7 Reasons to Diversify Your Vacation Rental Marketing

diversify marketing

Diversifying your marketing efforts can protect the financial independence of your company and help you increase your ROI.

Just like investing, it pays to diversity your marketing efforts. Many professional managers are stuck in the rut of just posting their properties on advertising sites and relying solely on those channels for bookings. But, as we’ll outline in this post, there are multiple benefits to diversifying your marketing efforts – so you’re not held hostage to one or two channels for your financial success.

But, before we take a look at why diversifying your marketing will help, let’s define what we mean by diversification. For the purposes of this post, we’re going to say that diversification is being active on multiple marketing channels – channels not being just listing sites, but any way in which you can reach potential guests. Channels encompass advertising sites, but also include things like SEO, email marketing, Adwords, Adsense Remarketing, social media, blogging, public relations, print advertising, and local partnership and affiliations, among others.

So now that we have defined diversification, let’s take a look at some of the reasons why diversification is good when it comes to marketing.

Financial Independence / Leverage

The problem with relying solely on one or two channels for marketing is that you have no leverage when the channel costs increase. This is especially relevant to short-term marketing strategy channels like advertising sites, which only produce revenue while you are paying for them.

Realize this: If you get all of your bookings from one channel and that channel become more expensive, you are virtually forced to pay more. Plus, as a middle man, your owners are also expecting continual returns on their investment, so that puts even more pressure on you to get results, locking you in to channels and forcing you to increase your costs. And, when you pay more for marketing and don’t get greater returns, it cuts into your commissions and lowers your profits.

Simply put, you need alternatives. And you have to realize that some of those alternative you can’t just turn on at a moment’s notice; rather, they have to be built over time.

Market Changes

Everything changes. 60 years ago, print advertising was the bread and butter of most marketing departments. 30 years ago, TV and radio were the top dog. Nowadays, internet marketing is king. But, even internet marketing has changed dramatically in just the past few years.

You need to be prepared for the effectiveness of every single one of your marketing channels to either increase or decrease as consumer trends change. Developing multiple marketing channels is one way to weather that change. It gives you time to adjust to the change in one channel, because you are supported by your other channels. In some cases, you may even need to be prepared to stop using a channel altogether because it doesn’t provide enough return on investment.

Reaching Different Customer Types

Your potential guests will vary in their shopping behaviors. Older guests will certainly find you through different means than your younger guests. International guests different than domestic guests. Men different than women. High income different than low income. The best way to be successful in marketing is to understand where your potential customers are and be in all those places.

Return on Investment

If you’re only using one type of channel, how can you compare your ROI? You simple can’t, because there is nothing to compare it to.  Using multiple channels gives you perspective on which of your channels is performing better, especially how that channel’s ROI is changing over time. Sometimes, ROI goes up and down seasonally, or is different for different customer types. If you don’t invest in different marketing channels, you won’t have that type of data to draw from.

The Cross-Pollination Effect

One great thing about having multiple marketing channels is seeing how they all work together. For example, how are your blogging efforts affecting your SEO rankings? How are advertising inquiries fueling your email marketing lists? How is traffic from all channels fueling your Adsense Remarketing efforts?

Marketing generally follows the rule of “The whole is greater than the sum of its parts.” Your marketing channels don’t just sit in different rooms and not talk to each other. They interact with each other and increase each other’s effectiveness.

Testing

Having multiple marketing channels gives you more room for testing new ideas. If you only had one marketing channel, you wouldn’t want to take chances with it, because it would be your sole earner. Having multiple marketing channels gives you a platform to test the effectiveness of different messages across different mediums and across different demographics. And, after a while, you’ll start testing new channels and adding to your marketing arsenal.

Equity

One of the most important things about having multiple marketing channels is that it allows you to focus on both short-term and long-term strategies while you build equity from your marketing efforts. What we mean by equity is marketing that continues to work when you are no longer paying for it or at least not dedicating as many resources to it. Some short-term strategies can get you great results immediately, but as soon as you stop investing in them, they stop producing revenue for you. Other channels that may take longer to development (like SEO) will continue to produce revenue for you even if you slow your investment in them.

