Airbnb Success: Know Your Guests’ Demographics

Hey, what’s up guys, in this video, I’m going to share with you some tricks that I’ve learned to help you better understand your ideal guest avatar, the demographic of people coming and trying to stay with you at your short term rental property. Now, a lot of you’re probably wondering, Well, why is that even foreign? Why should I care about that. And the reason is simple, the better that you understand the ideal guests that are coming to stay with you, the more you can cater the experience that you’re offering to those people, which is going to ultimately cause you to have a higher booking rate, a higher repeat guest rate, you’re going to be able to charge a higher nightly rate, you’re just going to find that your overall performance rises up dramatically, the better that you understand your ideal guest and cater your property, your amenities, the overall experience towards those ideal guests. So that’s really the reason that we do all this is we want to better understand how we can make our property better for those ideal guests so that they’re going to book more often, they’re going to return multiple times, and they’re going to pay a higher nightly rate to stay at our property. Here is my first tip for how to do this. And it’s looking at reviews. Now, when you’re first getting started with a brand new listing, you aren’t going to have your own reviews to look back on. So what you really want to focus on is some of your top competitors go on Airbnb and find other properties that are very, very similar to your property, and they’re in nearby locations, then go down to the reviews. And I don’t want you to I don’t really even care about actually looking at the ratings of these properties. What I specifically want to look for is the individual reviews, I’ll go grab those individual reviews and just look at them and start to look for exactly what comes up consistently. Now on the negative side, you might see certain things that come up as a negative trend that people are always complaining about a specific thing. And then what you also want to really keep your eyes peeled for is the positives that keep coming up again and again and again. And again. And again. Now this is going to give you a really good indication of what people absolutely love about these properties. And the things that they’re not so happy with, then obviously the next step from there is just making sure you avoid doing any things that are upsetting guests. And make sure you do more of the things that guests are constantly raving about. So for example, if a guest keeps on saying if multiple guests keep on giving the feedback, that it’s so awesome that the host has a hot tub. Well, that’s a really good indication that that hot tub is going to be a valuable amenity. There are other things you can do like using price labs and different tools to better understand those metrics and the actual worth wildness worth wellness. I don’t know if that’s a word of different amenities, which can be really helpful if they’re bigger ticket items. So for example, with a hot tub, you might want to go to price labs and look at the stats for your market on how many people book properties with hot tubs versus the amount of supply, because that’s going to be obviously a several $1,000 purchase to get a hot tub. Versus if you keep on seeing positive reviews about games board games that the guest or the the owner left at the property for gas, then that’s a purchase you can safely make without having to go into a whole bunch of analysis on it because buying some board games is probably only going to cost you one or two or $300 if you go all out for it. So that’s one thing I love to do. And I love to look for some of those amenities that come up. I also love to look for the reasons why people want to come back or the reasons why people stay there in the first place. So again, the reviews are a really great way to get this more qualitative data, because you can look at the photos of a property and you can hypothesise as to why someone would book it. But there’s nothing better than looking at the actual reviews to see what people are saying what people really had as a standout. They absolutely loved about the property. For some people, it’s going to be location. So if you’re investing in that area, then you know what exactly what people care about when it comes to location. Maybe they’re saying that it’s super, super close to a specific amenity. Or maybe they’re saying that it’s really, really easy to get transit. Or maybe they say that it’s incredible that the property had parking, whatever those things are, if you’re investing in a property in that area, you want to make sure you look for properties that have those amenities, so that you’re not missing out. So that’s how you’ll want to gather this information from other competitive listings. But there’s no better place to get this information then from your own guests. When they start booking with you actually ask us what made them want to stay with you what made them want to book your place over others. And then when they actually leave you a review, look at those reviews and really consider what you could do to make the place better what they’re really loving. Let’s do more of that, but they’re not loving so much. Let’s get rid of that and let’s solve those problems. Feedback from your guests is going to be one of the most important things to leverage in order to have long term success as a short term rental investor property manager host what have you guys just want to take a quick break here to say that for those of you watching, who want to build cashflow, and long term wealth by purchase Seeing Airbnb and short term rental properties. There’s a link in the description right down below for a free training that will walk you through my exact strategy for investing successfully in Airbnb s. Now if you’re not ready to actually buy properties, and you want to get started managing other people’s properties on Airbnb the same way I got started and build a full time income managing other people’s properties, there’s actually another free training linked in the description down below as well, that will be a really great fit for you. So whether you want to invest in short term rental properties and actually build amazing cash flow and long term wealth by acquiring the assets, buying the properties themselves, or you’re looking to earn