Transcript: NATHAN BLECHARCZYK CTO and Co-Founder of AirBnB NATHAN BLECHARCZYK Last name is AirBnB Introduce your project here FIRST TOPIC BUSINESS REPORTS 2017 Q1 Insert your content anywhere SECOND TOPIC to present all the details ADD SUBTOPICS PROJECT ANALYSIS Insert Your Content Text Videos Images Symbols Change the Layout and Colors Change the Layout and Colors Change the Layout and Colors CONTACT INFORMATION How do people find you? CONTACT DETAILS CONTACT INFORMATION
Transcript: airbnb INTRODUCTION Introduction CEO Brian Chesky Founded 2008 191 countries over 7 mil unique stays ANALYSIS ANALYSIS STRENGTHS STRENGTHS popular check ratings guest help WEAKNESSES WEAKNESSES Lease violations Rules not followed Strangers renting to starngers THREATS THREATS OPPORTUNITIES OPPORTUNITIES PROBLEM PROBLEM Illegal short-term lease agreements and "party house" rentals leading to new legislation against shor-term rental homes Arizona Example Regulation of short-term rentals: https://www.azcentral.com/story/news/politics/legislature/2019/05/21/arizona-law-crack-down-short-term-rental-party-houses-airbnb-vrbo/3761624002/ GOAL GOAL "To create a world where people can belong through healthy travel that is local, authentic, diverse, inclusive and sustainable." Business Travel Accomodations OBJECTIVES Airbnb for Everyone Shared Media STRATEGIES Owned Media Airbnb Newsroom: https://news.airbnb.com/ Airbnb Blog: https://blog.atairbnb.com/ 1. News Release Tactics 2. Social Media Posts 3. Email Newsletter PLAN PROPOSAL Proposal Social Media SOCIAL MEDIA TWITTER: Hashtags #STAYCATION #DESTINATIONLOCATION #LIKEALOCAL Youtube Monthly destination video application Instagram Instagram story takeover with Super Host OWNED MEDIA OWNED MEDIA Airbnb Newsroom "Letter from the CEO" STATISTICS STATISTICS Vacation Rental Industry VALUE Airbnb Values at $31 billion TARGETED AUDIENCE TARGETED AUDINCE
Transcript: AIRBNB Clémence Tardivel - Kylian Corre - Elise Malingre - Loup-Quirec de Kermel MARKETING STRATEGY Summary Definition of Marketing Introduction of AirBnB A Customer-Oriented Company? Marketing Activities of AirBnB Summary Marketing Marketing "We are Airbnb's storytellers. The Marketing team is responsible for sharing the Airbnb love around the world. [...] We're the type of people who are struck by creative ideas in the middle of the night and can't wait to share them." Airbnb Indentify customer's needs 4Ps Communicate about the service Provide the best experience Definition of Marketing Marketing in this business model Know your customer Meet customers' need Expand your brand Tell your company's story Build lasting relationships Develop customer trust Introduction of the Company Introduction of the company Brief Presentation Brief Presentation Creation: October 2007, by 3 students (Brian Chesky, Joe Gebbia, Nathan Blecharczyk) Business model: Peer to peer business, shared economy based on social relationships. Aim: Use housing more efficiently, provide a single experience to tourists The Timeline The Timeline October 2007 January 2009 January 2011 January 2014 2017 Creation of Airbnb Becomes part of the Winter 2009 Y Combinator class. Begins operations in many cities around the world Grows and change its logo Reaches 200,000,000 members worldwide SWOT Analysis STRENGTHS diversity diversity innovation community WEAKNESSES not adapted to everyone only present on internet OPPORTUNITIES e-commerce sharing economy THREATS public powers competitors Customer Oriented Customer Oriented? Strategy Strategy Story-telling Rating system Customer = ambassador Provide the best experience Airbnb Workflow Model Airbnb Workflow Model Service Orientation Customer Orientation Marketing Activities Marketing Activities Marketing Strategy 1 Marketing Strategy 1 Host Stories - Simple & Effective Important part of Airbnb Marketing High involvment of the community Marketing Strategy 2 Marketing Strategy 2 Hollywood Vines short film competition to engage and incentivise create 6 seconds videos that Airbnb would later collect to create a short film. Marketing Strategy 3 Marketing Strategy 3 Guidebooks highlights from hosts' personal guides Marketing Strategy 4 Live there campaign "Feel like home anywhere" sums up Airbnb experience more traditional more authentic travel Marketing Strategy 4 Marketing Strategy 5 Marketing Strategy 5 Unusual nights Galleries Lafayettes Chenonceau Catacombs of Paris http://www.diplomatie-digitale.com/featured/strategie/strategie-digitale-airbnb-online-offline-1293 https://lareclame.fr/113638-parole-annonceur-airbnb https://business.lesechos.fr/directions-marketing/airbnb-reinvente-l-evenementiel-111260.php https://15marches.fr/numerique/airbnb http://www.lemonde.fr/economie/article/2012/08/19/airbnb-petite-start-up-deviendra-grande_1742148_3234.html https://www.airbnb.fr/help/article/1857/what-are-airbnb-service-fees http://www.liberation.fr/futurs/2014/06/08/tourisme-to-be-or-not-to-airbnb_1036451 https://startupdeleconomiedupartage.files.wordpress.com/2014/12/dossier-airbnb.pdf https://hbr.org/2014/10/how-uber-and-the-sharing-economy-can-win-over-regulators https://heidicohen.com/marketing-elements/ Sources Sources
