Showing posts with label timeshare marketing. Show all posts
Showing posts with label timeshare marketing. Show all posts

TBMA Continues its Focus on the Future of Legacy Resorts

6/10/2015 Unknown
At its upcoming fall meeting, the Timeshare Board Members Association (TBMA) will continue its focus on helping legacy timeshare resorts to successfully compete in the ever changing timeshare market. TBMA invites Board Members and Onsite Resort Managers to attend the meeting October 25-27 in Denver for an update on all the changes, challenges and solutions under TBMA's program, Timesharing 2020 - Creating a Vision for the Future of Legacy Resorts through Strategic Planning.

TBMA, a non-profit association, is dedicated to helping provide technical, organizational and moral support to directors of owner controlled timeshare boards. TBMA provides a forum for the exchange of views, and offers support, informational resources, and assistance to all association members in carrying out the responsibilities of the HOA.

TBMA Fall Meeting Offers Needed Insights

The October 25-27 meeting in Denver offers some needed insights from industry experts during an impressive agenda of educational panels. HOA Board Members will join in the discussions to add their detailed knowledge about running a timeshare resort, and establishing and implementing policies and procedures. 

Key Issues in Educational Sessions

Here are a few of the key issues that will be featured at the fall meeting:
  • Sunset Clauses - governing documents that call for expiration of the timeshare plan, and disclosure issues relative to those sunset provisions that affect resale.
  • Vacation Clubs - their impact on control of a resort and how they can help generate revenues from non-performing owners' association controlled inventory.
  • The Evolution of Marketing - a study of ownership preferences for new and younger buyers, and marketing strategies to reach them.
  • Creating and implementing property-improvement plans for refurbishing and reconstruction projects.
  • Evaluating your resort's financial health.
  • Monitoring a resort's public image, dealing with transient guests, and utilizing social media.

Special "Meet and Greet" session on Sunday

Board Members and on-site managers will get a chance to meet fact-to-face on Sunday prior to the start of the educational sessions. This is a good opportunity to discuss common interests and exchange contact information. More networking opportunities are scheduled throughout the sessions.

Membership and the meeting is free


Membership in TBMA is free and there is no registration fee for board members and resort managers to attend the TBMA meetings. Join at www.tbmassoc.org RSVP for the Denver meeting to resorts@tstoday.com

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Now May be the Perfect Time to Market to Baby Boomers

6/11/2014 Unknown
With all the talk about millennials, you might be inclined to ignore the baby boomers - but don't. Those 76+ million boomers in the US are still one of the most viable sources of timeshare buyers. Why, you might ask? The reason is because they like to travel and they have the money to do so. Timeshares are appealing to boomers because they offer all the things boomers want in a travel experience - affordability, flexibility and quality.

Baby Boomers are Pre-Qualified

Baby boomers have disposable income. Instead of choosing to retire, many have chosen to keep working or at least work part time, and those who have retired have money to spare. True to their strong work ethic and "live to work" reputation, some 49% of baby boomers are still in the work force and don't expect to retire until age 66 or older. Those that have retired have planned well for their retirement time and have money to spend on travel. According to industry research, boomers spend $157 million on trips every year. And you don't have to convince them of the benefits of travel - baby boomers already view travel as a necessity not a luxury. In fact, in most travel polls, boomers rank travel as their #1 activity.

Timeshares and Boomers--a Perfect Match

Accommodations
Boomers favor luxury and comfort, and they are willing to pay for it if you can deliver. They like what a timeshare can offer, such as spacious accommodations with room for multigenerational family vacations. The "home away from home" atmosphere is attractive to boomers because convenience, comfort and added space for family is important. 

Variety IS the Spice of a Baby Boomer's Life
Boomers want flexibility and choice in their travel. The vacation options of timeshare are attractive to boomers. The ability to have flexibility in choosing when they want to travel and where - numerous choices of locations throughout the world - are all appealing to boomers.  They like the convenience of the "all inclusive" resort where food and drink is covered and where they will have plenty of activities to keep them occupied, because baby boomers are healthier and in better shape than their predecessors. They do not think of themselves as aging. According to Phil Goodman, co-author of Boomer Marketing Revolution, "Boomers will always try to act younger than their chronological age. As a result, they may want to fulfill the dreams they had when they were 25 even if their bodies aren’t willing." So bring on the adventure travel, but don’t forget the spa!

