An interview with Steve Milo, CEO and Founder at Vtrips
We sit down with Steve Milo, CEO of Vtrips. VTrips is the premier property management company servicing Alabama, Florida, Georgia, Hawaii, Maryland, New Mexico, North Carolina, South Carolina, Tennessee, and Texas.
How did you end up at VTrips and what problem does VTrips solve for its clients?
Started VTrips managing 1 vacation rental property and realized the opportunity to professionalize a hyper fragmented market. VTrips excels at revenue management, managing operations like house keeping and maintenance, financial statements and managing the guest communication and experience.
As the CEO, what are your main responsibilities at VTrips?
My role is to set the strategy and vision for VTrips and let the executive team execute. My day to day activities focus on business development, government regulations and advocacy, and partnerships.
To get a bit more technical, what are some of the acquisition channels that have worked well for VTrips and why do you think that is?
We have leveraged hosted systems and APIs to scale. We have partnered with best of breed revenue management, smart lock technology, distribution, crm and property management solutions.
What role does your C-level team play when it comes to organising, operating and improving your growth funnel?
Marketing and Sales are tied together and both report to our Chief Strategy Officer Scott Seay. In terms of growth, we have inside sales and outside sales positions which share common bonus and are measured on weekly performance vs. budget.
At ColdFire, when we look at our clients' Growth strategies, they vary greatly. Some have found a single, scalable client acquisition process while others thrive on a mix of top-of-funnel strategies. If you had to summarise the high-level LeadGen strategy of VTrips, what would it be?
VTrips is focused on markets that are under-served by our competitors. In some cases, we have competitors who are struggling financially. We have actually more money in 2023 for growth.
What is a Growth technique that you've used at VTrips or at previous companies which you believe is underutilized at most C-level teams - and why?
We are getting our biggest ROI by partnering with real estate agents. Creating personal relations with the top performing in market real estate agents is the key to long term sustainable growth.
Growth can happen using marketing and product development. Which has worked better for VTrips and why do you think that is?
Our biggest challenge in 2022 was find good outside sales people to close our lead. For 2023, we are having more success bringing in talented sales people.
Has your C-level team experimented with some kind of cold outbound strategy (like cold email)? If yes what was the general outcome and if no, why not?
Vtrips has focus on quality vs. quantity leads. We are focused on identifying property owners via property records or official registry sites.