Transcript: Student: Andrei Cazacu 07/06/2017 Sharing economy and the AirBnb case Introduction INTRODUCTION What these companies have in common? Online companies with no inventory. Collaborative consumption vs. production and consumption. Several companies that are expanding (incl. Airbnb) and disrupting the industry. New facile work for employees (freelance). Option for decreasing waste. Sharing vs. traditional economy Sharing vs. traditional economy Video - Sharing economy Video - Sharing economy AirBnb disrupting the hotel industry THE AIRBNB CASE Founded in 2008 as a start-up. HQ: San Francisco in USA. Available in 65.000 cities and 191 countries. Different types of acommodation. Homes, experiences and restaurants. Living as a local - full experience. Over 1.2mil listings and 35mil guests. Based on the experience in mass tourism. Vs. Traditional The business model THE BUSINESS Ansoff Matrix Ansoff Matrix Big investments in their own systems - to make the process easier, to hire photographers to visit and check apartments, hire talented employees. Internet-based company - global access for hosts and customers. Marketing as one of the main drives - social media, word of mouth. Expansion through the users. Working with big data and AI. Regulations as a problem - tax problems and pension schemes for freelancers. International growth through internal growth International growth through internal growth Acquisition of Spanish start-up Trip4Real - located in Barcelona Expansion by integrating activities and tours as part of AirBnb company. Synergies between companies - freelancers can create activities. More facilities for customers to live as locals. External growth External growth SUMMARY PROS: Generally cheaper than a hotel. More space, less price, options for rooms/apartments. More facilities/home facilities included. Unique - live like a local - experience. Opportunities to earn money out of commodities. Free marketing for the segments. No need to purchase the buildings, apartments. Review-based and local visits to assess the hosts. CONS: High marketing costs for the business. Slow booking process for customers. Cancellations for customers. Pensions and legislations for the freelancers. 74% of AirBnb are properties outside of the main hotel districts. 81% of hosts share the home in which they live. Last video How AirBnb went global
Transcript: Vidhita, Preet and Nishant Reservation Statuses New Pending Accepted/Denied/No longer possible Request Retracted Pending Verfication (0-1)/ Failed Verfication Checkpoint (12) Awaiting Payment (24) CBH/CBG/CBA/CBA* Password Problems Email and password, OR through a Facebook, Google+, or Weibo Macro: 1. Account :: Password - HIW User Issue: Account :: Password Be sure that the email address being used to log in is registered correctly Does the user have more than one Airbnb account? Did the user sign in to their account previously using Facebook, Google+ or Weibo? Has the user enabled Two-factor authentication? Two step authentication Google authenticator If the user does not have access to their smartphone in order to provide the additional authentication, and requests we disable two-factor authentication on their behalf: Fully authenticate user using the Account Authentication workflow: If unable to authenticate via phone or email, do not proceed. Become User by clicking the drop-down arrow in the top-left corner of the user profile picture in Nova Profiles. Navigate to Account > Security > Two-factor authentication, then select Set two-factor preferences, which will then provide the option to disable this feature. Special Case Pricing Categories Hosts have several options to set up their pricing 1. Customizing seasonal prices 2. Long-term weekly/monthly discounts 3. Adding additional guest fees, cleaning fees and a security deposit. 1. Dynamically set their price according to demand 2. applies to all future open nights on a host's calendar 3. the probability from the booking probability model, and comes up with a mathematical formula that translates that probability into a price. 4. Location quality,Features of the listing (e.g. wifi), Capacity, P2/P3 Impressions, Demand/supply in the market, Availability of surrounding dates. Smart Pricing Smart Pricing Not available for co-host, whiteglove people and host from spain To turn on Smart Pricing: Go to Your listings on airbnb.com and select a listing Click Pricing at the top of the page Next to Nightly price, click Edit Next to Smart pricing, click the circle to turn on smart pricing Enter a minimum and maximum price Click Save Not available for co-host, whiteglove people and host from spain Weekly and monthly discounts override smart pricing. Custom pricing (edited directly on the calendar) overrides smart pricing. However, if custom pricing was set before Smart Pricing, the custom pricing will need to be set again. Weekend pricing does not override smart pricing. Airbnb Update Barcelona Listing Update Around 3000 listings will be deactivated in Barcelona on 1 June 2018. Hosts will be notified on the 30 May 2018 letting them know that their listings will be automatically switched off within 48 hours. Listings will have a "Cannot Be Activated" flag—user accounts have been flagged by Tax & Legal. The city Hall of Barcelona has issued an order to cease to rent this property. As such, the listing is now in violation of Airbnb Terms of Service. Why is my listing being removed? Will you be deactivating my Airbnb account? No. Only the listings we have specified in the email will be deactivated. No, Be reasonable! Will my upcoming reservations be cancelled? Thank you :) Thank you
