As a property owner in the Short Term Rental (STR) space, you want to place much more of a focus on getting direct bookings. There are plenty of reasons for this. Here are some of the top reasons to go for short term rentals direct bookings over third party bookings.
Reasons To Go For Short Term Rentals Direct Bookings:
1. More Profit
One of the main reasons you should look at focusing more on direct bookings is the profit potential. You will get a lot more profit by having your customers book direct. After all, you won't have to pay out commissions to third-party sites. These third-party sites can steal a lot of profit out of each rental. You have to pay for these leads. By getting people to book direct, you can cut off the middle man which can save you a lot of money. While they do provide a valuable lead service, you can generally make more by focusing more on getting your customers and not paying out hefty commissions.
2. Better Retention
A big problem with a lot of third-party sites and relying on them is not being able to effectively re-market to them. They are the third-party site's customers. Because of this, you don't have access to their contact information and other important data. This results in you not being able to re-market to them. Being able to market to past customers is extremely important when you are looking to retain them. You can achieve much better retention by going more for direct bookings over third-party bookings.
3. Get Reviews
One of the primary things a lot of people look at when they are trying to figure out who to rent from is reviews. Your mission should be to generate more reviews for your properties on various review sites. You will end up getting a lot more reviews by getting people to book direct. After all, you have their contact information which you can use to ask for feedback. This can get you a lot more reviews on your website and various other review websites that you can leverage in your marketing efforts.
4. More Control
Another good thing about doing this is the fact that you retain so much control over the booking process and the rental. When you have customers booking through a third-party site, you lose a lot of control. This can lead to various negative outcomes. For one, they can have a bad booking experience. This isn't only going to impact the customer's view of the third-party site, but also your property. If they have a bad experience because of the booking site, it's likely going to fall on you. Also, the booking site has more control over how your rental is presented. This means you cannot position your rental in a way that is best suited for your interests. The lack of control is very unappealing.
Overall, there are plenty of reasons to consider using third-party sites, but there is even more reason to make the move towards direct bookings. Focusing more of your energy and efforts on direct bookings can give great returns.