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265. Unlocking Airbnb Success: Maximize Revenue and Bookings with Intellihost · Thanks For Visiting

0:00
Annette: SEGMENT GAP
0:01
Sarah: Hello.
0:01
Welcome back to another great episode.
0:03
My name is Sarah Karakaian.
0:05
Annette: I am Annette Grant, and together we are--
0:07
Both Annette & Sarah: Thanks for Visiting.
0:08
Sarah: All right, let's hop into this episode like we do every week, and then
0:10
as sharing one of you, our loyal listeners who's using our hashtag #STRShareSunday.
0:16
This is where we get to thank you for tuning in each and every week,
0:19
twice a week, and we'll showcase your property here on the podcast.
0:24
Who are we sharing this week Annette?
0:26
Annette: This week is @cedarmountainview.
0:29
All one word.
0:29
Again, @cedarmountainview, hosted by Amanda and Nathan in Tennessee.
0:35
Some great stuff I want to point out here.
0:36
Number one, they have, and I think anyone could, if they
0:40
have a family-friendly home.
0:42
They have some great games and games that all shapes and sizes could play.
0:47
So they have foosball.
0:48
The one thing that I love is they have some arcade games, and they also
0:51
have a super large Connect 4 game.
0:56
And I think that can be fun for children and adults alike.
0:59
Just really interactive, and I think a great, great idea.
1:03
They also have an air hockey board, so some great stuff in their game room,
1:08
and I'm sure their guests enjoy that.
1:11
Also, one thing I haven't really seen a lot of, they have these amazing
1:16
decals on their stairs, so it's a little design element that just
1:22
shows the guests that you're paying attention, that you're into design.
1:25
And also it's probably a safety feature too, giving you a little bit of a contrast
1:29
to the stair and getting up there.
1:31
I thought that was wonderful.
1:33
And then I'm pretty sure Amanda writes handwritten notes to all of her guests,
1:37
and we absolutely just adore that.
1:40
So thank you for using our hashtag.
1:43
And listeners, if you don't provide any games, this is your sign to buy some
1:48
games, even if it's a deck of cards.
1:50
Get something in case the guest staying at your home wants something to do
1:53
that's not in their normal activity.
1:55
So something simple, as simple as a deck of cards to get them started.
1:58
So thanks for using the hashtag.
2:00
Sarah, this episode is juicy.
2:05
Sarah: Yes, listeners, get ready.
2:07
We are going to give you insight into how you can improve
2:15
your Airbnb booking funnel.
2:18
Annette: All right.
2:20
And you're going to want to stay tuned because our guest is going to
2:22
go over the four steps in where you are losing your potential guest.
2:30
And make sure, after the episode, to check our show notes.
2:34
He gave us an unbelievable offer for the tool that he designed to help
2:39
you improve these four steps where you're losing your potential guests.
2:44
Sarah: All right.
2:45
Who wants more bookings?
2:46
I do.
2:47
Annette: Well, the question should probably be, who doesn't?
2:50
Well, wait, I don't know.
2:51
Sarah: Either way, I think all of us are like, our ears are popping up, but how?
2:55
And there's a lot of noise out there in regards to how, but today
2:59
we have a guest in the show who we know is going to be able to help our
3:03
listeners really figure out how to get more bookings backed by data.
3:08
So Jeff is a self-proclaimed data geek and has worked for companies large and small,
3:12
helping them convert insights into data.
3:16
He co-founded Loma Homes, which is a vacation rental company that focuses
3:19
on unique experiences and themes.
3:21
We've had them on the podcast before.
3:23
We'll share those episodes in the show notes, which is
3:24
why this episode is so cool.
3:27
This isn't coming from a "data geek" who has no idea about our business
3:32
and what our booking funnel looks like and what the industry looks like today
3:37
post COVID, but they really have a deep understanding of what our challenges are.
3:43
And so Jeff saw a need for better data to optimize his properties.
3:47
And so he created a solution, which we're going to get into in this
3:50
episode as an internal tool to help him grow his short-term rental business.
3:54
And now he wants to help the rest of us.
3:56
Annette: And this is not dynamic pricing.
4:00
Don't think that this tool is dynamic pricing.
4:02
And what we're going to talk about today is not pricing.
4:07
So that's where I want everybody to get out their pen and paper.
4:10
And we're going to start at the very top of the funnel.
4:13
Sarah: Jeff.
4:14
Annette: Welcome to the show.
4:14
Sarah: Welcome back.
4:16
Jeff: Thank you.
4:17
Excited to be here.
4:18
Sarah: So let's dive in, Jeff.
4:21
How were you optimizing?
4:22
What pain points were you seeing with Loma Homes, and what was your thought
4:26
process on trying to figure out a solution to increase your bookings?
4:33
Jeff: Yeah.
4:33
When we were running Loma Homes, we really started it out with the idea
4:39
of design and really differentiating ourselves with experiences.
4:44
And we went all in with that, and it worked really, really well.
4:47
I mean, there's nothing wrong with focusing on a great
4:50
experience for your guests.
4:51
And that was working.
4:53
We really wanted to know how much it was working and what impact that
4:57
was having in the OTA specifically.
5:00
In addition to that, we often saw fluctuations went down season, and
5:04
we wanted to know, is it just us not getting bookings, or is this everybody?
5:10
And so we were able to build a tool that helped us benchmark against
5:14
the competition and then understand where guests were falling off in
5:18
the booking process so that we could troubleshoot that and ultimately
5:22
get more bookings from that.
5:24
Annette: Okay.
5:24
Jeff, I think we need to explain a little bit.
5:27
You say an experience, but let's color this in for our listeners, and
5:31
we'll make sure to link to some of the listings in the show notes.
5:35
Listeners, these experiences are one of a kind.
5:38
And so for Loma Holmes to experience this and see that drop off, and for it
5:43
to be a pain point for them, I want you to know that you're not alone in this.
5:46
So Jeff, can you just give some ideas on the design and experience and the
5:52
investment that Loma Homes made, and that return on investment that you saw
5:58
but where you were still feeling some of that pain in those off-seasons, if
6:02
you could color that in for all of us?
6:05
Jeff: Yeah.
6:06
I would assume most of your listeners probably started recently.
6:10
The amount of people that have started recently has been quite high.
6:13
And so you've probably seen a lot of turbulent times from
6:16
COVID, to non COVID, to revenge travel, and all of these things.
6:19
And so you've seen some big ups, and you've seen some big downs, is my guess.
6:23
But when we came out of the gate, we're very data-centric, obviously,
6:27
and we ran the numbers, found Orlando to be a profitable place to be.
