marketing : return on investment
Return On Investment
Quite simply, any marketing and sales activity you undertake for your holiday property, has to generate more income, at least covering the cost of the extra money you have spent plus rental income.
Return On Investment (ROI) levels vary between individuals but we would suggest you should look at at least 500%. So for every pound you spend you want to get five back.
Measuring Your Returns
The only way you can see if your marketing is working for your holiday property rental business, is by measuring it. You will need to ask people how they found you and your holiday property, so you can see what is working and what is not. One way of advertising, for instance, may only work during specific periods of time, such as Christmas.
What we will look at are cost-effective ways to market your holiday property, rather than throwing money at it.