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.
Neighborhood-Testing Sweepstakes
The Airbnb Try Before You Buy Campaign is For Future Home Buyers
Trend Themes
1. 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.
2. 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.
3. 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.
Industry Implications
1. 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.
2. 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.
3. 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.