Airbnb Marketing Strategy
INTRODUCTION Airbnb, founded during the economic downturn of 2008, is one of many innovative businesses operating within the growing shared economy. Airbnb offers an alternative to the traditional hotel business and allows property owners, termed “hosts,” to advertise and rent their extra space, be it a spare room, apartment or treehouse. “Guests” search through the Airbnb website, read reviews and connect with hosts to find less conventional and, often more, affordable lodging. Key to Airbnb’s business success is establishing a framework of trust on which both hosts and guests can rely, a system Airbnb has developed through a strong marketing strategy and through specific practices that support host and guest throughout the rental process. Building this framework of trust in the system is a focus not just for Airbnb, but is also typical of a company operating in the new sharing economy.
WHAT IS THE SHARING ECONOMY? The sharing economy is a new economic opportunity for customers to access goods whenever they are required at that moment - with access trumping ownership. For example, if a person only uses a car once a month, they could rent a car from a sharing economy company like ZipCar instead of paying a monthly car payment for a car they barely use. Following the economic recession, many Americans have become less wasteful in using their economic resources. In addition, more Americans are expressing an interest in being more socially conscious of green initiatives and other social responsibilities (Neilson). These trends have resulted in a new focus on shared resources.
Beyond just the economic benefits, goodwill and community building are important drivers of the sharing economy. Today, people who feel the burden of the current economic period may prefer to rent or sell to their peers instead of giving their business to major corporations. Furthermore, the Consumer-to-Consumer (C2C) business model is allowing many individuals to exploit their own resources
WHAT IS THE SHARING ECONOMY? The sharing economy is a new economic opportunity for customers to access goods whenever they are required at that moment - with access trumping ownership. For example, if a person only uses a car once a month, they could rent a car from a sharing economy company like ZipCar instead of paying a monthly car payment for a car they barely use. Following the economic recession, many Americans have become less wasteful in using their economic resources. In addition, more Americans are expressing an interest in being more socially conscious of green initiatives and other social responsibilities (Neilson). These trends have resulted in a new focus on shared resources.
Beyond just the economic benefits, goodwill and community building are important drivers of the sharing economy. Today, people who feel the burden of the current economic period may prefer to rent or sell to their peers instead of giving their business to major corporations. Furthermore, the Consumer-to-Consumer (C2C) business model is allowing many individuals to exploit their own resources
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