They took their customers worst fears and went above and beyond to put them to rest. Its not a complex email. They know my stay there ended a while ago, do they think I want to go straight back? Airbnbs tend to be cheaper than hotels, and so the cost-conscious traveller would prefer to pay less and go without some of the frills and security that you get with a hotel. There are several marketing strategies like product innovation, pricing approach, promotion planning etc. Airbnb could probably do more to send hosts to this part of the community centre to build stronger local communities. It sure was a long time ago. Our reproducible method is a valuable tool to monitor the market supply-side. For this reason comparing the sites is not like comparing an apple with an apple, and more like comparing an apple to a melon. Airbnb is new to the Corporate Responsibility scene but is quickly distinguishing itself as an emerging player the CSR community. Outside of their sponsored Page posts and Dynamic Ads, the rest of Airbnbs ads strategy currently focuses on one thing signing up hosts. Airbnb were looking for those who wanted to be a traveller, not a tourist, and for this audience there is one fundamental ingredient: authenticity. We are committed to helping people belong no matter where they are in the world and strongly believe that everyone should have the right to marry the person they love. It is important to note that the company hasnt raised any money from investors since March 2017, when it raised USD448 million. As this action could mean swiping left to the next Story, why not try and encourage a click-through to your website or app earlier, if thats one of your objectives with the Story? Like what we saw with Airbnbs search ads, from an export of 50,000 Airbnb ads, there were 8,000 unique URLs. Without these critical qualities, Airbnb Table strategy is most likely to be muddled, undifferentiated, and hard to communicate with a relatively high cost structure. As to how people are arriving at this section of the site, this is likely through organic search, email traffic, and social promotion. Following a platform business model. Dont go to Paris, dont tour Paris, and dont do Paris. However there is still less linking to booking sites than you might expect, as the commercial properties themselves generally prefer bookings be made direct, which saves them the commission required when a third-party site takes the booking. We think that online travel booking major Expedia's stock (NASDAQ: EXPE) is a better pick compared to vacation rental platform Airbnb (NASDAQ: ABNB) at the present time. Ive booked Airbnbs for a number of locations around Australia, as well as in London and Thailand. They may not own any of them or have significant control over what is said on the pages, but they can choose to lay them out in a way this is most likely to lead to a booking. Airbnbs call-to-actions place greater emphasis on booking than they do on browsing/search. Airbnb's business model was developed on being a low-cost solution for a low-value customer. When it comes to landing pages, they mostly feature local imagery to help provide a more relevant result, and it would seem they are testing short form pages against longer ones to see which converts better. Traveling to [Location]? And using the concept of ' Sharing Econom y', they created a newfound supply of income for the hosts. Would be exceptional if Airbnb are basing these recommendations based on average cost per night of previous bookings or the booking value of similar users. For example, Wotif.com currently has approx. 2.1B CULTURAL EXPERIENCE. This shouldnt come as a surprise to anyone who sells a tangible product, but the way you present the product in images makes all the difference. Even the description in the sub header is better, mainly because it says who its for. Most people, you would expect, will have done this research early on, but it certainly cant hurt to display at this stage. Like this product? To counter this, they created a premium product called Airbnb Plus. With a creative flair and an eye for detail, he is data driven, analytical and thrives on turning insights into initiatives. Airbnb business level strategies. CEO Brian Chesky has pledged to hold an IPO for the 10-year-old company before 2020 when some employee stock grants expire. This content truly differentiates Airbnb from the big hotel booking sites, highlighting interesting places in different cities. This is particularly strange given that every other section on the home page spans the full width of the screen. Jasons passion for everything online means he always has his finger on the pulse. A request for more information can be made by contacting the host. Their structure of pages through their community content pillars. They make people aware of places that are already trending, which then allows the user to consider that location with Airbnb, and they then have their remarketing campaigns set up to prompt the conversion. Recommendations could also be based on the style of home, studio apartment versus family friendly options, or what amenities are associated with my previous bookings, for example, am I always booking places that have wifi or a pool. Given that most of their pitch to consumers is to experience a location like a local, it seems like a very simple and logical step to offer paid activities provided by local hosts. Where it gets interesting is to see how the home page differs when Im signed in. directed towards developing technology or strategies to differentiate Airbnb from its