Transcript: Airbnb: Is it a Worthy Investment? - Piroska Horvath, Greg Houston, Abbey Mullan, Miracle Obih, Ailey Porter, Humera Rafique Interactive Activity Interactive Activity Questions for the audience Your thoughts Initial thoughts when considering hotels/accommodation? Airbnb? Customers of Airbnb? My experience with Airbnb My Airbnb Experience Website / Booking = Immediate access to information on accessibility, availability of calender and price - quick and convenient. Misrepresentation? Stay = Location, apartment, privacy, value for money What is Airbnb? What is Airbnb? Facts American vacation rental online marketplace Hosts- rent out houses, lodges etc Customers- pay for accommodation Platform for connecting hosts and guests Income from commission on bookings Founded: August 2008, San Francisco, California, United States Revenue: 4.7 billion USD (2019) San Francisco in October 2007, roommates Brian Chesky and Joe Gebbia idea of putting an air mattress in their living room Turning it into a bed and breakfast Facts 150 M+ total users on AirBnB 2M+ people staying in an AirBnB every night 5M+ global AirBnB listings worldwide $101B AirBnB valuation after its initial public offering 4M hosts worldwide Operating in more than 220 countries Value Proposition Value Proposition Affordability Convenience Unique experiences Strong customer relations Privacy Investment Approaches Investment Strategy Rational Finance Rational vs Behavioral Our Investment Values Rational Finance Rational investment Profit orientated Growth orientated Risk averse High risk high return Fact and analysis based Behavioral Behavioral Finance Not always risk averse Bias Social & ethical Influence Consciousness Emotion Unpredictable behavior What kind of Investors are we? We Considered: -Financial performance AND - Ethical - Value based performance AND -Broader Market & Company Analysis Porter &Kramer (2007) : Inherent link between good CSR practices and competitive advantage Finances The company has seen annual net losses every year since its launch. Although revenue has been increasing, so too have associated costs. Slow Revenue Growth . Finances Financial Year 2020 Nights and Experiences Booked: 193.2M (-41%) Y/Y Gross Booking Value: 23.9B (-37%) Y/Y Revenue: 3.4B (-30%) Y/Y Net Income/(Loss): 4.6B Improvements in our cost structure enabled us to reduce our operating expenses on a year-over-year basis in all categories. Financial Year 2020 Financial Future Financial Future Hope for the future: Predicted travel boom after pandemic. More than half of those surveyed (54%) said they either already booked, are currently planning to travel, or expect to travel in 2021 Stock Market At $180 a share, Airbnb trades at 30 times its trailing 12-month revenue. High cost of shares. IPO price of $68 a share Airbnb Values Champion the mission Be a host Embrace the adventure Be a cereal entrepreneur "Every frame matters" Diversity Values CSR Promoting positive environmental impact Employee Volunteering (4 hours of paid time off purely for this) 48.94% of workforce are women (goodbye gender roles) Open house program --scheme has helped more than 25000 people Stand up for their employee's rights surrounding race and gender identity CSR Ethical Issues Cameras in accommodation (measures should have been taken) More recently, it was discovered that more than half of owners were willing to host guests last month - did not seek valid reasoning Prioritizing profits over well-being of customers Continued advertising throughout the pandemic Cheap prices affecting locals No rules or regulations in "private properties" Ethical Issues Why are Ethics Important? IMPORTANT Companies who maintain a strong ethical identity usually have a higher degree of stakeholder satisfaction (growth) Being ethical ties into a company's long term profitability Lack of ethics can be critical to company (Canada Goose example) Studies show that 82% of consumers believe ethically aware businesses outperform competitors with a lack thereof Market Analysis Market Analysis Competitive Analysis HomeAway, FlipKey, HouseTrip Rapid disruption - $30bn worth in first 8 years (HomeAway = $4bn) Technology - competitive edge to traditional hotels? (3 click, quick booking process) Milennials. Tech knowledge, low cost budget, experiences (Don't go there, live there!) Framework: Porter's 5 Forces Overview of 'safety' of Airbnb 2 main competitors - regular hotels + other online intermediaries Possible competition from partnerships Airbnb can also do this (travel packages, Uber) Industry Rivalry Industry Rivalry: Medium Bargaining Powers Bargaining Power of Suppliers - Low Alternative - Empty apartments Bargaining Power of Buyers - Low Lack of competition Couchsurfing.org Amazon and Craiglist may join? (legal + social) Threat of Substitutes Threat of Substitutes - Medium/ High Threat of New Entrants - Medium/ High Platform could be replicated Strong customer base Another competitor would need lower prices or another
