Business Success Stories: What is Airbnb and Why is it Successful?

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Airbnb is one of the most well-known brands out there when it comes to the hospitality industry. It’s well-recognized by travelers and business owners worldwide. But its billion-dollar success story comes with hardships and advancements along the way. There many reasons this company is considered to be such a success today.

Here are some of them:

Focusing on User-Experience

Many tech companies have looked into how to make consumers more comfortable with their businesses throughout the years. User experience was a priority for many of these tech companies because there’s no reason for consumers to use their apps without it. In Airbnb’s case, it knew that if it doesn’t improve its user experience, no one will book a room through the use of their app. They’ll probably go and check in some hotel out there with a better app and convenient room service. So Airbnb poured millions into streamlining their app and making it a worthwhile experience.

Today, Airbnb is one of the most convenient apps you’ll use. Once you open it up, you’ll literally feel at home. The colors they have used are appealing to the eye, and the pictures of different homeowners smiling at you are all too amazing. It makes you feel connected. But there is more to the app than its aesthetics. Once you start to look for a place to book, you can use multiple filters that help you streamline your search: location, price points, availability. You name it. The filter has it. It’s great if you want a specific room booked on a particular day that’s well under your budget.

Nothing ever comes close to the user experience that Airbnb provides. Even Amazon, one of the biggest e-commerce companies out there, struggles with improving user experience on their site.

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Branding

We can’t have a success story without talking about the brand. Many successful businesses worldwide are recognized by consumers worldwide, and Airbnb is very well-recognized by almost everybody. Once you see their iconic logo, you know it’s Airbnb.

Branding plays a big role in dominating any given market. If your target audience doesn’t know your brand, the less likely they will buy your products or hire your services. Airbnb was lucky to be one of the first to arrive in such a market. It wasn’t a disruptor. It was a pioneer. However, this doesn’t mean that it didn’t spend anything on branding. Brand health tracking and research were some of the many investments the company made in 2020. The company knows that the only way it can grow is to trust the brand more than its competitors in the market. Furthermore, the more people recognize its brand globally, especially in far-flung places, the more they are likely to join the company.

Airbnb relies on people to gain revenue for them. At the same time, people rely on the Airbnb brand to bring in clients for them. This is how their business model works and why the company invests so much into branding. And why it’s one of the most successful startups out there.

Booking Everywhere, and at a Cheap Price

If you ask any business owner out there or professors in the field of business regarding Airbnb, they will tell you that it is an essential business venture. Airbnb is important to many people in the world, no matter their age or profession.

We’ve had problems looking for a place to stay for work or vacation ever since the turn of the century. Our lifestyle was becoming more active and on the move, but sadly the whole world was lagging. It was only when Airbnb started in 2009 that the world decided to catch up. It started in the US. An app that helps people book convenient rooms at a very affordable price. It had its own criticisms, but eventually, the company silenced all of it when it improved on its safety regulations.

Airbnb grew throughout the years and started to expand into many other countries in the world. Today, you can find humble homeowners willing to rent their apartments or condominiums for a low price. They even offer utilities that can rival that of hotels.  What else can you ask for?

If it weren’t for Airbnb, we’d be stuck booking rooms for an average of $126 a night. Airbnb offers rooms for a fraction of that price, with the same utilities and comfort. Sure, it might not have room service, but why do you need that if you’re only spending a night? It’s convenient, cheap, and accessible. This is why Airbnb is such a successful business today.

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