Hi everyone!
I normally receive around 15-20 peerspace bookings per month. The past 3 months have been incredibly slow and I’ve had about 5 per month.
How’s everyone else doing?
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Hi everyone!
I normally receive around 15-20 peerspace bookings per month. The past 3 months have been incredibly slow and I’ve had about 5 per month.
How’s everyone else doing?
Hi Qasim! Thank you for your post. We’re moving your comment to a related topic where you might find some helpful information.
I went fro doing 15-20 a month to 0 for months and month now. I have over 200 5 star reviews. I just spoke someone last night that books all the time. What gives? I know there cleary is a strike that is effecting us all but it seems as though no one can see me anymore. Is there something I am not doing right? DO I need to change my prices?
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I’m in the same boat. Over 400 reviews and I’m just starting to break even for this month. At this rate I won’t be able to afford my studio unfortunately.
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Hello! I was getting a steady influx of requests and bookings and now it’s slowed down a lot. Why is that and how do I get more? Thanks!
Hi @Regina_R Thank you for your post! We’re moving your comment to a related topic where you might find some helpful information. However, if you have any additional questions regarding increasing the number of inquiries you receive, please feel free to reach out to Peerspace Support and we’ll be happy to assist further!
It’s the same for me. My bookings have dropped tremendously. I have even tried to lower my price on here and still no bookings.
Bookings for us have slowed down significantly since August. And I knew something was wrong when I had a hard time locating our space in searches. Eventually I found that we had been somehow moved to the wrong category so people couldn’t find us. I don’t know how that happened since I certainly don’t have access to that. I’ve also noticed that the response time from Peerspace and quality of assistance I’ve received has declined greatly in the past year. I wonder if the company has reduced staff and ad spending. It’s been frustrating to rely so much on outside forces for our financial health so we’re moving our efforts to market the space ourselves & are finally creating our own website. We were previously quite happy to direct our own friends and clients to book us through Peerspace but that just doesn’t seem worth it anymore for the potential algorithm juice. Hang in there everyone!
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Are other hosts wondering where their clients/bookings have gone? I’m used to at least one inquiry per week and multiple bookings per month. The past several months… almost nothing. Same space, same amenities, same availability, same host. Just lowered my price a little, but wondering if this is a result of the economy, or… Pls chime in if you’re in the same boat or have insight. Thanks.
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I’m right there with you (located in Los Angeles). It’s very concerning/frustrating.
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Hi everyone! As Peerspace continues to grow and experience a steady increase in bookings, we understand that a decrease in demand for your own space can be frustrating.
The addition of new hosts and spaces to the platform provides our guests with a wide range of options to choose from. To ensure that your space stands out among the rest, it is crucial to focus on certain factors that impact where your listing appears in the search results. Below are some of the key metrics used to determine your listing’s sort order:
Conversion Rate: The first metric used to sort listings is your inquiry-to-booking ratio. This means, the more inquiries you convert into completed bookings, the higher your listing will be ranked. Additionally, if you feel that a guest is on the fence about your location, we recommend sending them a custom booking offer with a slight discount. A sales mindset will be an asset to your conversion rate!
Response Rate: The faster you respond to all initial messages, the higher your listing will be sorted.
Reviews: The better your average review, the higher your listing will be on the platform. To achieve this goal, we recommend answering any and all pre-booking questions, making sure your space is in pristine condition when the guest arrives, and being on-site to assist with any issues. World-class customer service will be key in raising your review score!
Number of Bookings: The final piece of the puzzle is the number of bookings you execute. This metric is very much tied to the conversion rate.
Additionally, it is important to note that most guests utilize specific filters and keywords to search for their desired space. Due to this, we suggest highlighting any unique features or amenities that your space offers to stand out from the competition.
By showcasing the unique aspects of your space within your listing amenities, title, and description, you can increase its appeal and attract the attention of potential guests. This could include highlighting special amenities or features, such as Sound-Proof, Rustic or Outdoor Lounge.
By focusing on these factors, you can enhance the visibility and appeal of your listing, ultimately attracting more guests!
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Hi @Jacqueline_L,
These are all great tips, thank you. If we feel we’re meeting those suggestions, is there any other explanation to explain the drastic decline in inquiries/bookings? For example, is it a supply/demand issue (too many new hosts/listings joining the platform)? I imagine Peerspace must have some insight they can share since that’s all being tracked on their end. If it were economy related, then Peerspace would be experiencing an overall decline, and it doesn’t sound like that’s the case since you mentioned a steady increase in bookings on the platform.
Thanks again,
Jenna
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Yeah these are great tips and all, but I’ve shown my studio 3x over the last week and each time, the people were ready to pull the trigger only to then ghost me when I reached out to finalize the deal. Anyone else experiencing this? I’ve gently nudged each of them, but zero response. And they loved the studio space…bizarre behavior, especially since I’ve got great reviews.
Hi @Jenna_M, my pleasure! At this time, the information provided in my previous response is the most accurate explanation for the overall decrease in inquiries. However, if you would like for us to look into the specifics of your account and listings, please feel free to reach out to our Support Team directly and we will be happy to assist further!
Hi @Jon_M I tend to have accurate pictures of our space and encourage the renters to be descriptive with the reviews and most importantly we dont show our space as weve found it to be a huge waste of time.
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I may need to implement the “no showings.” Thanks!
I am right there with everyone else in seeing a drastic decline in bookings since being on the platform. Now reading here that the number one metric used is the “conversion rate” it’s no wonder my bookings have been a ghost town. The number of lookie-loos I’ve gotten over time being on the site that will never end up booking have basically tanked all hope of coming back up for air. Is there a way for you to reset this @Jacqueline_L ? I’ve been here replying back asap to guests, getting 5 star reviews, and until this conversion mess was getting a great steady amount of bookings. Realistically it seems like these metrics should be flipped. Instead the feeling I’m walking away with is “It’s your fault, do a better job converting or else!”
Sad, because I’ve been a long time advocate of how great Peerspace has been only to kind of read this and feel hung out to dry while others come and are now taking advantage of a platform I’ve helped give some cred to. I don’t know, maybe time to look elsewhere for offering my space?
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Hi @Sunny_P – We appreciate you taking the time to share this feedback! I will begin reviewing your account and follow up with you directly via email with more information. Thank you for your patience!
I’ll also add that it seems like awarding conversion rate is a sure way to boost the cheapest listings which frankly makes this a race to the bottom. That’s bad for everyone. It seems like at least some consideration should be given to how much money a space actually earns for the platform. I’ve seen spaces listed for like $15/ hr. I’m sure they are booked constantly and convert the vast majority of inquiries but how much can they possibly benefit Peerspace financially? I don’t even know how such a space can possibly even make ends meet but cheap cheap prices are bad for everyone, it devalues what we do and sets an unrealistic standard for what guests expect to pay.
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