Hey everyone! Matt Hunter here again with part 2 of this jam-packed blog series. If you haven’t read the first one, take a quick read here. I explored lots of tips for helping YOU become the best Airbnb host you can be! Since I posted my last blog, I knew there were some other technical pro-tips that I left out and wanted to touch base on, which is why I am writing the sequel! In this blog, I am going to be talking about the Airbnb algorithm a bit more, and what you can do to rank as high as you possibly can! The tricky part about the Airbnb algorithm is that no one person is truly an expert at knowing how the algorithm operates since Airbnb doesn't release that information to the public. Still, based on the experience of myself and many other hosts, as a community, we can make lots of accurate guesses about the algorithm, which is what I am going to share with you today!
Before I dive in, I wanted to quickly mention that if you liked this blog or enjoyed part 1, then consider scheduling a call with me to discuss your Airbnb operation! In my personal experience, working with someone to talk to about your professional goals is paramount to achieving success. Over the years, I've hired countless coaches and consultants who knew more than me to teach me how to be successful in what I want to do, and without them, I would not be here writing this blog for you! So without further ado, let's get started!
Streamlining Success on Airbnb
Streamlining your bookings is key to success on platforms like Airbnb. Instant book is a REALLY important tool in this regard. When a potential guest is browsing Airbnb and looking to book a place for the night, most likely they're emotionally invested and already excited about their trip and want to book quickly before it’s too late. Instant book allows them to do just that! It eliminates the need for inquiries, responses, and delays, ensuring a smooth booking process. If you don't offer Instant Book, you risk lower visibility on Airbnb, which obviously is not ideal. To ensure a level of security, you can set parameters so that way you can protect your Airbnb as well. For instance, you can require that guests have previously stayed with Airbnb and have at least one 5-star review. If they meet these criteria, they can book instantly! This streamlines the process while maintaining some safeguards. I can not tell you how helpful this tool has been for us in getting more bookings. That is why I am starting off strong by sharing one of my biggest secrets with you first!
Always Remember to be Flexible First!
Believe it or not, flexible booking and cancellation policies can also work in your favor. Airbnb prioritizes guest satisfaction and convenience (who would’ve guessed?). By offering flexible booking and cancellation options, you're more likely to rank higher in search results. This might seem counterintuitive since we want to retain money and not lose an opportunity to host, but Airbnb's goal is to attract guests and keep them on the platform, thereby generating revenue. Flexibility and cancellations can help you achieve this! While flexible booking may result in occasional cancellations, Airbnb recognizes these situations and helps you bounce back. Cancellations may be disappointing, but they are often minimal, and you can usually rebook the canceled dates. The benefits of flexibility often outweigh the inconveniences by far. That is why Lisa and I have such a light cancellation policy, because we have experienced the huge benefit of having this in the long run!
Skip the Discount and Change your Pricing
When it comes to pricing, resist the temptation to offer discounts to guests who ask for them. Guests seeking discounts are often demanding, picky, and challenging to deal with, making their bookings less desirable. Instead, consider creating deals and reducing pricing for specific days or periods! The goal is to get guests into your property, signaling high demand and making your listing more attractive to the Airbnb algorithm. Plus, having guests stay in your property is an opportunity to receive positive reviews, which can significantly boost your credibility! (read all about reviews in my previous blog)
Even if you're concerned about lowering your rates, consider the value of securing a booking, offsetting some expenses, and garnering a five-star review. Playing with pricing can be a strategic move, and dynamic pricing tools like PriceLabs or Beyond Pricing can help you manage it effectively. They adjust your prices based on demand, optimizing your revenue while keeping your listing competitive!
Repeated Bookings are Key to a Strong Algorithm Health
And one more pro tip for improving your Airbnb ranking is to encourage repeat bookings through the platform. I repeat, REPEATED BOOKINGS ARE SO GOOD! Airbnb loves hosts who retain guests. When someone stays with you and then rebooks on Airbnb for another visit, it sends a strong signal to Airbnb that your property is a rare find and very valuable. Therefore Airbnb recognizes you as a valuable host, and it suggests that your property is worth featuring on their main pages! This triggers a significant algorithm boost, enhancing your visibility and you get more bookings!
One thing that I like to do periodically is to reach out to past guests who have stayed at your property through Airbnb to let them know you're accepting bookings for future dates, and encourage them to book again through the platform. We actually have an email list that we nurture and there is where we will remind friends, family past guests, and followers of our brand about open dates and such! This approach is preferable because it maintains the security provided by Airbnb in terms of payment, vetting, and handling cancellations rather than marketing them and booking off the platform. Booking directly might seem tempting, but the benefits of using Airbnb far outweigh the convenience of booking off-platform! There is security and reliability provided when using Airbnb.
Taking this approach, you'll experience rebookings and a significant algorithm boost. It's not uncommon to see a boost in your ranking and a higher percentage of rebookings, even if it starts at just a 6% rebooking rate like ours, meaning 6% of our guests stay in the same home again! This percentage may not seem extraordinarily high, but in the Airbnb world, it's a significant achievement that can translate into higher visibility, more bookings, and glowing reviews!
I really hope that these tips and tricks for getting more bookings and reviews were insightful and that they help you earn more money! If you want to have some one-on-one time with me to ask questions and learn more about getting started on Airbnb, I would love to talk! You can book a call with me here, and we can discuss how to get your properties listed higher on Airbnb!