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Featured

How do you analyze your competitors

I usually take a look at the map to see how is around me and then I do some searches for prices using a spreadsheet to have everything on one page.

But prices changes every day and customers do not only decide by the prices.

How do you do a more qualitative analysis?

 

Thanks for sharing your tips!


B.
Sergei - Commu…

Hello, Miguel! Welcome to the Partner Community, and thanks for asking a really good question. I've featured your post to make it more visible to other partners. 

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Jan Gijsbrechts

Hi Miguel,

 

Booking.com has a dashboard where you could analyze your competitors (RateIntelligence) where you see your prices and you competitor's prices. You can subcribe to it through the Admin page under Analytics.

Otherwise there are third party providers that give loads of analytics and reports on RM strategies as well. Look at QL2.com, Rategain.com, these are companies that specialise in doing webscraping for hotels and other tourism industries. Obviously comes at a price.

Otherwise there are quite some online tools where you can built your own free (or almost free) scripts to webcrawl these prices.

 

Hope this helps

 

Jan

 

10
M Adamopoulou

Hi Jan and thanks for sharing your experience...

Your bnb is very exotic!!! A beautiful place for holidays!!!

As you mentioned above I also use the dashboard of booking.com for more info... I only have one Studio so there is little work to be done.

Wish you all the best.

 

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Miguel

Thanks, both for your comments.

My question was more about what do you think that customers value more? I mean, of course, price and location are super important. What else? Don't you analyze what other bnb competitors offer or show in the pictures and descriptions?

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Sharon Powney

That is a difficult question because different guest want different things.  I think about what I look for when I book as a guest.  So plenty of photos that give an accurate picture of what you get.  Lots of older guests cannnot get into a shower that is over a bath, so make sure you have good bathroom photos to show all the facilities.  Guests are more likely to look through photos than to read all the information.

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Apartmani MONAKO

In my experience what triggers guests to book your place instead of your competitor, next to price and location, the super important is your price. You must have a competitive price if you want to win over your competitor that is on a similar level of quality, location, etc. Guest love to book a place with a discount or price that fits your apartment because most properties have price over their real quality. 

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Miguel

Thanks mates for all your comments. It is really useful to have feedback from hosts.

Agree that pictures are the most important. So, in a glance:

· Good location (I can not change that for the moment :) ) · Discounted prices. Maybe not just the prices but also the cancelation policies, min stay, ... · Awesome pictures (at least 8) showing what do we really offer (bathroom, beds, pool, bbq, ...) · Super good reviews

Kind regards,

 

Miguel G.

Hosting since 2013 and Sync Rentals owner

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Sharon Powney

I recently went away for a weekend and when I booked it, about a month ago, one of the things I looked for is being able to cancel closer to the time and get a full refund or not pay until I arrived.  With covid changing guests ability to travel it is important to provide flexibility.

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M Adamopoulou

Hi Miguel,

Exchanging ideas!!!

This is why Partner Community made for and why I love contributing!!!

Most of my guests explain to me the reason they decide to come to us...are the great comments we have in our Reviews!!!

Reviews are very important for guests...and of course for us also...

Thanks again Miguel for posting and wish you a splendid day.