Introduction
Hands down, Bali is everybody’s dream destination. Its stunning landscape and vibrant culture make it a sought-after destination for both travelers and expatriates alike. With the increase in the number of visitors, the demand for commercial villas and resorts in Bali has also increased. This means that as a property owner and investor, there is an opportunity to generate revenue. However, as a villa, resort, or commercial space owner it is very important to attract and retain your guests for repeat bookings to make a substantial profit. Therefore, in this blog post, we’ll explore 10 effective strategies to boost your commercial property occupancy in Bali.
We will try to help you understand your target market so that you can leverage online marketing, enhance your properties’ curb appeal, and build local partnerships to meet the needs of today’s diverse clientele. Learn these strategies and implement them to boost your property occupancy rate.
10 Ways to Increase Commercial Property Occupancy in Bali
Understand Your Target Market:
Before actually selling your service you need to understand who you are selling it to. This way you can adapt your offerings and meet the market demands more efficiently. For this you should carry out thorough market research, you can follow the DOC rule. In short, you should analyze your Demography, use Online platforms, and understand your Competition.
Understanding Demography:
Study the demographic profile of your clients, their age, their income level, and what countries they are coming from. Along with this, you should also understand their motivation for travel, whether they are tourists who expect to book the villa or resort for a short-term stay, remote workers who want to book the place for the long term and expect modern amenities, expat families who have moved to the island, event organizers looking to book your property for a wedding or a party, etc. This will give you a clear idea of how you want to market and increase your commercial property occupancy in Bali.
Leveraging Online Platforms:
A million-dollar question arises, how do you understand what kind of travelers are interested in your commercial property in Bali? For this, you can use social media analytics. I am assuming that if you own a property you have already tried setting up a social media account on Facebook and Instagram etc. to increase bookings. Now is the time to dig deeper and understand the statistics of your social media posts. Check for the type of people who engage with your posts – like and comment on them, track popular trends on platforms like TikTok and Instagram, and keep a close eye on the request inquiries being sent to you via these platforms.
Analysing Competition:
Competitor Research is the easiest way to understand your market. You can start by evaluating similar properties in areas like Canggu, Mengwi, Ubud, etc. You can pay a visit to these places and see what amenities make them stand out and boost their Bali villa rental. By doing an on-ground research you will also be able to understand what type of travelers occupy what kind of properties and carve a niche out for yourself. Remember, I am not suggesting you copy-paste ideas from other businesses because that will not offer you an edge. Your aim in analyzing your competition should be to understand the gaps in the market and to take advantage of them when you plan your strategy.
Optimize Your Property Listings
If you are planning to rent out your commercial property in Bali it is essential to attract potential tenants to boost your occupancy rate. How will you do that? Here are 10 things to keep in mind.
Start with high-quality photos that showcase your property’s best features,
Register your property on different property listing websites. Write compelling descriptions – use relevant keywords such as ‘short-term rentals in Bali’ etc. to ensure that you rank higher on the listings, and highlight your USPs – such as the proximity of your commercial property to popular beaches in Bali, local tourist attractions, and different amenities like pools and gardens. Boast about the lifestyle that comes when the guests decide to live on your property.
Ask your happy customers to share their feedback with you. You can then use them to increase credibility and build trust
Another sure-shot way of building trust with your potential customers is to maintain transparency. For that, make sure that you include all essential information such as square footage, number of bedrooms and bathrooms, available amenities, lease terms, etc.
You can use multiple social media platforms to reach a wider audience. Make sure you build a consistent brand persona.
Leverage Online Marketing Strategies
The first step to building an online presence for your commercial property in Bali is to get a professional website for yourself. Use high-quality images, write detailed descriptions, add relevant pages, and offer virtual tours of your Bali villa or resort to attract clients. Further, you can also use targeted ads to reach specific demographics, this will rank your website in the top searches. All the while it is your responsibility to make sure your marketing efforts resonate with your potential clients so that you do not lose money on paid-per-click ad strategy. To rank higher organically you can try posting blogs at regular intervals and focus on local SEO.
But all of this can become tedious everyday work and steal your time. So is there an alternative? Definitely! You can register with some popular property listing sites that have the same types of visitors you expect on your property. When you use such a platform you can do away with less effort yet make revenues that would otherwise require a lot of time and money. Platforms like Azurebali offer similar services.
