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8 Challenges You'll Face When Implementing a Revenue Strategy [for Independent Hotels]

Net Affinity | Conversion Optimisation for Savvy Hoteliers 21 June 2017
Implementing a revenue strategy comes with a unique set of challenges. Hotels need to remember why they are focusing on optimising each channel, and how direct bookings reduce costs and produce a higher lifetime value for each guest. In the second article in our Challenges for Independent Hotels series, we cover difficulties often faced by revenue managers who are trying to implement robust revenue strategies.
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How To Build & Analyse Successful Hotel Rate Plans

Net Affinity | Conversion Optimisation for Savvy Hoteliers 15 June 2017
How do you design a successful rate plan for your hotel? Why are some rate plans more successful than others? When you create rate plans, try and tap into your inner hotel shopper psyche. Is your customer planning to visit your hotel for business, or pleasure? What are their expectations when they make their initial date search? When they’re visiting your hotel website, what do the images they see on the homepage represent? What about your images and copy in the Bedrooms, Food and Beverage, Golf and Spa pages?
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Why Rate Disparity Matters, and What to Do About It

Net Affinity | Conversion Optimisation for Savvy Hoteliers 14 June 2017
Rate disparity, if left unchecked, can seriously impact your hotel’s bottom line. Hotels often find themselves with lower rates on OTAs and other third party channels than they do on their own website – that’s not good! So what can hotels do?
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Tips to Evaluate and Succeed with Hotel Tech

Net Affinity | Conversion Optimisation for Savvy Hoteliers 9 June 2017
This week’s round up of reads starts with a great piece from Snapshot, focusing on how to evaluate technology to succeed faster and better. We’re also looking at the selection process for that technology, and how to truly focus on customer over product – sometimes easier said than done!
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[Infographic] What Makes a Successful Revenue Strategy?

Net Affinity | Conversion Optimisation for Savvy Hoteliers 8 June 2017
The travel industry is competitive, fragmented and swiftly changing. In that environment, an intelligent, flexible revenue strategy is the only path to success. Independent hotels face a unique set of opportunities and challenges when it comes to developing a solid revenue strategy.
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6 Ways to Grow Direct Bookings with Booking Engine Data

Net Affinity | Conversion Optimisation for Savvy Hoteliers 7 June 2017
Your booking engine has a lot more going on under the hood than you might imagine. Specifically, it has a huge amount of useable data. Broken down properly, that data can be used to give your direct bookings a strong boost.
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Improve Your Hotel's Revenue Strategy with Proper Segmentation

Net Affinity | Conversion Optimisation for Savvy Hoteliers 29 May 2017
Segmentation is a key feature in any hotel’s revenue strategy. To set an overall goal for the year, hotels must break down their target markets and approach to focus on which areas of business they’d like to grow and develop. Firstly, let’s nail down exactly what we mean by segmentation. For our purposes segmentation is “the process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics.” Segmentation allows you to tailor your strategy to precisely match the needs of different aspects of your market, increasing bookings, revenue and guest satisfaction.
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Why Hotels Should Stick With Independent Technology Suppliers

Net Affinity | Conversion Optimisation for Savvy Hoteliers 25 May 2017
In the past few years, large online travel agencies like Booking.com and Expedia have developed free revenue technology tools for hotels to use. These tools (including revenue management, online reputation management, and more) solve a significant issue for hotels. Namely, how to develop and execute advanced revenue strategies without spending lots of money on the The post Why Hotels Should Stick With Independent Technology Suppliers appeared first on Net Affinity Blog.
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What Makes a Successful Revenue Strategy for Independent Hotels?

