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DerbySoft solves for metasearch and digital marketing challenges.
Proven marketing solution for independent hoteliers with limited time and budget to invest in online advertising.
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OTA Insight Annual Parity Review 2019
The Complete Guide to CRM for Hospitality
Guide to Hotel Loyalty: How to successfully navigate the modern loyalty landscape
Three vendors have teamed up with protel to offer an amazing deal that will help boost hotels’ revenue. Market demand for enhanced connectivity within the fragmented hospitality industry has been on the rise recently. Much of the problem boils down to hoteliers’ dependence on data and other tech silos, and different departments’ historic reluctance to move away from them. But attitudes are changing. There have been some ambitious initiatives by some early PMS startups trying to meet this new demand. But to make a true market shift, one or more of the bigger and more established PMS technology vendors would need to move in this direction. With its powerful client base of 14,000 hotels, protel has listened to the market and is set to become the first well-established tech player to act. It will provide access to the hottest and most appreciated technology vendors in its Marketplace through “1-Click-Connect” – with no activation cost. For hotels of all sizes, the future recently arrived in the shape of a new data-sharing platform. This technological breakthrough will enable long-awaited collaboration between #HotelTechnology vendors. Freed from traditional vendor lock-in, the PMS will put the hotel back on the right track. Let’s explore the idea behind increasing hotel revenue, based on examples from three vendors who have joined forces to provide a greater experience to all protel PMS users (via the protel.io Hospitality Platform). With all three, users will enjoy zero integration costs (for a limited time only), with simplified “one-click-connect” technology that should allow any protel-powered hotel to up their game instantly. Data intelligence - why it matters If we let computers make decisions that affect our profitability, accurate data is of the highest importance. But with so many applications in the hotel running off their own data silos, who can say which set of data holds the most up-to-date and useful information? And how can it be intelligently accessed? By design, all tools on the protel Marketplace, irrespective of vendor brand, have constant access to the complete, live data-stream in the hotel (even across the hotel group). Beyond the data that they themselves enrich and pass back, each app can call on, process and react to hotel-wide events in real-time. Take OTA Insight, one of our featured vendors. Renowned for its commitment to data quality, the market-leading cloud-based data intelligence platform can now easily deliver actionable insights back to the hotelier. Launched last year, the versatile tool maximises every revenue decision with lightning-fast, actionable insights so you can confidently make better revenue decisions based on the most relevant, granular data from your PMS. Other vendors subscribing to this fresh data-stream, such as our featured vendor Oaky, the “upselling rockstars”, can fine-tune their system, knowing they are basing their predictive calculations on the best data available in the hotel at that very moment, not on what happened at close-of-day yesterday. Another example is top-rated revenue management software, Atomize, which considers real-time, dynamic data 24/7 from hotels’ data-streams and gives you optimal price suggestions per room type. For revenue boosters, timing is everything. And a big component of timing is personalisation. Personalisation at scale The better the data, the clearer the picture we can make of it. Manually running through thousands of guest profiles to see who repeat-books which rooms is not an ideal job for your trainee salespeople. These are tasks made for computers - and as the programs sift the records looking for patterns, they become very good at spotting nuggets of information that the human eye - even a well-trained one - would not readily see. Tools like Oaky, with their inbuilt segmentation options, allow the hotel to automate personalised upselling. By combining data around guest behaviour with data around the property, hotels are able to create hyper-personalised communication even for guests that have never stayed at their property before. This individualised upselling is very powerful, as the program crunches through swathes of data, deciding who gets what offer - and when the best time for that individual offer would be. On one side, the guest receives such a personalised notification that they really feel cared for. On the other, thousands of these messages are sent automatically, freeing up staff to care for their guests, all while extra revenue is being happily generated as if by magic. It’s a win-win. Data-driven revenue management Getting closer to the core of many hotel businesses, which still seem heavily focused on inventory sales, let’s look at how accurate and readily available data can help in setting optimised room rates. This powerful, automated strategy ensures that inventory is always offered at the best possible price in order to secure business. In the past, the revenue manager herself would track competitors’ pricing, scan historical records, monitor pick-up rates and try to match them up to the seasonal demand curve, all within her home-made, macro-enhanced Excel sheet of RevPAR possibilities. And there was plenty of room