How to Think Like a Brand Manager Instead of a Property Owner
Summary
This article discusses how STR hosts can improve their brand by thinking like brand managers, focusing on a specific guest avatar and providing a stress-free experience. It also provides insights on revenue management, emphasizing the importance of scheduled routines and identifying revenue signals, as well as the strategic focus needed for CEOs as their business scales.
Key Insights
- •Reviewing every booking reveals pricing and demand signals.
- •Small daily price changes can increase exposure on OTAs.
- •Being your own guest avatar is the #1 way to understand the needs of your guests.
- •CEOs often waste 30 to 50 percent of their time on low-value activities.
Action Items
- ✓Identify your guest avatar to understand their needs.Effort: lowImpact: medium
- ✓Schedule time for revenue management to identify pricing and demand signals.Effort: mediumImpact: high
- ✓Rethink priorities and identify the true bottlenecks that require CEO-level attention.Effort: mediumImpact: high
Tools & Resources
- →Free Workshop: FREE Workshop: Learn the 3-Part Process to Scale Your Airbnb Business to $1M+
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
- →Free Revenue Review: Get a Free Revenue Review → https://www.freewyldfoundry.com/report(https://www.freewyldfoundry.com/report)
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Curated by Learn STR by GoStudioM