How to Explain Changes in Revenue and Bookings to Your Homeowners

Send us a message!In this episode, Alex & Annie are joined by a panel of experts to help guide you on a pressing topic - How to Explain Changes in Revenue and Bookings to Your Homeowners.2023 is not turning out to be as profitable as expected for vacation rental managers, and naturally this is causing quite a bit of turmoil for property managers, especially those who got into the business during the golden years of 2020-2022.That’s why today's Revenue Roundtable features Ben Coleman - Founder of Rev & Research, Vanessa Humes - Director of Sales & Marketing at InterCoastal Net Designs and Lance Stitcher - Broker/Owner at Seaside Vacations and Sales.Some of the great insights discussed in this episode includes proactive, data-driven communication with your homeowners, as well as the importance of making sure you’re pricing appropriately for 2023 instead of making decisions like it’s still last year.Whether you’re an individual property manager feeling the pressure of the current market, or a Vacation Rental company with hundreds of properties under management looking to safeguard your book of business - tune in to this episode to learn from our expert panel on exactly what steps to take to navigate the stormy seas of 2023 and beyond.HIGHLIGHTS: 00:00 Introducing Today’s Revenue Roundtable02:24 Setting Today’s Agenda - Revenue is Down, What To Do?04:30 How a Data-Driven Approach Is Becoming a Necessity in This Market08:42 Proactive Account Management is a Necessity & Homeowner Marketing Becoming a Priority13:25 The Value of a Strong Social Presence14:52 More on Proactive, Data-Driven Communication, and the Importance of Staying Ahead of your Homeowner19:10 Understanding Local Market Conditions and Pricing Accordingly20:10 Lance’s Approach to Educating Homeowners About Market Conditions22:13 How to Set Expectations for The Upcoming Fall Season24:16 Creating Demand as a Marketing Focus Point26:54 Data As The Ultimate Revenue Team Alignment Tool30:52 Ben’s and Lance’s Approach to Channels35:05 The Value of Proper Communication Within Your Team36:16 What Topics are Currently Underrepresented within Revenue Teams38:24 Lances Prediction on How Inventory Will Shift From Investments to Residential Properties40:30 Bens Predictions on How The Markets are Changing and his Strategy to Navigate What’s Ahead45:02 How To Get In Touch With Today's ExpertsThis episode is brought to you by Casago, Guest Ranger, and Good Neighbor Tech. Visit AlexAndAnniesList.com to view our top picks for the best suppliers in vacation rental technology and services. Special thanks to Rev & Research for being the presenting sponsor of Alex & Annie’s List.Connect with Ben:Website | LinkedinConnect with Vanessa:Website | LinkedinConnect with Lance:Website | LinkedinConnect with Alex and Annie:Alex Husner | Annie HolcombeAlexAndAnniePodcast.com

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