6:31
This was back in 2018.
6:33
And we found that customers or guests were going to Orlando for
6:38
these theme park experiences.
6:39
And a lot of the homes that were doing the best had a minions wall mural, or
6:46
they had some themed element to them.
6:49
So we decided, you know what?
6:49
We can do this.
6:50
We can just take it to the next level.
6:52
So we hired some themed contractors to come in and make custom-carved beds.
6:57
And we got fog machines to just create this-- we even had lighting
7:02
effects and separate switches for different sound effects and things.
7:05
And so it was really just this whole immersive experience that guests can have.
7:09
And it was great.
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I mean, we got a lot of publicity from that, a lot of social media attention,
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which was the goal, and it worked.
7:16
And then the pandemic, we thought would kill us, and it ended up creating a surge.
7:21
And then 2022 happened, and it was like, wait a minute, what just happened?
7:25
So even for us, with all the design and all these things, it
7:27
was like, something's different.
7:30
We're not seeing the same amount of bookings that we did last year.
7:33
And that's when IntelliHost was born to figure out why and how to fix it.
7:39
Annette: And if you can share with us, I mean this, uh, next level
7:44
experiences, I'm assuming they were in the six-figure investment into these homes.
7:50
Jeff: Oh, yeah.
7:50
Annette: I just want to let the listeners know how dedicated--
7:52
Sarah: Right.
7:53
This isn't just some wallpaper and a different light bulb.
7:55
It was--
7:56
Annette: And these, uh, experienced contractors were people that build
7:59
out amusement parks and rides.
8:02
You hired the best of the best.
8:04
You made the top line investment, and I think you were seeing
8:07
top line returns also.
8:09
And I just want listeners to know some of that.
8:13
So can you also just let us know the investment that you made and
8:16
the returns that you were seeing, and then how it has dipped for you
8:20
to create the tool that you did?
8:22
Jeff: Yeah.
8:22
So our Wizard's home is the poster child for all of that.
8:26
We bought it for, I want to say-- and I tell you the purchase price
8:30
of the home to give you an idea of how much renovation went into it.
8:33
We probably spent 480, 460 on the home, and then put about
8:38
$250,000 in renovations into it.
8:41
Annette: That's what I wanted.
8:42
The listeners to get a real idea on the investment that you made in this design.
8:47
Jeff: And this wasn't a beater home.
8:50
This was a ready-to-go to rent home.
8:53
So all of the 250,000, 90% of it was all theming elements.
8:58
It was custom murals.
9:00
It was custom carved beds.
9:02
It was all of those things.
9:03
And you're talking about 50% of your home price in theming elements.
9:09
And so it's a risky way to go, but we went all in on the income
9:14
strategy, and it paid off.
9:16
Our average revenue for the last two years has been pretty close to, if
9:21
not exceeding 300,000, each year.
9:24
I mean, that's the return that we made on it, so it was definitely worth it.
9:28
Annette: Thank you for sharing that.
9:29
Sarah: So as a self-proclaimed data geek, we're going to get
9:32
into the product that you built.
9:34
And yes, listeners, you can leverage it too.
9:37
But before we get into that, what were the questions you had for your listings?
9:43
What were the first things you were asking that you thought maybe were playing
9:47
into low occupancy in your slow months?
9:51
What does a data geek think of first?
9:54
Jeff: So we knew we had a great design.
9:56
We knew we were different than everyone else, but if no one can see us, then
10:01
there's no chance of getting booked.
10:02
So the first question was, are we getting ranked on Airbnb.
10:07
And if we're getting seen, then are we converting those eyeballs?
10:13
So it's about understanding how much are we appearing in search
10:17
and if we're getting on the top of that search, and then knowing if
10:20
we're then converting those eyeballs into bookings was my question.
10:23
Because I knew-- like I said, the design was good, but there's
10:26
so many different things.
10:27
There's so many different settings in Airbnb that I was like, what if
10:30
I just have one little thing wrong?
10:31
What if I just have something that's broken and we're
10:34
just not getting in search?
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And so that was really a question for me.
10:37
And then on top of that, Airbnb's always really seen these different updates, and
10:41
they're changing and tweaking things.
10:42
And it was like, oh man, did that affect me for the good, for the bad?
10:46
Those were definitely some of the questions that I had, and we were
10:48
able to answer with the numbers.
10:51
Sarah: Great.
10:51
So before you built a tool, was it just massive spreadsheet with like,
10:56
okay, let's change this picture?
10:58
Maybe Airbnb doesn't like this picture, but like this one, or this
11:01
title seems to speak to people.
11:02
But because we've all heard at this-- okay.
11:04
Back in 2018, Annette and I would blow people's minds with change your title
11:08
for the season, or change your picture.
11:10
But now I feel like that's common knowledge.
11:13
But you are saying, great, you do those things, but how do you know
11:17
what's actually pulling a lever of catapulting you to page 1 of Airbnb?
11:24
Jeff: Right.
11:25
And that was something that always bothered me.
11:27
I'm sure a lot of people are googling what works and what doesn't on Airbnb,
11:31
and there's a lot of conflicting things.
11:33
Some people say like, oh yeah, totally boost your rank if you change your
11:36
listing a little bit every day, or putting emojis in your title helps,
11:40
all these different theories and myths.
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And a lot of them contradicted.
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And I thought, there's got to be some data on this.
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There's got to be some real truth behind all of this.
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And the more I searched, the more there just wasn't.
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And so we started to run different A/B tests on our own data.
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So I started to dive into Airbnb's metrics deeper and deeper and deeper.
12:02
And what I found was actually quite surprising.
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The further I dug into Airbnb's metrics, the more I realized what they're reporting
12:09
or what I thought they were reporting wasn't what they were actually reporting.
12:14
And I had to actually create some technology that would collect the data
12:20
that's in Airbnb in raw and number format and then manipulate it in Excel
12:27
using other tools to turn it into what I needed, which was, what impact
12:33
are my changes having on my listing?
12:35
And from the data that's there, you can't actually tell those things
12:38
because of the way they formatted it.
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And that's when we realized we had something special that we had built.
12:44
Annette: Can I ask?
12:46
I'm sure this is just going to be an estimate.
12:48
How much time did you spend investigating this, researching, and coming up with
12:55
these facts with the data that you need?
12:57
Can you give us an estimate of how much time you've put into that?