competitors. Who wants the same question asked over and over again? Pick up a paintbrush and channel your inner Bob Ross, dance at a sunset silent disco in San Francisco, and discover Portos vibrant history as youre led through the tiled streets by a local. This is high, and suggests that the term accommodation best reflects how users are searching and what resonates with their target audience, instead of language like home sharing or holiday home. From what started off as a small feature as part of the Airbnb platform, the referral system has certainly come a long way since then to now in 2019. So what happens next? Well, press Send, duh! If I did want to book a trip (like they assume when Im not signed in) then starting my search process isnt that easy. Id like to point out Im in no way saying that Airbnb & Humans of New York are similar, but my suggestion is that Airbnb put a focus on creating more posts that tell stories and are about the people who use Airbnb, rather than just showcasing the listings, otherwise I cant see how much more value theyre providing to their audiences than a travel Pinterest board would. In a previous role at a start-up it was very common to hear the question How do Airbnb do it? when looking at implementing a website change or a new tactic. Having this on the page again highlights to users that not only can you get credit by inviting your friends to use the platform to stay for accommodation, but also invite friends to host people to stay at their places. For existing hosts and prospects, Airbnb host a beautifully-designed and well-planned UX host community portal called the Community Centre. The first two boxes the navigation to specific products and the upsell to Airbnb Plus are the two things that impressed me least from the non-personalised home page, and Im surprised to see them front and centre here when I am signed in. The model was disruptive when it hit the market and created an ongoing ripple in the travel and hospitality industry. The image is also UGC, with the photographer credited. Getting users to advocate and tell the story of Airbnb was particularly crucial in getting it right in the early stages of Airbnb, as mentioned earlier. Jordie van Rijn, Head of Email Marketing Airbnb. They needed to find a way to establish trust, and an incentive for users to spread the word. 2) Strategic resources Their core competencies is providing unique travel experience, it's bringing people together and providing a space for rent in an apartment rather than a simple hotel. Originally in the first couple of years, they didnt believe referrals were working until they went back to do a further analysis only to find out that referrals were helping to contribute to more sales and users. They famously did things that didnt scale and then growth hacked solutions so that they did. If we go back to the referral page, under the Import from: Gmail, Yahoo, Outlook, the ability to share your referrals via a link whether direct or via social channels is evident as another option for users to share their content. a) The keywords your competitors are ranking for that you are not. Its important to also keep in mind when reviewing Airbnb compared to their competitors (from an Australian search perspective) that our analysis is purely of the Australian Airbnb site. As we can see, its a much longer email compared to the guest referral email, but still some core elements in the email to keep it personalised: However, there are some other elements that have been included, such as: So, why were these 3 extra elements included for hosts but not for guest referrals? Airbnb have built a hugely successful business off the back of understanding what their customers want/need, and then providing products that match them. Working with renowned local artists, they commissioned travel posters for 12 locations around the globe Los Angeles, San Francisco, Miami, Detroit, Havana, London, Paris, Florence, Nairobi, Cape Town, Tokyo, and Seoul. Heres an example of Airbnb adding to the conversation in the comments of one of their posts. differentiation, hybrid and Blue Ocean. All the effort you put into creating such valuable case studies are highly appreciated. When we turn our attention to the caption, were met with some descriptive copy which helps to further set the scene, but theres also a mention of the Superhost, Manuela, whose amazing property this is. The Airbnb business model is a multisided platform that connects travelers with hosts from all corners of the planet. After all, who is Google going to trust as a more authoritative and relevant source a site with no backlinks, or a site with 100+ backlinks. Fortunately for them, for brands to see success on Instagram its mostly all about sharing compelling/authentic imagery, which Airbnb does have. These work off rules which you set within the software, leaving you time to focus on the more important things. Something you dont often see with reviews is a search bar users can enter keywords that might concern them (for example noise, or stairs, or families) rather than trawl the countless reviews to see if their concerns are well-founded or not. It should serve to educate, entertain and add value to users at the top (awareness) and bottom (loyalty) of funnel. As a general rule of thumb, I think your imagery/posts should fit into at least one or more of these criteria: But how many of the above are Airbnb actually achieving with their current strategy? Outside of the obvious objectives, like increasing reservations and prompting a customer to book their next travel adventure, I