New Milestone CMS feature returns $21 FOR EVERY $1 YOU INVEST IN the Revenue Recovery Module
A hotel operates in an environment that is getting increasingly competitive. At the same time, OTA fees keep rising year-over-year. In such an environment, website conversion rate is always a key indicator to any hospitality business. On average, one third of visitors will begin a reservation but only 5% will complete the booking. In a study done by Sales Cycle*, 81% of people abandoned their travel bookings online. With the average hotel’s conversation rate around 2-3%, increasing conversion rates means directly driving the top line.
While these statistics may seem troublesome, the good news is that there is a compelling strategy that is available to help the situation. Over 30% of customers are willing to book the same day and over 50% within the same week. That’s an opportunity ripe for the taking. Milestone now offers a new feature as part of its award-winning content management system (CMS) designed to directly help business professionals like you take charge and drive higher returns from your existing website.
THE REVENUE RECOVERY MODULE
Our Revenue Recovery Module is one of the most effective ways of directly enhancing your bottom line and driving online bookings for your hotel. It is the only type of marketing communication that remains private while delivering a personal connection to your potential hotel guest. Most importantly, it has an opt-in process that turns it into absolute permission marketing.
1. Reservation Retargeting Email Campaign: Encourages the visitor to complete their original booking.
- Emails are auto scheduled the moment a user abandons a reservation without converting.
- Milestone will set up your email account, design your emails and develop your automated email campaigns.
- Email campaigns are integrated with your booking engine.
Email captured during the booking process which will be used to send retargeting email campaigns to drive back conversions.
2. Reservation Reminder: The user can request an email reminder to book later
- Milestone will develop for you an automated email campaign that are auto scheduled at the request of the user.
Email Auto reminder request
3. Reservation Abandonment Promotions: Marketing Promotion messaging displayed when users on your website display “exit intent.”
- Milestone will develop for you automated site abandonment promotional messaging that will be programmed into your existing Milestone Marketing website.
- Marketing promotion messages are triggered based on agreed upon settings and visitor interactions determined by client.
Marketing promotion banner
STILL WONDERING IF IT DRIVES CONVERSIONS?
We tested these new features on our live customer websites over a period of 2 months to gauge the effectiveness of the campaigns and their ability to drive revenue and bookings and found that hotels could drive a relatively high conversion rate of ~6-8% and a ROI as high as $21: $1.
*Your results may vary **70% would NOT have returned on their own & is completely new business.
Your website is your key branding and eCommerce asset and it’s never too late to take ownership of your eCommerce strategy. At Milestone, we help over 2000 customers drive higher conversions and revenue. To learn more about the Revenue Recovery Module features and pricing, please contact us at [email protected], 408-492-9055 or www.milestoneinternet.com.
About Milestone CMS:
Milestone CMS is a next generation cloud-based content management system architected for high performance, consumer-facing web sites. This platform allows hotels, retailers and financial services organizations to rapidly deploy and manage websites, location pages and micro-sites with great ease and at a fraction of the cost of existing systems. Milestone CMS has been built around three core principles: speed, mobile first capabilities and compatibility with modern search technologies like voice search and machine learning. Milestone CMS allows companies to build websites that consistently score over 80 on Google’s speed tests for both desktop and mobile, and that are powered by innovative technologies like Google AMP.
Contributed by Gaurav Varma, Product Marketing Manager