Businesses rise and fall. They may soar high in the skies or may drop dead to the ground. All depends on their strategies. Very few times it is because of simple plain ol’ fate that makes them fall. But a business doesn’t just fall overnight. It just faces a time of hardships and such circumstances, which threatens its progress or its very existence. Proper strategy and careful planning can make these businesses go through these businesses and come out the other side successful. And lack of such things can prove disastrous.
Some businesses don’t usually have to go through such ugly-weather-of-hardships kind of condition. But others have to deal with at least some months almost every year. The rental business is no exception to such issues. For example, people tend to visit certain places only during certain seasons. Like cold places are visited only during the summer season by people to relieve themselves of some heat. The rental spaces at those places don’t get people during cold because of extreme weathers, road blockage due to snow and the fact that the people don’t have to visit cold places if it is cold enough at the places they are living.
So these rental spaces get to see quite a few amounts of life during low season. But, this situation can be made better by the steps and tips I’m about to list down below.
1. Identifying your Low Season
The reason for the low season is different for every area. Each rental business needs to identify what it’s low season is and what the causes are. Each area and rental space can have a different reason. In some areas, weather can be the culprit; while in others, it can be due to the lack of festivals for several months and the list goes on. Identifying the low season and the reason behind it is the first step in doing something against it.
2. Who Visits Most During Low Season?
A good business keeps a log of everything. It keeps itself known to what strategies are suiting, what clients visit the most and what seasons are most reasonable for business etc. A vacation rental space should keep a record of what type of people visit during the off seasons. The best way of keeping a detailed data is to use any of the best vacation rental software out there. The data can be different for different areas and different kind of rentals. Based on the data, you can make certain changes to further accommodate and attract those types of people.
3. Variable Prices for Different Circumstances
People love discounts. During low season, lowering the prices a little can bring the number of bookings considerably higher. If in any case, you do feel like lowering the rates isn’t going to improve the bookings, put some money into advertising your discount offers. It sure will bring good fortune to you.
4. Engage the Workdays
Weekends are comparatively busier than the weekdays. In order to fill that gap, introduce offers specifically designed for the workdays. This way, people on a budget are likely to go for weekday offers and your bookings will improve.
5. Offer More
If for some reason, you can’t reduce your prices, you can always do additional offers which provide more to the customers without increasing the price. The idea is to offer additional services at the same prices. People crave for such deals.
6. Keeping in Touch
Had some regular customers which don’t visit anymore? Contact them by sending a nice, professional message and telling them about the ongoing offers. If you’ve established goodwill with them, they’d most certainly consider visiting you again.
However tough a business is, how desperate the times may be, all can be made better by careful and calculated decisions.