Five under-the-radar metrics to track on your hotel booking engine
Optimizing your booking platform for speed, user experience, and simplicity is one of the fastest ways to increase conversion rate. If you’re always on the lookout for new ways to move forward, one thing that continues to go unnoticed is the hidden value of granular booking analytics. After all, a booking engine is far from a simple means to an end. It’s a telltale indicator of customer conversion behavior, seasonal booking patterns, and ways to best capture more bookings in the future.
That being said, here are five sneaky steps you can start to follow on your booking engine, each of which will provide important insights when planning everything from digital advertising and email marketing campaigns to social media strategy.
Reservations by arrival and departure date
Before I head to your property management system that has been tracking check-in and check-out dates for decades, listen to me. I am not offering check-in and check-out dates for confirmed bookings, but rather for clients who have ventured several steps into the booking engine prior to depositing.
The point is, knowing what specific dates customers are buying is extremely valuable when setting up personalized retargeting campaigns. Need to fill rooms during a specific weekend? Start with your fruits at hand and target consumers who have already engaged with those specific dates, and watch your advertising return on investment (ROI) skyrocket.
Days reserved before check-in
By measuring how far in advance consumers book their stays, hoteliers are not only able to gain valuable insight into pricing strategy, but also booking patterns year over year. For example, if revenue is mysteriously declining year-over-year for a certain month in the spring of 2019, knowing that this year’s booking window is shorter could help you predict an impending increase in prices. reservations next month. Bookings for the second quarter could still be on the rise overall; it’s just that people are waiting longer to book their summer vacation in 2019 than they were the year before.
Much like successful e-commerce platforms like Amazon, a hotel’s booking engine is the perfect place to come up with upselling offers like dynamic packaging and room upgrades. Upsells are of no use to you, however, if your booking engine isn’t set up to track metrics like upgrade rate and dynamic opt-ins for packages.
The value here is primarily from an offering development perspective, allowing hoteliers to assess which upgrade paths are working and which are not. Of course, the resulting information allows for the creation of more strategic offers based on seasonal demand and proven consumer behavior.
Reservations by promotional code or tariff code
The same concepts apply here. If you are able to track the promo codes and rate codes that generate the most interest among customers, especially for bookings that haven’t been made, it becomes much easier to set up retargeting campaigns and to create successful packages in the future. You can also keep an eye out for packages that have an unusually high bounce rate (i.e. customers who abandon the booking engine after selecting a certain package).
Reservations per room Type
Here’s a metric that allows hotel marketers to work directly in tandem with their revenue managers. If the revenue manager identifies low occupancy for a specific room type in the coming months, the marketing manager can use their booking engine’s tracking statistics to create a list of potential customers who have inquired about that specific room. but have not completed the reservation. From there, they’ll know exactly which audience to target in upcoming campaigns to successfully fill theaters in the short term.
The beauty of tracking is that marketers can be as creative and proactive as they want. When my agency implements booking engine solutions for clients, our default Google Tag Manager container is standardized with a certain set of tracking metrics, but we’re more than happy to configure additional variables as needed. personalized for each property. The takeaway for hoteliers is this: If there is some metric that would help you run smarter digital campaigns and increase the brand’s online revenue, there’s a good chance it is possible.