The Marketing Strategy for rental booking business to Maximize the Revenue Generation Possibilities

Do you know?

Thoughtfully building the features of your mobile app can significantly lessen your sales efforts.

Here Are Some Questions Oftenly Asked By Clients.

Q:You think your business idea solves an existing problem?

A:For sure, you can call it your USP, but it is a feature as well.

Q:You think the features that you have planned for the business are for providing the users with the ease of accessibility?

A:For sure they do, but they also have an influence in the marketing of the business.

Q:You think your marketing is for acquiring the customers and retaining the existing ones?

A:For sure it does, but it is the aspect that makes or breaks the revenue model of your business.

All the aspects that form a business work in an unending chain of circle.

To understand this more carefully, we have intensively researched on the Airbnb’s business plan and have come up with how it strategizes the marketing campaigns in order to make optimum use of the features to maximize the revenue generation possibilities.

Before that, I highly recommend you to go through this informative piece to know more about Airbnb as a business.

Read Here : When travel and hospitality is talked about, the C2C marketplace – Airbnb is sure to make a huge point of discussion. And it is obvious, what say?

So, what works well for an app like Airbnb and what won’t work for it, have a read.

**So, what works well for an app like Airbnb and what won’t work for it, have a read.**

How Airbnb Convince People to Become Hosts

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You can easily convince people to become guests, the difficult task is to convince people to become hosts.

After all, opening up ways to the personal spaces to strangers is not so easy of a task.

In this case, what can help them are the rewards that they can earn by joining the platform and listing out their accommodations. This is why the importance of Landing page is too much of significance to count.

Before even getting them list out their place, Airbnb gives an estimate of how much the hosts can earn on the basis of the accommodation they list out.

It asks the hosts about the following details:

Q:How much space does the host want to rent?

A:The hosts can select from entire place, shared room, and private room.

Q:How many guests can the space accommodate?

A:The hosts can select from 1 guest to a maximum of 16 guests.

Q:Where is the space located?

A:The hosts can select the city/town for where the space is located in.

Q:Is this listing a home, hotel, or anything else?

A:The hosts can select the type of the listing; whether the place listed is a home, hotel room, or anything else.

Q:What type of property is it?

A:The hosts can select from the category of the space, whether it is an Apartment, Condominium, Guesthouse, House, In-law, Guest suite, Townhouse, or Vacation house.

Q:What will the guests have?

A:The hosts can select to rent out the entire place to one guest, or private spaces to two or more guests, or joined shared spaces for more guests, thereby optimizing the usage of the space.

Feature: Rent Calculator

On the basis of the number of guests accommodated, type of the property, type of the listing, type of the space, location of the space, the area of the space the host wants to rent, etc., the algorithm of the platform functions in such a way that they find out the estimated total earnings they can make in a week, by renting the space.

Feature: Multi-language and multi-currency setting

While showing the price in dollar can leave the potential host in ambiguity about how much they will earn, it is important to make sure that your home-sharing online portal consists of Multi-language and multi-currency support.

When the prospects view the approximate hosting amount in their own currency and language, they are more tend to get attracted towards listing out their accommodation son the platform.

But the most important part of the home-sharing online portal is the CTA button that it includes. The CTA button of Airbnb easily stands out with the help of the red color in the entire website done in white. This leads, the leads to unfailingly make note of the CTA button.

Feature: Filter Algorithms

The filter algorithms are set such that no matter what accommodation, home, or room the hosts share, Airbnb makes it possible by making them visible in the search results of the travelers all across the world.

The algorithms for filtering under the marketing strategy for rental booking business are such that they precisely match what the travelers are looking for, to what the hosts have to offer.

Feature: Complete Control

The hosts can once and again have a complete control over the listing of the accommodation, the availability dates of the accommodations, the price of the accommodations, setting up the house rules of the accommodations, and how the listing interacts with the guests.

It is totally under the control of the hosts to set the check-in date and check-in times for the accommodations, and handle the process however they like.

This also empowers the hosts to make edits to their listings and have complete control over all of their listings.

Feature: Support 24*7

The 24*7 support feature ensures security and safety for the hosts from the online home-sharing portal.

The portal offers tools to help the hosts gauge their hosting performance, hospitality tips, and an online community of experienced hosts which consists of questions and answers and a page for the sharing of ideas for a successful hosting.

By providing support round the clock, the chances of impact on the customers increases as they get assistance whenever they are stuck, this in turn gives an edge to the marketing strategy for rental booking business to flourish.

What Can Possibly Go Wrong When Aiming to Convince the People to Host?

When you carefully observe, the host portal is linked to Airbnb’s main navigation, which may lead the hosts to click away by eloping from the Signup process.

Stuffing too many links in the footer section

Agreed, the footer on the portal has got higher chances to turn the leads into the prospects, but stuffing way many links into it can turn off the leads and they can altogether decide to skip the platform.

The ugly truth remains, there is no point in connecting the leads on the social media platforms before connecting them to the online home-sharing platform.

It is therefore important to not let the social media icons turn as a distraction for the potential hosts.

Airbnb Promote Specific Listings

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Airbnb allows certain listings to be added as a featured listing.

Feature: Supporting (multiple) media(s)

For a specific amount of time, Airbnb supports the listing of a $100 coupon off for unique accommodation concepts such as tree-house stays, boat stays and private island getaways.

This definitely requires the gut to attract the audience and as a part of an effective marketing strategy, nothing like delighting the audiences with the help of the videos and the images.

Now that the trance of the engagement has navigated towards the conversion, a quick call-to-action button works wonderfully for the platform.

