Growth Hacking in a Nutshell:
Growth hacking is a set of processes and a mindset that hyper-growth companies use to get as many customers as quickly as possible and rapidly identify which growth channels and opportunities work best.
Growth hacking aims to leverage what small businesses do best - speed, tenacity, and creativity to deliver results. In this article we're going to examine nine tactics which property managers can use to growth hack.
#1 - Deliver amazing content
Content is kink - this will always be true when it comes to digital marketing and growth hacking. You use content marketing to drive website visits and to prove the quality and value of your offering.
But creating content is the easy part. Creating content that is valuable is hard. Content needs to help people and make it worth their while to watch and engage.
Here are a couple of content ideas which you can implement immediately and start driving traffic.
Local Guides
Guests love engaging with personal, well thought out content that talks about things they can do in the area. Most people start their planning on Google or on Yelp, but love getting real, local recommendations from experts - people like you who live and breathe that area every single day. Social posts and blog posts about the following ideas are going to drive traffic.
- Top 5 restaurants as recommended by your AirBnB Host.
- 3 great activities you can do with your family when visiting for a long weekend.
- Our favorite bars if we were visiting for a weekend.
#2 - Retarget & retain previous visitors
Industry stats and research shows that repeat guests are often worth 140% of new guests, and they're around 80% cheaper to convert and sell to. Repeat visitors and returning guests are a no brainer and should be a huge priority for each property manager and AirBnB host.
While retention is a massive topic with a lot of strategies and tactics associated with it, we've presented a couple of retention tactics which you can implement from day-one to get people coming back again and again.
#3 - Get customers to write review and create content for you
AirBnB reviews are great but they don't do much to build your profile and visibility outside of AirBnB. Lots of emphasis should be placed on getting customers to review you outside of AirBnB or the other OTA's. Instagram, Facebook, and Google are great places to accumulate reviews.
AirBnB is great at getting people to leave a review. But they don't do anything about public reviews. We'd suggest setting up automations that run after a stay with links to a google page or your facebook or instagram page.
This is also an excellent opportunity to collect contact information and any other collateral that might help with retargeting and guest retention.
#4 - Collaborate with brands and develop partnerships
One of the best ways to drive exposure and site visits is to get your logos, your company materials, and your names associated with other brands and products. For instance, if you run a short term rental management company in Miami or New Orleans, it would be extremely beneficial to partner with a popular local bar or restaurant. By collaborating with established brands in the hospitality industry, you can cross-promote each other's services, reach a wider audience, and enhance your credibility in the market.
This strategic partnership can lead to increased visibility, more bookings, and ultimately, greater success for your property management business. Partnering with reputable establishments not only helps in boosting your brand recognition but also creates a positive association with trusted and well-known businesses in the area.
It's a win-win situation for both parties involved, as you can leverage each other's customer base and provide added value to your guests through these partnerships. Don't underestimate the power of networking and forming alliances with other businesses in your community – it can be a game-changer for your growth hacking efforts.
#5 - Invest in branding and differentiators
In the competitive world of hospitality, a strong hotel brand is not just a mere identity; it is the essence that sets your establishment apart, creating a lasting impression on your target audience. A well-crafted brand strategy extends beyond a logo; it is the embodiment of the entire guest experience, from the initial booking process to the final farewell at checkout. Your brand shapes the perception of your hotel, instilling trust, fostering loyalty, and sparking positive word-of-mouth recommendations.
Investing in a robust brand strategy is not just a financial commitment; it is an investment in the future success of your hotel. A strong brand not only attracts new customers but also retains existing ones, driving revenue growth and ensuring repeat business. The importance of staying front of mind cannot be overstated.
#6 - Master Instagram Ads
Over the past decade, Instagram has transformed online marketing, becoming a key platform for travelers seeking their next destination. In this guide, we'll show you how to integrate Instagram into your social media strategy and highlight its benefits for short term rental marketing.
With millennials prioritizing "Instagramability" when choosing travel destinations, hotels must target this audience with captivating content. Online shoppers are increasingly comfortable making purchases via social media, creating opportunities for hotels to engage with younger travelers seeking exploration and personal growth.
Here are some things you can do to make your instagram ads and instagram growth grow.
- Find a target audience that really resonates with your product. Try and find an age range (like 30 to 40) that you want to attract and set up the target audience in meta ads manager to match that.
- Connect your direct booking website with your Facebook pixel to track conversions from your ad campaigns and help your ads auto-optimize for the right audience.
- Show off the unique amenities or high performing selling points of your rentals. If you've got a hot tub, show it off. Same with a great view. Etc.
- Run ads to promote sales and deals.
#7 - Harness the power of influencers
Influencer marketing has become a powerful tool for short term rental brands looking to boost their visibility and attract new guests. By collaborating with influencers who have established credibility within specific travel communities or on social media platforms, hotels can leverage their influence to reach a wider audience and drive bookings. These influencers have built a loyal following of engaged followers who value their recommendations and trust their opinions.
Through strategic partnerships with the right influencers, you can showcase your unique offerings and amenities in a way that resonates with your target guests. The captivating content created by influencers not only generates excitement and brand awareness but also fosters a sense of authenticity that traditional advertising often struggles to achieve.
#8 - Implement Referral Marketing
Short term rental managers and AirBnB hosts can leverage the power of referral or affiliate marketing to tap into the potential customer base of bloggers, niche travel experts, and social media influencers. By engaging these affiliates, you can access a broad and engaged audience to increase their visibility and in turn, bookings.
Affiliates are commissioned for direct sales, that is, for every person who books a stay based on the affiliate's referral. This marketing strategy is relatively hands-off and requires minimal effort from the your end, yet it can significantly impact sales and bookings, especially when affiliates have a robust following. You can then track the effectiveness of their referral programs and modify them to ensure they are reaping the desired results.
#9 - Work with local travel and tourism organizations
Short-term rental hosts can benefit from partnering with local travel organizations or associations. These organizations/associations often provide hosts with education, support, and networking opportunities. By joining forces with these entities, hosts can stay up-to-date with industry trends, and learn about resources that can help grow your businesses.
For example, several industry associations actively represent the interests of vacation rental hosts and property managers to policymakers. These organizations may advocate for joint advertising, location marketing, radio spots, etc.
In addition, hosts can tap into the growing trend of business travel. Platforms like Booking.com and Airbnb offer business-friendly features, and more travellers are combining business and leisure. This practice benefits the short-term rental industry, and hosts can target this demographic to increase their bookings. And often, business travelers go through their companies - companies which partner with local organizations to find the best places for their clients.