Net Affinity | Conversion Optimisation for Savvy Hoteliers 24 May 2017
Independent hotels face a unique set of opportunities and challenges when it comes to developing and implementing their revenue strategy. The independent hotel doesn’t have the negotiating power or marketing budgets of multinational chain hotels, so they’re in a more vulnerable negotiating position with OTAs. There are also often issues with investing in and integrating new technology.
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Technology Focus Needed to Drive Direct Bookings

Net Affinity | Conversion Optimisation for Savvy Hoteliers 12 May 2017
Hotels need to focus on their technology to drive direct bookings. Siteminder’s Global Hotel Business Index 2017 shows that the highest priority for hotels in 2017 is “increasing volume of direct online bookings,” and the lowest is “exploring new hotel technology and spending”. However, the two go hand in hand. Hoteliers also name “revenue-generating strategy management” as their biggest spending area over the next 12 months … that also requires good technology, and is an integral part of driving direct bookings.
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5 Ways Revenue Management is Essential to Building Direct Bookings

Net Affinity | Conversion Optimisation for Savvy Hoteliers 11 April 2017
Revenue management is fundamental to a well-run hotel. It’s the way hoteliers manage rates, inventory, and distribution in an effort to show the right room to the right guest at the right time at the right price. Here are 5 ways that you can use revenue management techniques specifically to build direct bookings. The recent drive to push bookings directly through a hotel website comes from a few places. Firstly, managed with proper revenue management, direct bookings are more cost effective than third party bookings. This brings in higher profit margins for your hotel.
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Hotels Striving to Control Prices and Profits

Net Affinity | Conversion Optimisation for Savvy Hoteliers 31 March 2017
This week’s news has involved much discussion of pricing. Hotels are seeing some signs that price control is returning to them as they fight to reduce OTA commissions and change consumer ways of thinking. They’re also seeking ways to increase profitability overall – see the panel discussion below.
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Book Direct: A Profitable Strategy or a Daydream?

Net Affinity | Conversion Optimisation for Savvy Hoteliers 24 March 2017
Book direct strategies: can you pursue one profitably, or are they nothing but wishful thinking? We’d like to argue strongly that not only are they profitable (managed properly), they are essential.
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How Booking Recovery Tools Can Make You Thousands In Revenue

Net Affinity | Conversion Optimisation for Savvy Hoteliers 22 March 2017
Booking recovery tools can make your hotel thousands in direct revenue. Here’s a quick breakdown of how and why they work. There are two different times when it’s vital to keep guests interested. Before they’re ready to make a booking, and after abandoning your site mid-booking. Today we’ll be talking about what happens after a user abandons a booking.
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[SlideShare] 11 Things to Look for in a Hotel Booking Engine Provider

Net Affinity | Conversion Optimisation for Savvy Hoteliers 7 March 2017
What should you be getting from your hotel booking engine provider? Which features are most important to your hotel, and which can you live without? From our perspective, your hotel booking engine provider should be giving you a highly flexible, fully controllable, feature-rich solution, along with in-depth reporting and a team to support you.
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Revenue Opportunities - What Can Your Hotel Do?

Net Affinity | Conversion Optimisation for Savvy Hoteliers 17 February 2017
This week is all about the opportunities for your hotel’s revenue strategy. We’ve found benchmarks for the reservation process across the United States and Europe for you to compare your hotel to. Take a look and see where you stand! After that, dive into one of our most-anticipated annual articles – 8 Key Revenue Strategy Trends for 2017. Our Head of Revenue Strategy has taken a look at what’s ahead. This year, it’s about using technology smartly, adopting it more widely, and keeping eyes – and minds – open. Lastly, we found a few short guides to help you get the most from your hotel. Take a look at the guide to capitalize on website traffic, and 5 ways to use data to increase revenue!

8 Key Revenue Strategy Trends for 2017

Net Affinity | Conversion Optimisation for Savvy Hoteliers 16 February 2017
Even compared to 2016’s chaos, making predictions for 2017’s revenue strategy trends has proved a challenging task! In many ways, 2016 was a year for defying logic and taking actions that would have been seen as preposterous months earlier. With any luck, 2017 will be a bit steadier.
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11 Things to Look for in a Hotel Booking Engine Provider

Net Affinity | Conversion Optimisation for Savvy Hoteliers 8 February 2017
What should you be getting from your hotel booking engine provider? Which features are most important to your hotel, and which can you live without? From our perspective, your hotel booking engine provider should be giving you a highly flexible, fully controllable, feature-rich solution, along with in-depth reporting and a team to support you.
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[SlideShare] How Do Hotels Grow Rates? 5 Strategies for Success

Net Affinity | Conversion Optimisation for Savvy Hoteliers 25 January 2017
The annual budget season for hotels has come around again! For dedicated sales teams, this means deep planning and foresight to improve the past year's successes and overcome potential failures. A big part of this planning is tackling the challenge of rate growth while also driving direct bookings. Our goal today is to provide 5 The post [SlideShare] How Do Hotels Grow Rates? 5 Strategies for Success appeared first on Net Affinity Blog.
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How Should Your Hotel Website Display Pricing?

