Should I use Tags or Groups?

You can get the same result using either tags or groups. When you use either might depend on your pricing strategy, inventory size, market, or other factors. Tags can be removed or added to listings quickly in the tapechart and can provide visible flags in the tape chart to help you make pricing decisions. Whereas groups might be considered more of a long-term collection of listings that will tend to have more similar pricing in place. 

Examples of using Tags or Groups to differentiate inventory for reasons like these:

• Location: Neighborhood, Downtown, Canal, Intracostal Waterway, Golf
• Event: Listings Close to a Festival
• Owner Usage: Owner books time during peak season
• Owner Preference: Owner prefers occupancy over ADR or vice-versa
• Condo vs Single Family 

Use Case for Tags

Because you can filter in the tape chart for multiple tags, here's an example where this makes it fast and easy: 

I want to do an email campaign for expiring inventory providing a discount. To update the pricing to match your campaign, you can quickly filter your listings for tags Hot Tub and Ski-In Ski-Out, and create a time-based discount for the date range applicable. Now your "Book Now for Top Ski Condos" campaign has appropriate pricing to encourge occupancy.

Use Case for Groups

Because you can use specific factors to create groups, you can manage a selected portion of your inventory with one setting update: 

I have many listings in an HOA that has variable min stay rules depending on the time of year. To update the pricing to match your HOA rules, you can create a group for all the listings in the HOA with Name = HOA XXX, and set the min night rule for specific date ranges for the next two years. Now unless there are changes to the HOA guidelines, you know all listings in the group will be adhearing to the rules.

Here's the breakdown and link to full training and information on both features:

Groups

With Groups, you can add any listings to a collection, and then make adjustments to the group easily, including tags, min and max stay rules, pricing changes, and more. Groups of listings might be used for a long-term strategy, based on criteria such as amenities, location or HOA.

The biggest advantage of Groups is that you can copy settings instantly and all future listings added will have the same group level overrides applied automatically. 

Ideas about how you might use Groups include these, but there's no limit to how to benefit from this tool:

• Listings that have similar regulations or HOA rules in place
• Listings that are similar in proximity to local high-interest attractions
• Listings that are in a desirable location, such as oceanfront, or ski-in ski-out 
• Listings that have key amenities such as private pool, hot tub or include a golf cart

Learn more about Groups here.

Tags

With tags, you can add a specification to any listing, and once set up you can make pricing adjustments to dates based on the specifics of the listings. This includes updating minimum stays, min and max rates, and discounts or premiums. You can also quickly and easily change tags as changes happen to the property or other factors. 

Here are some ideas for using tags:

• New Owner: this will allow you to easily see inventory that is new, and you might be more aggressive in pricing than Art will recommend. This is often a strategy for new listings so that you can get the first guests booked and get reviews. 
• Call out amenities that might be priced differently, or need changes based on seasonality:
  • Pet Friendly
  • Hot Tub
  • Private Pool
  • Ski-In Ski-Out
  • Newly Remodeled

Learn more about Tags here.