That is some serious money.  I can add from experience, that the multiplier is much higher in the general eCommerce industry…….more like 10-15x.

Holding on to your guests and keeping them coming back is not rocket-science according to the recent discussion at the VRMA conference.  It is about making it a priority, and starting the sales process for the next visit, the moment they book with you for the first visit. 

The guest experience was broken into several stages, with ideas on each stage.

• Pre-Arrival – find out why they are coming, who they are bringing
• Arrival - ‘welcome home’, let them know how happy you are to see them
• Stay – treat them like family
• Check-out – provide special offers
• Post-Stay – stay in touch with emails, newsletters, offers

In my April Webinar, I will cover each of these areas in detail.  Please join us for this event on Thursday, April 23.  See details and chance to sign-up below.

Webinar:  Repeat Guests – 9 Ways to Make the Most of Guest Relationships

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VRMA has also launched Discover Vacation Homes as a national public awareness initiative for our industry and to make vacation homes a primary vacation option for travelers. 

Be a part of it!  Vacation Managers have the opportunity to become a part of VRMA – check it our at www.vrma.com.  In addition, Discover Vacation Homes offers vacation managers a position at the leading edge of marketing and positioning the vacation home rental industry.  Don’t sit on the sideline, be a part of the goings on. Check it out:

WATCH Video For More DetailsCreate more business for YOUR company, YOUR owners, and YOUR destination.  Don’t miss out on the many benefits of this national campaign!

      Join the Cause!

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The next moring, while I was spinning on my trainer in my garage and listening to music on songza……SURPRISE!!!……up pops a Travelocity ad about going from Boise to Charlotte. 

Personalized Travel Ad Based on a Previous Search

This is truly amazing marketing. 

Targeted marketing from Travelocity on a completely different website, on a different day, and at a different time.

This is amazing stuff and is setting the expectations of travelers as to how they will interact with their vacation provider.

Kudos to Travelocity.
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Even though this LA timeshare was far (like vintage 1984 for the LA Olympics) below the standard of the Marriott Maui, it did not have to be as much of a disappointment as it was.  I spent some time with the general manager of the resort discussing what I thought he could do to improve the experience.  Here is part of our conversation:

Set expectations – be very clear about what it is, and what it is not.  Trying to make it sound and look more than it is will only lead to disappointment.  This is especially true about the information provided after the booking is made.  I understand that a certain amount of ‘marketing/positioning’ needs to happen to get the booking.  But once the booking is made, start setting the expectations and preparing guest for exactly what they will find.  (’a retaining wall 4 feet from your balcony and bedroom window, but you only have to cross the street and you are on the beach, so enjoy the beach live, not through the window’)

Little things – budgets are tight, you cannot replace the carpet in every room every year (although 2 decades next to beach is probably the limit).  Update some pictures, some decorations, the plates/silverware, the outlets that wiggle in the wall and do not hold plugs in them b/c they are so worn, maybe a shower-head, ………you get the idea.  Details make the experience.

Preparedness – we had a planned outage as a transformer was replaced in front of the resort one morning.  Unfortunately the resort staff did not alert any guests about this and most of the emergency lighting and the flashlights (which are ‘plugged’ into the wiggly outlets) did not work.  I understand you cannot control the utility, but you can control your response.  Their response showed me very little respect for myself and other guests.

Welcome Gift – again it is the little things, but this just shows that “we are happy you are here, we are here to serve you, we are here to make your stay great, we appreciate you choosing us over all your other options”.  This can be something inexpensive & small, but it should be thoughtful.  It can make all the difference in creating a collaborative feeling between guests and the host.

We had a great stay.  The pool was awesome, the location next to beach perfect, and the distance to town convenient.  Unfortunately this was overshadowed by some shortcomings, that if addressed proactively would have been overlooked.

The Good:
Attention, publicity, and more recognition of our industry.  This enables a large portion of vacation home inventory to potentially be booked online.  This may spur interest in vacation homes across all kinds of travelers.  HomeAway will continue to be a good sales & marketing channel for vacation managers.

The Bad:
Competition – one of the advantages the vacation manager enjoys over the ‘rent by owner’ has been the ability to offer an online transaction.  A question comes to mind (let me know if you have the answer) – as a vacation manager, how do I synchronize a calendar with HomeAway to allow me to take bookings?  Sounds like you have to use the HomeAway reservation system to be part of theonline bookings on HomeAway.

The Ugly:
Lots of individual, lots of individual home, lots of one-on-one transactions, lots of $$’s, ………… this could create an environment with more fraudulent activity and undermine the credibility and trust we are trying to build into the vacation home rental industry.  Especially as it pertains to online transactions.

A comparison also comes to mind.  A spent several years working fro an eCommerce solution named Infopia.  Infopia provide small online retailers an eCommerce engine that allowed them to sell via their own website and via eBay.  Starting see where I am going?  Vacation managers have a brand (a valuable sign of quality & trust) on their own website, but no identity on directories, such as HomeAway.  Just like online retailers have an online store with a brand, but are just another supplier for an ‘I got it on eBay’ – even with branding efforts.

