The vacation rental industry is an 85 billion dollar industry with virtually every demographic planning a dream vacation, year after year. A majority of vacation rental managers often realize too late about vacant inventory. Focused solely on families (or vice versa) this late realization leads to last minute price slashing with mixed results. Wouldn’t it be nice each year to be ahead of the curve and guarantee a larger percentage of bookings?
Studies have shown (Framingham Heart Study) that men who regularly vacation are 32% less likely to die of heart related illnesses compared to men who do not take a regular vacation. What’s worse is that women who don’t vacation twice a year are 8 times MORE likely to suffer from a heart related illness. These studies reinforce the notion that happier, healthier people across the board, know that rest and relaxation are vital to their health.
The question is: are you capturing every demographic the correct way?
Today’s marketing tools make it easier than ever to target specific demographics:
Facebook Targeted Ads– Facebook ads have come a long way in terms of targeting. Users of Facebook today are revealing more and more information within their own profiles that Facebook has tactfully gained access to who each user is. If one bedroom condos are a large part of your inventory still in stock, the ability to create an ad specifically toward those in relationships with less than 2 children as well as including the unmarried and married with less than 2 children, ensures that those in your target segment are the only ones who are viewing such an ad.
Facebook Post Targeting– Did you know you can cater a post to specific demographics? Much like Facebook ads, specific post targeting allows you to display certain posts to current fans that you wish to capture. Suppose there are a number of units you’d like to see booked for an upcoming weekend. Depending on your vacation rental price points, wouldn’t it make sense to target to those solely within a day’s drive? Creating a targeted post highlighting this facet has the potential to yield higher results.
Segmented E-mails– Does your company use departure questionnaires? If not, it might be time to consider implementing them. Gathering as much information on former clients can help determine location, time of year and frequency of their vacation habits.
PPC– Google, the mother ship of all things related to targeting. It should be of no surprise that Google knows everything about you. Whether you use their browser, (Chrome) or simply use Google searches on a daily basis, the fact remains that they are keeping tabs on your search history and figuring out with great detail, who you are. The power of this information is outstanding. One of the tools marketers have at their hands is Pay Per Click Ads. Incorporating a well-timed and concentrated PPC campaign not only increases views but can also show you in a variety of facets where you may be failing in converting actual sales.
Demographic information is one of the most vital aspects to understanding your business. With comprehensive research within your own buyers’ history as well as carefully executed targeting measures, the ability to capture and retain audiences has never been stronger. Utilization of these targeting tools can propel your company’s overall performance.