August 13, 2018

Best Ways to Unlock Your Property’s Booking Potential

If you ask any successful short-term rental property owner, there is a tried-and-true method they use to increase revenue and bookings. However, that doesn’t mean the method is a simple one; it takes many iterations and experiments to improve your business model and target your ideal customer. If you are looking for the best ways to unlock your property’s booking potential, try these tips.

1.     Take The Time To Learn Who Your Short Term Rental Guests Are

Do you know your target audience? What is attractive about your property? Do you advertise to business clients or leisure travelers? Sit down and sort your past guests into groups using their demographic information, such as income bracket, location, age, and family composition. Structure marketing by pinpointing consumer buying activities.

 

2.     Use Power Words In Advertising To Persuade

Have you ever read something that stuck out to you because of the language used? More than likely, it was the power words that got your attention.  Would you choose a pretty home or a charming, delightful, or heavenly one? Power words can take a boring marketing campaign and transform it into a compelling ad that attracts attention.

 

3.     Convince Your Guests They’re Getting A Deal

Consumers want the best value for their money, and travelers are no different. This means that when potential guests are searching for lodging, it’s important to show your property off well enough that they recognize the appeal of your property immediately. Be sure to price it at a number that situates you in a competitive spot but also doesn’t shortchange the value of your home.

 

4.     Use The Tools At Your Disposal

Larger operations all hit the same snags in rental management eventually. Nowadays, there are many software platforms out there designed to help short-term rental operators with these common problems. Do your research on the many property management or vacation rental management software tools on the market and make sure to choose one that meets your industry needs. Take a look at Cozmo, Voyajoy’s vacation rental management software platform, for a user-friendly option that doesn’t sacrifice any freedom for power users.

 

5.     Imagery Tells A Story

Your photo gallery is your version of a department store display window. MDG synthesized results from several surveys and found that about 67% of consumers wanted images that clearly defined products because they felt that imagery carried more weight than feedback or product descriptions. You need to capture the most idyllic views that will make travelers choose your property over the competitors. You also want to capture your property’s personality and style. The more consumers know about your property, the higher the probability of increasing bookings and revenue.

 

6.     Do Not Overwhelm Potential Visitors 

Do not overcomplicate a booking by giving consumers too many details. Only choose the essential property details. Use your photo gallery to tell a visual story. You do not want to overwhelm, but you also do not want to bore. Know your visitors and choose the details that will make them book your property based on a blend of needs and wants.

 

You can learn from your mistakes by reinventing your brand identity. When it comes to bookings and sales, you need to consider the basics before you can add the charm and appeal.

 

Tags
Airbnb
Rental Management
short-term rental
Short-term rental management
Vacation Rentals

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