Francois (9:27)
Yeah. And so the concept, guys, it's really simple. It's at the end of the day, you should have zero messages. Now, I'm sure most of you are going to laugh to the statement and say, that's impossible. Francois, I get messages every single day from guests. How am I supposed to do this? And that's the concept of to do follow up or resolve. So just moving guests through different buckets based on what you actually have to do that day versus things you'll do later. We've launched a new model for drafting responses and we're going to be launching Enzo Autopilot very soon. So anyone who signs up right now actually gets it for free for the time being. And last but not least, AI sentiment analysis, that's something we've always kind of been keen on, is how can you be proactive in your guest conversations to really look at the sentiment of the conversation before it's too late? Multiple views so that you can see exactly what you need to see depends on every property management business. So basically building a framework for everything to be the same across every property manager, regardless of the PMS that you use, configurable to meet your unique property management needs. And with an AI unified inbox, you can streamline and automate up to 80% of your guest communication. But I always get the same question, which is answering with AI is losing the personal touch. And my take to that is answering your guest messages is not the human touch that they're looking for. They're looking for a response to their question. The human touch is the personalization that you can drive throughout the guest experience. And I'll share with you guys a few examples. So a famous quote from the Ritz Carlton, and mind you, the Ritz Carlton has a $2,000 budget per employee to resolve any issue at any point without having to go through supervisor approval. I'm sure you guys don't have that same budget approval, although maybe if you're in the luxury settings, maybe you do. But the point is anticipatory service is the essence of hospitality, where the genuine desire to understand, fulfill a guest's needs precedes even their own awareness of those needs. So it's about being proactive and it's about kind of anticipating what that guest wants at the right time, for the right price and for the right person. So AI can handle the mundane and can flag when human intervention is required. Let's look at a few cases where human intervention can be required. So we built this boarding pass, we call it a boarding pass. Just Like a boarding pass for your flight, but a boarding pass for your vacation rental, fully configurable and goes through the entire flow from check in to checkout and upsells and so on. And one of the first things that I always get from oops, I'm going to skip a few slides here from, from guests or from sorry property managers is well, I can't offer these upsells because I can't operationalize them. I need to know when my cleaners are ready, I need to know when my staff is ready and so on. And one of the first things we tell you is think back at airlines, airlines when they get an early or so there's no early check ins in airlines when you get a upgrade or request. Although I guess you know what, there kind of is an early check in if you think about it, because there's priority security and all these different items to it. Well, when you pay your ticket, you might be rich enough to pay for the business class ticket and call it a day. Or if you're like me, you accumulate all these little points called E upgrade points and eventually you get to claim a seat in business class where you have to pay an extra 200 and you have to wait on the wait list. Now what happens is maybe day of the flight I decide, you know what, I spent way too much money on this trip. I probably don't need this little upgrade. Let me cancel it. Well, guess what? You can't cancel it. You've already asked for the upgrade. You've given your credit card, you've approved if it's available that you are going to take this additional or this new seat and the airline now decides whether or not they can offer it. It's the same concept for early check ins and late checkouts. Yes, I understand you might not be able to offer it day of because you might have overlapping cleanings and you might not be able to offer it at the same time. But by getting the credit card of the guest ahead of time and by receiving verbal confirmation via a guest app or any other format that they're requesting for an early check in even months in advance, you do not need to approve it until day of, whether that's automatically or manually by pressing a button. And what that does is that increases the conversion rate of how much revenue you're generating on these early check ins. And once you give it to your cleaning teams to basically say when you are done, press approve. If it's ready, guests will purchase and guests will get charged and that's extra money for your bottom line. Now, I know it's 50 bucks, I know it's $20 here, $50 here. It doesn't feel like a lot of money. But one metric that a lot of property managers tend to forget is their gross margins. There's a big difference. And I see this all