5 (More) Key Trends for Revenue Management

5 (more ) Key TrendsFOR MODERNREVENUEMANAGEMENT

NETAFFINITY .COM

Maeve Walls

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One: Mobile

Two: Cost Per Acquisition

Three: Embracing Collaboration

Four: Sharing the Knowledge

Five: Keeping In the Loop

THETRENDS

5This is the second in a 2 part series - check out the first 5 trends here. Today,we're looking at 5 more: not the timeless fundamentals, but current trends andstrategies. These are the ones that are vital to strong revenue growth, and theyare the ones you should take advantage of to let your profits to soar.

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The past few years have given birth to a wide variety of revenuemanagement ‘best practices’ and tools. What’s the equation for success?

Two of the major factors affecting a modern revenue manager’s success arethe tools they're using & how well RMs are integrating their knowledge withthe big picture.

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MOBILE1Mobile revenue stream =

being prepared

25%Net Affinity's data shows that as of Q1 2016, 47% oftraffic is mobile. 25% of all transactions on hotelwebsites are on mobile. Is your hotel ready?

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THE BOTTOMLINE :

BE PREPARED

To grow revenue from mobile, youneed a responsive or an adaptivewebsite, and you need to follow

conversion best practices on mobile.

mobile revenuestream .

Don 't underestimate theimportance of a

Be Prepared !

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COST PERACQUISITION

2Let's talk about CPA.

CPA IS A CRYSTAL-CLEARMEASURE OF HOWCAMPAIGNS ARE TRULYPERFORMING

You might argue that calculating CPA isn't exactly atrend - however, with digital marketing campaignsand the amount of data we get from them, measuringyour CPA is both easier and more important thanever.

MAKE YOUR COSTPER ACQUISITION AKPI FOR EVERYCAMPAIGN

For example, an optimal CPA% ceiling for a brand campaign

might be approximately 12%. It all depends on your hotel's rate

strategy and availability.

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WHY TURNOFF THETAP?

Why restrict spending on acampaign when you're below your

CPA% ceiling? You're gettingbookings at a lower cost than you

can through other channels.

Don't throw money away byrestricting budget on a successful

campaign!

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EMBRACINGCOLLABORATION

3Breaking down silos is how you

grow your hotel

STAY SHARPYour hotel team should all be focused on the samegoal, and you should be working together to achieve it!Pooled resources get the job done more efficiently.

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The hotels reaping the benefits are theones breaking down departmental silos,and adopting a more inclusive andcollaborative approach.

SHARED INFO ISYOUR HOTEL 'SBRAINThe changes needs to apply to all aspects of revenue generating, not just

HOD meetings or progress updates. Otherwise, your picture of events will

be incomplete.

Think of it this way: if your left hand and right hand are working without a

‘brain’ – a collaborative, information-sharing center – between them, how

can you expect them to work efficiently?

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SHARING THEKNOWLEDGE

4Challenge the norm and stretch

your ideas further

"KNOWLEDGE IS POWER"

"SO HOLD ONTO IT FOR DEAR LIFE AND TELL NOBODY"

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THE PHRASE

WAS NOT FOLLOWED BY

Your website's booking engine is your direct online channel.

If you, for example, hold back on sharing accurate knowledge on how

the website performs in relation to overall sales and in relation to

online channels, your provider only sees one part of the pie. If you

don’t know where your weaknesses are, there’s no way you can

improve and succeed!

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Your booking engine is a keysource of knowledge to beshared.

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Knowledge managementhas saved leadingcompanies millions of euroeach year. You need:

A people & culture dedicated tousing the systemA team that knows the benefits &are motivated to share knowledgeThe technology to achieve it all

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READINDUSTRY

NEWS

5Take a look at the bigger

picture

YOU'RE NOT ALONEChecking in with the big picture can help reassure youthat challenges you are facing are not unique to yourproperty.

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We are all busy, but it’s important to take a pause to read up onwhat’s topical in industry. If you can fit it in before the daily rushtakes over, you’ll be able to see what new tools are on the horizon,and glean insights into trends and items to research or implement.

STAYENGAGEDHere are a few resources we regularly follow:

Box Ever

Duetto

HSMAI

Net Affinity

RateGain Travel Pulse

ReviewPro

Skift

Search Engine Land

TNooz

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THANKYOU !

Focused exclusively on the hotel sector, Net Affinity is a technology,digital marketing and web design firm. We have collated the brightest,most commercially focused, experienced and passionate team of onlinemarketers, account managers, designers and developers whosecombined skill set ensures our clients' online success.

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