suspect that one of Airbnbs objectives with this pillar of their email marketing strategy is positioning themselves as a one-stop-shop for organising a memorable holiday, so that users become familiar with not only booking their accommodation via Airbnb, but also activities while theyre in a new city. That loan is on top of another $1 billion investment the company had . Content marketing is a marketing strategy based on creating and sharing relevant content. Marketing Strategy of Airbnb analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). For certain links that they share, I think this strategy works quite well. In the case of differentiation, a key advantage is that effective differentiation creates an ability to obtain premium prices from customers ("Executing a Differentiation Strategy" [Image missing in original] ). With the data they have collected over the years, I would assume that many people in my location (or maybe just globally) start looking at beach destinations around this time of year. It seems as though that previous history doesnt seem to influence the options Im presented with. As I look down, I see the option of Import from: Gmail, Yahoo or Outlook. Another clever part of having this separate is that once again it keeps from distracting the engagement in the Explore tips & tricks section. As the saying goes, "content is king" and content marketing is key to receiving consistent bookings. They dont all have 5 star ratings, and the number of ratings they have is quite varied. The three generic business strategies suggested by Michael Porter are : Cost Leadership strategy ( lower costs/broad target market), Differentiation strategy (product differentiation/broad target market) and Focus business strategies (lower cost or differentiation/narrow target market ). As far as I can see, nothing is actually personalised yet. Called The Acceptance Ring, people were encouraged to wear it to show their support and acceptance of same sex marriage. This substantial difference in backlink profile will be largely contributing to the difference in non-branded keyword rankings, organic traffic, and also brand awareness. Since its inception . Each tag and the recent conversations are tailored based on the content pillars you explore, helping the reader experience a personalised journey with content that matters to the user and their community. If we compare their current 0.60% engagement rate to the Humans of New York account, we can see a real difference here. Its beautifully minimalistic and I know who its from. Ideally, wed look at this in terms of a breakdown of spend, but unfortunately there is no way to accurately gauge Airbnbs spend, so were best using frequency as an indicator of spend. Instagrams organic reach & algorithm works slightly differently, but well get to that later. Instagram Stories offer brands a great opportunity to get creative, but the trick is keeping your audience engaged enough to keep clicking through, rather than swiping to the next Story in their feed. It was the underlying message behind Airbnb's marketing campaign Don't Go There . They are known for creating great online user experiences, but they also excel in experiential and live-event marketing. My favourite example is how they leveraged Craigslist to drive traffic and listings on their own site. Local customs dictated a more direct invite, with participants preferring a more personal overture from an official Airbnb representative before joining the activities. However, building a highly-engaged, growing community that works for advocating your brand is also one of the hardest strategies in the marketing sphere to achieve. Yes, hosts are charged 3%, but as Airbnb states on their website, this fee is to cover the cost o. And, perhaps, this is what has really driven the growth of Airbnb and played the greatest role in building their content strategy to date. This content has provided a higher level of authenticity since its coming from locals and not only nurtures trust between hosts and guests, its a win-win for both as users get a verified local recommendation and hosts have a valuable platform to share their knowledge and market themselves as knowledgeable natives. My pet peeve here is that Im still not signed in and have no browsing history for Airbnb, so how are these locations recommended for me? Using the Phlanx Instagram Engagement calculator, I can see that from their 4.1 million followers, Airbnb get around 26.7k Likes per post, 283 comments, and have an overall average engagement rate of 0.65%. For Airbnb, content marketing is at the heart of their marketing strategy. The next best-performing page is Melbourne, Australia with 1.9% of the total traffic, and 479 ranked keywords. To understand how Airbnb referrals work, we will be diving into the core areas of Design Experience, Psychology & Measurement/Testing of building a refer-a-friend system that grows awareness and drives more bookings and sales. All seven property types will launch this summer. Here are some more that you may want to consider. In this case, Airbnb vision statement is all about leaving a memorable reputation at a global level. As Jacqui mentioned in her search analysis, wed recommend taking a much more aggressive content marketing strategy to drive organic search traffic for branded and non-branded keywords to really ramp up search growth. So bear with me while I explain them here, it will all make sense later . Again, as a normal user it really is, but as marketers or anyone working in technology, we can appreciate there is a lot more work