What is hotel metasearch management software?
Effective metasearch and digital marketing campaigns help hoteliers drive revenue, attract new customers, and achieve greater business goals. The tools and services provided by a metasearch management software enable travel brands to maximize their digital reach. This in turn, allows them to grow their business and increase their profitability.
How can metasearch management software improve profitability and efficiency?
- It can help you attract new customers: Metasearch users are open to new experiences and are interested in finding a hotel that best meets their needs. They are typically open to trying new brands, which means that the majority of bookings that occur through metasearch are net new customers. Metasearch drives incremental traffic.
- Strong metasearch advertising is part of a healthy booking mix: Once a user finds your hotel listing, you, the advertiser, own the customer experience. This gives you the opportunity to create a meaningful relationship and drive direct bookings, rather than relying on a reseller or travel agency.
- Improves marketing efficiency: Metasearch is one of the most efficient digital acquisition channels. A well managed metasearch campaign will improve the efficiency of your digital marketing investment, driving higher impact and a reliable return on ad spend.
What are the most important features of metasearch management software?
- Robust Reporting: Metasearch campaigns can have hundreds of thousands of data points and complex bidding layers. You’ll want the ability to access reporting that is robust, customizable, and in alignment with your internal numbers and business goals.
- Bid Management: Automated bidding features allow you to apply the best bidding model to fit your company’s goals, constraints, and data. This gives you the freedom to choose exactly how to bid for your campaigns and implement custom algorithms to maximize results.
- Custom Labels: Labeling or tagging features allow campaign managers to set both automated and one-off grouping of properties based on any custom value. If you’re managing metasearch for hundreds or even hundreds of thousands of properties, labels are a necessary feature for organizing your campaigns and identifying trends.
- Property Content Management: Reporting that is informed by rich property-level data, enables you to add geographic context to broad reports and bring in extremely granular hotel attributes for a more detailed analysis.
- Intelligent Targeting: Audience targeting involves setting bids for specific groups of customers. The ability to segment your metasearch campaigns by audience is an important feature for reaching your target customers with your ads.
What makes great metasearch management software?
Critical to the success of your metasearch campaigns is knowing how much to spend (based on your goals), where to spend it, while also being able to make changes and adapt as market dynamics change. Great hotel metasearch management software will help you increase direct bookings, boost ROAS (return on ad spend) and drive incremental revenue for your hotel properties.To learn more about how to distinguish between metasearch management software providers download the 2019 Guide to Hotel Metasearch Software
What is the typical pricing for metasearch management software?
Most technology providers will charge a percentage of advertising spend. This can range from 4-8% (or lower) based on the volume of spend that flows through a platform and the amount of services that a customer requires.
How long does it usually take for a hotel to implement new metasearch management software?
Metasearch bid management and connectivity, while separate services, are dependent on one another. In your search for a bid management provider, you’ll want to mitigate risk by not requiring a big change to your connectivity.
Although every implementation situation is unique, you can generally expect a full implementation to take anywhere from 2 to 4 weeks from start to launch. Here is an example of what steps may be involved in the process: (1) Share hotel info with the technology vendor (2) Determine how internal analytics will be provided Work with metasearch publishers to launch campaigns (3) Technology vendor completes backend build (4) Grant technology vendor access to click/cost reporting. Providing data to the technology vendor in a consistent manner (both in time and format) will help facilitate a smooth implementation.