4 Best Marketing and Advertising Strategies of Airbnb
Giving a satisfying guest experience is step 2. The first step is always to reach customers, and Airbnb excels here.
Airbnb listings are spread across over 100,000 cities globally. So if you think providing an exceptional stay will boost your occupancy rate, you couldn’t be more wrong. Implementing a consistent Airbnb marketing strategy will.
The article enlists the fundamental marketing strategies and deep dives into some successful marketing strategies of Airbnb that you can use for your business. Let’s get to it.
Airbnb Marketing Mix (The 4 Ps)
Of all the available marketing strategies, the four Ps–product, price, place and promotion, together are called a ‘marketing mix’. The four Ps were formally conceptualized by E. Jerome MacCarthy, after which many companies use this as a foundation business model.
Airbnb has paved its way to success through this model. It analyzes the brand with this business model covering the 4Ps. Let’s look at all four Ps sequentially.
Product
The primary goal of Airbnb’s product strategy is connecting travelers with hosts offering accommodations via an online platform. So its platform itself is their product.
Its offerings vary from affordable vacation rentals to expensive luxurious rentals. Moreover, it allows users to choose a place for one person to book an entire place. The platform also offers ease of use, user-friendly design and offers an array of appealing rental listings.
Pricing
Airbnb’s pricing strategy is based on the concept of peer-to-peer pricing, wherein all the hosts set the prices for their listings.
The platform offers various options that fit their budget, and Airbnb charges both the host and the guest for using the platform. Since all transactions happen on the platform, the money is transferred to the hosts within 24 hours of payment. Moreover, the hosts have standard cancellation policies for when guests cancel the booking.
Place
Airbnb isn’t limited to specific places but operates on a global level.
The platform enables users to access listings and book rentals from all places, offering an accessible and convenient service. Its reach also allows travelers to find accommodations in popular and unpopular locations.
Promotion
The advertising and promotion strategy of Airbnb needs to promote to both guests and travelers to keep its rental system operating properly.
It uses a mix of conventional marketing strategies, including referrals, word of mouth, and paid ad campaigns. Moreover, it effectively prompts its services to travelers with the help of marketing segmentation.
It’s worth noting that Airbnb doesn’t limit its marketing strategies to just the 4Ps. Its marketing strategies involve additional elements that go beyond the fundamental marketing mix. However, it’s best to contact renowned tourism marketing agencies to take a safer and more strategic route to devising marketing strategies.
Now that we know about Airbnb’s foundational marketing model, let’s look at strategies that sets it apart.
The Marketing Strategies And Tactics That Set Airbnb Apart
While the brand continues to follow the basic 4Ps when devising a marketing strategy, it goes above and beyond them to leave its footprint in the digital world. Let’s look at four Airbnb marketing strategy examples you can use as inspiration.
Leverage user-generated content (UGC)
Giving control to the users is the most creative and effective way to market a business. Airbnb turned to user-generated content wherein they asked a few people who were good at photography to book an Airbnb and submit photos with their friends or family to Airbnb.
Through these photos and videos, the company tapped into the feeling of nostalgia, inspiring the audiences to think about their meaningful trips.
Moreover, UGC is a great way to save money on content creation while increasing social media engagement. However, this strategy won’t always work. If you struggle to market your business digitally or need help figuring out new marketing methods, reach out to marketing agencies. You may benefit more from professionals than asking customers to take photographs to ensure you get the desired outcome.
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Airbnb’s “live anywhere” campaign
The marketing strategy of airbnb has never fallen short on innovation.
It launched a campaign “live anywhere” in 2021 that promoted long-term ads and drove bookings for the platform. Through this campaign, twelve people got the chance to live in a new Airbnb location each month for a year, with all expenses covered. All these individuals shared their experiences on social media to give a glimpse into their lives like a local.
This campaign generated a noticeable buzz and engagement on social media. It received over 223 million impressions and the brand witnessed a 10% rise in long-term stays during the campaign run. While you can come up with such campaign ideas yourself, consider approaching hospitality marketing agencies or consultants that can help you figure out such campaign ideas for your business.
The “Airbnb It” campaign
“Many people have spaces like these but don’t think of them as Airbnbs.”
With its “Airbnb it” commercials, Airbnb encourages more and more people to become occasional hosts. This campaign motivates potential hosts to look beyond what an Airbnb looks like. Through this campaign, the brand enables consumers to become hosts of places they own but don’t occupy all the time.
Lean Into Your Hook/ live like a local
Local before global, always.
Airbnb has always focused on allowing travelers to experience the location as a local. This belief gets reflected across all their marketing materials, where their users’ experiences are at the core.”
“Live like a local” is one of its first big-scale marketing campaigns, focusing on serving users seeking an unforgettable travel experience.
A consistent Airbnb marketing strategy will give you a big edge over your competitors. Take inspiration from the examples in this article and create your marketing strategy. The best part about creating marketing strategies for travel agencies is you get to be creative and explore numerous ways to engage with your audience. Have fun marketing!