13:01
Jeff: I mean, I was running a vacation rental business at the same time, so I
13:04
can't say it was full-time, but it took us a good year to figure out how to
13:10
collect this data, how to understand all of the nuances that Airbnb introduces to
13:18
this data, and how to use that and work around that to be helpful, because you
13:25
just assume that a company like Airbnb is super consistent, and reliable, and
13:32
just trustworthy, and all of the data, but the more we collected it, the more
13:36
we realized there was just some weird things happening in the numbers that
13:39
we had to account for and calculate for and really make sure that the
13:43
numbers were clean so that we could, um, make decisions out of that data.
13:48
So to answer your question, it took a good year, let's say
13:51
part-time, 20 hours a week.
13:53
Took a long time.
13:54
Annette: I know listeners are probably like, I'm toiling on my listing.
13:57
I just want to give an idea of the labor of love, the labor of time that
14:01
you've put into to researching it.
14:05
Jeff: Yeah.
14:05
Lots.
14:05
Sarah: At what point, Jeff, then did you decide, okay, we've done enough research,
14:10
and we want this to not only help us, but we think this is a solution that
14:14
doesn't exist yet, and we'll get into the tough question of, oh, but doesn't it?
14:20
So IntelliHost, which is the name of your product, when was it born, and at what
14:24
point did you think now is a time to share this with other people in exchange for
14:28
subscriptions to tap into this product?
14:32
Jeff: I would say it was born internally about a year and a half ago.
14:35
And at that point, it was never intended to be a product that
14:39
we would release to everybody.
14:40
Like you mentioned, it was just an internal thing because we
14:43
needed to make better decisions.
14:44
And so we built it, and it took a few months, well, five, six
14:49
months to even get it to a state where we could use it ourselves.
14:53
And then it was tweaking for another six months.
14:55
But the aha moment, that moment where I was like, oh my gosh, this is a
15:00
game changer was when we released a new property in Panama City Beach,
15:05
and, um, it was new out of the gate.
15:07
And I don't know if-- and I'm sure no one else has had this problem, but one of
15:10
your first three reviews comes out as a one star, and it's like, you get this--
15:15
Annette: Who is that guest?
15:17
Can we find them?
15:18
Jeff: You get a tragic guest, and you're just like-- because they were trying to
15:21
look for refunds, and you didn't give them one, and they're like, well, retaliatory.
15:26
So what happened is this is our second or third review.
15:29
They gave us a one star.
15:31
But luckily, the review had violated all of Airbnb's terms and conditions,
15:36
and so we ended up getting it removed.
15:38
But what was awesome about that experience was we were tracking the numbers and
15:42
the data and watching like our first page impression rate, meaning our
15:45
rank, and that review came out, and our rank went from 50, 60% down to 12.
15:53
It was like, bam.
15:54
And we were just freaking out.
15:57
And then the review got removed, and it went right back up to where it was.
16:00
And we were like, hold on a minute.
16:03
That was interesting.
16:05
Not only did we know, we verified that Airbnb does reward and penalize
16:09
based on overall review score, but how much did that affect us?
16:14
And what would've been the consequence of that?
16:17
So that was just a huge aha moment.
16:20
And we realized this is the tip of the iceberg.
16:24
We could test all kinds of things and figure out what's working and
16:27
how to help people earn more revenue.
16:30
Annette: All right.
16:30
How can we help listeners-- whether or not they choose to utilize your tool,
16:34
Jeff, what should they be looking at?
16:36
And can you talk us through the actual Airbnb funnel?
16:40
Can you talk about the beginning of a guest seeing your
16:44
booking to actually booking?
16:47
Jeff: Yeah.
16:49
One of the things that people just don't think-- everyone's used to talking
16:53
about performing in the OTAs as rank.
16:55
They're like, just rank higher.
16:56
Rank is definitely part of the equation, and I'm not trying to change your mindset
17:02
there, but there's a bigger picture.
17:03
And what's happening on the OTAs and on Airbnb is guests are
17:08
taking four steps before they can find and book your property.
17:13
And at each step, there's an opportunity to lose guests.
17:19
So every time they take a step, you may be in their funnel or their
17:25
list of properties that they're considering, or you may fall out.
17:28
And understanding your funnel is about understanding where you're
17:31
losing the most guests and trying to keep as many as possible.
17:37
So that's what a funnel optimization is all about, is what are those four steps,
17:40
and how can I make sure that every time a guest goes to the next step, that
17:44
I'm not falling out of their criteria?
17:48
So the first step-- and do you want-- I'm happy to go into them if you'd like.
17:52
Annette: Yes, please.
17:53
We want these four steps.
17:53
Sarah: We're all ears.
17:54
Annette: And listeners, we're using the term funnel, which is a very
17:57
broad marketing funnel, listeners, but it's just what it sounds like.
18:01
You use a funnel in your kitchen, or when you're doing an oil change.
18:04
You start with so many people at the top, and it's getting that
18:07
last person down to the bottom.
18:09
So it's like all the eyes on your property all the way down to booking.
18:12
So that's what we're talking about, the marketing funnel here.
18:14
So yeah, let's get these four steps.
18:16
Let's do it.
18:17
Jeff: Yeah.
18:18
And the perfect funnel is shaped wide at the top and wide at the bottom.
18:22
And that doesn't sound like a very good funnel if you're using it
18:25
for cooking, but for marketing, that's the perfect funnel you want.
18:29
You want lots of people coming on the top, and then they just
18:31
flow right through to the bottom.
18:33
And so the first step is impressions.
18:36
And an impression is every time that you appear in search.
18:40
So Airbnb has 15 pages usually.
18:44
In most areas, they have 15 pages of search that people can click through.
18:48
So every time somebody goes on airbnb.com and they search--
18:52
there's three big filters.
18:54
You can search a location.
18:55
You can search the guest count, and you can search the date range.
18:59
And when they hit go, everyone that just appeared in that next
19:03
screen just got an impression.
19:05
Not everyone in that location got an impression because they're
19:08
only showing the top 15 pages.
19:11
So if you didn't get in the top 15 pages, you're not getting an impression.
19:15
But that's step 1, is just getting in that first result set.
19:20
And the way you do that is by just getting in as many filters as possible.
19:24
Those three that I just mentioned are the big three.
19:27
Guest count, making sure you have as many guests as possible, making
19:30
sure your dates are available, and then being in the right location.
19:36
The game for your top of your funnel, we call it top of funnel, is just showing
19:40
up in that filter in the first place.
19:42
And that's something you can control.
19:43
It's something that if you add the right amenities, for example, if somebody
19:47
filters by amenities, they're going to get a different results set, and
19:50
you want to appear in those filters.
19:53
And what most people do is they go straight to Airbnb, and actually,
19:56
Airbnb's even said that 90% of their traffic comes from direct traffic.
