** Airbnb innovates for medium-term stays: to be implemented! **
💯Receive the free book by email (the 6 mistakes that make you lose money) by joining my private group on Facebook 💯 https://bit.ly/2KRS5WK
(don't forget to enter your email to receive the bonus)
⚠️ Subscribe to this channel and 🔔 click on the bell 🔔 to stop saying to yourself: “what was the channel that gave good ideas on prices? » https://bit.ly/2OLq0lx
#jannoncecomplet #loueursaisonnier #revenuemanagement #pricing #airbnb #booking #prix #immobilier #rentalsaisonniere #airdna #gite #maisondhotes #rentability #eliseripoche #souslet #conciergerie
Hello, and welcome to the “I'm showing full” channel, the channel that helps professional sub-renters, seasonal rental companies, and seasonal rental concierge services to increase their turnover. If you have not yet subscribed to the J'poster Complet channel, do not hesitate to do so, for several reasons. Already, because it alerts you when I arrive live every day from Sunday to Thursday, and it allows you to join me, to say hello. Besides, don't hesitate to say hello when you arrive. It also allows you to ask me your questions during the live. It'll also support me, obviously, because as you imagine, it's a pretty colossal commitment of time and work to make these daily videos. So please let me know that it helps you, and that you would like to keep it going.
Today, we are going to talk about something that I found on Airbnb which seems very important to me to mention, to explain, because I have often criticized something at Airbnb, and I am not sure that it is followed to my critics, but in any case, they brought an innovation on this point that I criticized so much. So, I tell myself that we must honor this innovation that they brought, and promote it, share it with you. This innovation will help you if you want to capture medium-term reservations. What do I mean by medium duration? Reservations of seven nights, fourteen nights, or twenty-eight nights. So this will help you enormously, and it can also help you if you don't have a channel manager. If today you are an independent seasonal rental company operating without a channel manager… no, wait. I'm telling you something stupid. Because it can also help you if you are a seasonal rental concierge, but you just have to put it in the Airbnb interface. Let's forget this last point which was totally wrong. It will help you, whatever your situation, whether you are a professional sublet, or a seasonal rental concierge. The only thing I specify, this is why I got a little confused, is that if you currently have a channel manager, you will not be able to implement this lever in the channel manager. You will have to go to the interface, to the Airbnb extranet. So. That's correct.
− Hello to you. I don't see your first name, but hello. Welcome to this live.
So what is this innovation that Airbnb has made? I'll start with: what is this thing that I've been criticizing for some time at Airbnb regarding the average duration? The criticism I've been making of Airbnb all this time, and that's not the case on Booking...
− Hello, welcome to the live.
This is because on Airbnb, until now, we were obliged, if we wanted to do medium term, to offer more attractive prices for stays of seven nights, fourteen nights, twenty-eight nights, we were obliged to authorize, to impose a percentage reduction which would, in fact, be spread across the entire calendar. And in my opinion, when we have a revenue management logic, it is extremely problematic, since depending on the period, there are a certain number of periods, notably those which are strong or very strong, over which, in fact, this does not make sense to grant a percentage reduction, even if travelers stay a long time. We are in a situation where we know we are going to sell out, and we want to do it at the best price. So we have no interest in making a percentage reduction. If you are in a seaside area, in August, even if the person tells you: “I'm going to stay a month. » Yes, it can stay for a month, however, it will be at the displayed price, we could not make a reduction. This is the good revenue management logic behind this subject of medium durations. So, it was a shame until now, because we couldn't discern between periods. We had to spread a percentage across the entire calendar.
They made an innovation, which I will tell you about. I didn't plan to share the screen for the simple reason that I saw this innovation through a client's Airbnb account. Today, as you may know, we work for around ten seasonal rental concierge services, and we optimize more than 250 properties. And so, it was by going to the Airbnb account of a concierge client that I realized this. So I'm not going to share the screen to respect confidentiality, obviously, but I'm going to describe to you how you can get to this innovation that I'm talking about.
