Profit Playbook for Vacation Rentals

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Page 14 of 15

6 4. Reputation Management A TripAdvisor travel survey shows that 77% of travelers always check travel reviews on the site before booking a hotel (HotelMarketing)� A TrustYou study reports that if prices are equal between two hotels, travelers are nearly 4 times more likely to choose the property with higher review scores, and 76% were willing to pay more for a property with higher scores (Tnooz)� To stay competitive not only do solid reviews matter, but travelers need easy access to them� Put reviews out there front and center� 5. 24/7/365 Call Coverage Many VRMCs struggle with this element of guest service due to staffing and budget limitations, especially when it comes to competing with hotels� It is essential that guests can reach an agent at all times. If 24-hour in-house call coverage is not viable, options such as NAVIS RezForce provide well-trained hospitality experts to cover overflow calls during peak hours as well as overnight� In addition to increasing conversions, having agents available at all hours increases traveler confidence in your product and service� The voice channel continues to be the top revenue driver for vacation rentals� Comprehensive call coverage is well worth the investment. All of these profitability tactics are connected to one goal—to continuously engage with and provide value for guests� In addition to staying in touch with market shis and competitors, VRMCs must understand traveler habits, concerns, and interests� An essential component once those needs are understood is to capture data to maximize voice and online channels for the most profitable direct bookings and an increased volume of repeat business�

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