20:00
And what that means is people are going up to their URL and they're
20:03
starting to type Airbnb, and it auto fills, and then they hit enter.
20:07
That's how 90% of their traffic comes through.
20:09
And they're not Googling Treehouse Airbnb in Chattanooga.
20:14
That's just not how people are searching.
20:16
They're going straight to Airbnb before they even start their search.
20:19
And that's important because if you're trying to use keywords, for
20:23
example, to optimize your listing, that helps you in Google search.
20:26
But that's really not how people even book anyways.
20:28
So it's really important to focus on those filters to appear in results.
20:32
And so people will filter, they'll see this massive result set, and
20:36
then they start to get more specific.
20:37
They're like, yeah, well, maybe they shrink their price range,
20:40
or maybe they filter by pool, or hot tub, those kinds of things.
20:44
And that's what's going to get you more impressions.
20:46
So that's step 1, is just showing up in filters in the first place.
20:50
Sarah: Okay.
20:51
Step 1.
20:52
What's next?
20:53
Jeff: Step 2 is getting on page 1 of whatever filters they're using.
20:57
And that is all dependent upon Airbnb's algorithm.
21:01
So Airbnb is using a number of factors to determine who is most relevant.
21:05
And that's the key for any search algorithm, is determining relevancy.
21:10
And what that means is they want to make sure that they're serving up the
21:13
properties that you're most likely to book when you search, because they're trying
21:19
to provide the best experience possible.
21:22
And so determining relevancy, Airbnb has a lot of internal metrics that they can use.
21:27
Two of those metrics are click rate and book rate.
21:31
So meaning what percentage of the time after seeing your property
21:35
did people actually click on it?
21:36
That's click rate.
21:38
Another metric is book rate, or after clicking on it, what percentage of the
21:41
time did they actually check out and book?
21:44
That tells Airbnb, this property, people like.
21:48
If they're not clicking on it and they're not bucking it, that tells Airbnb, oh,
21:51
we probably shouldn't surface this one on top of page because it's not relevant.
21:55
And that's how they determine that.
21:59
People are always making assumptions on what Airbnb
22:03
cares about and what they don't.
22:04
Like, oh, if I have a picture with more contrast.
22:07
They just make up all kinds of crazy things.
22:09
And I don't think Airbnb really cares about a lot of that when they have
22:12
metrics like click rate, and book rate.
22:14
The other reason we believe they use these two metrics so heavily is because we just
22:19
ran a big analysis on new properties.
22:23
And when you first launch a property, we're not talking about
22:25
deactivating and reactivating.
22:27
I'm talking about a brand new listing.
22:29
When you first launch a brand new listing, your search rank goes up.
22:34
The first four days, it just climbs like crazy.
22:37
At day four, it peaks, and then it starts to decline over seven to 14 days,
22:43
and it finally appears off at 30 days.
22:46
And so we call it the grace period where you get this big boost,
22:50
and then it starts to level off.
22:51
Now, why would Airbnb do that?
22:53
They're doing that because they want to see, they want to test your
22:56
property for those two metrics.
22:57
They want to see how well you're getting clicked, and they want to
22:59
see how well you're getting booked.
23:01
And if during that grace period you get both of those things really well, well,
23:04
then you just peg yourself in their algorithm at a good level, and they're
23:07
probably going to keep you that way.
23:08
And then it probably won't be permanent.
23:10
They're going to continue to adjust that over time.
23:12
But it's important to think about how well you're getting clicked and booked.
23:16
And those two things, those two metrics I just mentioned are
23:19
actually step 3 and 4 of the funnel.
23:21
Clicks and bookings.
23:22
Annette: I want to stop for a second about this brand new listing.
23:26
So if listeners are listening, and they just launched, and they're getting
23:30
no bookings, should they be alarmed?
23:34
Is that timeframe mission-critical, if you will?
23:39
Jeff: I would argue that it is.
23:40
I would argue that those first 14 days are completely mission-critical.
23:44
If you don't get any bookings in that 14 days, it's a problem.
23:48
Annette: Okay.
23:49
Sarah: It's a big problem too, because you can't-- so this is where I'm going
23:52
to brush off my shoulders, because, listeners, if you've been listening
23:55
long enough, I think I've painted myself as the, um, perfectionist that I am.
24:00
And sometimes, B minus work, just get it up.
24:03
Just get it listed.
24:04
Just do the thing.
24:06
But just know how heavily weighted it is when you introduce your listing to the
24:12
Airbnb world, because if you don't hit out of the park when you first list it,
24:17
I mean, that's what you're saying, Jeff, is that it might be hard for you to--
24:20
Annette: Make a comeback.
24:21
Sarah: To make a comeback.
24:22
Jeff: Yeah.
24:23
And some people when they hear me say that, they're like, oh, well, I'll just
24:27
re-list my property every two weeks.
24:30
I don't recommend that either.
24:31
Annette: That's cringy.
24:33
Yeah.
24:33
Okay.
24:33
Jeff: Yeah.
24:33
That I don't recommend trying to game the system, or trying to rig the system.
24:38
I'm pretty sure that would be against Airbnb's policy, and I would
24:42
imagine they could shut down your account if you were doing that.
24:45
I'm sure a lot of listeners weren't like, really, you get a boost if you're-- and
24:49
so they're trying to think through it.
24:50
I know I would've.
24:51
So be careful, and make sure you're following the policies there.
24:54
Yeah.
24:55
AD MARKER
24:56
Sarah: Okay.
24:56
I have more questions, but you might answer them when we get to three and four.
24:59
Annette: Step 3, step 4.
25:00
Let's do it.
25:02
Jeff: The one thing I'll mention before we go to step 3 is step
25:04
2-- I hate this, but it's true.
25:08
It's highly influenced by price.
25:09
I don't know if it's just since Airbnb's algorithm, but the fastest
25:13
way to rank is just with price.
25:15
It stinks because nobody wants to just lower their price
25:17
toget more bookings like that.
25:17
Annette: Yeah.
25:17
What do you mean by price?
25:19
The lowest price when it's--
25:21
Sarah: They've setit.
25:22
Annette: The guess count.
25:23
Sarah: They've set best quality, lowest price is going to win,
25:26
which sucks because it feels like this race to the bottom, but--
25:29
Jeff: It does.
25:31
It does, but the game-- we have to remember that the goal is revenue.
25:35
So lowering your price might increase your revenue if the amount of eyeballs
25:39
you're getting exceeds the amount of discount that you're providing.
25:44
I'll give you a case in point.