The path is as follows. Take a notebook, a pencil, write down. Maybe it will speak to you too, since the screen is quite classic. So, you click on your ad, and you go to the pricing part. Until then, I think you know it by heart. I'm sorry, I'm looking to the side. It's because I have my screen on the side. Once you are on this pricing page, you probably know it by heart, we have the possibility to put a reduction per week, a reduction per month, and add reductions for other types of stays: six days, ten days , etc. The new thing is that when you click on "modify", you are now given two options: either to put a percentage in the month which will be positioned on all the months of the year, or, second option, to set a personalized price for a particular month. And that’s what’s interesting, I find. This is where, in fact, they respond to this optimization problem that we had on this. I think that the fact that Airbnb is moving towards more and more long stays has obviously meant that this point has been raised, that we cannot make an identical percentage all year round. In any case, for professionalized structures, we cannot do that. This is detrimental to performance maximization. So, that's why, I think, they did that. So, concretely, either we put the percentage, or the second option, and this is what I'm going to talk to you about today, we click on "set a personalized price per month". You have a whole bunch of paragraphs which will explain to you that if ever there is a stay which takes place over two different periods, it will prorate the prices. I'll explain that to you right after. On that, you simply have to click “add”, and you have the possibility to choose the month in question on which you want to grant the price, and the price that you will grant for an entire month. So. So, that’s innovation. It may seem relatively trivial, but it's frankly something quite important that Airbnb has launched, it will really allow us to have a differentiated logic depending on the month, and not to do something which is potentially detrimental for turnover performance.
Just the little technical disclaimer that they indicate — I admit, I had to reread the thing twice to try to understand what they meant, so I'm giving you the explanation right away to help you win time — they will explain to you that personalized prices also apply to travel that overlaps between several periods. I'll give you a concrete example. If you have indicated that your price for the month of February is going to be 500 euros, and you have a traveler who is going to stay for 28 days, therefore one month, from mid-January to mid-February, which we explains this little paragraph, is that the traveler will access a price which will be, in mid-January, the January price, and at the beginning of February, he will be able to access your reduced price that you have setting. So 500 euros, divided by 28 nights in February, you have a price per night, and this is the price that the traveler will pay for this stretch of the period from the beginning of February, since their overall stay is indeed one month . So, this responds to your request to only make these prices for a one-month stay.
I hope this explanation has been clear, and not too technical. Don’t hesitate to look in your Airbnb interfaces. You'll see, it's quite simple, actually, even if it can be a little time-consuming to set up. For me, it's really an incredible opportunity to be able to do medium term, at an attractive price, without jeopardizing the periods of high demand, or even very high demands that we will have, I hope, in 2021 , which will allow us to increase turnover compared to what we did in 2020. That's it.
I take back the messages you sent me. If you ever have any questions, don't hesitate to ask me. If this subject of prices interests you more, you can also join our private group which is called “seasonal rental prices and maximization of turnover”. When registering, do not hesitate to leave your email, because you will automatically receive the bonus of the six mistakes not to make when determining your prices. It is a summary of the errors, and the solutions. This will really help you increase your turnover. This is a great place to start, so don't hesitate to sign up. The link is just below or above, depending on whether you're on Facebook or YouTube.
− Hello Marie-Jo: “Great news. » Top, you share my enthusiasm for that.
− Hello Sylvain. Please.
− “With the rules? »
It must have referred to something I said during my speech, and I don't know when I said it. The rules of what? I would like you to enlighten me on this, because in fact, I no longer know in what context I said that. I completely forgot.
− Marie-Jo: “Indeed, I went to find out the monthly rate for the whole year. »
Top, Marie-Jo. And you see, that's interesting, because there, if you tell me that you did it throughout the year, I could share with you a tip that allows you to increase turnover: if you know that you have months in which demand will be strong or very strong, and you can already withdraw your monthly price for these months, because in the end, you have no interest, except perhaps a purely operational interest, that is to say that there will be fewer households and less traffic, but here we confine ourselves to the part of maximizing turnover, during peak periods or very strong, it is better not to grant a monthly rate. If you put this in place, you will immediately be able to see the increase in turnover.
− Hello Axelle. I hope you're well.
− Hello, Sylvia, welcome.
− Marie-Jo: “I had difficulty defining my monthly rate: I took two weeks, or 50% reduction. Maybe it's a lot. »
Marie-Jo, you asked me for a video on: how to determine your medium-term price? I made it, this video, and I made it yesterday. Maybe you missed the video. It wasn't yesterday, it was Monday. Monday, I made the video, so I invite you to go to the YouTube channel I display Complete. You'll see, you'll find her right after this video. I did it at your request, and at the request of others. It will help you a lot. In the video, I explain that validating a percentage reduction like that is ultimately almost impossible. In any case, I would be a charlatan if I claimed to have a divine truth on this to the extent that you have to see what your base price is, and see the market. I explain all this in the video, and it will help you a lot, I think.
