What is social media and social marketing and how can a vacation rental home owner use them to get better referrals and better renters? With this simple question we will begin a multi-part series on defining the different social media technologies and explaining how each can be used to more effectively market your vacation rental home.
In our first article on the product life cycle of a vacation rental home we discussed the first two stages, development and introduction. We are now going to continue by discussing the growth and mature stages of a vacation rental home business.
To better understand a vacation rental home business it is beneficial to think in terms of product life cycle. After all, a stay in you vacation home provides a unique set of features and benefits to your guests - just like any other product. Understanding these concepts will help you plan your marketing budget and get better insights on when to make capital improvements.
Two recent events caught my attention and illustrated to me the power of social and it got me thinking about how this could help market vacation rental homes. The first involved a lost Livestrong bracelet, the second involved a contest to find 10 large red balloons moored at different places in the United States. You may be thinking, "how can these two events be related?" and what do they have do do with social and vacation rental homes. Well now that I have your attention please read on...
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