Written by Rob Binns Updated on August 3, 2016 On this page Using CRM like Airbnb Making the Connection How to Be the Next Unicorn Expand Airbnb is one of the most popular platforms when it comes to finding affordable vacation rentals, apartments and homes to rent. But what CRM software do they use, and why does it matter?Airbnb has more than two million properties available to rent. They are undoubtedly one of the fastest-growing property platforms that serve millions of people around the world, and help tourists and holiday-goers to find the perfect accommodation option when they travel.They represent more than 34,000 cities in more than 190 countries around the world, which include 1,400 castles, and with a rough valuation of $30 billion in 2016, businesses both new and old can benefit from using Airbnb’s business approach as inspiration.Not only is their success impressive, but the ways in which they handle their business and their customers are also admirable. Like many other well-known brands around the world, Airbnb believes in a shared economy – making use of modern technology to effectively share and distribute their services. The company started back in 2008 and have definitely followed a recipe to success. Using CRM like AirbnbSo, what does their sharing economy mean for your business? It’s all in the detail. Although it’s no secret that companies rely heavily on CRM systems, much of the data contained herein is often restricted due to privacy settings, whether intentional or not.This also means that much of your critical relationship data is sitting tightly hidden – unavailable to be used as new business potential.In the case of the Airbnb business model, they rely on their CRM software for almost every action they complete. When a customer visits Airbnb’s website and completes an enquiry, the information gets stored in its CRM system.When a room is booked, that data needs to be effectively captured, stored and made available to the relevant people and departments.Not to mention all the financial transactions and even refunds and trip amendments that need to be processed on an hourly basis. The list goes on, and it’s all cleverly handled by their CRM software. Eligible for CRM Software Quotes? Click your state below to find out AK AL AR AZ CA CO CT DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY But Airbnb doesn’t stop there; they use their CRM applications to send out, keep track and then measure the performance of their attractive email campaigns – just so they can tweak their processes and improve them time and time again. How do they keep this all together? Making the ConnectionThe way Airbnb uses its CRM software is just one example of how effective it can be for your business. It doesn’t have to resemble another company’s system exactly – its effectiveness can come through in how scalable it is to your specific needs.So, how exactly can you make a CRM system work for you? Here are a few benefits you should consider:It will grow your business. Shared data can be distributed within your company and create new leads for you and your sales team.It will increase your revenue. Leverage your existing relationships to gain a competitive edge and grow your business effectively.It eliminates missed opportunities. No more hidden data; use all the information available to you to identify business opportunities.It speeds up your sales cycle. All customer activities will be in one convenient view, speeding up most of your business and sales processes.It reduces your operating costs. Spend time and money on existing opportunities, instead of having to find new leads. How to Be the Next UnicornWhen it comes to Airbnb, customer relationships are what it’s all about. It’s their main asset and also what drives their continuous success. This is an excellent business model for you to use and customize to suit your needs.Sharing information is not always the first thing that comes to the mind of business owners and sales managers, but it should be one of the main focus points. It will improve communication, support team collaboration, and most of all, help boost your productivity and sales. So, are you ready to take your business to the next level? Written by: Rob Binns Services Expert Rob writes mainly about the payments industry, but also brings to the table industry-specific knowledge of CRM software, business loans, fulfilment, and invoice finance. When not exasperating his editor with bad puns, he can be found relaxing in a sunny (socially-distanced) corner, with a beer and a battered copy of Dostoevsky.