the time with the, I'm going to be a bit mean here, but the Dubai style property managers, the ones who are like, I just made $5 million in three months for my Airbnb portfolio and it's like, that's revenue. You take a commission from that. You've actually only made $300,000 from that, which is already impressive, by the way. But that's the kind of revenue impact you're having. Grabbing $50 extra on every single reservation can represent for certain property managers an increase of 30 to 40% in gross margins. Because if you think about it from what you are netting, at the end of the day, that money goes straight in your pocket and there's, it's 100% gross margins. I mean, it's a service you're offering early check in or tip the staff, whatever that might be. But you get to keep the revenue. So start thinking about upsells. If you're drying up a bit on, on bookings or things aren't looking as good with your adrs, you, this is a great chance to start unlocking these new revenue streams that will increase your gross margin profile. I like to talk about the operational ones specifically, but there's also experiential ones. So I'll just go back here for a second. Things like early check in, late checkout, Midstate cleaning, and we had check in Hero here, which was a product from Truvy, but really any sort of insurance, damage, waivers and so on, experiential upsells. So local attractions, local experiences, is there anything that you can offer that you are uniquely positioned to upsell? And we've got a whole calculator on our website, by the way, so that you guys can play around to see, okay, if I converted this much in this market and what's my ADR and how many guests do I get? Because really, it's just a math exercise. You put it on a spreadsheet and I guarantee you that with like 50 listings, if you don't make at least three, four grand a month, you're doing something wrong. So there's a lot of money to be made on upsells. And if you haven't seen the new update from Airbnb that just came out today, which I'm sure is going to be big hot press for everyone to start sharing. It's all about upsells, it's all about experiences. They are tapping into this revenue for you. So it might be worth starting to think about these additional experiences that you could offer your guests. The big update just got released this morning. It's May 13th, so have a look at it. It's, I'm sure Mark will do a post about it. I don't want to steal the thunder on this one, but. So we've just launched a product as well for this a couple months ago called Enzo Experiences. You name a place, I'll tell you how many experiences we have. But over 300,000 pre built experiences directly built in your boarding pass. We split the commission 50. 50. 50% because you're selling it, 50% because I built it. But it's anywhere between 5 to 12% if I'm not mistaken. And you know, it could be anything from like a Vatican museum tour to, you know, we've, we've got some really unique experiences that people are offering and hopefully we'll get involved with Airbnb as one of their partners to start pulling some of that inventory. Inventory as well. Transportation. I've got a great example here. If you, if you think back at some of the earlier slides, I know I skipped the AI guidebooks one but about collecting data and we do upgrades and you know, we do check in and all of these different systems as part of your digital guest experience. One of the key parts that we noticed when we were collecting all of this guest data, and I'll give the example, is one of the most requested experiential upsells, I'll call them, was transportation to and from the airport. And I wasn't sure about this because I'd never booked anything like this. So I booked a trip to, to Aruba at one point for a little vacation and I decided to book a, a taxi to pick me up and so on ahead of time. And I got to say it is night and day, the experience and the cost is exactly the same as you waiting for 15 minutes for your Uber at the airport. It's exactly the same. I mean there's no difference. You pre booked it and that's it. And it just makes the getting out of the airport much smoother. Now that is a luxury not, not everyone can have. Some people must take public transportation. That's totally fine. But I will give you an example once again about collecting data, understanding your guests, which is one of the five pillars. If I'm not mistaken or one of the six pillars that Mark shared in the previous webinar that we did together. So knowing your guests, if you have a property in Reykjavik, Iceland, and you know that this guest is an American guest, well I guarantee you they didn't train to Iceland. They planed, they took a plane. And by taking a plane they land in the morning. American Airlines, United Airlines, Delta Airlines, Air Canada, all of those flights land in the morning because they're all layover flights for other destinations in Europe. So what does that mean? Well, your check INS at 4, your guests arrived at 9. They want quick transportation, they're jet lagged, they might want luggage storage, they might want to be able to check in early. And if you start understanding this data and you start