How Did Airbnb Become The Global King Of Vacation Rentals?
Airbnb Become The Global King Of Vacation Rentals
Airbnb was founded in 2008 by two friends who had the idea of converting their living room into a bedroom by laying beds in the living room because market room Vacation Rentals were too high for students to afford. They started it as a business through an online platform in San Francisco as part of their concept.
The method by which they came up with their idea became popular among business people looking for low-cost rooms for business trips and conferences. On the other hand, hosts with extra rooms at their homes can rent them out to paying guests for as long as they need it.
Airbnb’s Business Model Overview
Airbnb’s concept is intriguing because they will not own any properties and will not serve their guests; instead, they will bridge the gap between hosts and guests. Airbnb has played a significant role in capturing the trend and providing excellent service to its customers.
Users prefer Airbnb for vacations because of the affordable prices that meet their needs. Airbnb clone business model has two important components: users and service providers, and it requires the least amount of capital. Airbnb increased its efforts to provide customers with innovative services while also generating significant revenue for the company.
How Airbnb Works
Airbnb is a platform that connects users and hosts. Airbnb hires a freelance cameraman to take a high-resolution photograph of the listed resources. The user creates an account and logs in to the website, where they can search, find, and book rooms from the available lists. Hosts can list their property along with the amenities that are available to users.
When a user requests service, the host confirms it by sending a notification message to the users. After confirmation, the user pays the rental fee using the website’s payment gateways.
- Airbnb’s Revenue Source
- Hosts pay a commission, and users pay a transaction fee.
- Every successful booking made through the Airbnb website incurs a flat ten percent fee from hosts.
- Airbnb charges users a transaction fee of 3% of the total booking amount for each confirmed booking.
- Airbnb charges guests a service fee ranging from 5% to 15% of the total reservation price, with hosts receiving a 3 percent commission.
Pamphlet for Airbnb
Airbnbmag is a $15 manual that is different from other manuals in that it also serves the guests by providing specific amenities. Airbnb and Hearst have teamed up with the goal of making tourists feel as if they are a part of the special place they are visiting.
Business Managers Who Care
Airbnb has its own set of standards and features for providing excellent service to its customers. Business manager who visits their hosts to inspect the facilities, home type, check-in, and evaluate user reviews before responding appropriately.
Airbnb Marketing Characteristics
Airbnb’s business model is “the customer is king.” An Airbnb customer is someone who contributes to the company’s revenue. Either the host or the users are to blame. Customer satisfaction is crucial in increasing a company’s brand awareness and exposure. As a result of how Airbnb handled user reviews and ratings of their services and how they minimized the error with positivity, they attracted a large number of users. Branding is influenced by a number of powerful factors, including:
- Word-of-mouth marketing
- Marketing on the internet
- Promotional offers and coupon codes are available.
- Refer and earn on social media.
- Affiliate marketing is a type of marketing in which you
- Airbnb’s turnover
- The company was valued at $31 billion in March 2019.
Airbnb has a presence in more than 34,000 cities in 190 countries. To date, the company has served more than 35 million guests and has 1.5 million property listings. Airbnb’s listings have accommodated over 6,000,000 people for their enjoyable stay.
Airbnb’s Prospects
Airbnb is a multibillion-dollar company that is almost universally available. People prefer this platform to hotels because of its unique service facilities that cater to the needs of the users. It is now looking into increasing the number of daily deals on its platform.
How does a website like Airbnb operate?
Guests will log in using a variety of methods, including Facebook, Google, and email. The host will add more listings to the mix.
But, listings will be chosen by the guests based on their preferences.
The guest must send a booking request to the host via multiple booking options, including instant booking and request to booking, and the host will add payout.
Because Instant booking options allow guests to book immediately without waiting for confirmation from the host, while request to book options allow guests to send a booking request and wait for confirmation from the host.
The host has the option of accepting or declining the guest’s request.
The guest can check into the platform after receiving approval from the host.
Steps required to create a website similar to Airbnb
1. The requirement for gathering information
The complete analysis, understanding, and gathering of basic requirements is the first and most important step in developing a website like Airbnb. It will not meet the business goals and expectations of the customers unless requirements are gathered.
Gathering requirements has several advantages, including reducing rework in the development process, facilitating faster delivery, lowering development costs, and increasing customer satisfaction.
2. Conceptualization
Following that is the process of designing based on the requirements gathered. It is critical to the success of a website such as Airbnb, where the user is drawn in by the design and is able to participate in the start a house rental business platform.
The goal of design is to provide a smooth and trouble-free user experience with a rich appearance.
3. The development process
Here comes the most important part, which begins with the coding process in accordance with the design. The coding process is divided into three parts: front end, back end, and APIs.
4. Validation and verification
Testing is an important part of the development process for any website or application. But, It will carry out at every stage of the development process.
Testing is primarily use to identify and resolve bugs. Smoke testing, unit testing, functionality testing, performance testing, and other types of testing will carry out.
5. Upkeep and support
After the testing is complete, the final stage is to launch the site. And launching stage marks the start of the market phase. Prepare to launch your website like Airbnb with the help of a skilled team of professionals.
