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Marketing, promotion, and advertising

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The forecast costs for marketing, promoting, and advertising your recreational property will depend on your decisions regarding marketing strategy and budget, and, of course, your decision about using a rental agency or not. If you have chosen to use a rental agency, you will not need to consider the costs of marketing, as that will be done for you. And if you have selected a rental agency that actively markets its properties out-of-season, you have no worries at all on this front. If you are going it alone, read Chapter 9, Marketing Your Vacation Home, which covers marketing in greater detail.

If you have chosen to do your own marketing, there will be up-front costs for a website, marketing literature, web advertising, and other promotion. Although you can allocate a figure for ad hoc advertising through the year, setting a marketing budget at the beginning of the year will help your bottom line and profit margin. Otherwise, it is all too easy to drift along month by month, registering here and there with different agencies and Internet advertisers, only to find you have overspent badly and received insufficient return on your marketing investment. Play with the figures until you settle on a sensible figure for marketing. Then decide how best to spend that budget.

Renting Your Recreational Property for Profit

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