Push your Hotel Revenue using Business Insights
Your hotel data plays a pivotal role in the hotel business development plan. The budget and resource allocation for attaining short-term goals are all decided based on how the hotel is performing in a quarterly period. For long-term goals, the yearly reports are accessible that allow you to plan for the coming years.
It is essential for Hotels to not just provide top-notch hospitality but also create a relevant digital space to interact, engage, and update their prospects and customers. Here are a few tips to help you make the right decisions along the way.
1. Know your Target Audience on Social Media
First things first, before heading on with the right ways to use digital marketing tactics to your benefit, you must know about your market. Now, you would say that it’s obvious for a hotel marketer like you to know their market. But, do you track it in real-time? If yes, then probably you are already using a digital marketing platform. If no, start today and you’ll see the difference in your Revenue Bottom-line within just 3-6 months.
There are various platforms like Guestware, Duetto, and Google Analytics that help you assess real-time market insights to study the growth and user behavior of visitors landing on your website which can be very useful in creating customized plans for your prospects.
2. Eeny meeny miny moe, Choose the right channel yo!
Compare and evaluate the revenue figures from various channels and choose whatever fits the bill for your hotel! And get rid of the odd channel out. This way you can decide or allocate rooms to various booking sources and increase your ROI respectively from the hotel revenue report. Well, you get the idea!
3. Figure out your peak season & make the most out of it
Determine the best performing months for your business, and optimize revenues during your peak season to mint the EXTRA money. You can leverage on the high-demand duration’s like festivals or holiday seasons to lift your revenues.
4. Get more bang for the buck with a full-proof promotional plan
Have you not been promoting yet? No wonder you’re still struggling to make money. Well, you can start Now! Hire a Digital Marketing Agency that can help you chalk out a promotional plan, study the guest’s behavior, and cherry-pick the most rewarding promotional tactics.
5. Put an ideal room together
Identify the most preferred amenities by your target audience while they book a room, upgrade more rooms that fit in with their requirements. Give them what they are looking for and reap what you seek.
6. Cut the cancellations
Use Digital Marketing tools for Hotels to review the cancellations and their underlying causes. Work on your services and scale down the number of cancellations. Constant service improvement would go a long way in instilling confidence amongst your prospects.
You can turn the tables for your hotel by following the above steps. Having said that, studying numbers and making meaning out of them is not a piece of cake. Our experts at AdEngage have a way with numbers, and they can make it easier for you with their strategic insights coupled with years of experience. So, set on your digital marketing journey today.
Happy marketing!
Guest Writer: Nishita Suri
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