Create a Data-Driven Culture to Propel Meeting Bookings
Big data is one of the most talked about topics of conversation in hospitality and business today; however, what kind of data is collected and how it is utilized marks the difference between a set of numbers and a growing bottom line.
Small meeting spaces are often booked for intimate meetings and offsite events, but it can be difficult to connect the dots to form the big picture when each booking is managed in silo with a different manager handling each request.
Data has the power to transform that. With the implementation of a direct booking channel, a hotel has regular access to all information needed to create a data-driven culture.
In addition to freeing up your staff for more nuanced work, direct booking channels eliminate the variability of human decision-making. Decisions can be made and based on detailed data rather than anecdotal evidence.
Benefits of a data-driven culture include better employee understanding of the value of data and how it applies to decision-making. Teams are more likely to use data to create strategies, make decisions, and communicate clearly across departments and entire organizations.
“To make analytics part of the fabric of daily operations, managers must view it as central to solving problems and identifying opportunities,” a recent McKinsey & Company report concluded.
It can be a struggle to incorporate data into business processes which is why having it delivered at regular intervals is so important to shifting this culture. Hotel leaders can then send a clear message to staff that no decisions will be made unless there is data to back it up.
An online direct booking channel is the most important tool to enable data-driven decision-making that increases revenue, creates opportunities for personalization, and shifts corporate culture.
However, there are several features needed in an online direct booking platform to foster those results.
Meetings Maker is the only direct online booking system for meetings that provides enterprise graphical reporting, turning customer and booking data into powerful insight. Teams can be provided with cohesive, easy to understand reports on a regular basis.
A direct online booking system can also give you more control of pricing.
Price yield management tools included in Meetings Maker for example, allow your teams to set rules, rates and triggers that ensure the optimum price and occupancy mix is always achieved. It can also create special pricing or discounts and apply them to specific rooms, time periods or customers.
There is ample opportunity for the hospitality industry to drive greater innovation.
We encourage hoteliers to look beyond the direct versus third-party booking saga as a fight for lower distribution cost and rather as an opportunity to better connect with business, staff and customers.
To learn more, download the white paper How Data Will Revolutionize Direct Meeting Bookings here. To learn more about Bookingtek and how we can help your hotel achieve a holistic booking strategy, contact firstname.lastname@example.org.