Net Affinity | Conversion Optimisation for Savvy Hoteliers 24 January 2017
How do different pricing methods affect users behaviour while booking? Net Affinity’s team of conversion scientists have made a thorough study of user behaviour while booking in our Digital Trends Report.
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[E-BOOK] Digital Trends for the Hotel Industry

Net Affinity | Conversion Optimisation for Savvy Hoteliers 16 December 2016
We've Analyzed 6 Million Hotel Web Sessions. Here's What We Found. Welcome to the first edition of our digital trends report, designed to be the essential companion for the savvy hotelier. Our conversion optimisation, revenue management and marketing specialists, along with key members of our team, have analyzed the most important digital trends facing hoteliers The post [E-BOOK] Digital Trends for the Hotel Industry appeared first on Net Affinity Blog.
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[SlideShare] 6 Ways Revenue Managers Use Data

Net Affinity | Conversion Optimisation for Savvy Hoteliers 6 December 2016
What should revenue managers base their decisions on? At the core, Revenue managers must base their decisions on data. Potential guests are easily overwhelmed when they’re visiting dozens of websites and looking at hundreds of hotels. When they get to your website, ensure that it’s different. Make your website a haven of carefully-selected images, content and rate plans.
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[E-Book] The Revenue Manager's Guide to Building Direct Bookings

Net Affinity | Conversion Optimisation for Savvy Hoteliers 22 November 2016
Our goal at Net Affinity is to help hotels build a thriving book direct strategy. We know that process can be challenging, though, with guests visiting between 121 and 161 travel sites in the 5 weeks before they book a trip. How do you hold users’ attention and persuade them to book? This e-book is designed to make things easier.
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4 Easy Mistakes to Avoid for Your Hotel's Book Direct Strategy

Net Affinity | Conversion Optimisation for Savvy Hoteliers 15 November 2016
Direct bookings are more profitable than bookings through third parties. Studies have shown the benefits of convincing guests to book direct on your brand.com website. They typically have much lower commission costs than third party channels, and they give you a better chance at winning a guest’s loyalty than you get with bookings from an OTA. The difficulty, especially for independent hotels with smaller marketing budgets, is reaching guests and persuading them that direct is best. OTAs have massive marketing budgets and cutting edge research, and there’s no denying that they’re convenient. So, what do you need to do to persuade guests to book direct – and what mistakes are you making?
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Your Hotel's Revenue and Marketing Strategy Kit for 2017

Net Affinity | Conversion Optimisation for Savvy Hoteliers 11 November 2016
We still have nearly two months of 2016 left, but it's time to look beyond that. By now, your hotel will be outlining marketing and revenue strategies for 2017 (or maybe you're already done!). To help you tick a few boxes off your massive task lists, we're offering a few great guides and overviews for The post Your Hotel's Revenue and Marketing Strategy Kit for 2017 appeared first on Net Affinity Blog.
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Find the Right Pricing Strategy and RMS to Drive Direct Bookings

Net Affinity | Conversion Optimisation for Savvy Hoteliers 28 October 2016
Revenue managers dedicate a big part of their day to managing hotel rates and driving profits. They are constantly analyzing data and various influencing factors to find that coveted sweet spot – and a revenue manager’s greatest reward is finding the ideal public pricing that attracts guests and boosts their organization’s bottom line. However, what makes accomplishing this task so complex is that each hotel property is unique and therefore its revenue strategy must be too. After all, the size of a hotel’s profit margin depends largely on revenue from a great pricing strategy. It’s essential that hoteliers thoroughly evaluate pricing options to determine what’s best for their business and customers.

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