Hotels must create more anchillary products to maximize revenue growth

 

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Here’s good news  for travel and hospitality websites: In mature global travel markets, growth will remain consistent. But there’s a catch. For companies that want to exceed that growth, it’s critical to make the most of every single customer interaction so mastering upsells and add-ons is becoming more important.

Carroll Rheem, principal analyst at PhoCusWright, noted during The Traveler’s Appetite for Ancillary Products webinar, that the next question becomes how much potential there is for upsells and cross-sells in the travel and hospitality market.

According to PhoCusWright’s research (in a survey commissioned by Monetate), between 10% and 20% of travelers report never being interested in purchasing ancillary products.

The upside to that metric is that the large majority of travelers have some level of interest in purchasing ancillary products.

“There’s a ton of opportunity here. To me, this data says interest in ancillary offers is largely situational,” Rheem said. “For merchandisers, if you are targeting someone when they aren’t interested, it just becomes clutter. So watching the signs to find out when someone is interested is very important.”

That means turning to data to determine exactly when to target ancillary offers to certain travelers can ensure upsells and cross-sells resonate. Which data should you review to uncover the best segments and timing?

 

 

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