Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management Create Pricing Power on Airbnb Through Building a Brand
The Liquid Death water brand charges $5 per can. Why are people willing to pay a premium for their product when there are so many other options?
The secret is branding. And they’ve built a $700M company by telling a story that stands out from the competition.
So, what can you do to be the Liquid Death of short-term rentals? How do you build a strong brand that allows you to charge a higher-than-average price for your Airbnb?
Kaye Putnam is a psychology-driven brand strategist who helps brands uncover their innate brand advantage to attract more clients and customers online.
Kaye is also the host of Brand Gravity, a podcast that explores the intersection between branding and psychology.
On this episode of Get Paid for Your Pad, Kaye sits down with Eric and me to explain why STR hosts have more opportunities to tell our brand story than other types of businesses.
Kaye discusses how to identify the brand archetype for your Airbnb business and why even individual hosts should be intentional about building a brand.
Listen in to understand why unique brands can charge a premium for their product or service and learn how to create pricing power on Airbnb through your hospitality brand!
Topics Covered
- What inspired Kaye’s work as the psychology-driven brand strategist
- Getting clear on what you want to be known for and how to express that
- Why even small companies should be intentional about their brand
- How STR hosts have more opportunities to tell our brand story than other businesses
- Why identifying your brand archetype is the first step in building a brand
- How to leverage your brand archetype as a decision-making tool
- Kaye’s Brand Truth exercise for building an individual brand as an Airbnb host
- What it means to create pricing power through your hospitality brand
- Why the Liquid Death water brand can charge a premium for their product
- How pricing power comes from being different vs. just being better
- How much Airbnb hosts should invest in building a hospitality brand
- Why branding is becoming more important as the STR industry matures
Resources
Harvard Study on Purchasing Decisions
Subscribe to GPFYP on Apple Podcasts
Email team@overnightsuccess.io
Sponsor
Legends X Short-Term Rental Accelerator
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