Presented by: TJ Mahony, Co-Founder and CEO of FlipKey.com pmaccounts@flipkey.com | +1.617.849.7010

The Conversion Experience: Deep Thoughts and Some Ideas

Consider the source of your business

New Repeat

…new customers are 5X more expensive vs. repeat customers

New Repeat

Source: White House Office of Consumer Affairs

Your Average Marketing Profile:

Bounces (30%)

Opportunity (60%)

Conversions (10%)

Source: kaushik.net

Opportunity (80%)

Great Opportunity (17%)

Conversions (3%)

Your Website Your Distribution Channels

The Researchers

It takes only 2.5 seconds for a user’s eye to land on the area of a website that will inform their lasting impression of it.

Source: sciencedaily.com

First Impressions Count…

On average, if a user can’t find what she’s looking for on your site in 8 seconds, she’ll look elsewhere.

Source: sciencedaily.com

TJ (me) estimates 98% of websites waste too much time over thinking their homepage

Source: FlipKey.com

Homepage, 15%

Sideways Traffic, 85%

Internal tests indicate >50% lift in high res professional photos

Source: National Federation of Retailers

Showcase your Product

20+ photos per listing

Detailed titles (i.e. “2BD, 1BA Beachfront condo in central Miami”)

2,000+ character descriptions

20+ Amenities

6+ reviews per listing

Harvest content from your travelers – their photos offer a non-generic look at your properties

i.e. Online retailer Threadless uses original photos of their staff wearing their product, in place of standard photos provided by their vendors

Source: searchenginewatch.com

All Top-Selling Cameras on Amazon.com: >12 megapixels

We all take photos on vacation … lots of photos

The Good!

Ever consider publishing profiles of the typical group that stays in each of your homes?

i.e. Altrec.com gives supplemental background about the fit of their product so customers can imagine themselves using it

Source: searchenginewatch.com

They Love the Content… now book em’

Studies indicated crossing out the higher price increase conversion by 15%

Source: searchenginewatch.com

Urgency Messaging: 20% reported lift

Perceived Time Investment

Conversion Rate

Tim

e In

vest

me

nt

Phone vs. Email Conversion

2x x

Outbound Conversions

Unfortunately most prospects email…

x 5x

Inbound Lead Volume

Phone Calls Convert More & Cost Less

Email Phone

Volume Per Prospect 3 2

Average Time Per Contact (Minutes) 2.5 5.0

Total Rep Time (Minutes) 7.5 10

Conversion Rate 10% 20%

Total Time Spent By Rep Per Booking (Hours) 1.25 0.83

Average Hourly Rep Cost $20 $20

Total Rep Cost Per Booking $25 $17

Track Calls to Inform & Motivate

Resources include Navis Narrowcast; Google Analytics; Bookt Lead Management tools

Using FlipKey and Navis Tracking

Tools

Without Tracking

Tools

6:30

5:00 M

inu

tes

Average Call Time

FK clients show a 30% increase in call time when using tracking tools

Tracking Testimonials…

“Until I started tracking my leads, I didn’t know what I didn’t know. Those that don’t produce don’t stay around.” - Tim Cafferty, Outer Banks Blue

“We post a weekly Performance

Board… my people know if they aren’t cutting it.”

– Jason Sprinkle, 360 Blue

Get them to come back

You can’t control the house…

… You can’t control the weather

You can’t control lines at Disney..

… But you can control your service

Best Practices….

Be nice Clean homes Address issues quickly Send holiday cards Newsletters Etc Etc Etc Etc

Good ain’t good.. It’s OK

Only “GREAT” is remembered…

What’s is great?

Happy Surprises

Remove Friction Points

Rifle CRM vs. Shotgun CRM

Example of Rifle CRM….

6-8

4-6

8-10

10+

<4

Party Size

05.23

06.09

10.23

03.09

09.03

Date of Inquiry

Early Summer

Labor Day

Thanksgiving

Spring

Fall

Arrival Season

Fall Deals Large Homes

Call Now for 10% off

Schools Out! 3-4 BRs Still Available Call Now for 10% off

FlipKey Client Services +1 (617) 849-7010 pmaccounts@flipkey.com

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