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2703 Views 8 Replies Latest reply: Mar 2, 2013 8:59 AM by coloradojen RSS
mrtommm New Member 3 posts since
Jan 31, 2012
Currently Being Moderated

Apr 2, 2012 12:44 PM

What are your advertising results?

Hello,

I have been renting my vacation rental for 15 years and am trying to determine the cost/benefit of various web sites.

 

Here are my results YTD (except for FlipKey which I signed up with on Feb 1st)

 

VRBO                     20 Inquries YTD, multiple email conversations, multiple rentals

VermontProperty      14 Inquries YTD, multiple email conversations, multiple rentals

FlipKey                   17 Inquries (since signing up on Feb 1), multiple email conversations, multiple rentals

HomeAway              21 Inquries YTD, multiple email conversations, multiple rentals

UnitedInUniform        02 Inquries YTD, ZERO email conversations, ZERO rentals

vacationhomerentals 03 Inquries YTD, multiple email conversations, 1 rental

 

What sites do you find effective?

 

Thanks,

-Tom

  • New Member 8 posts since
    Mar 27, 2012
    Currently Being Moderated
    Apr 2, 2012 3:51 PM (in response to mrtommm)
    Re: What are your advertising results?

    Interesting. Is this for a single property? It looks like you're having success from everything but UIU.

     

    There are so many variables, I can imagine others might have different results. It's a smart idea to track this, though. Do you get down to the details of your return on investment in each website? I bet that would be interesting, too.

     

    Matt

  • jeffbailey Contributor 102 posts since
    Jun 3, 2011
    Currently Being Moderated
    Apr 2, 2012 8:12 PM (in response to mrtommm)
    Re: What are your advertising results?

    I think it partly depends on the location of your vacation rental and a number of other factors.  My rental is a condo in Panama City Beach and our busy booking season is underway.  I currently list on VRBO and just started a trial on FlipKey.  I've had 77 inquiries in the last 30 days and just a couple on FlipKey.  I used to also list on HomeAway a number of years back and found that VRBO was much stronger for me.  I may give HomeAway another try to see I can fill a few more shoulder season weeks.  Another big factor in my case is that I'm the 3rd condo listed for my building (Seychelles).  It definitely pays to try to get the highest position possible.

     

    Jeff Bailey

    http://www.vrbo.com/94029

    Creator of Vacation Props, an innovative iPhone/iPad app to manage vacation properties and quickly respond to inquiries

    http://www.fourthframe.com/FourthFrame_Technologies/VacationProps.html

    http://itunes.apple.com/us/app/vacation-props/id452612798?mt=8

  • ttaylor0 Active Contributor 429 posts since
    Apr 1, 2011
    Currently Being Moderated
    Apr 3, 2012 8:06 PM (in response to mrtommm)
    Re: What are your advertising results?

    I hate to say this but I think you are going about determining the best site for your advertising dollars wrong.  Of course this is only my opinion, but this is how I decide which site is best.  I do not concern myself with the number of inquiries, especially with now that homeaway and vrbo has made it easy for a renter to sent out emails to several owners.  What I do is divide the number of bookings that I get off a site with the cost of the site to determine my cost per rental. Example, $350 a year to advertise on a site, I get 4 bookings….cost per rental is about $87……..$100 for a year and 4 bookings is $25….you see how it goes.  In theory this will tell you the real cost of advertising on all your different sites.

    I did this on HA, VRBO, Flipkey, and a few other local sites. To my supprise, my local sites averaged $20 per booking. HA was $70, Flipkey was $90, and VRBO was $50, but that is not a truly fair comparison as I took a special $99 a year on VRBO to try it out and I am listed on the 3rd page, but still got 2 rentals.

    However, if you get 20 listing a year at $70 per rental, that is still better than 5 at $20. So this is just another tool to help you see the big picture of your advertising cost.

    Hope it helps....Lord knows we need all the help we can get.

  • coloradojen Contributor 58 posts since
    Dec 7, 2012
    Currently Being Moderated
    Feb 28, 2013 9:29 PM (in response to mrtommm)
    Re: What are your advertising results?

    Wow, you are trying a lot of different places at once.

    I just started in the end of January 2013, so about 5 weeks into it now. I have had 23 inquiries from Homeaway, and also 2 direct booking/requests, resulting in 3 bookings (14 nights). I have had 33 inquiries from Flipkey and 2 bookings (18 nights). I am hoping I will be able to keep it booked with just these two sites, especially once I get a website up.

    • msdebj Senior Contributor 1,362 posts since
      May 25, 2011
      Currently Being Moderated
      Mar 1, 2013 1:10 PM (in response to coloradojen)
      Re: What are your advertising results?

      I just went over my advertising expenses & results (once again!)..

       

      I advertise on VRBO and Flipkey (both offer online payment options that I do not use), vacationarentals411.com ( a free service), and the local tourism site where my VR is located.

       

      The results are hodling steady over the last 6 months:

       

      Most inquiries & actual  bookings from Flipkey.

      Local Tourism site comes in 2nd (highest ratio of turning inquires into actual bookings).

      VRBO & Vacationrentals411.com are now tied for 3rd place, though the ratio of turning inquiries into bookings comes from vacationrentals411.com .

       

      Interesting...

      debj

  • loscuatrotulipanes Community All-Star 232 posts since
    Oct 7, 2011
    Currently Being Moderated
    Mar 2, 2013 2:00 AM (in response to mrtommm)
    Re: What are your advertising results?

    Kudos to you for tracking your results. Once you have plenty of data (to show a wide spectrum) I'm a big fan of evaluating your lead sources and then ditching the 80% of sources that don't produce and focusing exclusively on improving your top 20%. Here's the full 80/20 case study I demonstrate: http://www.vacationrentalmarketingblog.com/the-8020-rule/

    - M

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