for error. How much valuable insight was being lost? Strategic revenue business intelligence OTA Insight’s next-generation business intelligence platform, Revenue Insight, helps unlock the potential of a hotel’s PMS data, delivering lightning-fast, actionable insights so that revenue managers can confidently make better business decisions at the click of a button on one simple dashboard. Put simply, with better, more accurate business intelligence, hoteliers are better placed to make better, more reliable business decisions that improve their bottom-line. How optimal pricing helps hotels Additionally, thanks to apps like Atomize, our featured vendor for automatic revenue management, hotels are continuously offered optimal rates, down per room type, set for 365 days into the future. Atomize considers historical and future reservation data, real-time pick-up pacing, cancellation data, competitor rates and more. With a mobile-first design, all data is processed with the latest technology, and the system outputs automatic pricing strategy on-the-fly. Hoteliers can review the data behind the price recommendations, including override price recommendations if needed, before they trust it to run on autopilot. As an added bonus, connected booking engines can be scanned for booking abandonment data, thus surfacing possible future demand. With the as-yet untapped possibilities within the protel.io Hospitality Platform - the key to providing all this accurate information to all connected services - sales cancellations from POS and other revenue channels could also soon benefit from similar insights, allowing a yielding mindset (and toolset) to spread to all areas of the business. Does context-sensitive selling boost revenue? An awareness of the old marketing “Four Ps” adage - Product, Place, Promotion and Price - facilitates many sales that might otherwise not happen. Offering an ice-cold beverage to a thirsty traveler who still has many hot, slow miles to go is a good way to sell a product at a premium. So now we just need to teach the machines to recognise thirst, hunger and other needs... Making hotel offers context-sensitive turbo-charges their immediate appeal, and done correctly, makes the offer seem almost irresistible. Again, access to a live-stream of intelligent data would be a good thing to take advantage of. Sorting through historical data, identifying up-ticks in consumption and the elements that led to this behaviour, is all very valuable insight. Not only do clever upselling apps like Oaky predict when best to push a personalised offer to a certain guest - or group or “lookalike audience” - but they can help enormously in the construction of these offers too. The ability to harness data-driven content and its delivery proves that machines are being trained well. It also does wonders for a hotel’s bottom-line. All of which brings us back to data-silos. Data-silos? No thank you Are we in the future yet? Well, we could be. It all depends on the unrestricted and economic to and fro of an endlessly enriching, real-time data-stream. Data belonging to the hotel, or the hotel brand, is harnessed and simultaneously shared within all the vendor technologies the hotel is operating on. Is it really? Well, actually, yes - this is what we at protel believe in, and what we have built with the protel.io Hospitality Platform. Traditionally, where every technology vendor used a proprietary system to deliver the hotel “their” solution, there were multiple vendors, with multiple systems, all variously needing multiple upgrades and expending multiple costs. To add insult to injury, the hotel could not really usefully access the data - multiple CSV exports at midnight won’t be far from most people’s minds. These independent and disconnected silos of data caused many problems, as the data from one part of the stack would be manually transferred to the next process that depended on it. When the export finally worked, we’d traipse on to the import. But wait - there were also “interfaces” which allowed, for a fee (small, or otherwise), certain vendors’ systems to talk to each other. Generally, the more the hotel paid, the more the systems talked. Perhaps the old “Four P’s” were in use here too... So what have we learned? The future of #HotelTechnology is definitely here, but the enabling platform itself is only as strong as the vendors within it. Vendors such as OTA Insight, Oaky and Atomize have stepped up, embracing the protel.io Hospitality Platform, and thus enabling a whole new section of hotels from across the board free access to shaping better revenue. The shared data, accessible for all, and running on a robust infrastructure, is the lifeblood not only of the hotel but also of the whole ecosystem of connected technologies. Together, the industry is finally moving towards a common goal: enabling any hotel to immediately benefit from cutting-edge technology, without risking non-compatibility or vendor lock-in issues. But don’t just take our word for it. Take protel up on its generous offer: zero integration costs to connect to any of these featured three vendors by clicking on the link below. We saved the best until last: all three of these solutions ship with the brand-new one-click-connect feature, and are already configured to work right out of the box. How? Simply log in to your protel system, navigate to the chosen vendor app in the Marketplace, and press the one-click-connect button. Enjoy your new world of boosted revenue opportunities immediately here! For more information, protel will organise a red ribbon ceremony at HITEC Minneapolis, on June 18 at 2:30pm at booth 2746.
