The hospitality industry spends billions of dollars every year driving traffic to their websites, yet 81%* of visitors leave before completing their booking. This presents the hotelier with two key challenges. How do you reduce the number of booking abandonments? If visitors do abandon, how do you get them back to your site to complete the transaction? Do what the OTA’s do. Implement a revenue recovery strategy utilizing several popular digital marketing tactics. Studies show that one third of visitors to your website start a reservation but only 2% complete the booking. With the average hotel’s conversion rate around 2-3%, maximizing the conversion rate is critical. Also important, enticing that visitor to book direct, rather than with an OTA.
Do these statistics panic you? Well, the good news is that all is not lost. Studies also show that over 30% of customer’s reconsider booking the same day and over 50% within the same week. Sounds like an opportunity, right? Wondering what can you do to increase your website conversions and directly influence revenue and room nights for your property?
The Revenue Recovery Module is one of the most effective ways of directly enhancing your bottom line and driving online bookings for your hotel. By utilizing the tactics below, you can gain back a reservation that would have been previously lost. Download our whitepaper to know more.
Contributed by : Gaurav Varma, Product Marketing Manager