Enhance Curb Appeal and Property Presentation
It is very important that you improve your curb appeal and property presentation to attract the right type of clients to your Bali villa rental. You should start with the exterior; this means that you should ensure you maintain your campus with vibrant plants, clean walkways, and decorative elements like outdoor lighting to create a cozy ambiance.
You can choose from different aesthetics for your Bali villa property, such as tropical, Mediterranean, urban, contemporary, or open-plan designs. Moreover, you can arrange various furniture pieces to maximize your villa space and develop a clean and functional style.
Offer Competitive Pricing and Incentives
The pricing or rent of your commercial property in Bali can make or break your success. That is why it is very important that you conduct thorough market research to understand the average rental rates before you set a price. Along with this, you can also offer tiered pricing to accommodate guests with different spending capacities. But remember, it is important for you to assess and regularly update your pricing just as much as it is to set the right price. You can do this by implementing a dynamic pricing strategy. Learn how AzureBali uses dynamic pricing to boost revenue on its commercial properties in Bali.
At the same time, it is also crucial that you highlight the unique features of your villa or resort in Bali so that you can justify the amount you are charging your guests. You can easily do this by showcasing where you are located, maybe near prime locations such as Seminyak Beach or Ubud’s rice terraces, etc, the kinds of exceptional services you offer, and facilities such as a private pool, spa services, or complimentary breakfast.
Further, you can drive higher bookings by incentivizing your guests. For instance, you could offer discounts for early payments, reduce the rent if they are regular visitors, waive fees for certain amenities from time to time, and offer referral programs to reward your guests for bringing new renters.
Build Relationships with Local Businesses
Would you believe me if I said you could establish connections, foster a sense of community among different service providers, and support the local economy all while developing a thriving villa and resort business in Bali ?
To start, network with nearby businesses, attend local events, and collaborate with local shops, restaurants, and other service providers. For example, you can offer joint promotions or discounts to your guests. You can also host networking events or workshops at your property to increase foot traffic.
Create Flexible Leasing Options
You should create flexible leasing options on your commercial property to attract a wider range of tenants, retain them for a longer time, and increase revisits. To achieve this, you can frame customizable payment plans that allow your guests to fit their budgets. Additionally, you can offer tiered pricing to generate more revenue by increasing footfall at your commercial property and maximizing the occupancy rate.
Focus on Excellent Customer Service
Train Your Team: Invest in training your employees to help them develop better communication skills, problem-solving abilities, and empathy.
Listen Actively: Encourage your staff to listen to the needs and concerns of your guests. This will make your customers feel valued.
Personalize Interactions: Use your previous customer data to tailor their experience. You can utilize a CRM tool to manage all customer-related data.
Solicit Feedback: Ensure you are open to feedback through surveys and follow-up calls. This will help you make the changes your customers actually expect instead of shooting in the dark. At the same time, it shows that you value your guests and their opinions.
Go the Extra Mile: The magic lies in the details. Encourage your staff to surprise your customers with small gestures and exceptional service.
Invest in Property Amenities
You can increase your revenue manifold by enhancing the appeal of your commercial property in Bali. You can achieve this by providing high-speed internet on your campus, setting up modern meeting rooms, offering ample parking space, creating outdoor settings, and ensuring that you have community event spaces.
You can also boost your occupancy rate by incorporating fitness centers or green areas that add value to the lives of your guests and promote a healthy work-life balance. If your property aims to attract families and couples, you should also offer amenities like pools, BBQ areas, and pet-friendly spaces. This will encourage your tenants to choose you over others.
Collaborate with Social Media Influencers
You can also collaborate with local influencers, popular travel influencers, and real-estate bloggers to expand your reach among niche audiences. When you decide to work with an influencer take extra care that you do not get swayed with the number of followers only. Do your research on the kind of audience, the type of content they create, the engagement rate, etc.
Conclusion
In conclusion, to increase the occupancy rate for your commercial property in Bali you need to have a multifaceted approach where you combine market insight, plan your marketing approach, and maintain a strong commitment to provide exceptional service. You also need to develop an understanding of your target market. This means that you should actively look for ways to leverage different online platforms and attend local events to attract the attention of your client. Therefore in this blog, I have also discussed how you can foster local partnerships with different service providers in Bali as they can help you to deliver exceptional experiences to your guests and keep them coming back.
You should not forget that to build a brand reputation for your commercial property and to boost its occupancy rate you not only need to implement these 10 strategies but also keep a check on the results they are generating for you. In short, by creating a feedback loop and taking action accordingly you can watch your commercial property flourish in the beautiful paradise aka Bali.
