We’re going to have some fun!
First, we’re going to create a fictitious company for the purposes of my new series of blog posts #BuildingAMarketingStrategy.
I shall christen it Alissa’s Experience Rentals (AER). I have been in business for 5 years and my company has 25 properties, from 1BR condos to 6 bedroom oceanfront homes.
I am located on the mid-Atlantic coast and competition in my area is fierce.
My niche is reasonably priced, pet-friendly homes and my demographic is millennial adventure-seekers, predominantly groups of friends between the ages of 30-38.
My goal is to provide experiential vacations with hands-on exceptional customer and concierge service, including packages (inclusive of accommodations, meals, experiences, etc.).
I want to stay small (no more than 35 properties), so I can market myself as a boutique firm to both guests and owners, offering a totally personalized experience.
Next, we’re going to build both a complete marketing strategy and create several marketing campaigns for AER...together!
Isn’t that exciting?!
You’re shaking your head no, aren’t you? Well, I’m a little hurt, but I get it.
Marketing is often seen as the red-headed stepchild of business.
You know you’ve got to do it, but you really don’t like it. You’re too busy. It pulls you away from more important things. It’s not the main focus of your business.
But what if I told you that your business actually IS marketing?
You’d say, “No, it’s not. My business is vacation rentals.”
Well, yes, but....
How do you get those heads in beds?
How do you find new owners and new properties to represent?
By marketing.
You probably think that your marketing is your website, the ads you put out and your email sequences.
In reality, it’s so much more than that. It’s a hundred things every day that you don’t even think about.
That conversation with an employee, vendor or guest? You’re a living representation of the company’s values and culture every time you interact with another person.
That email you send to a prospective guest with a question about a property? Your tone, the words you choose and whether you offer a solution or simply dial-in your answer are sending very clear messages about your company and how it values guest interaction.
When you’re out in the community, at the grocery store or out to dinner or even standing in line to renew your car registration, you’re still marketing.
Bet you never thought about it like that, did ya? ;)
That’s okay. Most people don’t.
I hope you do give it some thought, though. And once you do, I hope the natural next question is, “How can I make sure I’m always projecting the right tone and putting out the right message?”
I’m so glad you asked! That’s where a comprehensive marketing strategy comes in.
Oh, stop groaning. Yes, I hear you.
I know, I know. That sounds, well, complicated. And time consuming. And brain-hurting.
Well, yeah, it is. But you know what else it gives you?
Clarity.
Focus.
A roadmap.
Most importantly, it gives you a point of reference, when the lines between wrong and right are blurred and you need to make important decisions.
Because it tells you who your company is. It tells you what your mission, your vision and your values are. It provides a compass to help you find true north in all future decisions.
Yes, I did say who your company is. Make no mistake, your company is very much its own entity. It’s your job to make sure it’s properly cared for and nurtured so that it can grow big and strong and someday, take care of you.
You will lay out all that information in your marketing strategy so that it can provide you with a clear path going forward.
In the coming weeks, we’ll be going into some detail about the steps needed to create a comprehensive marketing plan. Right now, I bet you can guess what the first step is.
Defining who your company is. We define who our company is by identifying three things: our vision, mission and values.
Vision is defined (by HubSpot.com) as “describes where the company wants a community, or the world, to be as a result of the company's services.”
Example: Alzheimer’s Association vision statement is “ A world without Alzheimer's disease.”
Mission is defined (by HubSpot.com) as “the roadmap for the company's vision statement. It clarifies the "what," the "who," and the "why" of a company.”
Example: Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
Values are defined (by CrewApp.com) as “the fundamental beliefs upon which your business and its behavior are based….the guiding principles that your business uses to manage its internal affairs as well as its relationship with customers.”
Examples: .Whole Foods
* We Satisfy And Delight Our Customers -- Our customers are the lifeblood of our business and our most important stakeholder. We strive to meet or exceed their expectations on every shopping experience.
* We Promote Team Member Growth And Happiness -- Our success is dependent upon the collective energy, intelligence, and contributions of all of our Team Members.
* We Care About Our Communities And The Environment -- We serve and support a local experience. The unique character of each store is a direct reflection of a community’s people, culture, and cuisine.
* We Practice Win-Win Partnerships With Our Suppliers -- We view our trade partners as allies in serving our stakeholders. We treat them with respect, fairness and integrity – expecting the same in return.
To keep things simple, let’s just refer to this section as the VMV.
What is the VMV of Alissa’s Experience Rentals?
VMV for Alissa’s Experience Rentals
Vision Statement: A shifted paradigm in which groups, families and friends appreciate and support the superior value of a shared vacation space, with access to all the comforts of home and planned access to new experiences and adventures.
Mission Statement: To offer affordable and inclusive vacations that provide new experiences, adventure and lifelong memories.
Values:
* Our employees are the lifeblood of our organization. They are treated with respect, courtesy and integrity. We offer them all opportunities proportionate to their goals and abilities. We have their backs.
* We are grateful for each guest’s decision to stay with us when they are so many options available. We honor that gratitude in every guest interaction by listening without agenda, giving each guest 100% of our attention and effort and remaining committed to providing a consistently excellent experience.
* Our clients allow us the privilege of managing their homes, one of their most prized possessions. We honor this privilege by maintaining each home to pre-determined standards of excellence, addressing any issues promptly and keeping open lines of communication.
* We live in and care deeply for our community and support all initiatives to recognize and support local businesses.
* As stewards and ambassadors of our local community, we fully support all available green initiatives and environmental protection in all its forms.
Okay, this is our initial VMV statement. What do you think? I’d love to hear your thoughts.
Next up is a marketing audit. This is where you get to spy on your competitors (and yourself) to find your best areas of opportunity and start planning the marketing attack!!
Till next time.