At this week's gathering of vacation rental managers at the Annual VRMA conference in Phoeniz, AZ, FlipKey COO Jeremy Gall discussed Google's "Zero Moment of Truth" and how to win it in the context of optimizing a vacation rental guest's experience throughout the entire booking process. You can learn more about his presentation here.
In the meantime, we've been learning more about ZMOT's concept to "Manage With Bids, Not With Budget." Essentially, it calls for suppliers to "open your budget" by figuring out your profit point and so you can "uncap your budget."
This concept recalls how we often advise clients to consider their ROI when evaluating their monthly BookingSense pay-per-lead budget. In response, many clients have chosen to remove their budget limit altogether; with it, we've seen that these clients are also removing the limit on how many interested travelers can contact them and can then be converted to "heads in beds."
We're happy to run a quick analysis to help you determine you "profit point" to see if this kind of budgeting will benefit your business. For now, a bit more information from ZMOT: