Coach Cav FB Live w/Dr. Ginsburgh - Turn-Key Airbnb and finding unique VALUE
In this video w/Dr Rachel Ginsburgh of Short Term Rental GEMS we discuss the Unique VALUE proposition in STRs, how we operate in the sharing economy using RVs and other unique rental options.
Our VALUE gap analysis form is not a replacement of how you conduct market research and analysis, but simply provides an alternative way to understand your market value by determining market gaps.
Work from L to R beginning with traveler demographics.
- You'll never understand what gaps exist if you don't understand who's traveling. I understand the conversation around finding "Your Avatar" we give you a broader look at those and simply say that you can market to many regardless of your brand i.e. Luxury, large groups etc.
- Value gaps. Airbnb filters can help you understand what's missing in the market. For example, I can go to Calgary and look for 5bd rm homes that sleep 10+ people, allow pets and have kid-friendly amenities to understand what exists in the market and what's missing in the market.
- Unique VALUE - When what you offer allows you to compete with less than 5-10% of the market. This then turn into a "How do I price my Unique VALUE in my market?" We then use our pricing tool to determine where to price against our market VALUE.