What is Short-Term Rental Marketing?

I have been working in marketing for 5 years.

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. Personally 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 is means to market. Especially in the short-term rental space.

Marketing is showing people your thing.

In all forms of marketing, I realized the core of it involves:

Companies showing people their thing and how that thing changes the lives of the ones who use it.

In today's digital age, Alex Hormozi states there are four ways you can show people 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?

From the start, neither path is better than the other. You'll have to test each path overtime.

Let's pick apart marketing tactics you could take on each path.

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 in the step above had to take this path at one 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. Typically they'll require an annual fee.

2. Reach out to businesses who have the same audience as you. Then, talk about an affiliate agreement.

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.

The goal of any social media algorithm is to present the user stuff they like so they'll stay on the platform longer.

Therefore, your goal is to create things 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.

Facebook 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.

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

Google search ads usually fall under this bucket.

How you decide on which ad type to choose depends on your intent.

Intent for Interruptor Ads: Brand awareness, building an audience on social media that would later buy or impulse buyers.

Intent for Catering Ads: Leads or bookings.

There are four ways to show people your thing.

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

Marketing is just telling people about your thing. The more people you tell, the higher chance you'll be booking more guests.

How you tell people depends on what can be done over and over 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.