How to Increase Your Profit Margin by 3% Using a Force in Human Nature
Summary
This video explores how to apply the behavioral economics principle of 'herding' to short-term and mid-term rentals. Host Al Williamson explains how providing social proof and framing choices as 'most popular' can guide guest behavior, increase referral revenue, and significantly reduce utility expenses by leveraging the human tendency to follow the crowd.
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Curated by Learn STR by GoStudioM