PreFitur Academy: Business IntelligenceMarketing 23/11/2021
You already have our booking engine and you know that it converts very well. Up there, everyone agrees. But surely we also agree on another fundamental issue: there is always room for improvement.
And for this, we are very aware of the importance of having data: in real time, in the future, by periods, year over year, sales, demand, segmented, etc.
Probably the main contribution of our Business Intelligence (BI) system has to do with the degree of optimization of the booking engine that it makes available to you. This is of extraordinary value because it directly translates into an indisputable increase in direct reserves.
All the activity of the booking engine is collected in the BI, which facilitates the detailed analysis of the behavior of the users on your website: what they are looking for, what room, occupancy or regime they reserve, when and for when, through what device, how far in advance, from what market, benefiting from what offer or promocode, etc. Information is, ultimately, knowledge. From your potential buyers, from your guests.
In addition, a feature that we always highlight in any of our tools also plays a leading role in our BI: flexibility. Starting from a common base, we could talk about multiple BIs, understood as dashboards and varied readings, tailored to your interests, your needs and your product. Each hotel, hotel chain, is unique. The BI, somehow, too.
Sales and availability
We tend to give our full attention to sales. It's normal, we can't blame ourselves for it. But… what about what is not sold? What about the unsatisfied demand? Through its study, it is possible to achieve the goal that every hotelier, web and engine pursues: non-availability equal to zero. For this reason, from the moment we decided to undertake the renovation of our BI, we were very clear that sales and demand had to be equally important. And it is that making changes that, gradually, reduce the searches that do not offer results, exponentially multiplies the conversion of the booking engine.
Next, we will list the main indicators reflected in the different views of the BI. To find out more, we invite you to register for the webinar that David Madrigal will give this afternoon, starting at 4:30 p.m., within the framework of the PreFitur Academy. Last call! You can register here.
Main KPIs of Paraty Tech Business Intelligence
If you represent a hotel chain, the first thing you should know is that you can consult all the data that we present below by hotel or as a whole, for the specific period that you decide. If, on the other hand, you represent an independent establishment, you will only have to go to the trouble of setting the date range.
- Main Dashboard: at a glance, the most relevant information.
- Room nights
- Conversion rate
- Cancellations (number and value)
- Sales and On the Books: we are going into a little more detail, analyzing these same data, but also paying attention to On the Books and the travel window of all the reservations made in a certain period.
- On the Books: understanding navigation through the BI as a delving into different depth layers, in this view On the Books would be analyzed in detail by month, and making a comparison with the previous year, which also includes cancellations.
- Markets: Where do your guests and the searches of your potential customers come from? Different tables and graphs provide us with this information, relating it to ADR, sales and Lead Time.
- Other data: a bit like a mixed bag, this view collects data of great interest such as: Device or channel (call center, web, mobile, Tablet, goals, agency, etc.)
- Promo codes
- Room typology
- Nutritional regimen
- Demand and Pick Up: Tables that include the searches carried out 60 and 365 days ahead, establishing a relationship between the satisfied demand, the unsatisfied demand and the Pick Up, and comparing these figures with those of the previous year, influencing whether the non-availability was due to:
- The absence of fees charged
- Stay restrictions
- Unsatisfied demand due to stay restrictions: once again, the origin of the non-availability is delved into, in this case focusing on the minimum stay restrictions, compared with the immediately previous month.
As we were moving forward, this would just be the base. From here, the BI goes as far as you want it to go:
- Additional services
- Detailed analysis of offers
- Control of the minimum stay
- Control and analysis of rates
- Daily monitoring of sales
- Conversion funnel
- Call center performance
- Performance of tools like Parity Maker
- Non-availability due to capacities
Benefits for the hotelier of having our Business Intelligence system
Talking about the benefits of having a Business Intelligence system may sound like listing evidence, but the truth is that many clients do not fully exploit their potential as we do, for example, the entire team of Paraty Tech revenue managers, for whom this BI is a mandatory tool in our day to day.
- Identify demand trends
- Get to know our potential client in depth
- Identify strengths
- Correct weaknesses
- Exploit or discard markets or channels
- Improve our product
- Segment at the highest level
- 360º vision
- Optimize revenue strategy
- To achieve, in short, offer a solution to each request so that, ultimately, our potential guest always has the possibility of staying. Whether you decide to do it or not, the goal is to get them to depend on him/her, not on the shortcomings of the booking engine.