vacation rental on social media is not a one-way street. You have to interact with the prospective visitors, answer their queries, and make it easy to book your vacation rental. Only then, can you expect to gain some benefit out of social media.
While there are many ways to promote your vacation rental on social media, these four simple ways can provide you with profound results.
How do I market my vacation rental property?
The best way to market your vacation rental properties to list it across various sites, get more reviews, and tie up with local events and festivals. That would certainly increase the visibility of your vacation rental and get you more bookings.
With the competition in the vacation rental space increasing at a rapid pace, marketing has become a must. Fortunately, in this digital era, marketing your vacation rental property is not that difficult.
1. Use several websites:
Most vacation rental owners and agencies just stick to Airbnb. However, that is a mistake. There are numerous other vacation rental websites that you can take advantage of. These include:
· VRBO
· HomeAway
· Vacasa
· Turnket
· Booking.com
· And So on
With these websites, you can extend the reach of your vacation rental property far and wide.
2. Get more reviews:
Nothing is more convincing than first-hand customer experiences. That is why you have to try and get more reviews from your existing guests.
These can be testimonials on your website, vacation rental websites, or social media. The higher your rating, the higher will be the conversion rate.
Testimonials also work as user-generated content. The more content generated, the higher would be your organic reach across search engines and social media websites. That is why; testimonials and reviews can help you market your property.
3. Make use of local events and festivals:
If there are any local events, festivals or exhibitions happening in the vicinity, you have to update your listing accordingly. You have to try and tie-up with the organizers of those events as well. Doing so will help you market your vacation rental easily.
Also, you can use the city where the event is garnering to market your vacation rental even more. It is often an underused trick. If you start early (most festivals/events are planned months in advance), it is easy to get bookings at the premium rate.
4. Ask for references:
Another great way to market your property and get more bookings is to tap into the vast pool of previous guests. Especially those who have had a positive experience while staying in your vacation rental. It will not only help you generate word of mouth publicity but also direct bookings.
These four are the most effective ways to market your vacation rental.
How to market vacation rental property?
The best way to market any vacation rental property is to sell the experience rather than the property. You can also tie up with local restaurants, tourist attractions, and businesses to offer a complete experience. It will help you stand out among the crowd and also make your marketing more potent.
Simply put, you have to offer much more than a competent vacation rental. You can do so by:
· Including breakfast from a nearby restaurant
· Providing discounted tourist attraction tickets
· Providing discount vouchers of nearby stores your guests
Once you do so, all these advantages will turn into your marketing edge. Then, you will have quite a few marketing angles to use. That would certainly help you market your property in a much better way.
How do I Advertise my Aacation Rental on Social Media?
The best ways to advertise your vacation rental on social media are:
· Upload pics and videos of your vacation rental properties consistently
· Interact with social media users (Those who comment & like your content)
· Use the right hashtags
· Upload content worthy of sharing
· Share discount codes on social media
Apart from these, of course, you can use paid advertising platforms like Facebook, Instagram, and Twitter to advertise your vacation rental on social media.
How to set up a vacation rental by owner?
To setup vacation rentals by owner, the steps which you should undertake are:
Step 1: Create a vacation business plan (Real estate cost, maintenance cost, cleaning cost, wear & tear, and so on)
Step 2: Stage the property for guests
Step 3: Quote an affordable rate
Step 4: Market and advertise your vacation rental
Step 5: Improve your property!
Step 6: Sell the experience
Step 7: Maintain the property
In a nutshell, these seven steps will make it easy to set up a vacation rental.
So, if you have been struggling to know how to market vacation rental property? Now with our guide above, you can do so easily. It is time to take a large bite out of this huge market to increase your bookings and boost your bottom line. With the help of a detailed guide above, no question is unanswered now. All you need to do now is to act on the tips above.