− “There is a system of rules that can be set with predefined periods (minimum night, reduction, etc.)
Excuse me, I'm looking at the Airbnb interface on the side again. Indeed, there are a whole bunch of rules: weekly or monthly discounts, early booking rules, last minute rules, etc. I could make a video for you, if you want, on these rules. Those which, in my opinion, should definitely not be used, that should definitely not be put in place, because there are often pitfalls. There are also pitfalls in channel managers, by the way. But I could make a video for you on that. Tell me if you're interested. But in fact, this interface does not only contain reductions linked to stays of a week or a month. Exactly. Very good point.
− Axelle: “It seems that Airbnb does not apply its 15% service fee to the owner if the latter is not on the channel. Are you this information?”
When I made the video to explain in December that Airbnb was going to change its percentages, how did things go? There are a certain number of people, hosts, who immediately saw these percentages changed. Many others received emails, in fact, that said, “Your percentage will change,” which confirms this Airbnb change. This information began to surface in early December that this change would be limited to people who have a channel manager. So, at the time, what I did was I wrote to our contact at Airbnb, whose name is Adelaine, to ask her if it's true that it's limited to the channel manager, or if it's an urban legend to get the information from the source. At the time, he told me: “No, it's an urban legend. It’s going to be for everyone.” Except that it is clear that there are still many hosts who have not yet passed this change of commission. I don't question what Adelaine told me, but I tell myself that perhaps this evolution of the commission takes time, and in which case, it is the more professionalized actors who have the most assets which change first, which could be a first hypothesis. In any case, it is true that not all the modifications were made at the beginning of December. It grew stronger over time. So, I make this hypothesis. Was Adelaine wrong in what he told me? Everyone makes mistakes, I don't know. In any case, I'm sharing with you the information I got. Maybe it will happen eventually. I don't think Adelaine was wrong. I would also bet on the fact that these are not changes that happen overnight. I understand that a company like Airbnb initially favors players who are a little more professional, and therefore, if we summarize, those who have a channel manager. This is the information I have on this point, to enlighten you as much as possible on this subject.
− But I think it’s another feature.”
That should refer to the rules.
− Marie-Jo: “I put the three-week rate on July-August.”
I know neither your city nor your property; nor seasonality. But in any case, if July-August, for example, is a strong or very strong period, even putting a price for three weeks ultimately makes no sense. From the moment you know that you will be able to rent and fill at the normal price without a discount, it really doesn't make sense to put a discount; Well, it doesn't make sense, it's hard to say that, it's just that in fact, it makes you miss out on a turnover that you would have obtained otherwise. So, it's a shame. That's just it.
− Jérémy: “Hello. Thank you for all these elements. A quick question: airbnb still collects the tourist tax, and does it still pay it to the city hall?”
I wouldn't want to talk nonsense about that. You have to check. I don't prefer to comment on that, because I'm not sure. So, check directly with your town hall. I think this is the best solution.
− Axelle: “Yes. Good idea to make a video about these rules.”
Top, I take note that this is a good idea. THANKS.
− Derien Jérémy.
− Hello, Christine, welcome.
− Axelle: “Thank you for your insights into Airbnb.”
Great. I'm glad if this video was able to help you. If you have other ideas for topics that are problematic for you at the moment, and you would like to see a video on that, if you want to ask me my opinion on certain topics, if you want to ask controversial questions , I love controversial questions, so go ahead, please ask me these questions. Ask me any questions that might help you. In fact, I continue to make videos, as I said, from Sunday to Thursday. Today is Wednesday. Tomorrow, you will see the video of an interview that I carried out with a quality partner. You may have seen, I do a lot of interviews. Every Thursday, it's always an interview with incredibly inspiring partners who give us ideas for our super impactful, relevant, and operational seasonal rentals. It's like the videos that I make, in fact, it's not nebulous, it's immediate concrete. I'm not going to reveal the name of the person I'm interviewing, but don't miss out, it's going to be a very interesting interview. Take care of yourself.