Short Term Rental Marketing Explained (Easy)

I have been in marketing for over half a decade.

Since starting as a entry level employee and working my way up to business owner, I have put a lot of thought into what it means to do marketing.

I think people get confused about what marketing really is. I used to think:

1. Advertising is the same thing.

2. It's all about who can take the best photos.

3. If you make it, they'll come.

As time went on and my ponder sessions increased 🤔 , I believe I am able to simplify what it means to market.

Especially in the short term rental space.

Marketing is Talking About Your Thing

In all forms of marketing, I realized the core of it has one theme:

In today's digital age, Alex Hormozi states there are four ways you can talk about your thing.

1. Tell people you know.

2. Tell people you don't know.

3. Create content about the thing.

4. Run ads about the thing.

Seems simple enough right?

Let’s pick apart the treasures each path could hold.

Tell People You Know

This path works very well if you are well connected. I've seen people build their entire short term rental business through relationships with local businesses.

But, your business will only grow as fast as word spreads from your connections. If your friends aren't talkers, this path might not work for you.

Tell People You Don't Know

If you aren't well connected or new in town, it's time to get out there and talk.

Most people that see success on the path above had to go this route at some point.

Here are ways to make friends that will tell people about your thing:

1. Contact the chamber of commerce and figure out how to get your property on their rotating schedule of advertising. This typically has a fee.

2. Form an affiliate agreement with businesses who have the same audience as you.

People are usually more than willing to help you out with your business. It brings out a passion in most Entrepreneurs.

Create Content About The Thing

Now we move online to the most popular form of short term rental marketing.

Social media marketing.

If you're analytical or love numbers, you'll be successful using this approach.

Why?

A successful social media plan is all about testing.

I wrote a full article on how to test, what to test and how often to do this, but I'll give you the TL,DR:

1. Pick a network like Instagram or Facebook.

2. Pick a story.

3. Figure your formats.

4. Test your formats.

5. Stay consistent.

Social media algorithms are built to keep people online longer. This is done by showing people content they like.

Therefore, your goal is to create content people like. The algorithm will do the rest.

If you're drawing blanks in the idea department, find people that are marketing a little bit better than you then pick apart their content. Use the framework above.

Run Ads About The Thing

Before I explain ads, I want to give three disclaimers:

1. This is the most expensive option by far.

2. Spend only what you are willing to lose.

3. It's a steep learning curve.

There are two different types of ads you can run that I encourage you test over time.

1. Interruptors

Interruptor ads are shown when people don't expect it. These ads present an idea that typically has nothing to do with what the viewer was doing.

Instagram Ads usually fall under this bucket.

2. Catering

These ads are shown in two spaces:

• A space that allow brands to increase the quality of an experience viewers are already doing. (Like a beer ad at a football stadium).

• In front of a viewer already looking for brands alike.

Google Search Ads usually fall under this bucket.

Deciding on which ad type to use depends on your intent.

Intent for Interruptor Ads: 

• Brand awareness.

• Building an audience on social media who would later buy.

• Target impulse buyers.

Intent for Catering Ads: 

• Leads.

• Bookings.

The Four Ways To Talk About Your Thing

Which way you pick all depends on what you want to do. Below are some pros and cons I came up with.

Marketing is just talking about your thing. The more people you tell, the more guests you book.

You should pick the path you can stay on a consistent basis without getting discouraged.

I'd love to hear on what path you choose. Let me know on Instagram.

That's all for today, I'll see you in the next article.