
STRonomics
Increase Revenue Big Time By Niching Down
Apr 4, 2024
Bill Faeth and Kenny Bedwell discuss the success of niche marketing in the short-term rental industry, focusing on pet-friendly and cannabis properties. They highlight the importance of targeting the right audience without being overly niche, cautioning against personal preferences overshadowing market demand. The conversation emphasizes the potential of well-thought-out themed and targeted properties in increasing occupancy and revenue.
19:27
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Quick takeaways
- Targeting an ideal buyer boosts rental property performance by catering to specific demographics like pet owners or cannabis enthusiasts.
- Showcasing unique selling points in property listings, such as family-friendly amenities, helps differentiate and attract guests seeking specific experiences.
Deep dives
Importance of Targeting Ideal Buyers
One of the main insights discussed in the podcast was the significance of targeting an ideal buyer in marketing a rental property. By focusing on a specific demographic, such as pet owners or cannabis enthusiasts, hosts can tailor their offerings to meet the unique needs and preferences of their target audience. The example of a host in Blue Ridge who successfully attracted guests by creating a pet-friendly environment highlights the impact of niche marketing in maximizing rental property performance.
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