Most of the effective hosts value their guests’ experience. Guests feel valued through great experiences. It’s a nice idea to set a price that balances your guest’s expectations with what your Airbnb has to offer.

Setting standards

Guests carefully evaluate the price based on experience reviews and activities offered. Eventually, this helps them decide what is fit for their expectations. So, while pricing, it is helpful to put yourself in the guests’ shoes and see how they might react to different prices.

Guests often calculate the differences between the cost of offered experience to the price they would pay to purchase on their own. They really wonder about doing it on their own rather than booking. 

They may also look for “hidden” costs into their total such as transportation to/ from the experience location, additional fees for rental, etc. Read more on how to improve your guests’ experience.

Signifying exclusive value

When highlighting your experience, you could share the story of how you got influenced to start in the activity or mention times you were recognized for being outstanding for the activity. Always keep in mind to include the value of the host and user to your experience offered.

Share from your passion and sincerity. Guests are willing to pay more based on their host’s proficiency and the special feeling they received. People come for something they can’t find elsewhere, so it’s better to be unique and let love shine through. 

Look for possible stories that may strike your guests’ attention- family stories, passion for cooking, 90’s music hits or adventures of life. 

Adjusting the right price

Feel free to experiment and control your price. Eventually, you’ll find what works best for your Airbnb. Adjusting the right price makes you see how it impacts the demand. 

Find your right spot, so that earning keeps in constant. You can also experiment with what’s included to reduce price and expand your audience. 

Several successful hosts champion their practices in managing prices in their Airbnb by starting at low-cost experiences offered and then later adjusting the price depending on the guests’ feedback. Read more about managing your Airbnb here.

Ready to run your hosting business?

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If you’re already using Runbnb, you can login to your account here to test out the updated hosting experience.

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