Welcome to Boostly Podcast Season 11 Episode 45. This is a recap of my Facebook live video where I talked about VRBO’s 2021 Consumer Travel Trend Report.
Here's the audio for this episode:
Here's the video for this episode:
Timestamp
00:00 Start
02:15 Stat from the VRBO consumer report
03:45 Revenge travel is coming
04:35 What you can do in your marketing
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Audio – Boostly Podcast
Transcript from the Episode
In today's episode, I wanted to just dig into a stat from the VRBO consumer report. So this is the consumer travel trend report that VRBO put out for 2021. And there's one thing that really stuck out for me. So number six on the list, and you can go and find it by googling the report travel trend report, but everyone wants a vaccine to over a more family time. So let's just quickly go for it now. Travel FOMO fear of missing out was at an all-time high in 2020. Rather than scrapping a cancelled trip completely, families want to make up for lost time. According to VRBO 54% want to redo their cancelled vacation plans of those who had a trip cancelled due to COVID 44% of rescheduling. And 31% say the main reason they want to travel is to spend quality time with family and travel, actual bookings and the inquiries that are coming in and matching this as well.
People like Guesty and Uplisting and Wheelhouse and all those fantastic companies that provide an actual data based on bookings is that what is happening is that they're getting more bookings, as in bigger bookings for bigger properties. And what's happening is that people are booking for a longer period of time. So this is really interesting, because I know that people that have got large properties have obviously suffered massively during these big heavy lockdowns because of restrictions and how many people can be in a property at once, etc.
Revenge travel is coming
But the plus side is that the bounce back and revenge travel is definitely coming for you. So again, what you're finding is that families as in brothers, sisters, or siblings, parents are looking to really get together. So if you've got big properties, this is the time now to amend your marketing and really focus on the fact try and have it where right now as I say we're looking this has been recorded obviously April. try and do it where June so July, August, September, Northern Hemisphere peoples of the summer holidays, try and have it where you're boxing off for at least a week, maybe even two weeks, like really have that minimum stay and go strong on it. And box off to a minimum night is like at least 10 nights for a night because people are going to be doing that people want to get family together and they all want family in their house. They want to get together.
What you can do in your marketing
So how can you change your marketing? How can you change your minimum stay? How can you amend it all to where you are available. And it's available for someone to stay from be two weeks at a time, maybe even three weeks at a time again, by doing this and by being strong on it now is that what will happen is the inquiries come in when someone does a search on your website, on an OTA, for example, then they will see that big block gap of two free weeks, which will make you more appealable.
Now, also as well don't rule out this is the Airbnb a favor and month long stays at the moment, you know. So whack it up to a month, put a bit of a discount on there, amend your prices accordingly, get creative, this is the time to get creative. Don't just sit in new ways of where you were pre COVID. This is a post COVID world now that we are living in. So the marketing on your website will change the wording on your website will change. The social media posts that you put out will change. And this is the time especially for people with large properties to plan accordingly.
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