What you write on your online experience page helps potential guests understand what they’re doing, but there are some very concrete considerations that help them evaluate whether what you offer is worth what it costs. However, there are many factors other than cost that go into determining the overall value of your experience.
People want a good deal, so try to balance their expectations with what your experience provides. There’s already a lot of free content online, and expenses for an online experience are generally less than what it costs to host in-person, so consider reducing what you’d typically charge per guest.
- Start at a lower price, then when you get enough practice and 5-star reviews, you can begin to increase what you charge. Keep in mind that you’ll be competing with the breadth of free online content already out there.
- Consider the supplies you’re asking guests to bring to the experience. These come at an additional cost and are a big factor in calculating how much people are willing to spend on your experience.
🕵️ Research Findings:
- People do a mental calculation to assess value. The formula? Interest in topic + group size + length of experience + supplies needed = value.
- The #1 reason people are willing to pay versus taking a free alternative: The ability to interact live and learn from the host, get questions answered, and even be held accountable.
- Experiences related to societal context hold a higher average value. Many people want to invest more time learning to cook right now, so cooking experiences have more relevance and value than usual.
The ideal length for online experiences is 1-2 hours. It also helps minimize the physical strain of extensive screen time and is respectful of guests who share devices or have bandwidth, data, or technical limitations.
Is your experience more interactive with less people or more fun with a larger group? Keep in mind that small groups make it easier for guests to connect with you and each other, especially in an online environment.
- Set your group size below the maximum of 10. This will make it easier for guests to interact with you and each other.
- Consider what works best for your online format, the activities you have planned, and the nuances that come with video calls.
🕵️ Research Findings:
- Connecting with hosts and fellow guests, resonates particularly strongly with people who consider booking an online experience.
- Being able to interact in small groups is a huge driver of value—it’s the key differentiator between Airbnb and the free or pre-recorded content available from competitors.
With an online experience, you can truly reach a global audience. To capture more guests and even more bookings, try hosting with a more flexible schedule and increase the number of dates and times you add to the calendar.
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