Setting the right price for your space can be tricky. We wish there were an easy formula to share that would help you come up with the perfect price. The truth is, your space, facilities, and location are unique, and your pricing should be too. But, we do have some handy tips and suggestions to keep in mind when listing your space on Gaest.com.
Aim for good value
While pricing is entirely up to you, it’s a good idea to set a price that balances your Gaests’ expectations with what your space has to offer. When Gaests view your profile, they carefully evaluate the price based on what’s included and decide whether it feels reasonable for what they’re expecting. To imagine how they might react to different prices, it might be helpful to put yourself in their shoe fx by asking some friends for their opinion.
Level up for success
When listing your space on Gaest.com, it’s important to understand that it often takes time to ramp up success. If you don’t have regulars or 5-star reviews to help drive Gaests to book, it might be reasonable to start off with a lower introductory price. This could entice your firsts Gaests and help you build up reviews and word of mouth. Just think of your first bookings as investments that’ll help you grow in the future. Once you feel a bit more comfortable, you can start increasing your price. When you’ve hit that sweet spot, people will start to book, and then their positive word of mouth will spread.
Take a look around
When deciding on a price for your space, you might take a peek at what others in your area are charging. If you find your space online on Gaest.com, there’s an easy way to explore the ground: Scroll all the way to the bottom, and you’ll find three similar meeting spaces nearby. This might give you an idea of what’s out there. Remember to take capacity, interior design and equipment into account when comparing your space with your competitors. And, don’t just copy their price: it might be an unbooked space with an untested price you’re looking at.
And remember: The price of your space is entirely up to you. You can always adjust it and experiment with different levels until you find the right one for you.
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