The era we are in!
You can also do the same, for that you would have to understand 7 pillars of foundation which we at RevBaba believe are the basics to the foundation of your growth, they are:
Pillar #1 – Online Presence: It is all about having your property on the internet so that your customers can reach you easily. This includes:
∙ Having your Hotels website: Your own website is a place where you can showcase any content you like and that you think is necessary to drive in more customers. Here you can run your own tailor-made promotions and packages which you won’t be able to do on OTA. And secondly, it’s like having a second address (virtual address) where your guests can always visit online and make a booking without requiring him to call you. Now the most important thing to have with a website is a booking engine and a payment gateway without which one would not be able to make bookings or do payment online.
With the evolution of digital era travel, hotels and allied services have become cheaper and accessible to consumers. Consumer internet companies like MakeMyTrip, Yatra, Goibibo, Booking.com and Holidify among others have disrupted the way we book flight/train tickets, hotel room and experience our holidays.
From Hotel’s perspective, it’s been both boon and bane. Competition has risen to its heights and now hotels are struggling to make it through such competition. Only hoteliers know how much it takes to churn out those extra profit figures out of the business in such a competitive scenario where some players have spoiled the market pricing. Now either you can criticize the whole scenario, or you can start taking advantages of the internet boom.
Now how do we exploit the Internet to our own advantage?
Good question, the answer lies in the question, how much you are willing to exploit the internet to your advantage? Now if you look at the market there will be some properties who are doing exceptionally well in online sales. You must be wondering how they are doing so well even though we are at the same locality and providing almost the same facilities as they are why are the guests choosing them over us. Well, that’s because they have a strong online presence; what I meant by that is they are visible to the guests whether its social media, search engine, YouTube or Online Travel Agencies (OTA), they are all over the place and they know well how to position themselves in the online market and maintain the reputation that they have built upon years.
Having your own website will help you drive direct bookings which will be free for commission as compared to the bookings coming from OTA which will take a commission.
∙ Online Travel Agencies (OTA): Being present on all the major OTA’s (For eg: Goibibo, MMT, Booking.com etc.) is very important as almost everyone is present on the OTA whether it’s your competitors or customers. Being present on all major OTA is the first most step you can take to increase your revenue. And the best part is not all hotels manage their OTA’s perfectly so there is always a chance for you to dominate in your local area if you do the things correctly, I won’t go much in detail now as I will be making a separate blog for the same.
Pillar #2 – Online Visibility: Now that you are present in the internet world, why not try to stand out from the crowd by increasing your visibility on the internet and drive more customers to your hotel. This includes:
∙ Search Engine Optimization (SEO): Do you want your Hotel’s website to be on the top of the search list on Google, well then this is just what you require. Search engines like Google use certain algorithms to rank various websites and content present on the internet, and SEO is all about making your website search engine friendly and make your hotel website rank at the top whenever a search is made related to hotels or any related keywords.
∙ Social Media Optimization (SMO): Social media craze has taken the world by storm and it’s the best place to promote your hotel isn’t it? Almost 40-50% guest take suggestions from others before choosing a hotel to stay in. Well The goal of SMO is to strategically create interesting online content, ranging from well-written text to eye-catching digital photos or video clips that encourages and entices people to engage with a website and then share this content, via its web link, with their social media contacts and friends.
Pillar #3 – Online Promotion: This includes:
∙ Promotional campaigns: As stated earlier Social media craze has taken the world by storm and it’s the best place to promote your hotel isn’t it? Well but for that, you may require interesting online content, ranging from well-written text to eye-catching digital photos or video clips that encourages and entices people to engage with a website. Almost 40-50% guest take suggestions from others before choosing a hotel for a stay on social media and website.
∙ PPC campaigns: As compared to free posts on social media and blogs these are paid campaigns on Google and Facebook and you are required to pay for per click. But don’t go on the nature of the campaign as it also gives you a good return on investment (ROI).
Pillar #4 – Awareness of the Competition: This includes creating a competitor list and keeping a track of all the pricing and promotion movements of your competitor and will make a separate blog on the same to go more in details.
Pillar #5 – Pricing Strategy: This is the most important part which includes creating a pricing strategy which not only increases your revenue per available room (RevPAR) but also increases your gross operating profit per available room (GOPPAR). And usually, key performance indicators (KPI) are used to analyze the hotel’s performance in the market. Well, this is a huge topic to talk about and understand about and I will be making a separate blog for the same.
Pillar #6 – Real Time Inventory: This includes updating inventory (no. of rooms available) on real-time which is reality is not possible manually as it is a time-consuming work and for that, we would suggest having a channel manager.
Pillar #7 – Reputation Management: Online Reviews are the next big for the hospitality as it can make your business grow as well as it can give you nightmares. Now to handle this you need a dedicated person to look after all the reviews of guest related to your hotel. This includes giving a quick response on all the online reviews on all the social media accounts and make sure that your online reputation improves over time.
By now you must have realized that how important are these pillars of foundation to your hotel for growth in terms of revenue and customers. We at RevBaba understand all these day to day problems and barriers to your growth well enough and that’s why we have started our company on this vision to not only assist hotels but to be a part of their team and make sure that all these pillars stand strong so that we can build a strong foundation of growth on it so that our Hotel not only excels but also lead on the frontline in the future to come.