Effective Marketing Approaches for Serviced Apartments

Nikka Sulton

Effective Marketing Approaches for Serviced Apartments

Crafting an effective marketing strategy is crucial for serviced apartments aiming to thrive and surpass competitors, ultimately enhancing profitability. Explore methods to attract guests across various stages of the marketing funnel, from building awareness to encouraging consideration and driving purchases.

The rising popularity of serviced apartments attracts guests seeking hotel-like comforts while maintaining their privacy. To stand out among the competition and increase profitability, it’s crucial to enhance your marketing strategies for your multiple properties in town.

Travelers increasingly opt for serviced apartments instead of traditional hotels, a trend particularly pronounced in the surge of business travel. Recent data indicates that in the UK, serviced apartments boasted an average occupancy rate of 81% in 2016, surpassing hotel room occupancy rates at 77.2%. Success in this market hinges on effective management and strategic marketing of serviced apartments.

Why are serviced apartments preferred?

The future of serviced apartments looks promising, with an increasing preference from travelers due to the advantages they offer over hotels. Serviced apartments, designed for more extended stays, stand out with their spaciousness and inclusive kitchen facilities, catering to guests seeking accommodation for weeks rather than just a few nights. In comparison, hotels, constrained by limited space, often lack the roominess and extensive kitchen facilities that serviced apartments provide.

What are the amenities and facilities in a serviced apartment?

Understanding the amenities and facilities offered in a serviced apartment is essential before delving into marketing strategies. Identifying your core strengths plays a vital role in the hospitality business.

Spacious rooms
Fully furnished kitchen
Regular housekeeping
Free Wi-Fi
Access to the swimming pool in society
24*7 security (CCTV, guards, app-based security system)
Entertainment facilities (Smart TV, society’s clubhouse, garden area)
Centralized air conditioning
Attractive interiors
Power back-up
Water purifier

How to market serviced apartments?

Having identified your property’s unique selling points (USPs), it’s time to effectively promote them to your guests. Without further ado, let’s explore some proven strategies for successful marketing of serviced apartments.

1. Identify Your Target Audience

An essential step in any marketing strategy is identifying your target audience. Interestingly, around 80% of marketing content is often directed at the wrong audience, leading to wasted efforts and expenses. For serviced apartments, there are four key guest segments to focus on:
Families seeking a homely environment for an extended vacation.
Corporate employees on prolonged business trips.
International guests in search of temporary accommodation.
Individuals relocating to the city and in need of short-term housing.

Since the pandemic, many organizations have embraced the work-from-home (WFH) policy. Consequently, numerous corporate employees now seek the convenience of serviced apartments to escape domestic chores during their extended stays, which can range from a week to a few months. Targeting this demographic could prove beneficial for your serviced apartment business.

2. List on online booking platforms

Online Travel Agencies (OTAs) have revolutionized the way people book properties. It’s essential to register your serviced apartment on these platforms to tap into a global customer base.

Several OTAs now cater specifically to certain niches. For instance, numerous websites specialize in facilitating bookings exclusively for serviced apartments. Some well-known examples include:

TripAdvisor Vacation Rentals
Rent a villa
Couchsurfing
Blueground
OneFineStay
Quest Apartments
Agoda Homes

In addition to these, consider listing your property on local real estate websites and other popular OTAs like Airbnb, Booking.com, and Go-MMT to expand your reach and attract a diverse range of guests.

3. Establish connections with corporate organizations

As mentioned earlier, serviced apartments are highly favored by business travelers and professionals seeking extended stays.

To capitalize on this opportunity, consider forming strategic partnerships with IT firms, MNCs, BPOs, KPOs, and other companies implementing work-from-home policies for their employees.

A key aspect is to offer a flexible tariff structure that benefits both your serviced apartment business and the partnering organization. Introducing corporate rates, such as weekly and monthly tariffs, can be advantageous for this guest segment.

Additionally, corporate organizations often have recurring projects and business meetings, making them an ideal target audience for your serviced apartment marketing strategy.

4. Invest in a website

Having a website is crucial for any hospitality business, and it can set you apart from the competition.

For serviced apartments, a well-designed website creates the first impression on potential guests. Engaging content and high-quality property photographs are essential to capture their attention.

Consider investing in a user-friendly website builder that allows easy updates, and ensure it is optimized for improved conversions. Once your website is ready, link it to your Google My Business listing and your serviced apartment’s social media pages for better visibility and reach.

5. Social media pages and groups can do wonders

Social media platforms have transformed from connecting friends to generating business opportunities. Countless businesses now have a strong presence on these platforms.

Facebook, for instance, offers a dedicated ‘Marketplace’ feature for business-minded individuals. If you haven’t already, create a page for your serviced apartment on social media platforms immediately.

Moreover, being active on social media allows you to stay connected with various city groups. When people plan to move to new cities, they often search for accommodation in real-estate groups, such as flats and flatmates in Mumbai, serviced apartments in Delhi, New York homes, flats, and PGs in Bangkok.

By posting about your serviced apartments in these groups, you can effectively capture potential leads.

6. Partner with other businesses

The market for serviced apartments is highly competitive, with numerous options available to customers. Aparthotels must distinguish themselves from the rest by offering exceptional services. Collaborating with other businesses can be a fantastic strategy to attract new customers.

Indeed, partnering with other businesses is an excellent advertising idea for apartments.

By joining forces, businesses can run more extensive and more cost-effective promotions. If you apply this approach to your serviced apartment, you can streamline your marketing efforts, save time, and reduce expenses on individual promotions, resulting in a more impactful and successful marketing campaign.

CONCLUSION:

The popularity of serviced apartments is on the rise due to their luxurious and comfortable “home away from home” appeal, resulting in a surge of properties worldwide.

Yet, many of these properties struggle to attract guests’ attention. To avoid facing a similar fate, take immediate action and begin implementing these effective serviced apartment marketing strategies for your property today.