Airbnb Clone App: How to build an app like Airbnb?

It’s no longer a big deal to find a reasonably priced place to stay when traveling. All the gratitude to Airbnb – an innovation that reshaped the rental housing market around the world. What’s interesting about Airbnb is how the business expanded so rapidly, simply providing homeowners a platform to rent their homes and rooms, and giving people who are traveling all over the globe a sense of home.

But before you check out the Airbnb clone script and get the app booked, read this article to find out how the Airbnb clone app actually works? What are the features you need in your Airbnb clone? And what does its business model look like? And more.

Monetization model: How will your app make money?

Considering the fact that most apps are free at the point of installation, the app business model needs to be adjusted to equalize this. Hence, app monetization is a necessary aspect. There are lots of app monetization strategies and models in the market. Some more popular than the others.

1. Data Monetization

Considering the large app audience, a Data monetization model can be applied here. Whenever a user interacts with your app, they generate some data. This data information can be anonymized and quantified. It can provide valuable insights into customer behaviour. The data collected in this way can be used for a developer’s own needs to understand the user behaviour, when the app is used, where users interact with the app, and where to improve.

The biggest benefit of using this model is that it does not hinder user experience in any way. Another benefit is that it is platform independent, as the revenue is generated externally. Which means that there’s no commission with the app stores. And you do not have to worry about which platform your app is most prominent on.

1. Referral program

Apps like Airbnb generally use the referral model for inexpensive user acquisition. You may think that referrals cost a lot of money, but it’s the opposite that is true. Not only is it inexpensive, but also has high ROI. The only major cost of your referral program is the amount you’re offering to your current users and new users, which by the way, isn’t as large as it seems.

Let us take a look at the referral program of the Airbnb app. When any current user of Airbnb refers the app to a non-user, both of them get a $20 credit towards a ride, bringing their user acquisition cost to $40. This number may seem high, but it isn’t. A case study shows that an average customer of Airbnb spends $95 per month, with 25% of those fees going straight into Airbnb’s pocket. They can easily benefit from these new users depending on the duration of that new customer’s life cycle in the app. So even if the initial investment sounds high, there are strategies with which you can generate ROI at the speed of light.

But to attain this, you need to brainstorm all the methods of monetization and find out the best one. As a development company, our developers not only dive deep into the app features but also bring out the best possible monetization strategy model for that app.

WRAPPING UP…

Woah! It’s amazing how these companies have grown.

You can be one of them. All you need is to decide whether or not you want to serve a specific location or cover a larger area and then the right partner to give your application a strong foundation.

With 13 years of technological expertise, BiztechCS can help you build an online booking app with all the features of Airbnb. You want to integrate a verification process like Flipkey or discounts like Roomorama, we’ve got it all sorted for you.

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