Aware of Cost
Raised by parents who encouraged savings accounts, baby boomers want to know that they are getting their money’s worth. They like a good bargain and timeshares fit the bill, particularly for longer stays. The cost of staying in a timeshare for 2-3 weeks or more, is far less than it would be at a typical hotel or resort. Advantages such as exchanging, the option of renting, and last-minute bargains, all make timeshare more cost-effective to boomers. 
The timeshare industry has always welcomed baby boomers, but now more than ever, may be a good time to get that welcome mat out again.
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Reaching Millennials... the Next Generation of Timeshare Users

3/26/2014 Anonymous

Millennials Defined

The Millennial generation has been extensively researched and referred to in many different terms.  Millennials born after 1980 and into the early 2000’s (more precisely 1982-2000), are also referred to as “Generation Y” coming after Generation X as they do.  They currently range in age from 18 to 33.
Millennials have been called the “Me Me” generation.  They were raised in economic prosperity and often given unlimited praise for even the smallest accomplishments (sports trophies for everyone on the team!). Then one of the most severe economic recessions in decades left them unprepared for life's challenges. That initiated yet another title, "The Boomerang Generation," because economic conditions forced many to move back into their parents homes after college as they struggled to find a job.

Millennials are also thought of as open-minded, confident, positive about the future, and supportive of equal rights. They value education, achievement, teamwork, and if they find the job that makes them happy, they will be a loyal employee.  Millennials are also civic-minded and supportive of the community (which just might make timeshares attractive to them!).

Millennials Have Grown-up on Technology

Millennials have grown up on technology. It permeates every aspect of their lives and they are never far from their devices. A Pew Research study on Social & Economic Trends concludes that "Millennials are digital natives, the only generation who has never had to adapt to these new technologies, they grew up with them.  They are the most avid Facebook users; 81% of Millennials are on Facebook, where their median friend count is 250, far higher than that of older age groups; 55% have posted a "selfie" on a social media site, a far higher percentage than any other generation."

The Chicago Metro Association for Education, says Millennials accessorize with gadgets, most likely sleep with their cell phones, and build relationships through sound bites in 140 characters or less. They are excellent multi-taskers and expect responses in real time.

Technology… the Best Way to Reach Millennials

The Millennials are just as capable of appreciating a good vacation opportunity as the next person, but a smart marketer will have to be willing to do the research and meet the Millennials on their own terms.  As mentioned above if you can make them happy they will be a loyal to you, and they will share what they like with their many friends and anyone else who will listen to them.

Use all Technology Tools

Obviously with individuals that are so attached to their devices, the best way for timeshare marketers to reach them is through their devices. Use all of the social media tools: Facebook (81% of Millennials are on Facebook), Twitter, Instagram, Pinterest, (55% post selfies on social media sites), LinkedIn (many are still looking for jobs to pay off those college fees) and smart-phones (some of them sleep with their phones).
Don't forget the value of mobile apps. In August of 2013, Marriott launched a mobile game app designed to attract the Millennials. Xplor lets players virtually visit five gateway cities, take sightseeing challenges, solve trivia questions, and puzzles, and compete to win Marriott Rewards points. Said Marriott Human Resources Officer, David Rodriquez, "If you look at demographics, Generation Z and Y together will absolutely be an extraordinary part of our business. If you are not resonating with that generation, your business will decline." The app can be downloaded for free at the App store.

What’s in it for Me?

Remember the "Me Me Generation"... Millennials want to see what direct benefits they will get from a product. They appreciate honesty and expect marketers to be upfront about their product. In terms of timeshare marketing, tell them about all the benefits and the value of a timeshare, but make sure you can back it up. They want conversation and feedback, but make it quick (remember they build relationships through sound bites in 140 characters or less!)

Allow for Adaptability

Don't forget the Millennials may be the first generation who may not make as much money as their parents. They often are burdened with debt from college fees and other life expenses. They may not yet have that job that maximizes their earning potential.  And there will be a lot of competition for their business! (42% of Millennials consult four or more services before making a purchase.) Millennials are not willing to take on significant debt even for something as fun as a timeshare. Timeshare marketers must be adaptable. Find ways to enhance your offering such as: maintenance fee guarantees, or short-term or yearly terms, stress the value of exchanging, flex-time and points. Remember Millennials are our first digital natives.  Speak to them in their own language, the one they grew up with!



