At this point, you should have a good idea and overview of how
VRconnection can help you better manage and administer your rental
reservations. But VRconnection doesn't stop working for you after you have
refunded a security deposit and closed out a
reservation. Each inquiry and transaction that is handled is archived,
so that VRconnection can provide a whole host of analytical tools to
help you better measure and analyze the success of your rental endeavors.
Analyzing Marketing Performance
Each VRconnection property has it's own 'Performance Analysis' area
which details various aspects of how well the property is performing.
The first page lays out performance metrics regarding the marketing
of the property on the VRconnection and affiliate websites. A tabular
display (see image right) details various categories of activity
regarding your property including the number of views various pages
of the listing are receiving, how often the listing is being displayed
in the browse and search results on the VRconnection website, and
the number of e-mail and phone inquiries being generated as the result
of that marketing effort. Two columns of data are presented: the first
displays the current month of activity, while the second shows
totals since the listing was activated. Clicking on arrows at the
top of the month column allows you display previous monthly tallies.
Below the tabular display, two historical graphs are presented to
highlight the annual trends for several key metrics (see image to left).
The top graph maps out the listing view activity over the past 12 months.
Through the graph, you can see how interest in your property rises and
falls throughout the course of the year. Below that, a similar graph
maps your inquiry performance across the same time span. A complete
accounting of your previous years marketing activity is captured in a
single screen, allowing you to better target your peak and off seasons.
Inquiry/Booking Stats
A second page under the 'Performance Analysis' area breaks down your
inquiry activity in even more detail (see image right). One of the
strengths of the VRconnection approach to vacation rental management
is it's ability to work with inquiries that you get from anywhere, not
just those generated through our own extensive marketing efforts. Our
innovative 'Offer a Reservation' procedure
can be manually initiated to handle inquiries you receive elsewhere and
can even be
connected directly to over 50 alternate vacation rental advertising services.
Whenever an inquiry is added to the system, the source of that inquiry
is noted within the transaction, allowing for a very thorough analysis
of where your inquiries are coming from, and more importantly, which
of those inquiries are converting into bookings. Two pie charts and
an extensive month by month table detail this information. A single
click of the mouse can adjust the time frames of the analysis (all time,
last 12 months, this year, last month, and this month). The table
displays your conversion rates month by month and can be rearranged
to instead group by inquiry source. This wealth of information can give
you excellent insight into which advertising is working for you, allowing
you to spend your ad dollars much more effectively.
Rental Stats
A final page of the 'Performance Analysis' breaks down your actual
rental statistics. This tabular display (image to left), gives you an
excellent understanding of how your rental is performing financially.
The table details your occupancy levels, average stay length, income,
and average nightly rates. Data can be categorized by year, month,
and inquiry source. Armed with this knowledge, you can better understand
how your rental performs month to month, allowing you to better price
your peak times of the year and discount your slower periods.
All in all, the data presented under the 'Performance Analysis' section
helps you to refine your approach to all facets of your vacation rental.
From choosing the most productive advertising vehicles to pricing your
rental appropriately, VRconnection has all the bases covered to make you the
best vacation rental by owner you can be.
Well, that's about it (or at least enough to give you an idea of what
VRconnection is about). If you like what you see,
click here to list and manage your property with VRconnection.
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