Maximize Bookings: A Deep Dive into Short-Term Rental Listings Optimized for Conversion

Unlock the secrets to increasing bookings with your short-term rental listing by leveraging scientific insights on consumer behavior and decision-maki

Hey folks! Today, we're peeling back the layers on something we all think we know but could understand better—your short-term rental listing. It's not just a placeholder; it's a critical piece of marketing. So, let's get nerdy and infuse some hospitality science into our strategy to increase our booking conversion rate.

Hold on, conversion rate? If you're new to this lingo, no worries! In marketing, a "conversion rate" is the percentage of visitors who take a specific action—in this case, going from viewing your listing to actually making a booking. Simple as that!

The Science Behind Consumer Choices

According to a study published in 2022, there are three critical tiers—let's call them "decision points"—that drive potential renters to pick a short-term rental. They tested 21 points and found that those points were grouped into these 3 tiers - and that these tiers are sequential. That means if you don't nail the first one, you're unlikely to even get a chance at the second or third. So what are these tiers and how do you leverage them?

Tier 1: Trust, Safety, and Fit

This is the foundation. If you can't instill a sense of trust, ensure the perception of safety, and make a potential guest feel like your place is the right fit, you might as well say goodbye to that booking. But how can you convey these elements through a listing?

Trust

Use high-quality, professional photos to represent your rental accurately. Keep in mind, the photos don't just showcase the space, but the experience they'll have in the space. And the selection of photos ALSO conveys a bit about YOU as a host. Put them in order, be thorough but don't include so many photos they are exhausted looking through. Keep in mind, there are subconscious assumptions being made about the experience they will have in your space and the goal is to influence those assumptions toward trustworthy and clearing Tier 1 turning lookers into bookers!
Add verified badges, if available, and encourage past guests to leave reviews - social proof carries a heavy weight with consumers.
Ensure your copy conveys who you are as a host! Funky, fun and chatty? Professional and committed? Focused on rule-abiding citizens? Chatgpt may produce nice copy, but prospective guests need to feel like they have a sense of who you are in regards to their stay. Make sure the copy reflects the experience they are likely to have; including with you as the Host. A long list of rules vs a description - something I've seen quite a bit, might work for some consumers but not most!
Don't skimp. A 3-sentence description and too-few photos will diminish that sense of trust faster than you can say "cancellation policy." Lackluster listings create doubt, make you look uncommitted, and can often send potential guests clicking over to your competition.
The search results say your place is $120 a night and, on selecting it, they find their 2-night stay is $678? This is also an erosion of trust - and remember, without building trust you don't get sales. The booking platforms are helping combat this on their end with more transparency, but Hosts/Managers have a role here as well to actually NOT nickel and dime prospective guests to death.

Safety

List safety features prominently—think smoke detectors, security systems, and first-aid kits.
Highlight accessibility - stairs? No stairs? Walk-in shower?
Be clear on location if its likely to be viewed negatively by some; Its better to set the bar where it belongs than try to hide the fact that the view is a junk yard - and get low reviews and requests for refunds. While you don't have to present it as a total negative its important to be clear about it
Make sure your space is ACTUALLY safe. Don't list 3 bedrooms if you thorough a bed in a basement without appropriate egress ( You can learn about that experience HERE)

Fit

Be as descriptive as possible about what makes your rental unique. Whether it's close to popular attractions or has a killer view, make it known.
Use targeted language that speaks directly to your ideal guest. If your rental is perfect for families, say so!
Include a floor plan if your place is large or the floor plan may be a bit odd - this will help with future questions but also answers this key question of where everyone will sleep and hang out!

Tiers 2 & 3

If you've read this far, you're already ahead of the curve. Applying this data-driven approach to your short-term rental listing will not only help you boost your conversion rate but also ensure you're attracting guests that are the best fit for your space. But this is just the tip of the iceburg for optimizing your short-term rental - so hang around for the next few blog posts!

Grab the Free Training!

I'm working really hard to share this knowledge with as many people as I can. I believe that folks who want to provide a great guest experience put in the effort - they show up, they self-educate. I'm offering to share my learnings from this recent journey into hospitality science and consumer behavior research - and how we can leverage what researchers have learned in our short-term rental businesses (and how I've already seen it working for me and my clients!) Grab the Free Training on Listing Optimization - its about 35 minutes! You can grab it HERE

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Hey Boss! I'm Kate, owner/founder of The CEO Host. If you are interested in taking a leap into short-term rentals - or have some questions about your existing business, my goal - passion, and career, is to help YOU succeed. I've coached hundreds of folks getting started or looking to optimize, analyzed more deals (and duds) than I could count, completed thousands of hours of education and training, attended conferences... So don't be shy. A good CEO knows to bring in expert help - and that's what I'm here for! Lets HOP ON A CALL and chat!

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Categories: : marketing, metrics