25:45
We had a property in Destin, and Destin is an extremely competitive market.
25:49
And we were priced just barely too high.
25:52
And it wasn't that we were priced too high, it was that the
25:54
competition entered the market, and it saturated, and the prices started
25:58
to drop, and we didn't go with it.
26:00
And because we weren't competitive, our first page impression, rank,
26:04
was just dropping, dropping, dropping, dropping, dropping.
26:07
So when we finally looked at it, we're like, wait, what's going on here?
26:09
We dropped our price by 15%, 15%, and we saw an increase in first page
26:16
impressions by about five times.
26:20
Just that tiny tweak in a really competitive market was able to
26:24
just shoot us up in rank, and then we were fine on our bookings.
26:27
And so our revenue was three or four times because of that slight change in rate.
26:34
Annette: Can you let us know, the 15% per night, what was that?
26:37
If you could give us some tangible numbers there for our listeners.
26:41
Jeff: I think average, we were at 350, 400 a night, and then
26:47
we dropped it 15% from that.
26:50
And I don't want any of your listeners thinking, oh, 15% will 5x my bookings.
26:53
It totally depends on your area and what the competition is doing.
26:56
But yeah.
26:57
Annette: We're going to help them with that.
26:59
All right.
26:59
Yeah.
27:00
Jeff: So those are the big three things I would think about when it comes to ranking
27:03
is click rate, book great, and price.
27:05
And then step 3 is all about clicks.
27:07
So once you actually get seen, whether you're on page 1, page
27:11
2, page 3, whatever, there's only seven or eight things that people
27:15
can see on each property that will determine whether they click or not.
27:19
So what's nice is if you're having a click rate problem, if you're not getting clicks
27:24
after getting eyeballs, there's only a few levers you could potentially pull.
27:28
And the main one is cover image.
27:31
I'd say 7 times out of 10 we see a click rate problem, it's usually
27:35
because the cover image is just not compelling, because that's the biggest
27:40
part of the real estate that you have on that first page is your cover image.
27:44
The other things that people can see are whether you're a super host or not.
27:48
How many reviews you have, the quality of those reviews, what type
27:51
of home you are, an apartment home, townhouse, that kind of thing.
27:55
Your title, which they've made super tiny so it probably doesn't even
27:58
matter anymore, and then your price.
28:00
So those are the main things.
28:01
But usually, if you're appearing on first page, it's because your
28:04
price is probably in line anyway.
28:05
So those are the main things that you can think about when
28:09
troubleshooting your click rate.
28:12
Annette: So a compelling cover image.
28:14
And you've seen that help tremendously.
28:18
Jeff: Yeah, absolutely.
28:19
And just to put a plug out there, we have been seeing a lot of people
28:23
use split screen cover images, and in our experience, they don't work.
28:27
I don't know who's putting them out there, but I keep seeing the
28:29
same split screen cover image.
28:31
Sometimes it's this diamond shape.
28:33
It doesn't--
28:34
Sarah: Can you explain what that is?
28:35
Jeff: There's too much going on.
28:37
Split screens,they--
28:38
Sarah: So in oneimage, it's likefive different images, right?
28:40
Jeff: Exactly, yeah.
28:41
They'll put some text in the middle or something like that, and then they'll
28:45
put four different images in it.
28:47
And the problem with that is people are scrolling through these properties
28:51
really quickly, and all these little pictures are less compelling than
28:56
one awesome picture because all those little pics don't make people stop it.
29:02
They just see busy, and they keep going.
29:04
And so if you're doing a split screen image, it's not all the time,
29:08
because in Destin, for example, we still do one split screen.
29:12
It's just unique in that area because it has this huge resort pool, and so we
29:15
have this big resort pool and one or two images of the interior on the cover image.
29:21
So you have to take into account what's best for your area.
29:24
But most of the time, split screen images are not super effective.
29:28
Annette: Can you say on the flip side that there is a specific room
29:33
that, in the cover image, does best?
29:36
Jeff: Yes.
29:36
Annette: Is it the kitchen?
29:37
Is it the living room?
29:38
Ooh, you said yes quick.
29:39
What is it?
29:39
Give us the tea.
29:42
Jeff: Yeah.
29:42
So for us, it was the gathering space.
29:44
But we also have large properties.
29:47
So we have properties from five-bedroom to nine-bedroom.
29:52
That's our market.
29:52
Annette: And we've gotten zero invitation, Sarah.
29:55
I don't know where that puts us.
29:56
Five beds, nine beds, zero invites from Loma Homes.
30:01
But no one's counting.
30:03
No one's counting.
30:04
Sarah: We're going to wait for that tick on--
30:06
Annette: I hear resort-style pools, Florida, Wizard'sWay,
30:10
five bedrooms, nine bedrooms.
30:12
Sarah: Annette put you on blast.
30:13
Jeff: Did I saybig property?
30:16
Annette: Uh, zero invites to Thanks for Visiting.
30:20
All right, so the gathering space for your properties has been on--
30:23
Sarah: Now, is that the kitchen island, or is that the dining room table, or is that
30:26
the living room with the TV and the sofas?
30:28
Jeff: Living room, TV, sofa.
30:30
Generally, those areas are also really the best lit areas we've seen.
30:34
And so I don't know if it's the lighting or what, but we found
30:36
that for larger properties, people want to see, what experience--
30:41
from an entertainment perspective.
30:43
Because larger properties, it's almost never one family.
30:46
It's two, three families.
30:48
And they want to make sure that that space is going to accommodate them because
30:51
that's what they're going to spend most of their time is socializing in that space.
30:55
So they really want to make sure that that space is what they need.
30:58
So if you're using a big property, definitely have that great area.
31:03
Now, for couples, I mean, if you're doing small properties, especially
31:08
if they're looking for long-term stays, it might be your amenities.
31:11
Just get a good pool in there, or the desk, the office space.
31:15
I don't know what cover image works for smaller properties yet, but generally
31:20
a safe bet is just that gathering area if it's a really good gathering space.
31:25
Annette: Thanks for that hot tip.
31:26
We like that.
31:27
Jeff: We had some really cool bedrooms in some of our beach properties, so we
31:30
were highlighting those bedrooms because they were just beautiful, and we had
31:34
like a nine, 10% click rate, and then we tested some gathering space ones,
31:39
and we jumped to 12, 13% click rate.
31:41
So it's not going to just change the game for you, but it's a significant increase.
31:46
Annette: All right.
31:47
So step 4.
31:48
What's next?
31:50
Drum roll on this one, right?
