Effective communication is the backbone of Revenue Management
Effective communication is the backbone of several marketing verticals, but it plays a major role in Revenue Management, especially when it comes to hotels, which essentially thrives on communication of all sorts. What is required is communication between all departments of a hotel, communication between target group and hotel marketers, and communication between revenue managers and the booking department. Here are a few tips to help you do just that:
- Build a trust factor with your unknown advocates, who actually are your loyal patrons. They would only be spreading good word of mouth about the hotel, thus being brand advocates.
- Another thing to do first of all is to know your audience. Offer only what is relevant to them.
- Make use of OTAs to strengthen your brand. After the OTAs leave, you will have a well-known hotel brand on your hands
- Harness the power of social media to sell your rooms.
Try these and let me know how they worked out for you. Later, we can sit over a cup of coffee and discuss other alternatives to streamlining your revenue management system.