Net Promoter Score (NPS) is one of the most powerful tools to measure customer satisfaction and a company’s health. It’s a crucial metric for any business, especially in hospitality. But what is NPS exactly and how are large property managers applying it now.
It can cost 5-10 times more to acquire a new customer than to retain an existing one. Adding to the mixture, 70% of people that stay in a vacation rental do not remember who they stayed with! So implementing loyalty programs is a crucial opportunity and here’s all you need to know to apply one.
In today’s competitive market, a strong Public Relations strategy could be the one asset that makes your vacation rental brand stand out. We asked the vacation rental PR pro, Jessica Gillingham about the impact of PR on rental businesses, how to approach journalists and which publications professional managers should focus on.
Have you noticed the increase in vacation rental mergers and acquisitions over the past year? The consolidation of property management and technology companies is underway, and it’s happening quickly. Check out these 7 recent deals that will transform our industry.