What is conversion and why does it matter? Your conversion rate is typically defined as the percentage of how many bookings you received compared to the number of sessions to your website, and is a key metric often used to measure marketing efficiency. For booking engines using Google Analytics, the e-commerce tracking feature displays the number of bookings made and the amount of revenue generated, as well as the e-commerce conversion rate for both mobile and desktop. According to this traditional outlook a conversion is a booking. But at Bookassist we are challenging this simplistic metric. Certainly the goal for most hotel marketeers is to secure a booking and that’s where most conversion metrics end, at the point of booking. It’s a simple ‘lookers to bookers’ ratio. But what about cancellations? If you are only measuring your success in terms of bookings made, then you are masking the reality of what happens after the booking is made. Do you even know how many of your bookings go on to be cancelled? Misconceptions about conversion In our recent article on cancellations we found that the most successful hotels are those that take a combined view of conversions and cancellations and manage both carefully. High conversion rates might look good, but they may simply be delivering high cancellation rates unless a robust cancellation strategy has been implemented. Conversion Rate Optimisation (CRO) is a marketing strategy aimed at increasing the percentage of website visitors that convert into customers and is crucial to your hotel’s online success. Your CRO strategy needs to focus on; Conversion rates therefore need to be considered alongside cancellation rates to give a true picture of success and marketing effectiveness, i.e. we need to be looking at a Net Conversion Rate. You therefore need to start tracking cancellation rates, both direct and OTA, for a more realistic conversion metric for your distribution channels and an assessment of their true effectiveness. Net conversion rate Getting the right traffic to your website in the first place Converting those visits to bookings And making sure they stick around to actually end up staying at your hotel The real challenge for CRO is to tackle the full booking journey right through to the point of stay. The industry as a whole needs to switch mindset to reporting on net conversion rates and not just conversion from the point of view of bookings. And marketers also need to focus on their post booking strategy to minimise cancellations and increase net conversion rates. This is particularly important with the clear rise in online booking cancelation rates that we’ve been seeing throughout the industry in recent years. It is often quoted in the industry that the average website conversion rate for hotels is 2% or thereabouts. This 2% is based on the bookings made relative to the ‘total’ number of sessions to your website. Many hotel website visitors of course have no booking intent and are simply browsing the showcase aspect of your site which often includes spa facilities, restaurant, wedding and corporate pages. We’ve all done it. Limitations of website conversion metrics So your website conversion figure is a useful benchmark but it doesn’t really tell you a lot. For example, the 2.93% conversion rate shown in figure 1 tells us simply that the website in question is performing above the industry average, but it doesn’t give you any insight into the steps that you need to take in order to improve your direct booking capability. Figure 1: Sample Google Analytics data for a three-star Dublin city centre hotel. Because hotel websites are traditionally a cross between a showcase and an e-commerce site, a more relevant conversion metric is the booking engine conversion rate. Unlike your overall website conversion rate which is skewed and therefore lowered by your overall general-purpose traffic, your booking engine conversion rate focuses exclusively on the booking e-commerce aspect of your business and is likely a truer and more insightful measure of what your are trying to achieve. Your booking engine conversion rate and conversion goal funnel provide so much more additional information, especially where your booking engine employs Enhanced E-commerce with Google Analytics, as is available from Bookassist. Essential insights into your visitors’ paths to purchase tell us how many people enter the booking engine funnel, what room types or packages they are engaging with, where you’re losing bookers along the way, and at which stages we can improve their experience. In our opinion at Bookassist, hotels should focus on their booking engine conversion rate as a priority over the overall website conversion rate. Furthermore they should not settle for the industry average and should not be complacent around average figures. In terms of website conversion there is a lot that separates hotels who achieve figures much higher than the industry average and there are a number of factors that can cause this number to fluctuate wildly. Equally, good-performing hotels report website conversion rates lower than the industry average and that may be okay too, depending on their overall website goals and type of visitors that they want to attract. Hotels simply differ too much across the industry for industry averages to be relevant in many cases. Strong conversion rates are only possible when underpinned by a strong conversion strategy. This takes time, cost and attention but is absolutely worth the effort in terms of the resulting increase in revenue. Once a hotel’s booking conversion funnel has been optimised for an engaging and frictionless booking experience, the increase in booking and conversion opportunities will inevitably follow. Strong conversion strategy = strong conversion rate If your website and booking process are not optimised to convert then you are just wasting your money investing in activities to increase traffic to your website. As a result of this incorrect focus, many hotels are surprised when their increase in PPC or meta search advertising spend does not result in a significant bookings uplift. Sure, the