StayFi --> Repeat Renters --> $$$
We have a BIG, exciting, transformative announcement to make. Are you ready?! We are partnering with...
Alright, so if you're not in the industry you probably aren't familiar with StayFi, so let's dig in to explain what they do and why they're so valuable.
What is StayFi?
StayFi is a company that produces a hardware device that plugs into the back of your router and allows the guests to connect to the internet without using a password.
The device looks like this...
Why StayFi?
Let's break it down!
Advantage #1 - Collect ALL guests information
This is a huge benefit! So instead of only having the primary renter's email and phone number, we will now have everyone's information. Especially with the Poconos lending itself to being a local destination (i.e. not one where you need to fly there), this gives us a great ability to encourage guests to come back and stay!
As it currently sits, our reservation breakdown is approximately 75% Airbnb, 20% VRBO and 5% Direct Bookings. Understanding this, we know there is a lot more opportunity to re-engage previous guests, get them to come back and facilitate more direct bookings.
Advantage #2 - Switchback Email Marketing
StayFi has an integration with Switchback, who is a marketing agency, leveraging StayFi's CRM list (think: email and text information) and allowing us to re-engage guests at strategic moment in the future. Think...
- It's been a year since you've last stayed, plan a trip!
- You've seen us in the Summer, now see us in the Winter!
- Low vacancy alert! Come this weekend for 10% off!
- Come see the SAME HOME again
- Come see a NEW HOME for the first time
Endless opportunities here and we will, in turn, be creating out own internal SuperGuest program as well, offering perks to our 5-star rated guests and keeping them coming back! (more info to come on this later)
Advantage #3 - WiFi Outages
StayFi allows us to monitor the status of your internet remotely. So if there is an outage (literally happened yesterday, GFI tripped and the internet was down...) we can quickly dispatch a team member before it becomes a guest issue! When guests arrive, they are certainly making the unconscious decision if they're going to like their stay or not, and it really sends the wrong first impression when they arrive after a long drive to have no internet (woof!).
Cost and Pricing
Unfortunately they do not provide their products or service for free, and there are a few different layers of cost associated with StayFi.
Access Point (per month) - StayFi charges by access point in a tiered way, but what you need to know is we so supremely believe in this offering that PRM is paying this cost. This will cost us a few thousand per year, and we deem this as money well spent and not passing the cost off to the homeowners (similar to what we do with Hostaway, PriceLabs, Enso, etc.)
Marketing List Size - As our marketing list grows, the cost will in turn grow. This isn't quite as expensive but once again PRM is paying this cost which will be a few hundred dollars a year.
Per Text Message - Once again, we're paying for the value and PRM is paying this cost which will add up over time, but money well spent in increased bookings and revenue!
Email Marketing Company - This is where we plug into Switchback who will help us best utilize our growing contact list. As you may know, by background is in advertising and marketing, however, we need to bring in outside help to really make the most of this implementation. We stay very busy, even during the shoulder seasons, and by bringing in 3rd party help it will help ensure that were not sacrificing any of our existing responsibilities in order to implement this. Having said that, PRM is paying for this cost. This will inevitably be more expensive as we use them more, but money well spent.
Price Per Device - Lastly, there is the cost per device which ranges from $125 to $205 per access point depending on the size of your home. Good news - we were able to negotiate a 10% discount on the price/device due to a bulk order, as well as greatly reducing the cost for shipping, and this one-time fixed cost will be shown on the Owner Statement. Device depends on the size of the home, but the charge will loosely be shown as...
- Long-Range | 4+ BR home | $205 x 10% discount + Shipping + Taxes = $198/device
- Lite Range | < 4BR home | $125 x 10% discount + Shipping + Taxes = $124/device
*We will take care of all installation and programming free of charge
We took the time to spell this all out to ensure everyone knows we have skin in the game as well and we don't enter this partnership lightly. We feel confident that this growing marketing list will benefit everyone, and everyone with PRM will share in the net benefits. If you feel strongly against this integration and do not wish to participate in this opportunity, please email me directly (Dave@PoconoRentals.com) and I would be happy to explain further the benefits and why this helps everyone collectively.
We will begin installing and implementing these devices in April and we're very excited for the positive influence it will bring!
And if that wasn't enough information, here is a flier form StayFi sharing a bit more information.
