11 Key takeaways from Airbnb’s growth strategy
We’ve written a 29,000 word case study breaking down the growth strategy for Airbnb. (Click here to read the full case study)
In this video I’ll be sharing 11 key takeaways that we observed from analysing the 35 billion dollar business.
Diversify with relevant products
First, ensure long term business growth by building products that you can upsell or cross sell to existing customers, rather than relying solely on new customer acquisition.
Personalise your website experience
Next, improve the user experience of your website or app by using your customer’s previous purchasing and browsing data to display the most relevant content on your website the next time they visit.
Focus your search budget on high intent keywords
With paid search, spend most of your budget on the high intent keywords that have the highest relevance to your product offering. Then make sure your ads stand out from the competition in order to secure the click, and ultimately the conversion.
Automate and personalise your email marketing
Combine automation and personalisation to deliver emails that are highly relevant to your customers, and send them at the times when they are most likely to drive engagement and conversion.
Invest in SEO
Make sure that you invest into both on-site and offsite search engine optimisation so that you’re not reliant on brand growth to drive organic traffic to your website.
Get the most out of your content
Leverage content to support your customers’ purchasing decisions, but get the most out of it by ensuring you also push them to the next stage of the funnel, and use it to acquire backlinks from other websites.
Use social media to nurture and convert
When it comes to social media, use organic channels like Instagram to nurture your audience and paid channels like Facebook ads to drive the most engaged or high intent people to your site in order to convert.
Speak to the needs of your audience
Speaking of Facebook ads, make sure that your ads speak to the needs of your audience and how you can benefit them, rather than focusing on the features of your product or service.
Make referrals simple and personalised
Referrals are a great source of businesses. Set up a referral system that is easy to understand, and leverages the relationship between your customer and the person they are referring you to.
Build a community
Create a platform for your users or customers to engage with each other in order to build a community that encourages them to keep using your product or service.
Share what you believe
And lastly, don’t be afraid to run campaigns that showcase who you are in order to connect with your target audience. This well help you stand out from your competitors and build a relationship with your customers.
Those are the 11 key takeaways from Airbnb’s growth strategy but feel free to check out the full article for a more in-depth analysis.
Thanks for watching, I’ll be back soon with more.