The 'try before you buy' tactic in marketing is not a new one, but Airbnb and Realtor.com are taking this concept to a different level when it comes to the real estate industry.
The Airbnb Try Before You Buy Sweepstakes is encouraging house hunters to test-drive their new neighborhood, so to speak, by trying short-term rentals where they are interesting in buying a new home. A winner a week is awarded a $500 Airbnb stay as a part of this scheme. This gives people a chance to "live like a local" before they commit to a new neighborhood.
Interested parties can search potential properties on the National Association of Realtors's website or app. They will be automatically taken to relevant Airbnb rentals.
Key Themes Behind This Trend
- Try Before You Buy
- Disruptive innovation opportunity: Explore the potential for other industries to adopt 'try before you buy' campaigns to give consumers a chance to experience products or services before committing to a purchase.
- Short-term Test Drives
- Disruptive innovation opportunity: Consider implementing short-term trial periods for products or services in various industries, allowing consumers to fully experience them before making a decision.
- Live Like a Local
- Disruptive innovation opportunity: Create immersive experiences that enable consumers to live like locals in different neighborhoods or cities, providing a unique way to test out potential living environments.
Where This Applies
- Real Estate
- Disruptive innovation opportunity: Develop platforms or partnerships that combine real estate listings with short-term rental options, allowing potential buyers to experience living in a neighborhood before purchasing a home.
- Travel and Hospitality
- Disruptive innovation opportunity: Explore collaborating with real estate agencies or platforms to offer travelers the opportunity to stay in short-term rentals in different neighborhoods, enhancing their travel experience.
- E-commerce
- Disruptive innovation opportunity: Implement 'try before you buy' strategies for online retailers, allowing customers to test out products before making a purchase, potentially reducing returns and increasing customer satisfaction.
