Welcome to Boostly Podcast Episode 338. This is a recap of my Facebook live where I talked about a guaranteed way to get more Airbnb bookings.
Here’s the audio for this episode:
Here’s the video for this episode:
01:20 How to get AirBnB bookings
03:40 Take advantage of dynamic pricing software
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Visual – YouTube
Audio – Boostly Podcast
Transcript from the Episode
As the title suggests, there is one way that you can guarantee to get a booking on airbnb.com. And I’m going to talk about it today. Some of you may like it, some of you may not. But it’s one of those ways that you are guaranteed to get a booking, so heads on beds and all that jazz.
Now before we do, delve into it, and if you’re the first time that you are listening to this podcast or watching this podcast Hi, my name is Mark Simpson. I give host just like you to tools, the tactics to training, but most importantly, to confidence to get more bookings, more heads on beds, and ideally very by direct, but I know that a lot of you ask Airbnb questions, as I can see in the forums, and I can see it on the YouTubes. And I can see I can hear it on clubhouse. So I thought I would do a couple of videos on Airbnb, but we’ll help you to get more bookings on that platform.
Now, if you’re wondering who I am, then just go check out boostly.co.uk. This is the number one rated hospitality podcast that is the only podcast that goes every single day. And if you want to stick around for more, hit the subscribe button. If you’re on YouTube, hit the thumbs up button. But most importantly, please share, please share this in Facebook groups, share it with friends with peers with hosts with communities that you may be a part of, because I feel that this is the best resource to help you get more bookings. And this is totally free. There’s no charge for this podcast, just all I ask in return just make sure you tell our host about it.
How to get AirBnB bookings
Okay, let’s get stuck into it. So the guaranteed way that you will get bookings for your Airbnb, and you can take Airbnb and you can substitute in VRBO, you can substitute in booking.com, you can substitute in Expedia or anything is the price.
Okay, so quick break, you hear me talk a lot about marketing. And that’s because attracting your own guests is how you generate true revenue for your business. But like with everything else that I talk about, it takes time. And it takes not only a little bit of your time, but it can also take a large chunk of your time, if you try and do everything yourself, one of the things that I have very quickly discovered is automation and delegation. And this is what I love about Hostfully, and the thing that I don’t think a lot of people know is that a big part of that behind the scenes tools is automation, communication tools that are set up and designed to automate the process. There are companies out there that charge a lot of money for this. But with Hostfully, it’s all built-in as part of your service. So if your PMS doesn’t provide automation communication, then I would definitely look or maybe book a call in with Hostfully as soon as possible as sponsors of this podcast. So go and check out hostfully.com make sure you tell him that Boostly sent you. And as always, Hostfully thanks for sponsoring the show. I’m a big supporter and a big fan of everything that you do. And right now, let’s get back on with that show what we’re talking about. Thank you.
Now, again, I said some of you may like this, some of you may not like this. But just like any OTA, there are people on there that are just searching for the lowest price. And the thing and the reason why these otas have become so popular is because a lot of people feel like it’s a race to the bottom.
Now, there are ways and means that we can do this. And there’s actually a really cool way that you can look like you’ve got a heavily discounted rate. But really, you’re not let’s talk about that after but let’s talk about price. Secondly, so the best way to do this, if you’re going to do it manually, you can just go and look over the course of the next week, two weeks, three weeks in your local area, see what other hosts are doing. find ones that are a similar amount of bedrooms, facilities, etc, to you look at what the prices are and just undercut them by one or two euros or dollars or pounds, whatever it may be.
Take advantage of dynamic pricing software
But another way is to take advantage of these amazing dynamic pricing software tools that are out there in 2021. And beyond wheelhouse. Beyond, you’ve got price labs, there are loads of these now, softwares and tools available that were not available 10 years ago when I needed them. So take advantage of them. Utilize the database to again make sure that you are ahead of everybody else in your local area.
Let’s talk about the next one. Now Hands up, let me know in the comments. Who do you use as your PMS? Now let me know again, if your PMS of choice is able to mark up the price. Now, what do I mean by that? So say that your base rate is 100 pounds. What you can do is you can mark up your prices on Airbnb by 5-40%. I’ve seen 50% markup this summer, and people are still booking it. So what you can do is you can mark up your prices by say 50% so I’ll go to 150 pounds, say 150 euros $150 a night. And then what you can do is you can go into the opportunities section on Airbnb, you can go into the opportunity section on booking.com wherever it may be, and you can put in a discount.
Go on to Airbnb. And for last-minute bookings, you have a 25% discount off that price. For the guests, they think fantastic. I’m getting a sale here because again, these discounted rates will appear in a search result that nobody else is. But yet, you’re still making a 25% markup because they’re booking through the otas. Because Don’t forget, we’ve marked up 50%. You could if you wanted to, you could put a discount price of 45%. And you’ve still got a markup of 5%. It’s a cool little hack. It’s a cool little thing that I’ve not only seen people doing but I’ve helped people do over the course of the last couple of months. And it’s worked really well. Because again, the guest all they see is the discounted price for the otaa. Great because again, they feel like you’re giving a guest a massive discount. But for you it’s a win, because you’ve marked up originally from what it is that your direct booking prices. So that’s pricing.
Now I would love to know what you’re doing around this. Are you using dynamic pricing software tools? Who are you using? Are you doing it manually? How are you doing it? Are you doing the markup and tell us some wins? This is where I pass the conversation to yourself. Please leave it in the comments below on whatever channel you are watching us on. Thank you so much for stopping by. As always, let’s be proactive, don’t be reactive. Let’s go and get some more direct bookings. I’ll be back tomorrow. Thanks
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