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Key Takeaways
Balance Strategic and Tactical Thinking: Strategy defines the “why” behind your actions, while tactics outline the “how.” To succeed, start by identifying your goals, such as increasing direct bookings or acquiring more properties, then layer on tactical plans to achieve them.
Consider Timing as a Key Factor: Seasonality plays a critical role in vacation rental marketing. For guest marketing, ramp up ad spend during peak booking periods (e.g., January–March for beach markets). For owner marketing, focus on “signing season,” tailoring campaigns to target owners when they’re most likely to switch managers.
Build the Necessary Infrastructure First: Effective marketing depends on a solid foundation. For example, on the guest side, email marketing requires a list, email platform, and templates. On the owner side, you need a defined market, trust-building assets (like reviews), and clear service differentiation before running campaigns.
Budget for the Long Term, Not Quick Wins: Marketing success takes time. For example, homeowner marketing may require months of effort before yielding results, as campaigns depend on trust-building and a long sales cycle. Be prepared to invest in infrastructure, advertising, and lead nurturing without immediate returns.
Track and Adjust Your Strategy Regularly: Create a roadmap with budgets, goals, and expected outcomes. Revisit this every quarter to compare actual results against expectations. Use data to refine your campaigns, and be willing to pivot if something isn’t working.
Leverage Brand Awareness for Compounding Returns: As your brand grows, marketing becomes more effective. For example, increased homeowner trust leads to more word-of-mouth referrals, while larger guest portfolios improve search engine performance and ad ROI. These “compounding returns” are a significant advantage over time.
Measure Success with Realistic Expectations: For guest marketing, aim for a healthy return on ad spend (ROAS), typically 5x–10x. For owner marketing, expect higher costs and longer lead times. Avoid comparing early-stage campaigns to the success of mature brands in your market.
Execution is Key to Strategy: A strong strategy only works if executed well. Ensure your team is aligned on goals, campaigns are monitored closely, and leads are followed up promptly. The best strategies can fail if execution falls short.
What We Cover In This Episode
In this episode, Conrad and Paul talk about how you can use the right building blocks in your vacation rental strategy to maximize the growth of your business. They debate tactics vs strategy and why there’s a time and place for both.
