Increase Your Airbnb Revenue With Beyond Pricing - Product Review | Dynamische Preisgestaltung Ferienhaus Ferienwohnung
- Dynamic pricing might be the single largest thing you can do to immediately improve your revenue and profitability.
- What does dynmaic pricing mean? Let’s have a look at a real-life example. When you buy a plane ticket, the guy sitting next to you might pay a totally different price and you don’t quite understand what the algorithm is (it could be higher or lower, it could be based on whether it’s the last seat or the first seat sold etc.). That’s what „Beyond Pricing“ does for Airbnb and Vrbo listings.
- Beyond Pricing takes a look at all the different supply in your ZIP code. They get really granular (your neighborhood, maybe even your street). Beyond Pricing sees how many listings are available on a given night. Then they take a look at what’s called demand (Is there a reason for a probable increase in demand? – e.g. because of a conference, sporting event, concert). Beyond Pricing is balancing those two things out (supply and demand) so that you get the maximum amount of money per night for your vacation rental.
- According to Beyond Pricing their users make an average of 10% to 40% more money on their listings.
- Beyond Pricing gives you a free month trial. Afterwards they charge you 1% of earnings.
- You’ll only have to set a „Base Price“ and a „Minimum Price“. Everything else is handled behind the scenes (e.g. seasonal factors, day of week etc.).
- Within your dashboard it’s easy to turn synching (with Aribnb) on or off. You can also have a look at specific market data, the things that go into their algorithms (e.g. neighborhood occupancy, neighborhood pricing, hotel pricing). Besides this Beyond Pricing provides several metrics (health score, booking percentage over the next 30 days, booking percentage over the next 90 days).
- Revenue per available night, average daily rate, occuppancy and average stay length are some of the stats you’re going to get access to as well (see how you’ve performed).
- Although it doesn’t work yet in all international locations, Beyond Pricing says that about 85 % of the marketplace is already covered (more and more over time).
(Source: via @imrichardfertig – Get full details at https://youtu.be/AJTeoYDqkWo )