Success and marketing strategy of Airbnb A brief analysis
How did Airbnb take-off? The story of two young brains hatching a common idea of sharing “Air-Bed and Breakfast� and turning it in to a huge success has reached every nook and corner. Their strategy of leasing out spare rooms, homes or even castles and properties from owners to travelers online was a sheer win-win. This global business rentals giant has conquered enormous challenges with prudent strategies and business planning.
Here, we walk you through the Airbnb’s business success and methodologies to help entrepreneurs build a platform with essential properties.
Being responsive to market needs Airbnb’s concept of a “peer to peer� rental business started small and met with some jerks in between. A major setback was when the business fell stagnant making only $200 a week for several months together. They could find the pictures of the listed houses were not up to the mark and demanded clarity and reformation. So they personally captured the listed houses and this strategy helped them hitch a hike to $400 a week.
Building a foundation of trust
Airbnb is so keen in their inspecting mechanism to monitor both the parties(host & travelers) and give due emphasis to framing of policies. They built up online ID verification system and peer review mechanisms to ensure honest and valuable business transactions. Airbnb ensures that the hosts are backed by insurance against any theft or vandalism. A 24-hour customer hotline is at the disposal of the customers.
Variety is the spice of ‘Marketing’
Airbnb has ramified its rental business into lucrative ideas to enhance customer-experience. The ideas cater to the needs of different segments of the market. Staying with a plan to boost accommodation options for customers, offering resorts, castles and vilas at a discount or organizing LEGO houses for children...etc.
Emphasizing on Ease
Lending a website a cleaner and leaner layout was one of the prime indispensable for their success. Easy sailing user interface offers a hassle-free experience, Playing another one important courtesy to revenue manifold. Prompting rapidly to the queries of customers renovates the brand name, trust and the quality of service.
Expanding Market Reach
Airbnb made a good stride in rental business industry, and widen up their horizon at different levels. For instance, Airbnb caters to more than 8,00,000 listings in many countries. It has laid the exemplary base for novice businessmen and start-ups.Following its strategies could give you a good chunk of Market-share.
Bottom-Line Several peer-to-peer accommodation networks have risen now, still, Airbnb stands as the first choice vacation rental platform to assimilate. The disruptive innovation they were able to bring in, catered customer’s need in the past and thus far. As an entrepreneur, if you’re looking forward to developing a hotel rental or vacation rental platform similar to Airbnb, then get connected with Agriya. It has in place a cost-effective and ready-made script of Airbnb, in the name of “Burrow”. Click the button for more info,