knowing who is who and what is what and so on, that early check in is no longer a 50 early check in, it's an 85 early check in and that guest will pay it. Now imagine it is a business traveler. I can guarantee you that early check in and that airport transport transportation option is expensed so you can sell it now for 110 because they don't care. They're not the ones paying for it. It's part of their budgets. So again, understanding your guests allows you to sell these different incremental products. And it's not nickel and diming your guests, it's providing services at the right price and for the right person. And that margin improvement is beyond impressive. I think our highest revenue per listing Customer today generates $297 per listing per month in additional revenue. I mean that's, you know, an extra night. You could see it that way. But again you don't take 20 of that, you keep 100 of it. So it's an extra direct booking night if you will, or it's your entire tech stack, your PMS and more that is covered through that. So again there's a lot of money to be made through this. And the tie of all of these different upsells and sorry for the back and forth here is guidebooks and guidebooks. There's plenty of amazing companies out there. You know, TouchStay builds really nice guidebooks with maps and everything. And I say they're experts at that. We've built guidebooks as well, but we've actually used the concept of Google Places and what you call it, well chatgpt I guess, but a different model to pre build a lot of these guidebooks and then retie them back to those upsells. So instead of just having A static. Here's the best restaurant. Let's tie it back to a reservation link. If you have the best bar hopping guidebook and you have a partnership with that bar hop, let's tie it back to their sort of group events booking channel and so on. So we're trying to tie the content that we're sharing with our guests with the opportunities that we can sell them in addition to the room rental or the booking itself. So here's a cool customer. They made over a quarter million dollars in upsells in six months. This is Damian Glantz. They now net about $120,000 per month in upsells. Now they do have 500, 600 units. So it's quite a bit. And I had another quote. I think it disappeared. It did. So I'll just point it out. His name was Jordan from Ketoco, French company. And you know, I'm French, so I can say this, but French people, they're not so much usually about making more money, they're usually about saving money. So when they buy software, they want the best offer, the cheapest deal and the one that will save them money, not necessarily the one that makes the money. Jordan made the leap of faith in his first month. He's making €1500 per month. So that covers the cost of Enzo, but it also adds more revenue to the bottom line. So again, treat this just like airlines do. I'm not saying treat it like Ryanair, where they sell you the, the seat belt and the, the parachute and the extra engine and you pay for the fuel on the flight and so on. But there's an intermediary between Air France business class and Ryanair's cheapest 20 ticket. Apparently it's not. Malta Air booked a flight with Malta and that is beyond worse than Ryanair. They literally sell you everything, but that's a different story. So try to be in that middle ground where you offer services at the right price for the right people. And again, that comes with collecting guest data. So it's not just about first name, last name and emails. It's also travel reasons, estimated time of arrival, you know, what, what, what reason are they here for? Are they here for a bachelor party? Because if they're here for a bachelor party, selling them a, you know, ticket of family event at the, at the Disney World package is not going to work. But maybe that's better for the family guests that are staying at your property. So understanding your guests is, you know, one way of being able to remarket to them. But it's Also one way of being able to make their experience better throughout. I do Share on LinkedIn Quite a few of these stories from time to time. We've generated over the past two months now we've generated about two and a half, $3 million. But last month we had generated our first million dollar month. We've done over $10 million for our customers in upsells and we should be hitting, I said $50 million to my team. They put $30 million on this slide. So you can see that they're being a bit more conservative than me. I genuinely think we can hit $50 million by the end of the year because of you guys, because of you, the property managers who are realizing that, that you know what, there is money to be made beyond the rental once I know who my guests are. So this is something Mark speaks about, knowing your guests. And it plays not just in the world of direct bookings, it plays in the world of your existing bookings to make that experience better. So do follow me on, on LinkedIn, Twitter or wherever if you want to hear some of these success stories. I kept it really short, Mark, so I, I'm sure I'll have quite a few questions, but I'm all about buying back your time, if anything. Amazing.
