How do online reviews generate more revenue for my business?
It’s a recurring issue: by now, we’re all very aware of the importance of guest reviews, but what ultimately matters is of course the revenue generated by your business. So let’s think about the link between guest reviews and an increase in your revenue.
Identify the platforms which are relevant to your business
The title says it all! The landscape of the different review platforms can sometimes seem intimidating at first glance. There are a variety of sites, but not all of them are necessarily beneficial for your business. You need to know your clientele, where they come from and what their habits are. For instance, if you can determine that a large proportion of your guests come from German-speaking countries, it would seem vital that you work on your visibility on a platform like HolidayCheck, which is very popular with this group. This will have a positive impact on your occupancy rate and your revenue, because these guests will feel more reassured from platforms which they are familiar with and therefore more likely to make a booking with you.
Of course, all hotels tend to use platforms like TripAdvisor, Google and Facebook as a wide variety of people of different nationalities also use these. It’s therefore crucial to manage your online reputation on these sites, as this has a direct impact on your Average Daily Rate.
Customer Alliance helps you to gain a better understanding of all these portals, and to identify those which are most beneficial, notably via a coherent review distribution strategy that is tailored to your requirements.
Take control of review platforms
There are far too many businesses which suffer as a result of their online reputation. Google, TripAdvisor and Facebook are above all tools which you can benefit from. Nowadays, the guest journey takes place primarily over the internet. So, put yourself in the shoes of a potential guest who is unable to find the necessary information to make a booking (phone number, website, check-in/check-out times) on one of your pages. Indeed, simulating the guest journey can reveal some key information about your clientele. In parallel, it’s also vital to have a number of regular and recent reviews on these pages to gain the confidence of potential guests and show that you have a serious and professional image. This can also be conveyed through an increased collection of guest reviews, but above all through regular, thoughtful responses to the latter.
Get the better of your competition
In your Revenue Management strategy, you owe it to yourself to always keep an eye on your competition, to know their position in terms of sales price for rooms and the other benefits they offer. As well as being up to date with the traditional elements which can have an impact on a pricing policy such as events (sport, conferences, shows…) being held in your town or region, analysing your reputation in line with the latter can help you to achieve a better understanding of your strengths and weaknesses. For example, if you start by considering your classification on TripAdvisor in your town/region (with Customer Alliance, you can monitor your TripAdvisor City Rank), you can then adjust your sales price either up or down and therefore ensure that you receive more bookings as a result.
To make the task easier for you, we offer a thorough semantic analysis which enables you to easily identify your competitive advantage.
To sum up…
By simply following this roadmap, you will guarantee an effective monitoring of your online presence, a better understanding of guests’ expectations and needs, as well as a detailed image of your competition. If you optimise your operations and master your online visibility, you will be in a position to improve your sales price and occupancy rate and therefore achieve better profitability. Of course, guest reviews will not only help you to increase the price for a room, but also to market your benefits better, for instance your restaurant or spa. Take a look at our article on GOPPAR to learn more.
Want to find out more about how to turn your reviews into revenue? Our team of experts are happy to show you how to do this with Customer Alliance, by optimising your presence on leading online portals such as TripAdvisor, Google and Facebook. Simply book an appointment today.