"How To" Demo of Art
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Rented's Talia Lockard, Director of Business Development shares a demo of Art, Automated Rate Tool. You can create a free account, import listings from Airbnb, and use the revenue management and dynamic pricing tools today. Rented is a team of Revenue Managers who manage thousands of listings all over the world and we built Art based on the tasks and actual work of a revenue manager, resulting in the most efficient pricing tool available.
The best way to understand Art is through demonstrating how to perform pricing and revenue management. Check out the video, and here is additional information about Art, how it works and why it is different. If you are ready to go, sign up for FREE here, or if you have questions just request a demo with our team.
Where Does Rented Get the Data for Art?
There are numerous sources that feed into the data warehouse for Art, here's an overview:
- Art is looking at literally millions of listings every single day, multiple times a day, to get their rates, how they're booking, occupancy, booking windows, and more.
- Additionally, Art is built on a foundation of data science to clean this data because we know a block or an owner hold is not the same as a booking at a full nightly rate. Art is constantly cleaning data across those millions of listings.
- Rented manages revenue for thousands of listings, our revenue management team internally is using Art. And so through our internal resources, we have human learning. We say "Here's what's working, here's what's not, and there are some little quirks here."
- We are constantly making each of these smarter by increasing the dataset, but also in how we're looking at the performance of those data models over time. Art is evaluating constantly “Is this suggestion working? Is the listing making more money or not?”
How are Art’s Models Different from Others?
Many tools and revenue management practices have been based on historic pricing. This is a focus on what the rates were in the past, and then extrapolating data and projections based on that. If you are familiar with the financial management space, they always say past performance is no indication of future performance or future success. And so we looked at it and said, well, it doesn't really matter what it did in the past. While we want to know the past performance, but what really matters is what does it look like today?
This means Art is based on demand. How is the market pricing today? How is the market booking today and thus, what do you need to do today based on today.
Why Does Art Seem So Easy?
Because it is! At Rented we wanted ease of use to be the top benefit of using Art. And so instead of loading up features, we ask “What am I trying to achieve with my revenue management strategy? What am I trying to achieve in terms of driving as much revenue from this property as possible?”
Art is built to look at the end result, instead of providing bells and whistles and features, we bake it into how Art works. You don't have to include feature functionality if you build a tool to work properly in the first place. So it's so easy because we made it that way.
We just made it really intuitive and simple to be able to do revenue management and dynamic pricing because we know it's not important to have a thousand things that you don't really need but might be curious about. You'd rather have the five things you really need and make those very easy to use because as a property manager you have enough on your plate.
You want to keep it simple, like simply run it, just keep it simple. Keep my properties filled with the most money as possible coming into me and my owners. That's, what Art does.
How Can Art do This?
What is relevant today in terms of driving your revenue and your performance in your business? Art is solving for this solution. That's how our technology team designed, developed, and built the tool. We have revenue managers and property managers on our team, and everyone has done things differently with different tools, and assets in the past. But ultimately we are all trying to get to the solution.