February 2, 2015
Airbnb Opens Doors to a Wealth of New Startups
How does Airbnb use data to drive growth of not only their company, but a wealth of new companies centralized around their proprietary concept? Data Management Organizations (DMOs) are employed to conduct test after test in order to optimize the site and technology for such a broad audience. Not only does this data provide us with information regarding sharing economy developments and our trust within society, but it’s also greatly affected the industries in which it’s transforming.
The travel industry is perhaps the most widely affected by Airbnb and other resemblances of the sharing economy. These social, economic, and technological changes that are driving travelers toward the sharing economy have gotten a lot of other startups thinking how they can hop on the rise of the sharing economy and make their own success.
New Ways of doing Business
The sharing economy has got us all thinking of new innovative ways we can make money by essentially renting different aspects of our lives. Part of the reason why Airbnb was so successful was because there was ample amounts of both supply and demand in the travel market. Buyers know that there’s an abundance of high-quality options for their accommodations and at the same time sellers can see the worth in return. Once there’s liquidity in the marketplace, the company can grow; and grow quickly.
People know that they can’t compete like an entity startup with Airbnb. That’s why people have become smarter by doing less and in the spirit of the sharing economy, working collaboratively with Airbnb. Guesty works with every Airbnb host and takes care of all of the management aspects for them: everything from scheduling cleaning, communicating with renters, and optimizing listings to get you more bookings. It takes a creative and innovative mind to find new ways to tie your business into the already growing sharing economy. If you can find your niche of something that could supplement or add something to businesses you’re already working with or using, pursue it.
Find your Inspiration
A tool I like to use for inspiration is Product Hunt. They provide a simple search engine to look up any technology or product on the market and they’ll show you all of the competition or similar products doing the same thing. I entered Airbnb into Product Hunt to get some more ideas of ways we could penetrate into the sharing economy. I was in awe of all of the ‘sharing’ inspired ideas that were actually available impacting the travel industry.
Everything from Airpnp, an app that locates you to the nearest restroom that someone’s renting out from their home. To Holidog, an app that sets dog owners that are going on vacation up with people who want to pretend they have a dog. Without the interruptive and great success of Airbnb would these other apps have succeeded in the travel industry?
Airbnb not only inspired all of these smaller business ideas for Airbnb for dogs, Airbnb for boats, etc. but they made it possible for them to be successful in a travel industry that’s being reshaped by sharing.
The technology behind all of these apps helping to transform the travel industry is essentially the same. Since Airbnb was built upon open source all of these other sharing platforms were able to utilize the main developmental parts of the platform to create their own apps in an IT sense and distribute them likewise.
The next level of transformation in this industry is already on its way with UberChopper which provides flights from NYC to the Hamptons. Other services are quickly catching on: JetSmarter now offers an app that for the right price will fly you in one of their 3,000 private charters to your next destination without all of the airport and traveling hassles.
It’s quite probable that soon Airbnb will integrate with a GDS to compete with other realms within the travel sector. Airbnb may soon try to penetrate the travel search engines, expedia and kayak of the like, to offer not only experiences, and lodging but also shared flights, shared car services, etc.
Just a few years ago it would have been absurd if people were talking about lending their dogs to complete strangers, or going to a stranger’s apartment to use the restroom. Today, it seems as if you’re not on the sharing economy band wagon you’re missing out on huge opportunities within the travel industry.
There’s a lot of ways you can take part and get involved from renting out your apartment when you’re on vacation, to initiating your own platform to allow sharing of our resources. If you see a large demand for something and you can find the equivalent supply you’re on to something, because today as it seems we’re willing to share just about anything.
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