An Exclusive Conversation with Pau Ferret—CRO—on the Dynamic Duo of Revenue and Marketing in the Hospitality Sector, Also Published in TecnoHotel.
If we talk about direct sales, Revenue and/or Marketing?
For hoteliers, mastering Revenue Management extends beyond mere pricing strategies. It’s an art of offering unparalleled value: pinpointing the optimal price, targeting the right customer, and utilizing the most effective channel, predominantly our website.
Concurrently, Marketing isn’t merely promotional; it’s a meticulously crafted strategy to elevate conversion through various on-site initiatives.
The undeniable truth? Revenue and Marketing are inseparable allies in steering direct sales and, by extension, elevating profitability in the hotel industry.
What role does price play in direct sales?
In today’s digitized age, travelers often navigate their booking journey with a keen sensitivity towards price. As their journey unfolds, price morphs from a consideration to a pivotal conversion factor, largely due to online channels spotlighting best-rate guarantees and price comparisons across platforms.
Travelers, lured into a price-focused mindset, often overlook the myriad of advantages that direct booking through a hotel’s website can unveil: from exclusive rooms and welcoming gifts to added amenities like pool towels. Thus, optimizing direct sales is not merely a game of competitive pricing but a strategy of showcasing the enriched value and exclusive benefits accessible through direct booking.
What kind of Marketing actions can a hotel implement on its website to make the traveler perceive the value of direct booking beyond the price?
Despite the challenge of drawing travelers to our website, the true test lies in converting their interest into a booking. Hoteliers can employ a diverse arsenal of marketing strategies to enhance the perceived value of direct booking. This might include real-time alerts about limited room availability, inclusive breakfast offers, and potential room upgrades to enrich their stay.
Let’s talk about these actions more concretely. How do we ensure that a traveler completes the booking cycle on the hotel’s website?
At 123compare.me, we’ve honed our focus on two pivotal action categories aimed at bolstering direct sales:
- Engagement Alerts: Including price comparisons and urgency or scarcity-based alerts, designed to transparently communicate the multifaceted benefits of booking directly through the hotel’s website.
- Recovery Actions: Aimed at facilitating a seamless booking continuation for travelers who’ve abandoned their journey midway, ensuring they can resume their purchase under identical conditions.
How are these alerts generated?
How do we craft these meticulously targeted alerts? The secret lies in technology.
123compare.me, utilizing a script, seamlessly integrates into the booking engine, devoid of third-party dependencies. Personalized alerts, tailored to the traveler and room type, are curated with the integral input of the Revenue department. After all, while direct sales can’t thrive without Revenue, optimizing Revenue is unattainable without robust Marketing.
Will you be at Tecnohotel On Tour?
Mark your calendars for September 21st, as we’re thrilled to be partaking in Tecnohotel On Tour in Mallorca. Esteemed as a cornerstone event for hospitality professionals, it’s an opportunity we wouldn’t dream of missing.
