Want to Drive VR Demand? Answer 4 Essential Questions to Harvest More Leads

October 24, 2014 admin

An extensive survey by JD Power finds that guests who make reservations over the phone are more engaged and have a more positive experience than those who book on any other channel. Michelle Marquis, NAVIS VP, Marketing & Strategic Initiatives, shared her experience on how to make the most from the direct channel at Cornell Hospitality Research Summit, October 12-14 in Ithaca, NY. Listing channels have also emerged as rich sources of new guests. Read below to learn about a new tool to harvest potential customers.

Listing channels are becoming more and more important as a place to step up your revenue game.

Three years ago, listing channels accounted for only 6% of total revenue for vacation rental companies, as reported by NAVIS Narrowcast sales and reservation system clients. Now, those channels account for 23% of total revenue.

At the same time, VRs currently convert only 6% of the leads they receive from these channels on average. Let’s do the math—at this rate, for every 100 potential guests, 94 of them are left unbooked and represent untapped prospects and millions in untapped revenue!

You’re already paying the subscription costs to list your properties, but how do you know if you’re making the most of these listing channels? If you answer “no” to any of the following questions, you’re leaving untapped revenue potential on the table:

1.    Do you believe that your investment in listing sites produces a proportionate gain in revenue?
2.    Are you 100% certain that you effectively manage every lead and listing inquiry?
3.    Are you collecting guest data on all listing site inquiries? Even when they don’t book?
4.    If so, do you transform the data you capture from listing channels into revenue-generating marketing campaigns?
The good news is that there’s a new tool that just hit the market to help you drive demand from listing channels.
It’s called NAVIS Listing Lead Management (LLM) system. It integrates HomeAway and VRBO.com bookings and inquiries with the NAVIS Narrowcast solution. Here’s how it works:

  • Consolidates and cleans up all lead information for each guest, even across multiple lead channels. If a potential guest searches your listings on HomeAway and VRBO, you’ll receive captured data from all sites rolled up to that person’s profile and/or household.
  • Responds automatically to a potential guest with an intelligent, customizable email message. Examples include a Book Now option, a list of similar properties if the person’s choice is unavailable, recognizing if they’re a repeat guest and more.
  • Automatically queues leads based on the value of the booking or other variables you choose. For example, you can program the system to automatically send all leads worth more than $5,000 to your top reservation agent(s).
  • For NAVIS CRM Marketing clients, the new solution incorporates prospects’ data into the CRM database for customized lifecycle marketing campaigns.

The icing on the cake—HomeAway just struck an agreement with Expedia to add 115,000 VRs into Expedia’s inventory. Even more eyeballs to peruse your vacation rental listings!

Now it’s up to you: the technology has arrived to harvest more bookings from the prospects you’ve already paid to capture!

Learn more at NAVIS Booths #202, 204, 301 and 303 at the Vacation Rental Managers Association 2014 Annual Conference, October 26-29 in sunny San Diego.

And tune in next month for a revenue check–are your distribution streams in alignment?

Hope to see you in San Diego,

Michelle Marquis, NAVIS VP Marketing and Strategic Initiatives

The post Want to Drive VR Demand? Answer 4 Essential Questions to Harvest More Leads appeared first on Navis.

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