Topics Covered in this Airbnb Quick Tip:
3 steps to implement the New Listing calender strategy
Think of it like if you are a company. And your releasing a new products what you’re gonna put that products through some testing.
Even if you’ve already released, for example phones, you bet. They don’t just released a new iPhone, there’s a lot of testing that goes on.
They give it away to people, have them tested and even when they sell an apple retail price sometimes, they’re still issues.
So the whole strategy behind this is:
You want to give a huge discount to guests, so when things go wrong they’re getting a discount and they know that, They’re still going to give you a five star review.
Because these first reviews are very very important. If you got one negative review in the first five, let’s 20% negative review rate.
What’s up Airbnb nation today I am in Almaty Kazakhstan. I’m sitting behind the apple, which fun fact all the apples on planet earth originated from Almaty. It’s called Ulica in Russian.
This week’s Airbnb quick tip is a new listing calender strategy.
If anything becomes a little bit confusing, I’ve written a blog post with pictures, so please refer to it if any of this gets confusing.
One cabbie ought to this new listing calender strategy is that it’s a long term strategy.
If you’re just going away for a month or a few weeks, this does not apply to you.
Also this strategy is for all the new listings. Even if you’re an existing host, as long as you’re creating a new listing then you should follow this new calender listing strategy.
So how do we follow the new listing calender strategy in three steps:
- First step is you want to block your calendar only availability of three weeks.
- Second step is set the minimum and maximum one to five nights. So minimum is one night Max on this five nights. Reason being you wanna get three reservations quick. You don’t want a month long booking at a discounted rate.
- Third step is you’re going to discount your listing by up to 30%.
What this will do is:
Over the next three weeks you’re going to get some bookings real quick. You’re going to get one, two, three, four night bookings real quick.
The whole point is that you get three reviews.
The goal is to get three five star reviews. Once you get three reviews then, within the search results you’ll see the stars in the search results.
Before three reviews zero, one and two reviews in the search results your future potential guests they don’t see reviews. That’s the goal.
Now of course while you’re getting these reviews, you are going to respond to the reviews.
I have a blog post on that as well but I will link to down below.
Once you get that third review, this is a crucial step; at that point you’re going to open your calendar up three to six months into the future.
But be cognizant this day, because what you’re telling Airbnb is, you’re a valuable listing. You have all these bookings up front. People book your listing, your listing is in demand.
And now you’re telling Airbnb, they just open up their calendar they’re giving us more revenue let’s make them proud, let’s give them reservations.
In addition you’re gonna be underpriced so, once you open up, you’re going to increase your price. Just by 10%
Maybe not a lot but on this day when you open up your calendar, you need to have access to your third party pricing tool. Ideally Price labs.
Again for that too I’ve written up detailed review and I even have some videos on price labs.
The reason why you want to have access to this tool on this day is, because you might get the common scenario that you’re gonna get a bunch of reservations right away.
And if you start getting one, two, three and it could happen in an hour; you’re getting a good listings are getting hundreds of views, maybe a thousand of views a day.
This could happen very quick. If you start getting a bunch of reservations then, you want to raise your base price a little bit more.
Because after following the strategy, you don’t want to give too much of a discount.
It’s good to start off, slow and raise the price slowly. But if you’re getting two, three reviews right away you know that your way under price. So then I say raise the base price another 10% and if you still keep getting bookings, it’s okay to give away a discounted booking by the way.
I get some questions “Hey on the new listing I just give away weeklong booking at a hundred Bucks. It should be like a two hundred.”
It doesn’t matter that the guests got that booking if you’re a long term thing then it doesn’t matter.
So on that day that you open up your calendar you might need to raise the price. You should raise a 10% initially. You might need to raise it more on that same day.
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