Feature: Booking Photographer

This feature of our marketing strategy, featured listing is completely different from the normal listing of the accommodation. For the simple listing of an accommodation, good quality pictures are necessary, whereas for the featured listing of an accommodation, good has to be great – high quality pictures, engaging videos are must and thus the need of booking a professional photographer from the platform.

Feature: Getting the information about the prospects

When the prospects are navigated to the ‘book now’ landing page, and in case they escape the process, their data should be visible to the admin so as to put more efforts into the conversion of the prospect.

This calls for the feature where the IP address of the prospect is tracked and they are continuously shown the accommodation they are wishing to visit, thereby creating more chances to conversions.

Feature: Wishlist

Let’s say, the user cannot avail the offer now or that he cannot visit the place, but is willing to visit the place with the same accommodation in the future; for such instances, the feature called wishlist becomes the savior.

By deploying this feature of our marketing strategy for rental booking business, what happens is, the users can create a listing out of the accommodations they would love to visit in the future for the easy tracking of the place.

What Can Possibly Go Wrong When Aiming to Promote Specific Listings?

It is of utmost importance to see that the listing created allows the host to add only good quality and appealing videos. While it is important to allow the visual access of the accommodation to the potential guests, it is also important to avoid image stuffing as to lessen or avoid ambiguity at any cost. Thus, the number of media to be added should be limited.

On getting the IP address of the potential guest, it is important that you plan out the time and the frequency of popping up the accommodation in front of the audience. While too much is too annoying and too little is just not too enough to attract the undivided attention of the customers.

The places listed under wishlist are the accommodations that have already won the favor of the users and it is easy for the home-sharing online portal to attract the customers with the same. So, it is necessary that the marketing strategy for the platform is weaved with the help of these listings. It should not be like the new accommodations are listed by the users and the old ones get forgotten easily. After a while, it is important that the wishlist is visited by the users to build up the urge to be there.

Airbnb Try To Entice Business Travelers For Use Their Service

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The travelers, in most cases are one timers to an accommodation. The business travelers are frequent visitors, that too with the stay of a longer duration.

That is why, it becomes a requisite for the Airbnb-like applications to develop a separate section for the business travelers, just like Airbnb did.

Features: Filtered Places

Keeping into consideration the necessities of a business travel, the accommodations that have 90% and more response rate from the hosts, 24-hour check-in facility, wireless Internet, entire homes, a laptop-ready workplace, related essentials, are filtered out from the rest and are displayed for the business travelers.

Features: Special Credits

For the retention of the business travelers, it is important to get them signed into the process at the time of making the booking for the first time.

Special credits can be transferred to their accounts which can serve as a discount for them when they make booking for the business travel, the next time.

Features: Host Business Listing

Since listing out places for business is a big responsibility considering the longer stay of the guests and the 90% of the response rate that the home-sharing online portals demand, it is crucial to acquire the host to get more of the business travelers on the portals.

And so laying out a separate feature for the listing of the business accommodation becomes important and easily it can be separated out from the other listing of other services, which justifies the purpose of designing marketing strategy for rental booking business.

What Could Possibly Go Wrong When Aiming to Entice Business Travelers to Use their Services?

Undoubtedly, business travelers can help the hosts earn more, considering the longer duration of their stay. In many cases, they can list out the essentials which they might not be able to provide to the businessmen and so it becomes important that all the facilities and the services are cross-verified by the portal before listing it out for bookings.

The travel credits are basically huge amounts, which in most cases can cover a night stay at a normal listing. This is the poor functioning of the platform. The credits earned from a business travel should go for booking an accommodation for another business travel and the same goes for the normal listing of accommodations.

How Airbnb Encourage People to Buy Gift Cards

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Nothing can build a business like the ‘Word of mouth marketing’. More customers can be accommodated and more retention can be made possible with the smart strategy.

Feature: Send a Gift Card

There are some feature in the application that aid to the marketing strategy that lays efforts and ‘send a gift card’ is one of those. This allows the users to gift another user a stay to an accommodation or some gift credits that allows the users to avail discounts for the experiences, trips, restaurants, or any service that can be booked by the home-sharing platform.

Feature: Redeem a Gift Card

When the user receives a gift, he can choose to redeem it by using the coupon code, before payment and can avail the benefit in monetary terms.

What Could Possibly Go Wrong When Aiming To Encourage People to Buy Gift Cards?

The home-sharing portal should beforehand think about the entire gift sharing feature. It is advisable to keep all the services classified and individual section for sending and redeeming the gift cards.

The same goes for the redemption of the gift. When the category of the service is specified, it becomes easy for the business to look into the classified service and connect the process.

Importance of Landing Page

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If you gauge this information under the light of observation, you will see that all the services at last narrows down to how effective is the Call-to-Action and ultimately the Landing Page.

Rightly said, a Landing page is an indispensable part of marketing. And the marketing gets better when features are added to it.

See for an example: Unmatchable Features that Help the Most in Airbnb’s Influential Marketing Strategy

No longer is marketing restricted to flyers and brochures or at the most ads in the newspapers.

Today’s marketing world is about flyers template, email templates and Landing page template. If you haven’t already, you are bound to have a query as to how a landing page is effective in the marketing strategy.

Talking about it, in general terms, it is any page that a user can land page, but if you consider it into the marketing realm, it is usually an independent page, that is completely different from your home-sharing portal main page or any other page with minimalist or no information and basically consists of a form that gathers the information about the user.

The landing page can be compared to making deals online, like some kind of offer in order to receive the contact information of the user.

They speak to the specific audience while clearing out all the distracting audiences.

I can’t just resist touting about the significance of landing page for any business that has laid its foundation on the basis of the Internet.

This way you get an app similar to Airbnb developed along with the inquisitive landing pages.

Have a platform like Airbnb but are doubtful about the potential of your landing pages?

Talk About it Here