more you throw at something the more likely some of it will stick, but if the conversion issues are not addressed before you invest in bringing more people to your site you’ll find that you may only manage to increase revenue slightly, and to a degree where it is not worth the additional spend and effort. You’d be better off spending your time and money first on making sure that your site, booking engine and booking engine setup are converting your current visitors before turning to visitor growth. Try taking that journey yourself to understand first-hand the would-be booker experience when booking a room online for your hotel. We’ve yet to come across anyone who enjoys the experience of a slow site, inaccurate information, broken links, or being forced to sift through volumes of information trying to find what they are looking for, all against a background of dubious data security. In many cases you’ve already lost your potential booking even before they check availability. By improving your website’s current conversion rate, you’ll also get better value out of your existing traffic as it’s more cost effective to generate increased revenue from your existing traffic than it is to drive more viewers to your site. Better still, if you improve your conversion rate before investing in paid online advertising, you’ll get a better return on investment on all future marketing efforts. A healthier conversion rate together with an increase in the number of visitors to your site will result in increased direct booking revenue.Consumer expectations are the same the world over - a booking experience that is speedy, seamless and secure. Friction will not be tolerated and hotels that continue to add friction to the booker’s journey will pay in terms of lower conversion and ultimately lower revenue. CRO before SEM By improving your website’s current conversion rate, you’ll also get better value out of your existing traffic as it’s more cost effective to generate increased revenue from your existing traffic than it is to drive more viewers to your site. Better still, if you improve your conversion rate before investing in paid online advertising, you’ll get a better return on investment on all future marketing efforts. A healthier conversion rate together with an increase in the number of visitors to your site will result in increased direct booking revenue. Frictionless booking experience Your website, booking engine and digital marketing all need to work in perfect harmony. In this holistic scenario, (a) your digital marketing effort generates traffic with high purchase intent that (b) goes on to visit your mobile-ready and fully-optimised landing page showing the best available rate and clear direct booking benefits, thereby (c) drawing that traffic into the booking engine which (d) has clarity of content and presentation that makes it simple for customers to complete their reservation with ease. Bookassist tightly integrates booking engine with website and digital marketing for a truly frictionless direct booking experience. This holistic approach is far more effective than using separate providers for each solution where that tight integration is much harder to achieve. There are a number of actions that you can take to increase both your overall website and booking engine conversion rate for desktop and for mobile. We’ll dive into the detail of successful conversion rate optimisation and share some really great success stories with you in our next article, so stay tuned! Conversion is a key measure of marketing success, but there are many misconceptions about conversion and hotels need to focus on the metrics that matter. A strong conversion strategy is needed to affect strong conversion rates. Hotels that adopt a holistic approach to remove booking friction will be rewarded in higher conversion and increased direct booking revenue. How to increase your conversion rates There are a number of actions that you can take to increase both your overall website and booking engine conversion rate for desktop and for mobile. We’ll dive into the detail of successful conversion rate optimisation and share some really great success stories with you in our next article, so stay tuned! Bottom Line Conversion is a key measure of marketing success, but there are many misconceptions about conversion and hotels need to focus on the metrics that matter. A strong conversion strategy is needed to affect strong conversion rates. Hotels that adopt a holistic approach to remove booking friction will be rewarded in higher conversion and increased direct booking revenue.
* Thanks to Koddi we are able to top up campaigns with additional budgets available and generate more visibility based on the needs * Koddi also provides a clear view of where investments are going and the ROI
Director of eCommerce Strategy & Performance from Branded
Koddi's software is very dynamic and enables fast and efficient analysis offering the ability to make quick decisions to improve efficiency. Koddi are always listening to feedback and developing their interface to the needs of their clients. Koddi's software enables us to participate in markets that we would be unable to without them.
Sr. Manager Distribution from Branded in San Jose (United States)
Koddi provided us with a great experience using their bid management & reporting solutions.
Digital Marketing Specialist from Other
I really have no complaints. The only helpful thing on our end would be an automated notice when funds are running low so we can ensure we replenish in time.
Director of Marketing from City Center
-Documentation for using and troubleshooting the product would be beneficial for both provider and supplier. This would give providers more info when trying to use the project and limit the number of questions by provider and limit time spent by supplier to help troubleshoot.
Manager from Other
- Only available in metasearch and could scale beyond that marketing channel - Lean operation means some initiatives that go outside of scope of work may be deferred
Director Digital Acquisition from Branded in San Jose (United States)