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Key Takeaways
Plan with Flexibility and Clarity: Develop an annual marketing plan, but allow room for adjustments. Focus on broader goals for the year while detailing campaigns 90 days at a time. Avoid over-planning specifics for months far into the future—things will likely change.
Set Realistic and SMART Goals: Use the SMART framework: Specific, Measurable, Achievable, Relevant, and Time-bound. Ensure your growth goals align with your resources and the realistic potential of your market. For example, adding 12 properties in a year is ambitious yet achievable for many.
Balance Guest and Homeowner Marketing: Diversify your focus between attracting direct bookings and acquiring new homeowners. For guests, invest in campaigns with clear ROAS (Return on Ad Spend) targets. For homeowners, prioritize quality over quantity by targeting high-converting leads.
Use Data to Inform Your Strategy: Review historical performance to guide budget allocation. Spend more in high-performing months and reallocate funds from lower-performing periods. Regularly assess metrics like cost-per-lead and conversion rates to refine your efforts. Ensure you track through the entire funnel, from lead acquisition to conversion.
Maintain a Weekly Scorecard: Track key performance indicators (KPIs) manually on a weekly basis to stay informed and accountable. Use tools like Google Sheets or other simple systems to monitor metrics like ad spend, leads generated, conversions, and occupancy rates.
Invest in Tracking and Analytics: Proper tracking tools, like Google Analytics, Ahrefs, or SEMrush, are critical to measuring ROI accurately. For homeowner marketing, integrate your CRM to track the quality and conversion rates of leads generated through various channels.
Budget Strategically: Allocate your budget flexibly based on performance. If a campaign is exceeding ROAS expectations, shift resources to capitalize on its success. For homeowner acquisition, anticipate higher costs per lead, often ranging between $100–$200, but ensure the quality justifies the spend.
Build a Marketing Calendar with Seasonality in Mind: Schedule campaigns around seasonal demand and key events (e.g., Black Friday, summer travel). Plan promotions and campaigns at least a quarter in advance to ensure smooth execution.
Leverage the Right Tools
- For SEO: Use tools like Ahrefs, SEMrush, and ClearScope to optimize your content.
- For social media: Schedule posts efficiently with tools like Plannable or Buffer.
- For email marketing: Platforms like MailChimp offer reliable, scalable solutions.
- For project management: Tools like Basecamp or Trello help keep marketing tasks organized.
Prioritize Quality Over Quantity: Avoid trying to do everything at once. Focus on fewer, more impactful strategies that align with your specific goals. For example, running fewer, well-targeted homeowner ads might outperform broad campaigns with poor lead quality.
What We Cover In This Episode
In this episode, Paul and Conrad refresh the annual marketing plan with some new tips and tricks along with bonuses (see show notes links below).