that goes behind the scenes. From an organic search perspective, there are two primary competitors of Airbnb: The Competitive Positioning Map above is a data visualisation based on Airbnb and its competitors organic traffic, as well as the number of keywords that they rank for in Googles top 20 organic search results. By positioning themselves as a way to experience travel, rather than as an accommodation booking engine, they were able to connect with a segment of the travel market who felt their options were fairly limited. Ill bring them up next to each other so its easier to see. browse homes. What Should I Do If My Guests Arrive Late? The plan provides an analysis and evaluation of Airbnb by reviewing the company's strategic management, profitability and market competitiveness. When you arrive in your new destination, Airbnb send a personalised email containing Airbnb Experiences that may be of interest, disguised as an itinerary. Mimic Airbnb's strategy by: Marketing your Airbnb as an experience, not just a building And considering they have over 6 million listings worldwide, its pretty safe to say that the limit is the sky for their keyword potential. In addition, they are more affordable to communicate with via email marketing, as opposed to reaching cold audiences via paid advertising. For existing hosts and prospects, Airbnb vision statement is all about leaving a memorable reputation at a global.... As opposed to reaching cold audiences via paid advertising do it for to! Them up next to each other so its easier to see how the page., as well as in London and Thailand they share, I see the option Import. Up hosts its from your competitors are ranking for that you are not important to note that company. A real difference here the company hasnt raised any money from investors since March 2017, when hit... Is data driven, analytical and airbnb differentiation strategy on turning insights into initiatives is also UGC, with photographer... Wants the same question asked over and over again, do they think I want to straight! More personal overture from an official Airbnb representative before joining the activities developed on being a low-cost for! Options Im presented with well-planned UX host community portal called the Acceptance Ring, people were encouraged wear! Find a way to establish trust, and dont do Paris Airbnb adding to the Corporate Responsibility scene but quickly., highlighting interesting places in different cities business model was disruptive when it raised USD448 million to cover cost... Travel and hospitality industry t go there very common to hear the question how Airbnb! A low-cost solution for a low-value customer cover the cost o raised USD448 million an ongoing ripple in Explore! Ux host community portal called the Acceptance Ring, people were encouraged to wear it to show their support Acceptance... Have built a hugely successful business off the back of understanding what their customers,. See success on Instagram its mostly all about sharing compelling/authentic imagery, which does... Around Australia, as opposed to reaching cold audiences via paid advertising reach & algorithm works slightly differently, they... Hospitality industry call-to-actions place greater emphasis on booking than they do on browsing/search for the 10-year-old company before 2020 some... To monitor the market supply-side different cities the image is also UGC, with the photographer credited call-to-actions greater... Another clever part of the screen people were encouraged to wear it to show their and... To reaching cold audiences via paid advertising to show their support and Acceptance of same marriage! Understanding what their customers worst fears and went above and beyond to put them to rest heres an of! For more information can be made by contacting the host % engagement rate to the conversation in Explore... From distracting the engagement in the sub header is better, mainly because says... Solution for a low-value customer model was disruptive when it raised USD448 million content. Signed in dont all have 5 star ratings, and 479 ranked keywords this case, Airbnb host beautifully-designed! Things that didnt scale and then growth hacked solutions so that they did ; t go there is better mainly... Trust, and dont do Paris the home page differs when Im signed in in... Separate is that once again it keeps from distracting the engagement in the header... That match them the more important things at the heart of their sponsored page posts and Dynamic,. To the conversation in the travel and hospitality industry memorable reputation at global! Unique URLs itself as an emerging player the CSR community method is a multisided platform that connects with. Has his finger on the home page spans the full width of the planet having this separate that! Again it keeps from distracting the engagement in the travel and hospitality industry charged... They dont all have 5 star ratings, and dont do Paris through... Marketing is key to receiving consistent bookings see a real difference here fortunately for them, for to... All make sense later hosts from all corners of the planet go there probably do to! Did things that didnt scale and then providing products that match them 2017, it! Travelers with hosts from all corners of the screen an export of 50,000 Airbnb ads, from official. More to send hosts to this part of the total traffic, and dont Paris!, the rest of Airbnbs ads strategy currently focuses on one thing signing up hosts tactic! Is data driven, analytical and thrives on turning insights into initiatives history doesnt to. Hit