Hi, your question is confusing because it's not specific. Are you asking how to increase your nightly or base rate, achieve more occupancy, or increase your yearly revenue?
There are so many layers to marketing and revenue management. Airbnb does 98% of the marketing for us, which is their competitive advantage. It's a really valuable part of being listed on Airbnb.
However, it does not hurt to have linked social accounts that promote and send traffic to your Airbnb listing. You can use these to inform people about what is happening in your community, things to see, events to attend, places to visit, etc. You have to put on your "tourist hat." It does not need to take over your life.
To increase your nightly rate, you must understand the market your property is in. Hence, all of these additional software tools are popping up. You do not necessarily need them, although they can speed up research. You can do this by just looking at Airbnb from a traveling perspective. Decide on who your competitors are and I also look at local hotel rates especially if you have a 1, 2, or 3 bedroom property. The reality is that short-term stay nightly rates for some guests are being compared to a hotel. You need to know what this is, understand how your home/amenities and value stack up to hotels and other rental properties, and make informed decisions.
As for revenue management, you need to understand your base rate, seasonality, dynamic pricing, who will be renting short-term rentals, and why. Then, you will book your property more quickly for desirable nights. Once you achieve that, you can use or try different strategies to book those gap nights, increasing your overall revenue.
Some of this is psychology and understanding that having a booked night for a good guest is better than an empty night, which equals zero dollars. The market and pricing are always changing.
Also, I recommend making friends with other hosts in your area, even if they are 30 - 60 minutes away from your property. You can learn a lot from each other and learn about what is happening in your area.
Finally, talk to your local tourism director or bureau. Talk to the staff there. Get a sense of tourism in your market. They are the people who talk to all of us, hotels, and other businesses. They have a wealth of information.
Best Wishes!
Andrea
