The holidays are here! Did you get the memo? But for smart Short Term Rental operators, it is the time to get moving on our marketing plan for 2022. So… knowing the key dates in your market is crucial for understanding the booking cycles of our guests. So inbetween bites of Christmas pudding, get out your planning calendar for 2022 and get your prices and your marketing plan sorted right now.
No time to wait! If there is one thing you need to do before the end of this year it is plan out your calendar for 2022 BEFORE the start of 2022…
Leaving Money on the Table
Does the thought of leaving money on the table make you feel bummed too? I’ve felt like like such an idiot when I get a booking for a major holiday and the pricing isn’t optimised. This mostly happens when the calendar is open for well into the future and I haven’t kept my eyes on the pricing settings. I am a real last minute kinda gal so it is an effort for me to think long term.
BUT.. there are plenty of organised people who are booking their holidays super early and these are likely to be well organised guests. Well organised guests are guests that you want to be booking your listing.
You’re in business to make money right? So a crucial part of your marketing plan is understanding your key dates and peak seasons throughout the year and adjusting your pricing accordingly can add thousands of lovely dollars to your profits.
For no extra work, maximising the nightly rate on each and every booking is money straight into your pocket.
Your costs are likely to be fixed throughout the year so maximising your nightly rates whenever possible is the difference between a good year and a great one. The airlines and hotels have figures this out which is why you should too.
Maximise your Profits with seasonal prices in your marketing plan
As most of my guests are booking overseas holidays, they tend to book 12 months in advance. So I have my calendar open for 12-18 months. But I have to stay on top of my seasons.
If the pricing is set too low and you get a booking, it is next to impossible to earn that money back – money is left ON the table.
After kicking myself more times than I care to admit, I have learned the following routine. I am sharing this with you so that you don’t go through this too. Creating a marketing plan that makes sense for your unique business and your listing and your ideal guests.
Summer bookings start after Christmas
For the Northern Hemisphere: If you haven’t optimised your Summer marketing plan, then this needs to be your top priority – no excuses – get to it. The minute that people have finished eating their Christmas dinner, is the minute that they start to plan their summer holidays.
If you are a Summer holiday destination like a beach or a lake this is essential. Your peak money making time is June – August. So right now is when you should have your Summer photos set, your pricing to maximum – higher than maximum even. Really push the price HIGH to capture these early, high margin bookings. You can always adjust your pricing to fill in the gaps as dates draw near.
For the Southern Hemisphere, people start to plan their snow holidays right after Christmas, so if you own a ski chalet in New Zealand, the time to get your pricing and photos ready is now.
Main Holiday Weekends/Events
What about other important holidays? Events? Conferences? Sporting finals?
Each area is different and you know (or should know) when your important dates are for your listing. For example: If you’re in a ski resort, then Winter is your top season. Your pricing for Winter 2022/23 should be set – if it isn’t then do it NOW.
If you have a grand final/world series, nascar, horse race in your area, then make sure your 2022 calendar has those dates marked already and your pricing is set, your copy is written to target people who are wanting to come for those events – anticipate the needs and let guests know that you can give them a great experience for these events.
For me in Tokyo, my peak times are New Years Eve, Chinese New Year, Cherry Blossom. My prices are set for these dates really high at least 18 months in advance.
For other events like the Tokyo Marathon, I have prices set at least 2 years in advance. People train for years for the marathon. My Olympics prices were set 5 years in advance. But that is another story.. 🙁
Research the market
If you are unsure what are the popular dates, do some research with your local government or chamber of commerce or tourist office. Get curious about why and when people are coming to your area and make some strategic plans about capturing those bookings at the highest price possible.
Dynamic Pricing tools
There are a ton of different options on the market for pricing systems. They can be super useful and also great for making microadjustments on a daily basis to keep the Airbnb algorithm happy. They scrape data from the market and make all sorts of claims of knowing more than you do about pricing. But they are NOT set and forget. Don’t simply trust a machine to do this for you. Do the research, know your market, teach the system which are the important dates.
One that I recommend is Wheelhouse. It is quick and easy to set up and integrates with all the major platforms. Plus you can play with last minute discounts and other options.
Don’t be like a wallflower at a dance
Are you waiting to be picked? Hoping that somebody will notice your listing and book?
Some tough love here:
Your house is not the final destination. You are solving the problem of where to stay for people who are coming anyway. To be the solution, you need to to undertstand their needs and pain points. Show them how YOU are the right choice.
Get proactive NOW.
Figure out who is coming to your area at different times of the year, why they are coming and who is making the buying decisions. Be strategic with your listing photos, copywriting and amenities.
BUT Tracey… what about our holidays?
As Short Term Rental Hosts, we have to work when everybody else is having a holiday – weekends and public holidays really have no meaning. After 10 years as a host, we have built this into our schedules and our expectations of family holiday.
Get out your calendar now and book in your own holidays for 2022 – be strict on this and make sure you prioritise your needs too. Hospitality burnout is REAL so plan for regular breaks from your business to focus on your family and relaxation.
If this is all TOO much..
Don’t feel like you have to struggle alone. If you need help with your marketing strategy or pricing strategy or you need some tools to streamline your business, reach out, I can help.
Book a free session with me, and I’ll find the hidden money, the secret strategies and the hacks that you can apply to your business.. click this link and let’s chat.
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