Which of these online retailers were most successful ?  The retailers who saw eBay as a sales & marketing channel.

Which of these online retailers were least successful ?  The retailers who saw sales on eBay as their goal – they lost their brand, competed only on price, and could not build their own business.  They became completely dependent on eBay.

An interesting analogy I think.

Ralf
LiveRez

1. The long-term business traveler
2. The business meetings & awards

The long-term business traveler is the consultant, or the person assigned to work with a different division or on a remote project.  These prospects can be all over the map, young & old, white collar & blue collar, high paid & low paid.  Finding them requires some creativity and some info gathering about what companies and projects you have in your area.  Is anyone bringing in lots of contractors, anyone starting up new business unity, anyone building a power plant (you would probably notice that one).

Business meetings, offsites, and award trips are being scrutenized like never before – by the government, the public,a nd the accountants.  An opportunity to offer companies an alternative to the high-flash vacation resorts.  The business meeting and awards will require you to do reasearch into companies as well.  You can look at what companies have done events at local hotels in the past, and you can start a marketign campaing directed at the HR and Executive groups.  Also think about going after the Marketing departments, maybe they want to give away some vacation time at one of your vacation homes as part of a promotion.

Hope this can help you get some more bookings.

Ralf
www.LiveRez.com

Here are some noteworthy stats – based on 2007/2008 bookings:

• For 1 Week 25% 
• For 6 days 20%
• For 3/4/5 days 15%

My expectation, and what i am observing across our many vacation managers is that the % of 7 day rentals is decreasing and travelers are looking for more flexibility.  While not being able to afford the full 1 week vacation, they do not want to forgo the vacation completely and a few days is much better than no vacation home at all.

So my advice is, put the old ‘week-to-week’ rental only strategy on the shelf while the economy and travelers are in recovery mode.

Ralf
www.LiveRez.com

Do not lose bookings to anxiety!

There is tremendous uncertainty about incomes, jobs, and personal wealth among our target market.  In order to avoid losing potential vacationers, that will not book a vacation just because they are uncertain about their future income,  we can address that anxiety by offering travel insurance.

We have all positioned travel insurance for the purpose of helping travelers in case unforeseen events prohibit them from taking their vacation.  Well, the most likely unforeseen event for many travelers is the involuntary loss of income and inability to pay for the vacation.  Some insurance companies will guard against this loss of income due to the loss of employment.

Take the time to find out the details about the employment requirements the insyrance company has – could be 1 year employed or even 5 years employed at the current company.  Also be aware of other potential conditions.

Once this information is clear to you, offer it to customers to help them ease their anxiety about booking their 2009 vacation home.  This can also become a differentiators for you and make you stand apart from your competition.

Ralf
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Read the article:  Big spring break group? Try renting a house!

“It was the perfect option. With a full kitchen, our meals weren’t subject to the whim of the hotel restaurant, especially when it came to the demands of two toddlers who preferred boxed mac-and-cheese over fish tacos. Everyone had their own room and bathroom. No bunking up. No fighting over who got to shower first before the wedding.
And, with a full house, it turned out to be a cheaper and more flexible option than most hotels.
We could hang out with the wedding guests at Costa Azul’s pool, or wander home and relax with homemade margaritas on our rooftop terrace overlooking the ocean. “

…..we know all the resons……Now I insert the challenges. 

1.  The only option for finding a vacation home that is mentioned in the article is www.vrbo.com  .  Unfortunate.  WE as a vacation management iondustry need to step on the gas to get the vacation home maangement company message out there.
2.  Groups are often feared by many of us.  They definiteky require more due diligence and care to ensure proper care for the property, limiting liabilities, and ensuring safety.

How do you ensure large groups are not the ‘irresponsible party crowd’?  Here are some suggestions:

• If it is an online booking, call them to confirm, welcome, and ask lots of questions.
• The person booking my rental (who must stay at the cabin throughout the entire time) to be at least 25 years old.
• Rental agreement  clearly states, that if any violations occur, the will be asked to leave immediately with no refund and no return of security deposit.
• Agreement says no loud parties. (Be cautious if I there are colleges around.)
• Don’t hesitate to come right out and tell them that you don’t rent to party groups or college crowds as the neighbors will complain.
• Tell that you regukarky ‘patrrol’ all the rentals, so your tem will be driving by .
• Ask what type of party the group is (married couples, family, students, hoodlums, ….).
• Tell the that all guests must be registered to to get into you  community facilities .
• Sample contract language:  4. NOISE: Because we respect our town, neighbors and the quiet enjoyment of their property, please do the same. This is a family home in a quiet residential area. This is not a “party house” and loud noise outside the house after 11 PM will not be tolerated and may result in your being evicted and losing your deposit and all monies paid.”

If you have any great tricks, please share.

Happy MLK Weekend!

Ralf
www.LiveRez.com