In the past I have spent much effort on discussing niche marketing. I am all for targeting, profiling, and not trying to be everythign to all people. I want to share some very interesting points that I picked up last week at the VRMA (Vacation Rental Managers Association) annual conference.
Target Customer: Know who your target audience is and spend time to understand how the travel habits (budget, transportation, and other logistics) will be affected by the economic crisis. Are their jobs recession resiliant? Do they need to fly to your destination?
Here are some statistics from a recent PhocusWright study to help you understand the typical Vacation Rental traveler:�
60% have a college degree
33% have an income over $100,000
90% take over 2 leisure trips/year
Here is one you have to internalize. 75% use the internet for over 1hr per day. 75%!! For over 1hr.
I am not saying that this decribes your exact travler, but if you think that the internet is not critical to your success as a vacation manager, think again.
My message – Know your customer. Know your customer. Know your customer.
Happy renting.
Ralf
LiveRez
Tags: online vacation booking, vacation home rental, vacation property management, vacation rental, vacation rental software