3 top marketing tips to build a more profitable rental business.
Updated: Nov 16, 2020
Whether you are starting out as an AirBnB host or a landlord with multiple HMOs or SAs under your belt, establishing a reputation for providing high quality properties and accommodation can truly transform your business (and your income). It demonstrates your commitment and the pride you take in delivering a high standard and more memorable guest experience.
Here are our 3 top marketing tips to build a more profitable rental business.
1. Build your brand.
Regardless of the number of properties or rooms you have available, it's important to remember, successful businesses have a strong coherent brand.
Your brand is not a logo, it is the total sum of people's experience of your business, reflected in everything you do. From the overall quality of the accommodation, it's online presentation, to the way you communicate and welcome your guest, and all those little thoughtful touches you like to offer.
By thinking of your business as a 'brand,' can help to increase the value of your proposition and drive demand.
Price is typically an issue in the absence of value, put another way, the more your brand (your business) delivers value, the more profitable your proposition becomes.
2. Generate a positive first impression.
To build a successful business, with the seasonal nature of the industry, you need to increase the profitability of your proposition ie. command a higher rate per night. Hands down, the best way to increase your return, is to maximise your exposure to attract more interest and bookings. This is why professional property photography is essential, to showcasing the value you can offer your guests above and beyond of your competition. An experienced and highly recommended professional property photographer is a sound investment, as they have the experience and expertise to present your property at it's very best.
With nearly 100% of all guest leads originating from online searches, your photo-marketing has to engage, excite and motivate potential guests. Here at ProfotoDesign, with our popular multi award-winning property photo-marketing services, we do this by not just showcasing a property, but by addressing your guest's specific expectations and needs. Check out some amazing case studies here.
We start with you the host, to identify the demographic of your preferred guests, so we can pin point their requirements in order to tailor our marketing content to your specific business.
3. Success is in the planning
When looking to introduce your house, flat or rooms to the rental market, it is important to know your local market and more importantly your competition. By seeing what else is out there, will enable you to see what adjustment you can make to help your business compete with others.
This research provides a valuable insight into the diversity and quality of your local market, the amenities on offer, provide inspiration and let you see what the local market rates are per night to ensure you remain competitive.
By carrying out this simple review periodically will enable you to compare your offering and help identify areas you can make those all important improvements.
Unless you are very niche or centrally located within a city, hosts need to find new ways to encourage potential guests to book with them. Typically, successful host consider the presentation of their business and brand online is vital as FIRST IMPRESSION ALWAYS MATTERS!
To find out how you can attract more bookings and SAVE 20% OFF professional award-winning AirBnB photo-marketing with offer code 'AirHost20' please visit us HERE Please note: we offer a COVID secure service.
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