We spend a lot of time analyzing who our target vacation rental guest is. We want to know what region of the country he lives in, when she usually books vacations, where they like to spend their summers.
What have we found? Well, he could live anywhere in the country, but a huge number of our guests live within driving distance (think: five hours away or less.) She could book a vacation a year in advance, but increasingly people are taking more spontaneous trips and booking closer to arrival date. It's a fact, though, that they ALL like to spend their summers on Isle of Palms.
We can market directly to these potential guests in as many creative, effective ways as we want to. Sometimes, though, the universe gives you a gift that makes things just a little easier. In this case, that gift is lower gas prices.
According to gas price service GasBuddy and motor club AAA, the country's lower fuel prices are leading more Americans to take road trips this summer than they have in the last several years. More than 75 percent of those GasBuddy surveyed said they would be traveling this summer; 79 percent of those people said they would be doing so by car. Over half of the people AAA surveyed said they are more likely to take a road trip this year due directly to lower gas prices—nearly a dollar less per gallon than the 10-year average for the start of summer.
So how do lower gas prices affect vacation rentals? Well let's look back at our target renter. If he or she is considering a summer getaway, the low gas prices might be the thing to push the decision over the edge. Why not take a four- or five-hour drive to Charleston? (Here are 9 particularly good reasons to do so in June.)
Now, that's not to say that low gas prices are the only reason people are deciding to come for an IOP vacation. There's also the stunning views, drool-worthy food, and Southern hospitality that the area has to offer. But if you've been waiting for that one sign to buy a vacation rental or put your second home on the vacation rental market, let low gas prices be that sign!
Don't just self-list your rental property, though. After all, you want as much power as possible pushing your property out to people all over the place—specifically those who are within driving distance, as they're the ones who are most excited about the lower gas prices.
Our marketing department is constantly hard at work crafting email campaigns, social media posts, and web content to drive potential guests to book Island Realty properties and then make the drive here themselves! We are reaching people in key locations like Atlanta (five-hour drive) and Charlotte (three-hour drive) with targeted print media placements.
So keep this in mind: when you use Island Realty as your property manager, gas prices being low means bookings are HIGH!
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