What is the success metric for Airbnb's booking experience?

Introduction

Determining the success metric for Airbnb's booking experience is crucial for evaluating the platform's effectiveness and driving strategic decisions. To approach this product success metrics problem effectively, I will follow a simple product success metric framework. I'll cover core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Airbnb's booking experience is the core user journey that enables guests to find and reserve accommodations. It encompasses search functionality, property listings, pricing, availability calendars, and the actual booking process.

Key stakeholders include:

1. Guests: Seeking convenient, affordable, and unique accommodations
2. Hosts: Looking to monetize their properties and attract reliable guests
3. Airbnb: Aiming to facilitate transactions and grow its user base
4. Local communities: Impacted by tourism and short-term rentals

The user flow typically involves:

1. Search: Users input location, dates, and guest count
2. Browse: Guests explore listings, photos, and reviews
3. Select: Users choose a property and review details
4. Book: Guests complete the reservation and payment process

This experience is central to Airbnb's peer-to-peer accommodation marketplace strategy, differentiating it from traditional hotels. Compared to competitors like Booking.com or VRBO, Airbnb focuses more on unique, local experiences and a sense of community.

In terms of product lifecycle, the booking experience is in the maturity stage. Airbnb continually refines and optimizes this core feature to maintain its market position and adapt to changing user needs.