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How Timeshare Marketing Has Changed

2/12/2014 Unknown
The marketing of timeshares has changed greatly over the years. No longer do timeshare buyers have to expect the dreaded hard sale in the timeshare marketing pitch. Overall, the sales approach is softening. More people “get” the timeshare concept and are now out to compare the options and offerings of various timeshare companies. Like a car sale, marketers don’t have to describe the car to a potential buyer, they just need to tell them about the best features of the product.

More Bang for the Buck

Today’s timeshare marketers need to convince new buyers that their product offers more value for the money. Second home buyers understand that it is better to be part owner in a home that is only used 1-2 weeks per year. They also like the idea that timeshares come free of maintenance responsibilities, have all the comforts of home, and are located in some darn good locations! And they “get” that timeshare ownership makes their lives easier by eliminating the time and often stress of planning a vacation. Now, what they want to see is the extra value a company is offering over the competition. Buyers in today’s economy of rising costs and eroded discretionary income want every dollar to count. What’s a timeshare company to do?

Fly-Buys, Mini-Vacs

As the saying goes, "Seeing is believing" and timeshare sales and marketing teams know that the best way to sell their product is by letting prospects experience it. Some timeshare companies offer a vacation at their property at a low price, but with a "hook" (contingency) that you attend a 90 minute presentation on the property that includes a sales pitch that may be high pressure. Other properties may offer a vacation for a price below the rack rate with "no-hook" (no contingency), in hopes that just experiencing the property’s wonderful location and amenities will persuade you to buy.
Positive reviews posted by vacationers can have a big effect on potential buyers and can overcome reluctance to try a timeshare. Here’s one of many positive reviews for Villa Del Palmar Beach Resort & Spa in Loreto, Mexico posted by Les on Travel Advisor: 

"The Villa Del Palmar had a timeshare offer that I reluctantly took since the price was fantastic. Wow! What an incredible resort! The staff made you feel like you were the most important person there and with the all-inclusive you just don’t have to pay attention to what you are ordering or drinking. The food was great and the margaritas just kept coming. One of the best vacations we have taken in quite a while. There are hiking trails that lead to secluded coves and make us feel like we’re on our own private beach. I highly recommend this property! All the rooms are ocean view. I don’t think there is a bad one in the place."

Off Property Contact

Although Off Property Contact (OPC) is still popular in some areas -- particularly at ski resorts, and in the Caribbean, Mexico and Spain—it is developing more sophistication with real concierge type services being offered. The tactic uses salespeople to operate off property (such as at a kiosk in a tourist area), who offer vacationers already in the area an incentive to tour the resort. Who wouldn’t enjoy free lift tickets, zip-line tour or bay cruise! 

Marketing Aids

Analytic Data

The digital age has hit the timeshare industry big-time. Timeshare marketers no longer need to rely on their gut instincts to determine why some timeshare and vacation ownership marketing works and some doesn’t. Now they have "analytics" (real time data that aides sales and marketing centers in being as profitable as possible) just as many Fortune 500 companies are using. According to a Wall Street Journal report, "Timeshare Software TrackResults Software has permanently changed the way timeshare developers process their sales data. Through the state-of-the-art real-time analytics software that TrackResults has developed, sales and marketing centers are able to better hone in on exactly what is effective when it comes to landing sales."

Internet Marketing

For resales and for timeshare rentals, the internet has become a more than viable way to market. Online timeshare resale can either be by a licensed broker or by “For Sale by Owner.” A broker can help you through the sales process and may have access to more potential clients. “For Sale by Owner” helps to save money by eliminating the broker fee and giving the owner 100% of the proceeds.
Companies that rent timeshares like RedWeek make it easy for an owner to rent out their timeshare. Owners are able to create their own postings and interact privately with travelers, while vacationers can peruse the websites’ offerings in the comfort of their home, compare prices, read consumer reviews and evaluate which resorts best fulfill their vacation needs.
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