Every holiday property has room for improvement and it's how you analyse your business year on year that will help you achieve its maximum potential.
Would you like to have more bookings or do you want to run your holiday letting business more effectively? The answer is most probably yes, but it's very unlikely that you will achieve this unless you analyse your businesses performance and put some extra effort in. We have compiled a list of hints and tips that will help you improve its efficiency.
Analyse Previous Performance
If you haven't measured your property's performance in previous years you can't manage it going forward. Every holiday property has room for improvement and analysing what works and what doesn't gives you an insight on what can be improved.
- Where are your visits coming from? Can you increase conversions using these sources?
- Invest in what works - experts say that you should invest 10% of your annual income back in to marketing
- Could you increase your rates for those dates that tend to be popular year on year?
- Cut out what doesn't work - you don't have to target every type of customer, removing unnecessary strategies allows you to concentrate on those that do
Within SCRUMPY you have the ability to manage your channel spend and track conversions. Channel spend is a great way to record all of your current annual spend against channels you're currently using.
This helps you calculate the 'cost per conversion'. This is a great way for you to review the different channels you are using and to compare those that are converting visits into bookings.
Spot Booking Trends
Whilst everyone is an individual and should be treated that way, there are certain trends when it comes to placing bookings that shouldn’t be ignored.
Statistics show that January is the busiest time of the year to plan a getaway. For many it is a time following the Christmas period and a way to escape the ‘winter blues’. It allows one to look forward to those foreign soils, country escapes or city breaks and build up anticipation for what is to come.
However, the second most popular time to book is actually in the summer.
Made up of those placing last minute bookings, and travellers returning from holidays, to book in preparation for the next year. Whilst the idea is fresh, there is a likelihood they will consider staying again, almost as soon as they return home. Especially if their break was memorable and want to recreate it the following year.
Streamline Your Booking Process
Streamlining your booking process to be more professional is a major factor when making sure your holiday let is a success. Ensuring that it is easy for your guests to book and pay for their stay enhances your guests' experience.
A lot of thought has gone into every aspect of SCRUMPY. From the customer facing front end of our websites - that are laid out for easy navigation, with clear layouts and a simple booking process; to our software that is accessible via an internet connection, which allows users of all abilities to manage and promote their businesses.
Your guests are likely to return to the same destination so encouraging customer loyalty is a great way to improve your business year on year. Giving your guests the ultimate experience and going that extra mile will allow you to stand out from your competitors. If your guests have enjoyed their stay they are likely to recommend you to their friends, which is the best and cheapest form of advertising - you could offer a 10% discount to returning customers, or give them ‘refer a friend’ incentives to fill those dates in your availability calendar.