Transcript: Airbnb Business Model Airbnb Business Model Fiona Aron Jake Caldwell Marius Juva Steven Kleinveld Inka Nummi Joelle Siezenis Bennet Struck Value Propositions Value Propositions What value do we deliver to the customer? - a trusted brand for both guests and hosts - quality review system by the Airbnb community - trust and familiarity to reduce social uncertainty (Gefen & Straub (2004) - creating a sense of community (Kietzmann, Hermkens, Mccarthy, & Silvestre. , 2011) Which one of our customer’s problems are we helping to solve? - to balance the supply and demand for temporary housing. - more affordable option for guests - opportunity for income and usage for unused property for hosts - match making tool, both get what they want almost instantly, booking confirmed after 24h. What bundles of products and services are we offering to each Customer Segment? - Airbnb benefited from first mover advantage through novelty, lock-in, complementaries and efficiency - for GUESTS: easy search for a suitable accommodation, affordable stay and easy cancellation - for HOSTS: background check via previous reviews, 3rd party support Which customer needs are we satisfying? - for GUESTS: customization due to variety, more value due to affordable price - for HOSTS: risk reduction (insurance ), convenience (one platform), increase appeal of property "On the surface, what people come to Airbnb for is a new way to travel, but below the surface, what they find on Airbnb is connection." - Brian Chesky Customer Segments Customer Segments Creating value for whom? Multi-sided platform model with multiple customers: hosts and guests Most important customers? - Hosts - Guests Market Segmentation by behavior, geography, demography, and psychography Customer Relationships Customer Relationships What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Co-creation - manage interaction and disputes between hosts/experience guides and guests - manage interaction and disputes between Airbnb and hosts - manage interaction and disputes between Airbnb and guests How are they integrated with the rest of our business model? Customer segments - CS need to be labeled in order to establish customer relationships. Value Propositions - Airbnb's value added services being website/app usability and customer support are heavily linked to the strength of the customer relationships. Channels - Channels are linked to the website/app and customer support, which are indirectly linked to Value Propositions. Therefore the quality of the (digital) channels are strongly related to the strength of the customer relationships with Airbnb. Channels Channels Different channels serve different purposes for Airbnb: Transactional channels Marketing channels Paid vs free channels: Paid channels: Google ads, key campaigns Free channels: email, social media The importance of social media: Creating a community Cost efficient Falls in line with users' routines Channel Phases 5. After Sales How do we provide post-purchase customer support? 4. Delivery How do we deliver a Value Proposition to customers? 1. Awareness How do we raise awareness about our company's products and services? 2. Evaluation How do we help customers evaluate our organization's Value Proposition? 3. Purchase How do we allow customers to purchase specific products and services? Revenue Streams Revenue Streams Value guests - Cheaper prices, cultural proximity, and more amenities than hotels Value hosts - Monetizing their properties Two fee models - Split-fee model - Host-only model Payment methods - Guests are source of cash flow - Credit cards, electronic payment and iDeal - Secure payment Revenue
Transcript: An Evaluation of Air BnB's Online Community Platform Presented By Alyssa Puckett Hospitality in a Digital Age Purpose Purpose News Strategy Where we are Where we are x y Label 1 Label 2 Label 3 Update Update 1 Update Update 2 Announcements Success Company news Company news News News Events Events New employees New employees New hire New hire Name, Department Start date New hire New hire Name, Department Start date Special dates Special dates NAME Years with company Department NAME Birthday Department What's next What's next January February March Timeline Keep in mind Keep in mind Changes Changes
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