Are you curious about what an Airbnb revenue management company does? Suscintly, we maximize your Airbnb's revenue, while minimizing your time commitment and stress. How does that happen? Let's break it down...
We Handle All of Your Airbnb's Pricing
You no longer have to worry if you've priced your nights too high and are missing out on bookings, or if you've priced your nights too low and are leaving money on the table. We will analyze your market and listing so we know exactly what pricing strategies to impliment. We also optimize your listing to make sure all your settings and selections allign with what we know makes the Airbnb algorithm happy.
Pricing Impacts Your Occupany Levels
Pricing isn't just about how much you make per stay. It also directly impacts your occupancy rate. Your occupancy rate is how many nights each month you are booked. It's important to use dynamic pricing software to capture high rates for desireable dates like holidays, festivals, concerts, and even college graduations near your Airbnb. Guests are willing to pay top dollar for specific dates and that's an easy way to maximize your revenue.
On the flip side, a Tuesday night in February may not be very desirable. You have to meet the market where it is - every single day. This means lower prices during some weeknights and increasing your should night's (Sunday and Friday) prices to push guests into booking mid-week stays. You need to maintain high occupancy levels to please the Airbnb algorithm.
Occupancy Impacts Your Page Rank
Occupany rate directly impact your page rank. Airbnb only makes money on properties that book on their platform, so it makes sense that their algorithm put the "winners" with high occupancy/close rates on the first page of search. If your Airbnb isn't fully booked, you're not making their algorithm happy - and your page rank is going to plummet (whomp, whomp.)
If your calendar is mostly booked, but across multiple platforms - Airbnb doesn't "see" your property as booked. They only see what nights are booked on the Airbnb platform, and move your rank placement up or down accordingly.
Page Rank Impacts Your Revenue
As an Airbnb revenue managment company, we constantly monitor our client's Airbnb's page rank and adjust their pricing to keep them booked and on page one of Airbnb search. Why does that matter? Only 18 listings are shown on the first page of search, and most potential guests don't look past the first page. Think about it. When was the last time you went to page two of Google search when you were looking for something?
If you're on page one of search that means every guest looking for a place to stay in your market sees your listing. The more people who see your listing, the more who end up booking your Airbnb. The more your Airbnb books, the fuller you calendar is, which makes the Airbnb algorithm want to show your listing at the top of search. It's a beautiful cycle as long as you are keeping up with it. It's an ugly downward spiral if you don't pay attention and make incremental adjustments.
This is why so many people look for an Airbnb revenue management company. They can deligate all the numbers, monitoring, and adjusting and be confident that their investment is making the most about of money it can.
How Much Does a Revenue Management Company Cost?
Sounds expensive doesn't it? Fortunately, we're awesome and able to charge $300 per month to make your Airbnb a "winner" in the algorithm's eyes - so you stay on page one, fill your calendar, and your guests pay the most for a place in your market on any given day. That is the art and science that leads to our clients making 53% more than their market's average.
Curious if we can help you? Schedule a free 30-minute discovery call so we can explore your portfolio, market, and sitution!
