5 Ways to Grow Your Revenue in 2015

September 30, 2014 admin

NAVIS is now bi-coastal! We opened our Eastern Regional Office in Orlando, FL with a gala on September 25th.
Now, we’re ready to grow even more leisure revenue for our expanding list of clients.
And speaking of revenue growth–read on for how to plan for a prosperous 2015.

Has your revenue strategy kept pace with leisure industry changes?

Your answer will be a critical component of your planning for 2015. Now is the perfect time to maximize revenue during the economic uptick and lay the foundation for future growth. With planning season in full swing, consider…

5 Ways to Grow Your Revenue in 2015

1. Look under every rock to generate maximum revenue.

Are you suffering from the success syndrome? When business is good, it’s tempting to get a little lax. RevPAR’s predicted to be up next year, so why push? A more profitable question: if business is good, why not make it great?

2. Reach beyond RevPAR to measure profitability.

Yes, it’s a useful number, but RevPAR reflects gross sales, not net profitability. If you booked that $100 room through an OTA, have you accounted for the commission? When you assess group channel revenue, do you include ancillary spending, such as food and beverage? When your analysis goes deeper than room rates, you make more cost-effective decisions.

 

3. Embrace the rise of mobile—pay attention to your voice channel like never before.

More guests book by mobile phone and the trend shows no signs of slowing down. What are you doing to optimize your voice channel? Get the basics covered:

• Answer the phones. Make sure you’re staffed appropriately to pick up calls. Do your busy front desk personnel have to split their attention between overflow calls and the guests standing in line? NAVIS RezForce and NAVIS RezForce LUX automatically route overflow and after-hours calls to our professional lodging industry reservation booking center.

• Answer the phones after hours. Did you know that if you answer calls 24/7, you can capture up to 23.5% more reservation opportunities?

NAVIS RezCast captures all of your reservation calls and offers detailed tracking so you know which marketing campaigns succeed.

• Make sure your reservation staff is well trained in sales skills. Sales-trained reservation agents avoid jumping straight to discount offers to close the deal. With NAVIS Narrowcast and a dedicated NAVIS Client Advocate, your team learns how to sell based on value. If you’re booking the typical 3 out of 10 inbound calls, you can expect an increase to 4 bookings, 5 bookings, or higher.

4. Turn every guest who walks through the door into your guest.

She may have booked through a third-party channel, but you have the chance to secure her direct bookings from now on. Capture her email, note her preferences, and offer an incentive to book directly. If you look at OTAs as acquisition channels—they book guests the first time, you book them directly ever after—that commission won’t look so expensive.

5. Capture guest information with every voice inquiry.

The concept of guest loyalty has flipped—now you must be loyal to them. A one-on-one relationship with current and prospective visitors is the future of guest service, period.

E-blasting is no longer OK!

Build a “household persona” for each guest with detailed data captured by NAVIS Narrowcast. Then use NAVIS Reach real-time CRM marketing system to send personalized messages when guests and prospects are most likely to read and respond. NAVIS customized Data Mining solutions refine communications even further.

 

Want to connect to optimize your voice channel? Give me a call or catch us at the VRMA Annual Conference, October 26-29 in San Diego, Booth #202/204/301/303. And stay tuned next month for some new product enhancements for more profitable vacation rental management.

Meanwhile, plan well and prosper!

Michelle Marquis, NAVIS VP Marketing and Strategic Initiatives

 

 

The post 5 Ways to Grow Your Revenue in 2015 appeared first on Navis.

 

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