VRS372 – Vacation Rental Feast or Famine with Matt Landau


This episode of the Vacation Rental Success Podcast is sponsored by NoiseAware
Prevent parties, property damage, and loss of rental revenue with one simple solution


With 2020 behind us and a still-uncertain 2021 ahead, the fallout from a feast or famine year is apparent in every short-term rental market.

Those who drew the positive straw are still reeling from the massive business boost, while those who suffered through wave after wave of cancellations and no re-bookings are still struggling to figure out what to do next.

Founder of VRMB Matt Landau joins me to discuss some very practical solutions for either maximizing the opportunities or shoring up.

For those managers who experienced an upturn last year once restrictions were lifted, the actions to take are more proactive and strategic and involve investing in people and processes, while Matt recommends RBOs get serious about email marketing, segmenting, and personal messaging.

For both groups, he talks about strengthening what works and jettisoning what doesn’t.

A simple act of telling a story and writing an ‘open-heart’ letter to past clients and guest describing where you have been and where you are now, is the first action Matt suggests for those who’ve fallen into the famine bracket.

This doesn’t entail asking for pity but is simply an act of sharing what’s been difficult and how you are working your way out of it.

This underpins the value of telling stories to drive connections with your audience.

The tips Matt offers are actionable, pragmatic, and entirely valuable in the world we are living in right now and include:

  • Zooming in on your best employees and delegating more
  • Strengthening acquisition strategies
  • Re-examining processes to define what works the best
  • Working on SEO, PPC tactics, PR, and outreach
  • Investing in better problem solving through masterminds, online courses, and business coaching
  • Becoming a forcefield and shoring up for better times
  • Pivoting to different business models
  • Drawing up an exit strategy and getting the business ready for the next stage
  • Reflecting on whether the business is still right for you

There is a lot to unpack in this episode so if you listen on the move, make a point of listening again when you can take some notes.

Links:

VRMB

Vintory

Build Up Bookings

Top Grading with John Dean of Only Provence

A Masterclass in Growing a Vacation Rental Company

C2G Advisors