Are you not getting as many bookings as you’d hoped? Are you looking for a way to improve guest loyalty and fill those gaps in your calendar? More and more travelers are looking for deals and discounts when it comes to travel, and many will even plan a getaway at the very last minute if they find a good deal.
Promotions and discounts enhance the value of your vacation rental business by attracting guests throughout the year, especially in the low season and between bookings. We summarize the key promotions you can use to attract more guests below.
Why are discounts and promotions essential for vacation rentals?
In the competitive vacation rental market, offering discounts and promotions not only attracts more guests but can also help you differentiate yourself from other hosts and properties. Travelers are looking for attractive deals and additional value, and offering this can help you stand out from the crowd.
In addition, well-planned promotions are also an invaluable way to build loyalty among those who have already stayed at your property. A satisfied customer who receives a discount on their next stay is more likely to return, which translates into recurring revenue.
The best discounts and special offers for your vacation rental
Now let’s walk through the best times of the year and the best reasons to adjust your daily price and incentivize guests with attractive rates.
Seasonal discounts and special dates
Throughout the year several key dates and periods offer you the chance to offer discounts and special rates. Some key dates include:
– Black Friday: Black Friday is one of the most important and anticipated consumer dates in the calendar, and we have all become well-accustomed to finding discounts. Offering a special Black Friday promotion can be a great way to generate early bookings for the following months. If you have properties in popular destinations, discounts can attract those who are planning their vacations in advance.
What’s more, if your rental faces seasonality issues (a notable drop in bookings towards the end or start of the year), you can leverage Black Friday to combat seasonality.
– Christmas, New Year’s Eve, and New Year’s Day: During the holiday season, people often look for special destinations to celebrate, but they are also often budget-conscious given the time of year. Offering discounts on additional nights or promotions on longer stay packages can attract more people looking to make the most of the vacations without overspending.
– Long weekends and national holidays: Long weekends and national holidays (such as Easter, Saint Patrick’s Day, or Thanksgiving in the USA) are some of the most popular times for travelers looking to break from their norms. Offering exclusive discounts during these periods can help secure bookings over other listings potential guests may also be considering.
– Anniversaries or special dates for your property: If your property has been in operation for a while or you recently renovated, organizing promotions to celebrate the anniversary of your vacation rental or any special event related to your property can generate excitement and attract new guests.
2. Long-stay discounts
Long-term tourism has gained popularity in recent years, especially with the rise of remote work. Many travelers want to stay longer in a single destination, and offering long-stay discounts can appeal to this segment. Airbnb has begun to cater to this segment by offering month-long searches for their listings.
You can offer guests who are willing to book for a month or more a discount for these longer-term stays. Monthly prices not only improve occupancy but also reduce guest turnover, which can be beneficial for managing fewer check-ins and check-outs.
3. Discounts for early bookings
Early bookings are an excellent opportunity to secure future revenue and plan your property occupancy well in advance. Offering a discount to those who book months in advance can incentivize travelers to commit early, which helps you secure occupancy in slower seasons.
Early booking discounts can also help you plan your property management more effectively, knowing further in advance than normal how your occupancy rates for a future period will look.
4. Airbnb and Booking.com discounts
The two most popular booking sites also have their own unique sets of discounts. On Airbnb, you can also offer guests special monthly rate stays. Likewise, you can also encourage guests with non-refundable bookings. Custom settings mean you can also offer early-bird or late booking discounts with the hope of filling up your calendar and reducing vacant periods.
Booking.com has its own discount programs in the form of its Genius program and mobile discounts. Genius is their version of a loyalty program and offers guests who regularly use the site the chance to save on each of their bookings. Their system works on a level basis with the percentage discount changing on how active they are as users.
Hosts can sign up for the Genius program to attract more potential guests. Their mobile discounts offer discount percentage savings for those who book through the app.
5. Discounts for new clients or referrals
Building guest loyalty and encouraging them to recommend your property to their friends or family is one of the most effective strategies to achieve recurring bookings. Offering a discount to first-time bookers is one way to encourage travelers to try your property. An attractive discount may be enough to entice new visitors. This could be especially beneficial if your listing is relatively new and you want to establish some credibility by attracting guests who will leave favorable ratings.
Similarly, offering discounts to current guests if they refer new customers can also be an effective strategy. Travelers are more likely to recommend something they consider valuable, and offering incentives for them to do so only increases your chances of receiving more bookings.
5. Special discounts for less popular days of the week
Monday through Thursday tend to have lower demand than weekends, so you can offer special discounts to attract more guests during these days. In addition, offering these discounts can help increase occupancy during off-season weeks.
This type of promotion can also attract business travelers or those looking for quick getaways during the week. This can be a useful way to ensure you get bookings throughout the week and avoid having a vacant property for days on end.
6. Discounts for full occupancy of the property
If you have a large property, such as a house or villa with several rooms, you can offer a discount if the entire property is rented instead of individual rooms or units. This strategy can attract large groups, such as families, friends, or companies looking for a unique place to stay during a retreat or event.
How to communicate promotions to your audience
Once you have decided what kind of discounts and promotions to offer, it is crucial to get the message out there so people can take advantage. Here are some strategies for communicating your promotions.
Social media is one of the most effective platforms to promote offers. Use Instagram, Facebook, LinkedIn, or X to share your discounts and promotions in a visual and attractive way. You can create eye-catching posts with graphics that highlight the key dates of your offers.
Be sure to include calls to action (CTAs) that encourage your followers to make a reservation. For example, a “Book now and get 20% off your next stay” can be a clear and compelling message.
2. Email
Email marketing is a powerful tool for keeping in touch with your past and potential guests. Send regular newsletters with updates on special discounts, new promotions, or upcoming offers on key days. Use segmented lists to customize offers based on your guests’ interests and booking history.
3. Update your website and listings
Your website is the first point of contact for many guests, so it is essential that it is updated with details of promotions. Make sure that promotional information is clearly highlighted on the home page and that it is easy for guests to see how to apply these discounts when making their reservations.
Likewise, it is vitally important that you update your listings on all of your connected platforms (Booking.com, Airbnb, etc.). These are the most popular ways for guests to find and book your accommodation so best make sure your discounts appear here.
4. Paid advertising
If you are looking to reach a wider audience, paid advertising campaigns on Google Ads, Facebook or Instagram can be useful. You can segment your audience based on interests, geographic location, previous behaviors, and more. Plus, you can adjust your budget based on campaign performance to ensure you’re getting the highest return on investment.
Offer prime discounts with Smoobu
Adjusting your nightly price and offering promotions is an effective strategy to improve the occupancy of your vacation rentals, build guest loyalty, and generate more profit. However, it is important to be strategic about when and how to implement them. Be sure to consider key calendar dates, length of stays, and audience segmentation to offer relevant and attractive promotions.
For more information on how you can offer effective discounts, and how Smoobu can help, learn more now.
