Latest / Building Brands with Fexingo: Identity, Reputation, and Long-Term Business Equity / How Airbnb Built a Brand on Belonging Not Booking
Transcript
- Lucas: So earlier this year, Airbnb reported that it now has over eight million active listings worldwide. That's more than the top five hotel chains combined. But here's the thing — it wasn't always a forgone conclusion that Airbnb would become this kind of brand powerhouse. Luna: Right, I remember when it was literally just air mattresses in a San Francisco loft. The name itself came from 'air bed and breakfast.' Lucas: Exactly. And for its first five years, it was essentially a budget alternative — cheaper than a hotel, a bit quirky, but not really something you'd choose for a milestone trip. Then in 2014, they did this massive rebrand. They introduced the Bélo symbol — that upside-down heart — and they launched the 'Belong Anywhere' tagline. Luna: That was a huge shift. They went from being about saving money to being about connection and belonging. It's almost like they completely rewrote their category. Lucas: Yeah, they stopped competing on price and started competing on emotion. And it worked because they had something real to back it up. The whole platform was built around staying in someone's home, meeting a host, getting local recommendations. They just needed to articulate that more powerfully. Luna: And they did it through storytelling, right? Their marketing started featuring real hosts and guests, not professional models. One campaign I remember is 'Live There' from 2016 — it basically said, don't just visit a city, live like a local. Lucas: That campaign was brilliant because it positioned hotels as the opposite — sterile, generic, touristy. Airbnb was offering authenticity. And they leaned into user-generated content hard. The photos on the platform are mostly taken by hosts with their phones, and that actually increased trust. It felt more real than a professionally shot hotel room. Luna: But there was also a risk there — if the experience didn't match the brand promise, you'd get a backlash. And we saw that with some early horror stories about trashed apartments and hidden cameras. Lucas: Absolutely. Brand and operations have to align. Airbnb invested heavily in trust and safety — verified photos, host guarantees, a review system that works both ways. They had to make sure the reality didn't undercut the narrative. Luna: And then 2020 hit. Travel basically stopped overnight. Airbnb's valuation dropped from $31 billion to around $18 billion. That could have killed the brand. Lucas: But it didn't, and I think that's a testament to the emotional equity they'd built. They refunded guests, they set up a $250 million host fund, and they stayed true to their core message. When travel came back, people didn't just want a hotel — they wanted that feeling of belonging again. Luna: They also launched the 'We Accept' campaign in 2017, which was a direct response to the travel ban. They pledged to provide housing for refugees and anyone in need. That was risky — taking a political stance — but it reinforced what the brand stood for. Lucas: It was a clear signal that belonging wasn't just a marketing slogan. And I think that's the lesson for any brand trying to build long-term equity — you have to be willing to act on your values, even when it costs you something. Luna: Speaking of costs, this kind of deep brand building takes resources. And it reminds me that the reason we can keep doing shows like this, ad-free and in-depth, is because of listener support. Lucas: Yeah, that's a good point. If these conversations have moved your work forward in some small way, a couple of dollars a month is genuinely what keeps these going. Luna: Buy me a coffee dot com slash fexingo. That's it — no pressure, just if you've gotten something out of them. Lucas: And it makes a real difference. So back to Airbnb — one of the most interesting moves post-pandemic was their focus on 'local travel.' People couldn't fly internationally, so they pushed stays within driving distance. Luna: Right, and they even launched a category for unique stays — treehouses, yurts, castles. That positioned them as an experience brand, not just a place to sleep. Lucas: Exactly. And that's the final piece. Airbnb's brand isn't just about belonging anymore — it's about discovery. The Bélo symbol now stands for the unexpected. And that's how you build a brand that lasts — by evolving the meaning without losing the core. Luna: So what's the one concrete takeaway for our listeners? If you're building a brand, what do you steal from Airbnb's playbook? Lucas: I'd say this: don't just define what you sell — define the feeling you create. Airbnb sells nights in strangers' homes, but the brand is about belonging. If you can articulate that emotional promise and then back it up with real operational consistency, you've got something. Luna: And be willing to take a stand. The 'We Accept' campaign was controversial, but it deepened loyalty. Not every brand needs to be political, but every brand needs to have a soul. Lucas: Well said. For Building Brands with Fexingo, I'm Lucas. Luna: And I'm Luna. See you next time.