Breckenridge Vacation rental marketing
How should my property be marketed?
In today’s vacation rental market the internet has become the prodigal son of any management companies marketing bundle, and a vital component of a comprehensive marketing strategy. Let’s examine some important segments of a comprehensive marketing plan.
Third party GDS advertising – This segment includes discount/wholesale bookings (Orbitz), as well as travel agents. While this type of marketing can be expensive due to 10%-20% reduction in gross revenue, it does make up the largest portion of internet bookings. This type of marketing is absolutely essential for a management company to meet and exceed booking and revenue expectations as an extremely large portion of vacationers choose to book their accommodations on travel sites rather than directly with the company. These companies have an established presence in the market due to the fact that their advertising budget easily eclipses the total budget of any management company.
Return Guest advertising – This segment of marketing can be wildly successful at a very low cost. Return guest booking are achieved by a combination of marketing tactics. First is providing first class accommodations and services to each guest before, during, and after their stay. Second, the guest needs to be provided with return, early and referral booking incentives upon checkout as well as following their stay. These incentives encourage repeat bookings and also allow the management company to stay in contact with each guest following their stay.
Travel site referral advertising – This market segment requires minor or no out of pocket expense and usually produces a positive return. Individually marketing with these types of partners can be very cost effective and can be done with little effort. However, marketing with comprehensive and large group of these sites and becomes very costly and labor intensive and to manage all of them.
Website Direct advertising- This is potentially the most expensive and least productive type of marketing. Between search engine optimization (SEO), professional web design, hosting, a robust pay per click campaign, and professional pictures a high ranked site could cost 5-10k upfront and 1k monthly to maintain. However, an attractive, content rich, easily navigable site is absolutely necessary for a management company to be viable. Also, an aggressive, targeted, and robust pay per click campaign is a necessary adjunct no matter the level of the website.
At Resort Managers we have developed a technologically advanced, efficient, and effective internet marketing strategy that will increase your bookings and net revenue. We are ready to take your property to a higher level in marketing, contact us today.