Now, many factors go into becoming a mega brand. The brand architecture type that I will be discussing is not the only factor for Marriott. It takes having a great strategy with the right team that can execute the strategy while optimizing when necessary.
In this article, we'll only focus on the brand structure chosen and how you can mimic the same structure for your vacation rental success!
Brand Architecture Type: Hybrid/Endorsed There are three brand architecture types and I'll cover the other two in future articles. Today, we'll discuss Marriott's Hybrid/Endorsed architecture type to give you an idea of how you may use this model for your own property management or vacation rental branding success.
Before we truly dive in I'd like to share a video by
Sasha Strauss, the Managing Director of Innovation Protocol. In the video below, Sasha explains in a very simple and insightful way what a brand architecture is.
By watching the video you'd get a better understanding of what I'm explaining to you while reinforcing the power of defining your brand architecture type... right now!
Watch the video before reading the rest of this article.
Sasha stated something so profound that it requires saying again... he states that "brand architecture is simply the mapping of your intentions." This is a great question to ask yourself...
"What are my intentions for my vacation rental business and the units we provide?"
As you can see, it is very important that you get clear on your brand architecture for your vacation rental business. It's critical for the success of your vacation rentals. This is of most importance for property management companies that own and operate their own vacation rental units.
Now, I am aware that this may appear to be pretty intimidating for most and this is why we are here to help you figure all this out. However, this is a process that can't be ignored, and it doesn't matter how big or small your vacation rental business is, or if you're new to the industry.
It will require your attention, and the attention is always in the details!
By defining your brand architecture type, you're placing yourself ahead of your competition because this process is ignored by most vacation rental businesses, especially startups.
So, let's look at Marriott Hotels & Resorts to get a better understanding how setting up a hybrid/endorsed brand structure can work for you.
Marriott is an example of a hybrid brand structure that has a parent company; Marriott, with many sub-brands like Sheraton. All of these brands, including parent brand and sub-brands, serve different travelers and guests in different ways and at different price points.
The sub-brands will benefit from the presence of the parent company, and each sub-brand will benefit from each other.
Choosing a brand architecture type that is right for you is crucial for your vacation rental business because you're going to fall into one of the three types by default... even if you don't choose. The Hybrid/Endorsed type is the most flexible because it combines all three brand architecture types into one.
When choosing a brand architecture type for your short-term rental or vacation rental business, think of these three factors:
1.) Your current property type and mix (condo, single-family, property themes, etc. and locations)
2.) Your marketing goals and digital marketing strategies.
3.) New guest experiences and/or services in your pipeline.
Your vacation rental success relies on building a brand for your business. Like I mentioned above, you're going to fall into one of the three types regardless of what you do. Now, if you are not looking to really scale your business to become a household name then you can probably ignore this process.
But, if you're looking to build a Mega Brand to the likes of Marriott, then it will take your time, knowledge and energy and you will need to be disciplined while building the right team to help you get there. It's not something that will happen overnight so you don't have to overwhelm yourself with this. Just take one step at a time!
So, here's a real simple process to follow:
1.) Define your brand architecture type
2.) Establish your brand identity, brand voice, and brand culture
3.) Build a direct booking website
4.) Execute on your brand marketing strategies
Please share below how you see this Hybrid/Endorsed architecture type working for vacation rental or property management business? Do you think you are currently running this model?
