The hospitality industry is highly competitive, as it continues to grow and expand alongside the exponential rise of tourism. This makes opening a short-term rental, for example, a plan with great potential, but also highly demanding and a challenge that is not as simple as most people might initially think.
As with any business sector, the commercial success of a short-term rental is not solely based on being pleasant, comfortable and clean. The competition is fierce, and it is also essential for the property to stand out from the rest, leading to increased bookings and, consequently, greater financial profitability.
This is where marketing comes into play, enabling you to establish strategies that increase the number of bookings for your short-term rental, attract new customers, and retain existing ones. Below, we've gathered 5 marketing strategies to improve the performance of your short-term rental.
1- Adopt a Long-Term Vision
For those starting a business, it is not easy to have a long-term vision. We have just made a significant investment and want to recoup it as quickly as possible. However, it is counterproductive to focus on short-term plans, and profitability is rarely achieved before the end of the first year.
In the hospitality industry and with short-term rentals, this is even more important. It is crucial to establish a long-term strategy, especially before the peak seasons begin. This allows you to manage money more effectively, balancing weaker months with stronger ones.
There will certainly be months when your short-term rental is not booked every day, but there will be others when demand is higher. We know that peak seasons, such as summer or Easter, are highly competitive, however, if there are festivals or other events in your area that attract many people, it’s equally important to take that into account.
By planning your season with a long-term perspective, you'll be able to adjust prices strategically and rationally. A month-to-month approach might tempt you to make short-term decisions to recover lost income quickly, but this could end up undermining all the progress you've made. A more sustainable strategy ensures steady growth and stability in the long run.
2 - Encourage your Future Customers to Book
If your short-term rental is new to the market, you’ll need to focus more than ever on attracting new guests. A key marketing strategy is to encourage potential customers to book your property. To do so, you need to give them a reason that convinces them to choose your listing over the competition.
Create exclusive offers, especially outside of booking platforms. Use social media to engage new followers. Additionally, guests appreciate the personalized contact of short-term rentals. For example, offer a discount for guests who book your short-term rental for the first time.
In addition, discounts and promotions, as they are time-limited, act as an emotional trigger that prompts an immediate reaction from potential customers, who act on impulse for fear of missing out on the offer. This is why such extra incentives are a great marketing strategy frequently used in the hospitality industry.
3. BE EASY TO FIND
Online booking platforms are essential for any short-term rental, but it's equally important to have a presence across all social media and search engines. Not being visible online is like not existing.
There was a time when not having a website was a guaranteed business downfall for any brand, service, or company. However, with the intense competition today, just having an online presence is no longer sufficient. You need to stand out. This is why social media and search engines must be integral parts of your strategy.
Studies show that most guests use booking platforms to search for the best deals, but when it comes time to choose a short-term rental or another type of accommodation, they cross this information with details about the host, property, or company. Therefore, having a personal website is not only important, but it is also crucial to ensure that you can be easily found.
The new generation of internet users no longer relies on phone calls or email to inquire about information. They search on Google, visit Facebook, or use other online tools. Therefore, it’s crucial to have comprehensive information about your short-term rental available online, including location, photos, and direct contact details.
4 - Launch a Digital Bait
Digital bait is one of the most commonly used digital marketing strategies by online businesses, and it is something you can also use for your short-term rental. Digital bait involves offering something in exchange for information. For example, you can include content on your website about the best activities to do in your city and ask visitors to provide their email address or phone number at the end.
This is because studies show that a large percentage of internet users, when visiting a website, are not yet ready to make a reservation. By offering digital incentives, you ensure that the user stays engaged for later. If they find the content appealing, they will develop a positive perception of your short-term rental as well. This makes it easier to convert them into a guest when they're ready to book.
5 - Hire a Digital Marketing Company
Digital marketing is the set of strategies and tools used in online media, including fundamental tools such as SEO. These initials stand for Search Engine Optimization, which in Portuguese means something like Optimização dos Motores de Busca and has to do with guaranteeing your company a privileged position in search engines.
In other words, when someone searches for Local Accommodation on a search engine such as Google or Yahoo, SEO ensures that your property appears in the top positions. It's well known that most users never go beyond the first page of results when they do a search, so you can understand the importance of appearing in the top positions.
Digital marketing companies have decoded ways of understanding how the algorithm of these search engines works, in order to be able to break through to the top. These strategies are related to keywords on your website or the rationalization of addresses, something that is not always easy to understand or do.
Therefore, investing in a digital marketing company can be a great idea, especially for Local Accommodations that are starting out and are new to the market. It's an excellent way of gaining ground and establishing a position with potential clients.
