This YouTube video ("Things to do during corona crisis 🚀", Mark Simpson, Apr 16, 2020) is a conversation offering practical tactics for short-term revenue preservation during COVID-19. Key recommendations include converting cancellations into date changes via proactive outreach ('change, not cancel'), targeting local guests, preparing/listing spaces as 'event-ready' for professional events (filming, receptions), and renting space to e-commerce/shipping operations.
The one big takeaway from all of this is that even if you see a cancellation come through, it doesn't mean that it's lost revenue. The big message that I've been pushing is change, not cancel. When a cancellation's come through or a cancellation request has come through, we've been picking up the phone and being proactive.
What about in these times, something you should do is you should be targeting local, local guests. And a great idea is to make your space event ready or even better list on an event ready type space. People who are, you know, these are, a lot of, these are college students doing videos or whatnot. You have to have the house, the setup to do an event ready space. But this I think is a good idea. Event ready can be anything from like, let's say they want to shoot a part, a part of a movie or a commercial or they want to have a reception there or, or any, any kind of an event. But these are usually professional type events where they, you know, they bring in cleaning staff themselves. They don't use the kitchen, they don, they don't stay overnight though. There's going to be more foots, more people at your space.
I think it obviously depends on what the current situation is wherever you are in the world, like with lockdowns and whatnot. But yeah, I think there's so many, there's so many different proactive things that you can be doing right now. We spoke about it in Wednesday's Live and last night's Live as people that I know that have changed their current setup and they are just like what smart BNB are doing with the foot shake idea. People are renting out rooms in their apartments or in their places for shipping companies. So basically people have, obviously online online shopping now is massive and people haven't got the space in their warehouse to pack and get all the stuff in and out. So they're looking for more venues and that's what they're also looking to do. They're contacting people via Airbnb.