Think of building equity as building your brand. As your brand grows, you become less reliant on marketing. Marketing is really the act of getting your product or service in the mind of your potential customers. Once you’ve built a home in their mind, everything gets easier. When you start to generate brand recognition, you’ll have people come straight to you. And, when people come straight to you, you both save money AND are far less reliant on any specific channel. And, when you decrease your reliance on any one channel, you can focus more on the channels that provide the best ROI (so you can earn more profits).

Learn More About LiveRez
LiveRez is the fastest growing vacation rental software provider for professional vacation rental managers. The company’s cloud-based, end-to-end platform offers fully integrated solutions for reservation management, trust accounting and online marketing, with high-ranking, high-conversion dynamic websites and an extensive affiliate marketing program. The company is a proud Gold Sponsor of the Vacation Rental Manager’s Association (VRMA).

Visit LiveRez.com to learn more:

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5 Tips to Get More Traffic to Your Vacation Rental Website

website traffic

Check out our quick tips on getting more traffic to your vacation rental website.

The first step in getting more online bookings is getting more traffic to your website. While there is no catch-all solution to getting qualified traffic to your website, here are a few helpful tips to consider.

1. Focus on SEO – Organic traffic from search engines is free and normally very qualified, meaning that the people visiting your site are in the market for renting a vacation property. Here are a few tips to improve the way Google ranks your website:

  • Target Realistic Keywords (when you’re just starting, you may want to focus primarily on longer, more specific terms)
  • Create Content That is Unique and Helps Your Guests
  • Optimize Your Pages for Keywords (Page Title, Meta Information, Headings, Alt Tags, etc.)
  • Create and Attract Back Links (links that point back to your website from other websites)

2. Create Pay-Per-Click Campaigns – Google Adwords allows you to bid on top search terms and pay to be listed on the first page. You’ll pay only when someone clicks on your ad, and you can set budgets so that you don’t overspend. If done smartly, Adwords can offer a huge return on investment for your marketing efforts.

3. Send Marketing Emails – As a professional manager, you probably have already gathered a big list of past guests and prospects that you can send marketing emails to. Marketing emails are a great way to entice people to book your properties and to keep your business top of mind. Furthermore, email marketing tools like Mail Chimp and Constant Contact are fairly inexpensive, leading many marketers to say that their email marketing efforts give them the best return on investment among their marketing channels.

4. Try Google Re-Marketing – A little known feature of the Google Adsense program is the ability to record what visitors come to your site and then show only these visitors display ads on other sites. Any website that runs Google Adsense ads is eligible (and there are tons of sites online using it). Once a guest comes to your website, they’ll see your ads all over the internet. Google Re-Marketing generally comes in at a lower cost per click than Adwords and allows you to get a massive amount of impressions.

5. Don’t Forget about Social Media and Blogging – Creating and sharing content on social media channels is a great way to grow your online following and create consistent streams of traffic to your website. The content creation and sharing process can even help with your SEO efforts. Here are a few tips to get you started:

  • Initially, focus on the big channels: Facebook, Twitter, Google+, YouTube and your blog.
  • Submit your best website pages and blogs to social bookmarking sites like StumbleUpon and Reddit.
  • Try running promotions that are exclusive to your followers (or require a person to follow you to get the benefit)
  • Try advertising on these channels. It’s a great way to grow your followers.
  • Make sure to share all the content you create on these channels. You always want to include a call action in your posts, whether it is asking the person to like your post, retweet your post, follow your blog, click on a link, etc.
  • Use a free program like HootSuite to schedule your posts in advance.

These are just a few quick tips to help you get more traffic to your website. Check out some of our other blog posts to find more information on marketing tips and tricks.

Learn More About LiveRez
LiveRez is the fastest growing vacation rental software provider for professional vacation rental managers. The company’s cloud-based, end-to-end platform offers fully integrated solutions for reservation management, trust accounting and online marketing, with high-ranking, high-conversion dynamic websites and an extensive affiliate marketing program. The company is a proud Gold Sponsor of the Vacation Rental Manager’s Association (VRMA).

Visit LiveRez.com to learn more:

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Please consider “liking” it and sharing it on your social media channels via the buttons below. You can also follow us and get notifications of all new posts via the “Follow” button Follow Us in the bottom right-hand part of the screen.