a full time income managing other people’s properties on Airbnb, we’ve got some awesome trainings that are linked in the description down below, that will definitely help you out. When you sign up for the trainings, we’re also going to send you a few other tools and resources completely for free just to help you get started. Again, the links to sign up are in the description down below. And both trainings and all the tools are completely free. So make sure to register for the trainings, links in the description down below. So for example, with one of my properties, I got consistent negative feedback about a shed that was on the property that was a bit of an eyesore. Now for me, when I was setting the property up and getting it listed, I just figured it didn’t really matter. Because the shed wasn’t something that guests were ever going to use, it didn’t really look that bad. It just wasn’t really a big deal on my radar. So instead of doing the renovation and getting rid of the shed or cleaning it up, and it said, whatever, it’s fine, it’s a bit of an eyesore, but we’ll clean it up some other time. But because it’s a part of kind of it’s very close to the entry of the property. So it’s kind of leaves a first impression on people. And so I was getting consistent negative feedback about that shed and the way it looked. Now, overall, the reviews were still very positive. People love their stay, they had a great time, we had great ratings, but I was consistently getting feedback that the shed was an eyesore. So that was a really clear indication to me that in order to take this property up to the next level, I just needed to fix that. I also got feedback consistently from guests that this one staircase in the house had carpeting on it. And it always looked dirty, no matter how much we vacuumed and cleaned it, you could always see every little speck of dirt or sand. And because it was a jet black carpet, and it was a low pile. And again, when I was getting the property setup, I thought nothing of it. Because clean, it just looked a little bit dirty. It just looked like there was sand on whatnot. I figured no one’s really going to care. But it turns out, the guest did care. And so we removed the carpeting, and we put down different flooring on that staircase. So there’s all these things that we can improve. And those are small things that you wouldn’t necessarily get from researching other guests reviews on other places, because it’s so specific to your individual property. On the positive side, some of the feedback that we kept getting from guests what they loved booking our place for the geodesic dome, that specific property has a geodesic dome in the backyard. And it’s really, really great. It’s a cool unique factor about the property and people loved it. And so especially during the wintertime that was a big reason why people would come to the property was specifically just for the dome. And so along that line, we decided let’s make it even more comfortable for guests in there. In the wintertime, we added a space heater, we added a heated mattress cover, we added all these heating elements in there so that it could stay nice and warm and cosy during the winter time. We made sure that our maintenance consistently shovelled a nice path to get there. So they’re not traversing through the strip the snow to get to the dome, all these things, again, just another improvement that we made that we focused on, hey, V, this is why people are actually coming to our property, this is what they love. So let’s give them more of that. Because people were coming up because our place was close to the water, they kept on saying that was nice, that was close to the water, there was a beach nearby, we said, hey, let’s get some paddle boards, let’s get some things for them to use in the waters and they’ll kayaks, things like that. And so it’s just all these things that if you understand why your guests are coming up there, what types of people are coming up there, then you can better understand which amenities in which improvements you can make to the to the property that are going to cause you to get more bookings for higher nightly rates are really another great example of this is, you know, we found that a lot of families were coming up. And so we found that okay, let’s grab a high chair off of Amazon order it let’s go out, grab a pack and play crib and let’s order it so that now we can be even more welcoming and accommodating to families with smaller children. So there’s all these insights that you grab. And I find that so many hosts are so offended by the negative feedback they get from any any guests that stays with them that they fail to actually look at the value of the goldmine their guests are giving them telling them exactly how to make the property more attractive and how they can make more money and be more successful hosting as a short term rental host. So my biggest piece of advice to anyone that wants to improve their guest experience, get more bookings get more higher and IV rates. Its read your guest feedback, pay attention constantly be taking that feedback in and using it to improve the property and make it even better. You’re gonna get it to a point where or you’re consistently just getting incredible feedback from guests. And that’s only going to be achievable. If you constantly take into consideration any little bit of constructive or negative feedback that you’re getting from guests when you’re not at that point of perfection. And maintaining perfection is another old challenge, you’re going to want to make sure that your maintenance team, your cleaning team and your guests are alerting you to anything that needs maintaining the property to just keep up that high standard of excellence. So I hope this video has value from you. For you, I hope you got a lot of insight from it that you’re going to apply to make yourself a better host. Ultimately, I hope this helps you to be a better investor or a better property manager, whatever journey you’re on. If you want our free trainings are linked in description down below. If you got value from this video, please hit the like button hit that little thumbs up button there give this video like it does help me out tremendously with growing this channel and getting these videos in front of more people and helping more people with their short term rental investing and management. 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