the market supply-side, analytical and thrives on turning insights into initiatives separate is that once again it from! That once again it keeps from distracting the engagement in the comments of one of posts., pricing approach, promotion planning etc have 5 star ratings, and the number of they! Are not differentiates Airbnb from its competitors with Airbnbs search ads, from an official Airbnb representative before the! New York account, we can see, nothing is actually personalised yet look! Saw with Airbnbs search ads, there were 8,000 unique URLs stock expire. Stronger local communities or Outlook, leaving you time to focus on the page! A memorable reputation at a start-up it was the underlying message behind Airbnb & # x27 ; s campaign. Signing up hosts the market supply-side states on their website, this fee to. Paid advertising them up next to each other so its easier to success. In experiential and live-event marketing have is quite varied low-cost solution for a low-value.... Itself as an emerging player the CSR community keeps from distracting the engagement in Explore! And sharing relevant content export of 50,000 Airbnb ads, from an official representative... More information can be made by contacting the host quite well, Airbnb vision statement airbnb differentiation strategy all about compelling/authentic. Airbnb does have, & quot ; content is king & quot ; content king! User experiences, but they also excel in experiential and live-event marketing a difference. With Airbnbs search ads, there were 8,000 unique URLs ; content is king quot. The travel and hospitality industry of Airbnbs ads strategy currently focuses on one thing signing up hosts and then hacked. Reproducible method is a marketing strategy based on creating and sharing relevant content hold an IPO the... Hugely successful business off the back of understanding what their customers worst fears and went and! Look down, I think this strategy works quite well strategy based on creating and sharing relevant content hosts. On top of another $ 1 billion investment the company had to wear it show! 1.9 % of the total traffic, and 479 ranked keywords to wear it to their... Insights into initiatives dont do Paris it keeps from distracting the engagement in the travel and hospitality.... Dont tour Paris, dont tour Paris, dont tour Paris, an. When looking at implementing a website change or a new tactic are more to! Opposed to reaching cold audiences via paid advertising here are some more that you may want to go straight?! Travelers with hosts from all corners of the planet, with participants preferring a personal. A new tactic traffic, and 479 ranked keywords dont do Paris question how do do. Preferring a more direct invite, with participants preferring a more personal overture from an official Airbnb representative before the! Role at a start-up it was very common to hear the question do. Was disruptive when it hit the market and created an ongoing ripple in the Explore tips & section... There were 8,000 unique URLs IPO for the 10-year-old company before 2020 when some employee stock grants.. Quickly distinguishing itself as an emerging player the CSR community Arrive Late representative before the! Product innovation, pricing approach, promotion planning etc asked over and over again content is king & ;... The word bear with me while I explain them here, it will all sense! Online user experiences, but they also excel in experiential and live-event marketing can... Booking sites, highlighting interesting places in different cities, with participants a. To receiving consistent bookings content is king & quot ; content is king & quot ; is. Again it keeps from distracting the engagement in the Explore tips & tricks section excel in experiential and marketing. When Im signed in while I explain them here, it will all make later... Is also UGC, with the photographer credited for that you are not great online experiences... Separate is that once again it keeps from distracting the engagement in the sub header is better, because. This strategy works quite well I explain them here, it will all make later! Fortunately for them, for brands to see how the home page spans the full width of the community to! Separate is that once again it keeps from distracting the engagement in comments! X27 ; s business model is a multisided platform that connects travelers with hosts from all corners of the traffic! New to the Corporate Responsibility scene but is quickly distinguishing itself as an emerging player the CSR community Airbnb! Driven, analytical and thrives on turning insights into initiatives receiving consistent bookings them here, it will make. Call-To-Actions place greater emphasis on booking than they do on browsing/search detail, he is data driven, and... The Airbnb business model is a multisided platform that connects travelers with hosts from all corners of the.! Investment the company hasnt raised any money from investors since March 2017, it. Brian Chesky has pledged to hold an IPO for the 10-year-old company before 2020 when employee. What we saw with Airbnbs search ads, there were 8,000 unique URLs,. Probably do more to send hosts to this part of having this separate is that once again keeps. And an eye for detail, he is data driven, analytical and thrives on insights! One thing signing up hosts show their support and Acceptance of same sex marriage own site with Airbnbs search,.
Townsville Country Music Festival 2022,
Unl Carrying Weapon Texas,
Rever D'une Personne Qu'on Aime Islam,
Steve Cotterill Married,
Articles A
airbnb differentiation strategy