How to Increase Vacation Rental Bookings: The “Expect to Book” Mentality

This is the second part of a three part series focusing on strategies and tactics that can help vacation rental managers and hosts increase their conversion rate among guests who are non-committal, comparing properties or “just browsing”. Each part of the series will introduce a new strategy or tactic and show you how it could play out for a vacation rental property manager in a simplified scenario. If you have missed part one (“Following Up Questions with Questions”), it is recommended, though not required, that you give it a read.

 

IN THEORY

Inbound inquiries in the vacation rental industry come at varying levels of decisiveness. It’s easy for property managers to book the reservation for guests who have already made up their mind, but it’s often difficult to convince those that have yet to decide to book. While a property manager needs to approach each of the preceding situations differently, their mindset should be the same regardless. They should “expect to book”!

When property managers expect the potential guest will book their vacation with them it’s apparent in their guest communications. Suddenly the wording is more helpful, positive and confident instead of pushy or uncertain, which makes a huge difference for guests.

Obviously there will be some potential guests who decide to travel elsewhere or stay with another local accommodation, but the best property managers don’t let this get to them or affect their mentality that the next potential guest will book with them.

 

IN PRACTICE

Poor Wording: “Hello, I remember a couple of weeks ago we spoke about your family trip to Utah in July and I was wondering if you and your partner had made a decision about what kind of accommodation you would be staying in. By the off chance you haven’t made a decision yet, we would appreciate it if you would take a look at our property.”

Improved Wording: “Hello, it’s good to speak with you again! Our team is busy gearing up for a busy summer season and we are so excited to be opening up our property to so many families. I know that you said you were looking for a week in mid-July and I wanted to get your final selection of a date before we’re completely booked. Do you have an exact date that will work best for your family?”

To put this mentality into practice for your vacation rental or property management company start by writing down five positively framed sentences that you can use in your guest communications. This blog post was inspired by and based off of Bill Guertin’s article “The Secret, Subtle Language of Winning Sales Calls”.

Also be sure to check out part one and three (which was previewed in this blog post) of this series to determine potential strategies and tactics that you can use to build around the “expect to book” mentality.

 

ABOUT THE AUTHOR

Dylan DeClerck is the VP of sales and marketing at Pablow, a travel insurance technology provider and broker that works with vacation rental property managers to offer vacation rental travel insurance to their guests hassle-free and in a matter of minutes. The company is based in Iowa and provides travel insurance to more than 25,000 vacation rental properties in the United States. Dylan is also the executive director of a non-profit that teaches athletics to at-risk youth.

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The Newest Vacation Rental Necessity

Introduction

Have you heard of post-sale travel insurance?  The new concept is quickly becoming a vacation rental necessity for vacation rental retailers, property managers, and software providers.  In the next three minutes I guarantee that you’ll understand post-sale travel insurance and some of the ways it can help your vacation rental company meet your goals, obtain more profit, and build better relationships with your guests.  In addition, we’ll explore a few of the more popular reasons why guests purchase post-sale travel insurance.

What Is Post-Sale Travel Insurance?

Travel insurance is a common way to protect guests from the risks of travel, and most professionals in the vacation rental industry understand how it works.  Post-sale travel insurance, on the other hand, is new and different from any other travel insurance products.  The primary differentiator is that it can be sold after the booking and final payment date all the way up until 24 hours before the start of the guest’s trip, which benefits both guests and hosts.

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What Can Travel Insurance Do For Your Vacation Rental Company?

Post-sale travel insurance offers vacation rental companies an additional revenue stream without having to invest any resources, which means that all of the money generated is pure profit.  One software provider estimated that travel insurance could increase their profit per booking by up to 35% and that property managers could increase their profit per booking by 7%.

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Guests love a seamless online purchase process, so finding a travel insurance website that fits your brand and is easy for guests to use is the key to earning additional revenue.  Some companies will even help you create a customized travel insurance website free of charge and in a matter of minutes.

Post-sale travel insurance is incredibly popular with property managers, because it allows them to protect the long term relationships with their guests.  Any travel insurance that prevents guests from purchasing insurance after the final deposit date inherently limits which guests it will cover. What you want is a policy that can be offered to guests up until just before the start of their trip.

Insurance companies are often known as heavily regulated and difficult to work with.  However, post-sale travel insurance is just the opposite since it eliminates the need for insurance licensing and signing a contract.

What Can Travel Insurance Do For Your Guests?

Many guests find that post-sale travel insurance provides them with peace of mind when traveling, a rare occurrence for most guests.  Furthermore many guests are used to staying in hotels where cancellation conditions are very generous, in comparison to the strict cancellation conditions of vacation rentals.

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Post-sale travel insurance claims happen most frequently due to guest injury or illness.  Purchasing post-sale travel insurance helps guests protect against accident and medical expenses during their trip, and also protects against emergency medical evacuation.  Even if guests have a pre-existing condition, they can purchase a valid policy if it is bought within 20 days after their trip deposit is made.

Post-sale travel insurance is also extremely valuable in case of injury, illness, job loss, or a myriad of other covered reasons that might cause a guest to cancel all or a portion of their vacation rental reservation and/or trip.  By purchasing travel insurance the guest immediately transfers all of  these cancellation risks to the insurance company.

How To Get Post-Sale Travel Insurance

The best place to begin offering post-sale travel insurance is through www.pablow.com, which will allow you to create a customized travel insurance wpablow-splashebsite in just a matter of minutes without the licensing and contracts as mentioned above.  The website they provide is completely free and their affiliate fees are competitive with the rest of the industry.  Post-sale travel insurance can be yours in no time!