31:53
Jeff: So once they've clicked on your listing, now they need to check
31:56
out, and the thing that's going to determine whether they check out or
32:00
not is that detailed page screen.
32:02
It's got your five images across the top.
32:04
It's got some summary info.
32:06
It's got your description.
32:08
All of that is what's going to determine whether they book or not.
32:12
And so one of the themes that we've been seeing a lot recently, the
32:17
fastest way to kill your conversion rate or your click to book rate--
32:20
Annette: And kill is a positive.
32:22
You're using this in a positive way right now, right?
32:24
Jeff: I'm actually using this as in a negative.
32:25
Annette: Oh, okay.
32:26
I thought you were going to see-- but I had to clarify because I thought you were
32:28
saying, kill it, you're going to crush it, but you're saying this is terrible.
32:32
Jeff: Well, so think of it this way.
32:33
Your top of funnel, you're trying to just-- the goal is to
32:36
increase it as much as possible.
32:37
Your bottom of funnel is just trying to keep it.
32:39
You're just trying to not lose people, right?
32:41
Sarah: Mm-hmm.
32:42
Jeff: That's difference.
32:43
Top of funnel is just bring in as many people as possible, and then the goal
32:46
of step 3 and 4 is just don't lose them.
32:49
So step 4 is like, hey, we've got them interested.
32:53
They clicked on this property.
32:54
It's most of the way there.
32:56
Now we just got to get them to take that final step.
32:58
And the fastest way to make them just bounce and leave
33:01
you is additional guests fees.
33:04
Um, a lot of people--
33:07
Annette: All right, everybody.
33:08
Remove your additional guests feestoday.
33:10
Jeff: Just get rid of them.
33:11
We've helped two or three people just recently, and quadrupled their
33:15
bookings by just removing that.
33:18
It was that fast.
33:20
They had amazing top of funnel.
33:22
They were just getting tons of eyeballs, tons of eyeballs, got tons of
33:24
clicks, and then boom, they were gone.
33:26
Their funnel was super wide, super wide, and then, smash, right at the bottom.
33:30
It was just pinched.
33:32
Nobody was booking.
33:33
And I was like, something's wrong.
33:34
And I started clicking through their listing, and they had a
33:37
$100 per guest per night over 12.
33:40
They could accommodate 16.
33:41
But if you're in a big property, most people are maximizing
33:45
the size of the property.
33:46
If you sleep 16, they're looking to stay 16.
33:49
So when you have your price up there, they're expecting that price, and
33:53
then it goes up 50% when they actually select all the guests they want?
33:57
They're gone.
33:57
There's no way they're booking your property.
33:59
Sarah: That was my question is what are those fees, and just so our
34:01
listeners can understand, is it a $25 management fee, or are we talking a
34:06
per guest per night fee that really--
34:08
Jeff: I'm talking about a per guest per night fee.
34:10
Because that fee isn't showing, or at least it doesn't usually show on the click
34:17
part, so people are clicking through and not seeing those additional guests fees.
34:21
So this person, for example, up to 12 guests was charging,
34:26
I don't know, 650, 700 a night.
34:30
And then if you added a guest, it went to 800, and then another
34:34
guest, 900, another guest, a 1,000.
34:37
Annette: That's exorbitant.
34:38
I think.
34:38
That's a large increase.
34:39
Jeff: It's huge.
34:39
Annette: Yeah.
34:40
Because what's that percentage of the nightly rate if you're--
34:43
Jeff: Well, if you went all the way up to 16 guests, it was
34:46
50% increase on nightly rate.
34:48
So once we fixed that, in 11 days, he had nine nights booked.
34:53
He just booked like crazy after that.
34:56
And so we've seen that on a few other customers as well.
34:59
We're like, hmm, they're smashed at the bottom.
35:01
Oh, additional guests fees.
35:02
And just widens the bottom of that funnel right up when they book.
35:06
Like I said, there's things-- you got to be looking-- the name of the game for
35:10
step 4 is what's scaring people away?
35:14
One thing that can scare people away is really draconian
35:19
verbiage in your description.
35:20
Like, absolutely no parties.
35:22
I will crush you.
35:24
I've seen some really scary descriptions is like, these rules
35:30
will be followed, and if you don't follow them-- it's just like, WHOA.
35:34
That will scare people.
35:35
They're like, this host is crazy.
35:37
Annette: What about cancellation policies?
35:39
How have you seen that affecting bottom of the funnel?
35:41
Jeff: I haven't seen a huge impact from cancellation policies.
35:45
I would avoid the non-refundable cancellation policy.
35:48
That does seem to be a little scary for some.
35:50
But even strict doesn't seem-- at least right now, we haven't done a full
35:54
analysis, so let me just caveat with that.
35:57
That is one of the topics we will be doing a full analysis on at some point is
36:01
like, what's the conversion rate across those different cancellation policies?
36:06
Because we have enough properties now on our system that we can run that and
36:09
determine that pretty conclusively.
36:11
Uh, we just haven't run those numbers yet.
36:12
But anecdotally, I would say that I haven't seen massive drop-offs
36:17
in cancellation, uh, in conversion rate from the cancellation policy.
36:21
Annette: Thanks.
36:21
Sarah: Okay, so this is exciting.
36:23
We're good, right, Jeff?
36:24
We just change our picture, X out the fees, and my bookings are
36:30
going to quadruple tomorrow, right?
36:32
Annette: We lose the terminology that's going to make them never want
36:34
to ever book in the first place.
36:36
So we've got all that.
36:37
Sarah: Yeah.
36:37
Okay.
36:37
We did all that.
36:38
So we should be good, right?
36:41
Jeff: Yeah.
36:41
Unfortunately, there's quite a few things that people could still get scared about.
36:44
Annette: I think your laugh, the tonality of your laugh basically told
36:48
everybody like, yeah, not so fast.
36:50
Sarah: Well, let's get into IntelliHost.
36:53
And now that we have all those levers, we understand them, they make sense to
36:57
me, so then what does IntelliHost do?
36:59
Annette: Yeah.
36:59
Listeners, don't leave.
37:00
I know you're all going to your computer right now, going to IntelliHost.
37:03
We have an offer for you.
37:05
Stay around.
37:06
We'll have it in the show notes, but please stick around right now
37:08
while he explains it, so that way, we don't want you to leave and run and
37:11
put your listing on IntelliHost yet.
37:13
Stay with us here.
37:15
Jeff: So IntelliHost basically shows you all four steps of the funnel.
37:19
It benchmarks each step against your competition, so you can see your
37:22
competitive funnel and your funnel just to see where you're losing the
37:26
most guests, and where to troubleshoot.
