Establishing Your Vacation Rental Brand in a Competitive Landscape

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Information about Establishing Your Vacation Rental Brand in a Competitive Landscape

Published on December 8, 2016

Author: VincePerez1

Source: slideshare.net

1. Establishing Your Brand in a Competitive Landscape Vince Perez - CEO of Fetch My Guest Partner / Beach House Rentals

2. Brand A·ware·ness noun 1. The extent to which travelers are familiar with the distinctive qualities or image of a particular brand of goods and/or services.

3. Hotel Brand Exercise

4. Travelers Are Looking for You!

5. Traveler Value Expectation Affordable / High Value Professional Standards Expensive / Low Value Traveler Fees and No Service

6. ● What makes your Brand unique ● Where you should be leveraging your Brand ● Why Brand is more important than ever ● Strategies to improve Brand performance and profitability What We Will Cover

7. How Many Bites Can You Take ? Traveler Fees Property M anager Fees

8. 4 Sure Ways to Lose Your Brand Give any Listing Site or PMS control of : ● Inventory ● Guest communications ● Cancellation Policy or Payments ● Forfeiting your definition of “Free” Don’t leave your business vulnerable

9. The Impact of Brand Dilution Losing your Brand has a domino effect: ● Limits your marketing opportunities ● Diminishes your ability to communicate effectively with travelers ● Impacts your ability to price your “product”

10. Good News Travelers are Looking for You ! ● Each Vacation Rental company is a “unique” Brand ● Travelers are looking to connect with your unique Brand ● The “Professional Host” is the best source to deliver on the vacation rental experience

11. What is The Opportunity Cost 10 Bookings @10% /$500 per booking ● What you pay in commissions: $500 ● or $50 per booking to build their brand...not yours ● The loss of your Brand: PRICELESS Invest in your Brand first !

12. Successful Brands Have a Story ● What are travelers saying about you ● What does your community think of you ● What brings the traveler back ● How do you feel about your business ● …..Brand intimacy is key

13. Brand Intimacy

14. How do Hotels Drive Brand Awareness? ● Brand loyalty ● Engaging content ● Cross sell with other “Brands” ● Book Direct

15. “The business we’ve received through web direct is higher than it’s ever been and is growing faster than ever, thanks to increasing share shift. The share of web direct channels in our distribution mix is growing five times that of the OTA share growth in the quarter, and business generated from our mobile app is up nearly 150% year-over-year with downloads exceeding 70,000 a week, an increase of 200% over last year.” Hilton CEO Christopher Nassetta “We’ve obviously done it because we’re optimistic about this approach driving an increase in direct bookings and driving that much more awareness of the advantages of direct booking.” Marriott CEO Arne Sorenson “There’s no question that our focus and everyone’s focus seems to be to further enhance and develop the relationships that we have with our own customers, and that’s going to be a continued absolute focus for us because that’s actually what matters. That’s what will drive brand loyalty over time, so you have to enhance those relationships. From time to time that may create friction with OTAs who are trying to do the same thing, but there’s no question that their platform, which looks really different to what we do and what other branded companies do, is a value to travel at large. There’s no question about that.” Hyatt CEO Mark Hoplamazian

16. “Book Direct and Start Saving”

17. Effective Brand Strategies ● Email Marketing ● Event/Intent specific Targeting ● Social Media ● Content Impact to SEO

18. Email Marketing

19. Email List Make the lists work for you: ● Inquire - did not book ● Book - repeat/return Event specific ● Inquire - did not book ● Book - repeat/return

20. Example of a Successful Intent Driven Email Campaign Newsletter Spend (4000 emails) / Bookings achieved $$ Excellent ROI !

21. Desired Goal Achieved! Database for Ski Pass campaign: ● Inquired / did not book ● Book / Repeat Guests ● Target based on expressed intent

22. Social Media

23. Social Media Explained ● Twitter: “I’m eating a donut” ● Facebook: “I like donuts” ● Instagram: “Here is a picture of my donut” ● YouTube: “Here I am eating a donut” ● LinkedIn: “My skills include donut eating” ● Pinterest: “Here is a donut recipe”

24. Power of Twitter Brand Megaphone Educate the Traveler

25. Power of Instagram Promote views from your properties Guest participation Get Local Promote Local Merchants

26. Power of Linkedin Focused Network Traveler Friendly Great Ad Tools

27. Power of Facebook New Property Introductions Guest Reviews Local Testimonials Facebook Contest!!

28. How to Use Facebook Video Blogs Contest Guides $$$$$ Offer Page Landing Page Property Page

29. Facebook Ads ● Focus on unique messaging ● Target your radius - stay focused ● Set a specific goal ● Wrap around contest !!! Boost, Boost, Boost

30. Content is King!

31. ● Newsletters (Call To Actions and label) ● Guest post (Social Media, LinkedIn, Travel Blogs) ● Curate Content (re-post) ● Blogs (your site, LinkedIn, Medium etc) Content Examples Quality not Quantity

32. ● Local events ● Guest experience ● Your team! ● Partnerships, affiliations and promotions What Do I Write About? Things that interest the traveler

33. ● Increase trust ● Increase traffic ● Increase bookings ● Improves SEO ROI of Content Marketing Build Brand Value

34. Create Less, Promote MORE ● Twitter as a megaphone ● Direct traffic to your site or other Social Media ● LinkedIn (future) - sponsored content or ads ● Recycle, reuse and repurpose content

35. Brand + Community are Tough to Beat!

36. Brand Performance vs Listing Sites Traveler NO to Fees! Traveler YES to Brands!

37. Travelers Prefer to Book Direct….With You 70% of Leads from Listing Sites Preferred to book direct! Booking direct through our site Phone Direct Direct Inquiry

38. The Travelers Best Friend Let The Traveler Engage with You !! Choice

39. Improve Your SEO Outlook ● Limit your inventory on listings sites ● Respond direct to traveler ● Social Media Brand Awareness ● Content keeps them engaged Dramatic improvement to SEO

40. Brand Impact is Powerful! Our Brand outperforms the big sites Visitors are engaged (Retention) 50% new visits (Growth)

41. Measure, Measure, Measure You can’t measure what you can’t see: ● Analytics ● Level of engagement ● Campaigns that work best ● Newsletters

42. Metrics Matter What is the Level of Brand engagement? ● Who is sharing my content and from where ● Who is coming to our site and how ● Who are we converting and why

43. Results of Effective Branding ● Repeat guest ● Referral business (social, community etc) ● Less volatility / maintenance ● Higher profitability ● Happy owners

44. Learn from Hotels: Embrace Your Community ● Natural barrier to entry ● Think “Regional” pie ● Your choice is simple: them or you Send Referrals!! Lack of community invites bad behavior

45. If You Only Remember This……. ● Your Brand is everything…..period ● Travelers are looking for your Brand ● Many ways to communicate through your Brand ● Competition is no longer down the street Market Will Reward Those That are Prepared

46. Vince Perez Fetch My Guest vince@fetchmyguest.com Thank you !

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