Over the past few years, the bulk of timeshare revenue has been generated by existing owners. As millennials grow into a large middle-aged audience, we need to begin to reassess how we target our customer base and begin to include them. The vacation industry is starting to see a rise of timeshare interest and ownership by millennials. Here are some specific ways that you can target the millennial generation in timeshare marketing.
Market the Experience
It is no surprise that this generation would rather spend money on experiences than things. Traveling and spending time with their loved ones is essential to millennials so incorporating the experience that can be associated with a timeshare can be a great appeal to them. There is also more of a push to vacation in more unique places, other than just at the beach. By offering timeshare opportunities in urban and mountainous locations you are more likely to make your properties more attractive to a millennial.
Market the Flexibility
One dated view of timeshares is that they are stiff and rigid. The truth is that they do not have to be! With options such as points-based ownership, and more modern versions of timeshare ownership, there is a greater deal of flexibility that you can market to millennials. Also stressing the ability to vacation without the worry of advanced planning can be a selling point – always knowing what you are going to do alleviates stress!
Market the Value
Millennials do not want to stay somewhere that is not important to them. It is important that you market the relational value of a timeshare and the impact that it can have on their families. This generation looks for ways to include their community in everything they do, even their travel, so marketing the ability to build a strong community year-after-year while on vacation can be a way to increase the value of a timeshare for a millennial.
Market the Sustainability
Finding ways to travel and tour new places sustainably is increasingly more important to millennials than previous generations like the baby-boomers. This generation enjoys finding options that are not only eco-friendly but are overall sustainable for their families for the long-term. Timeshares can offer them that. It can offer sustainability by giving them the opportunity to have a steady vacationing option without purchasing an entire vacation home and many resorts are offering timeshares that are striving for eco-friendliness in their operations as well.
It is essential that timeshare providers begin to target the quickly growing market of millennial vacationers. Utilizing modern marketing techniques like social media, influencers, and well-made online properties, you will be effectively market the above qualities that matter to them. I’m sure that we will continue to see growth in the timeshare industry with this generation!