In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Rebecca Lombardo, a fractional CMO and marketing strategist. Jamie and Rebecca discuss the meaning of a fractional CMO and its role in the vacation rental industry. Rebecca shares her journey into the vacation rental space, starting as a CMO at True Place, a company specializing in photography and virtual tours for vacation rentals.

The conversation covers the difference between listing and marketing a property, including the importance of understanding your audience through market research. Rebecca explains how to generate demand by tailoring marketing efforts to resonate with guests and homeowners, rather than relying solely on platforms like Airbnb or VRBO. She emphasizes the value of data in determining where to focus marketing efforts, such as social media demographics and email engagement.

The episode also touches on measuring the success of marketing strategies through various funnel stages, from initial engagement to conversions. Rebecca advises hosts on the initial steps for developing a marketing strategy and highlights the significance of identifying and targeting a niche audience. The importance of building a brand that stands out in a crowded market is discussed, including the potential to attract both guests and homeowners. Jamie and Rebecca also explore strategies for owner acquisition, particularly within specific communities, and the advantages of organic growth through word-of-mouth. During times of economic uncertainty, Rebecca stresses the importance of maintaining marketing efforts to capitalize on future opportunities.

The discussion includes insights on organic and paid social marketing, as well as the benefits of investing in marketing during downturns. Finally, Rebecca provides her perspectives on engaging in effective marketing and adapting to changing market conditions.