37:30
And then we have some A/B testing tools that'll automatically detect
37:34
when you've made a change, and then we can quantify that for you.
37:38
And then we have some custom recommendations.
37:41
So we analyze your property automatically, and then it goes through and shows
37:46
you some things that will impact each step so that if you're not a
37:51
data nerd like me, you can go through and just read the recommendations.
37:55
That's one thing we realized early on is not everyone's a data nerd.
37:58
Not everyone has been doing data analysis all their life.
38:02
And so we have some really simple, easy-to-use tools where there's a
38:06
break-this-down-for-me button at the top where you click it, and it
38:08
literally just explains, hey, this is the step you're having a problem with.
38:12
This is what you need to go do to fix it.
38:14
So we've tried to make it basic and simple.
38:17
Follow the red in the dashboard, and you'll be fine.
38:21
And finally, there's one more tool within IntelliHost that helps you see your
38:27
forward-looking bookings and helps you see how much traffic you're getting on
38:32
future days so that you can surgically diagnose the gaps in your calendar and
38:38
tweak your pricing so that you can make sure to get all of those days booked.
38:42
So that's fun too.
38:44
Sarah: The reason why I like this, listeners, is because you could change
38:47
that hero image, that cover image.
38:49
You could change your verbiage to be less scary and more welcoming.
38:54
But how do you know of those changes, which ones actually
38:57
worked in terms of conversion?
39:01
You maybe not have to change all the things.
39:03
Maybe it's just the photo that's having people peace out.
39:06
Maybe it's just the fees are having-- and so in knowing when--
39:09
and also different seasons, you might need a different picture.
39:12
So which one actually is going to get people to convert?
39:17
What is going to speak to them at that time?
39:18
Which is why I like IntelliHost too, because I can see when I made
39:21
that change, what that change was, and if it moved the needle at all.
39:25
Right, Jeff?
39:26
Jeff: That's exactly right.
39:27
That's the whole goal, is really just simplify the whole optimization process
39:32
and boil it down to just a few levers that you need to pull to fix the problem.
39:35
Sarah: Also Jeff, maybe someone is a data nerd.
39:38
They love the idea, but they also have a full-time job, four
39:42
children, there are three vacation rental homes they run themselves,
39:45
and they clean on the weekends.
39:46
So we don't have a lot of time.
39:48
We know what's important, but we also have all these other things we're
39:50
doing too, especially our listeners.
39:52
So in order for them to reap the benefits of their investment within
40:00
IntelliHost, what time investment do you see your users having to put in?
40:06
Jeff: So typically, the process is you have to set up your data within
40:11
IntelliHost, and that's probably something we should talk about just a little bit.
40:14
But the setup is about three minutes.
40:16
You have to invite IntelliHost to your Airbnb team, or you have to invite
40:21
us as a co-host to your property.
40:23
That's how we collect the raw data for you because that's what Airbnb is
40:27
giving you to analyze your property.
40:29
And so once you've invited us, we start collecting your data,
40:33
and then as we collect your data, we compile a history for you.
40:36
So we recommend people come back in about seven days, and after seven days,
40:41
they can see how things are going.
40:43
So it doesn't take a lot of time.
40:46
There's just a two-minute setup, and then once you log in, it were
40:50
me, I would just follow the red bars, and click the recommendations
40:53
for the red bars, and do them.
40:55
There's really not a lot of time that's required to figure it out and analyze it.
41:02
It's just do what it says.
41:04
It shouldn't take you much time.
41:05
Now, for the data nerds out there, there's a lot you can dig into, and there's
41:09
a whole story you can tell with the data that's in there, and the trending
41:13
that's happening, and all of that.
41:14
So if you really love the data and you want to dig in, all
41:17
the juicy details are there.
41:18
But if you're like most property managers that are bogged down in
41:22
the operations of your business, it shouldn't take a lot of time.
41:26
Annette: All right.
41:26
So you said three minutes to set it up, but then I heard seven days.
41:31
And we've been working with you, so we know we also shouldn't go in
41:34
and change all the things at once.
41:35
So let's give the listeners a really realistic timeframe, though, Jeff, because
41:41
I know right now, we're jumping out of our chairs excited for all of our listeners.
41:44
I know they think they're going to get IntelliHost and see a change today,
41:48
because when you're in it, and the bookings aren't coming in, it's painful.
41:51
So let's give a realistic timeframe, though.
41:54
What's the dedication time-wise to really see a result in what we're all looking
42:00
for, which is, bottom line, revenue?
42:01
Can you paint that picture and how all these changes shouldn't take place at
42:05
once, and you need to let the tool get the data for you so you can make the moves?
42:10
Jeff: Yeah.
42:11
In a perfect world, I would recommend somebody give it at
42:15
least 10 to 14 days of history to really see some consistent numbers.
42:21
Airbnb's search can be a little bit volatile, meaning the traffic that
42:25
you're going to see, you might see 20 clicks, and then 50 clicks, and then
42:30
30 clicks, and then a 100 clicks.
42:33
You could see that type of volatility, and if you're trying to make
42:36
decisions on that, it's tricky.
42:38
But as you give it a little more time, say seven to 14 days, you're going
42:41
to start seeing some trends happen, and that's really what we recommend.
42:45
The other thing that that allows for is once you have that baseline of seven to 14
42:50
days, then you start to make some changes.
42:51
And we recommend you make one or two at a time, very few changes at a
42:55
time, because then your numbers are going to start to adjust from that.
42:58
And if you give it a good week afterwards, before and after the change,
43:03
well, now you've got a really good scientific comparison to say, okay,
43:06
this is what it looked like before.
43:07
This is what it'll look like after, and you can determine.
43:10
Now, if you go in there, and you're like, I'm going to make 20 changes,
43:12
I'm going to make all the changes that IntelliHost recommends today, you're
43:16
not going to know which change made the difference, and maybe you don't care.
43:19
That's fine too.
43:20
But if you're like me, you really want to know what drives the needle.
43:25
And so I recommend you give it seven to 14 days.
43:28
You make a change, watch it over seven days, make another change, and over
43:32
time, you figure out what works and what doesn't, because some of the changes
43:36
you make might actually have a negative effect, but when you mix it all together
43:41
with all the other changes, you can't tell that that one had a negative effect.
43:44
So to really optimize well, um, I recommend one at a time.
43:49
Sarah: It takes time, but it's worth it.
43:51
Annette: I know there's listeners out there.
43:53
I have Rankbreeze, I have PriceLabs, I have all the tools,
43:57
I have all the tech stack.
