How to improve your marketing strategy to grow your rental marketplace

In this ever-changing world, marketing ideas keep on changing over time and, gets updated along with the advancement of technology. It kept on improving since the birth of radio, then the television and now till to the advent of the internet.

A marketing strategy should ease in connecting with the audience and expresses the company’s goals, mission and, how they help customers life to be better.

A marketing plan is necessary to execute the strategy covering product, pricing, distribution, and promotion.

The key things to consider when you design any marketing strategy:

Pricing strategy

Setting the price is crucial for any marketplace. If you set the price too low, you stumble upon in gaining profit. Setting up too high will attract few customers to rent their property.

Research the market and see the prices around your neighbourhood.

Airbnb has two different fee structure. One is the shared host and guest fee where Airbnb charges 3% service fee and charges 13% from the guest. Two is the Host-only fee where they charge between 14% to 20%.

Homestay offers a 5% service fee, 3% credit card/eCheck processing fee and 2% international surcharge.

VRBO pricing is similar to Homestay.