43:58
Do I have money for another tool?
44:00
What's the difference?
44:01
If they're sitting there and they've attached all the--
44:03
Sarah: That was my question, Jeff.
44:05
Annette: Yeah.
44:05
So this is the stage, the final stage, to really sell everyone on why?
44:10
Because everyone's installed all these tools and maybe they're using them.
44:13
Maybe they're not.
44:14
What is the why?
44:15
You've got our ears right now.
44:16
How and why are you different?
44:19
Jeff: So we are not a pricing algorithm.
44:21
Um, we are a listing site optimization tool.
44:25
So we're going to tell you what works and what doesn't on Airbnb, and
44:31
we're using source data to do that.
44:34
We're the only platform in the whole world that uses that Airbnb source to tell you
44:40
what's actually working and what's not.
44:43
And we're the only company that has collected enough of those sources to
44:48
statistically determine what works, and to actually give you truth, what the data
44:56
is saying is working and not just a theory or a myth that you're reading online.
45:01
so the other thing is it's a 30-day free trial, so there's really nothing to lose.
45:07
Annette: Wait, did you just blow our offer for everybody, Jeff?
45:11
Jeff: No.
45:13
Annette: We have a better offer, right?
45:15
Jeff: It's a 30-day free trial, and then when you subscribe, we have
45:19
an offer for your listeners that they can use in the show notes.
45:22
Annette: All right.
45:23
There we go.
45:24
You brought it home.
45:26
Two things that you said, though, that I want to make
45:28
sure our listeners are clear on.
45:29
This will not work on Vrbo, correct?
45:32
Jeff: That's true.
45:32
Annette: This isfor Airbnb only.
45:33
All right.
45:33
That's number one.
45:34
Listeners, do not take our advice if you just list on Vrbo.
45:38
The second thing, Jeff, can you circle back really quick?
45:40
Because we know this has been a friction for some people.
45:43
You have got to have access to make IntelliHost a co-host or
45:47
add them to the team, correct?
45:48
Or it will not work.
45:49
Jeff: That's right.
45:51
We do need access to your account.
45:54
You've got two options to do that.
45:56
You can either invite us to your team, which is ideal because if you invite
46:00
us to your team, you only have to do it once, and we can see all the properties.
46:03
You're good to go.
46:04
If you are a co-host on someone else's property, you're going to find that
46:08
you can't add us as a team because Airbnb has this crazy policy, though.
46:11
You can't be a co-host and a team member, and all these weird things.
46:14
So you just have to add IntelliHost as a co-host to each property
46:19
individually, and then we can still collect the same data for you.
46:21
Annette: I want to make that clear in case they run into that.
46:24
Sarah: And so listeners, if you're a co-host out there, all I had to do
46:26
was tell my owners like, hey, owner, I have this great technology that I'm
46:31
going to now be able to tell us with data how we can increase our bookings.
46:35
Are you cool if I attach it?
46:37
And they're like, yes, please.
46:38
Yesterday.
46:39
It sounds great.
46:40
So it wasn't hard for us to pitch our owners, because, again, if you are a
46:46
co-host on a property, then you are not the primary listing person on that.
46:52
You have togo where the listing originated.
46:55
And so you have to have that partnership with your owners.
46:56
But why not?
46:57
I mean, you're trying to improve business for everyone involved.
47:01
Jeff: I was going to add to that.
47:02
The nice thing about that as well is Airbnb's just released different
47:05
permissions for co-hosts, and all we need is calendar permission, the lowest
47:09
level of permissions to see the data.
47:12
So if they're worried about, well, who is this, and what can they do,
47:16
our access is so limited anyways that the risk is pretty low.
47:19
Sarah: I love that.
47:20
I didn't know that.
47:21
Annette: So listeners, why the heck are you still listening to the episode.
47:24
Sarah: Now you can turn us off.
47:25
Annette: Check the show notes.
47:26
We have an amazing offer that Jeff has extended us for our listeners, but I
47:32
want our listeners to know too, we've been working with Jeff for months,
47:35
learning about his product before we even brought him here on the show, but
47:39
as you can tell, he has a teacher's heart and a vacation rental manager's mind.
47:45
And when you combine those two with a data nerd, it is absolute magic.
47:49
Sarah: We also brought Jeff into our membership, first.
47:52
We wanted to give him a smaller group of hosts to see, okay,
47:55
Jeff, you have impressed us, but what matters is our community.
47:59
And so he came into HBMM, um, which is our membership, and they loved it.
48:03
Once we saw their reaction to Jeff's education and product, and, Jeff, we've
48:08
been talking about it in our private group as well, and whether or not now, weeks
48:12
later, people are still seeing positive results, and it's still too enthusiastic.
48:16
Thumbs up.
48:17
So listeners, for what that's worth--
48:19
Jeff: Oh, I'm so glad to hear that.
48:20
Sarah: Yeah.
48:21
For what that's worth, it's not just Annette and I thinking this is cool.
48:25
We've actually brought it really hard to-- our members are no joke.
48:30
They're not messing around.
48:30
They don't have time to-- they treat their hosting, um, as a business.
48:34
Annette: So if you're not in our membership, what the heck?
48:36
Check the show notes for thattoo.
48:38
Sarah: Yeah.
48:38
We bring you new products first.
48:40
Annette: Before the show.
48:41
That way, our members have been in there increasing their bookings already.
48:45
So, Jeff, anything, um, last that you want to let our listeners know at all?
48:52
Jeff: No, I think we've covered it.
48:53
I just really appreciate the opportunity to, uh, talk to your listeners.
48:57
And if they have any questions-- oh, I think it's worth mentioning,
49:00
we just started releasing a lot of educational videos.
49:02
So if you just want the free analysis that we're running on all of these numbers,
49:07
like cancellation policies and things, you can follow us on YouTube and Instagram.
49:13
You're going to start seeing those videos come out pretty frequently.
49:15
We've just done a couple.
49:17
I think one was on the additional guests fees that I just mentioned
49:20
and the impact of new listings.
49:22
We just released the analysis on that.
49:24
So if you just want to know like, what does the data say on what works, you can
49:28
just follow us and get free education.
49:29
Annette: Love that.
49:30
Sarah: Amazing.
49:30
Well, Jeff, thank you so much.
49:32
With that, check the show notes for all the juicy links to
49:36
improve your bookings today.
49:37
My name is Sarah Karakaian.
49:39
Annette: I'm Annette Grant, and together we are--
49:41
Both Annette & Sarah: Thanks forVisiting.
49:41
Sarah: We'll talk to you next time.