Market insights can provide a comprehensive understanding of market trends, guest preferences and industry dynamics. STAAH MAX users can analyze market insights and make informed decisions. Let’s find out how?
Booking.com has introduced a feature that provides Market Insights into what bookers are searching for in your region. If you are a STAAH MAX customer you can avail this feature via your extranet.
What are the Benefits of Market Insights?
Market insights provide numerous benefits for accommodation providers. Let’s look at some of the key advantages
1) Understanding guest search information:
By gaining access to guests’ search information, hoteliers/accommodation providers can get a quick overview of what potential guests are looking for. This knowledge allows them to tailor their offerings to meet those specific demands, enhancing the chances of attracting and converting leads.
2)Booking window visibility:
Knowing the average booking window gives accommodation owners insights into the timing of reservations. This information helps in optimizing pricing strategies and promotional activities, allowing properties to offer the right deals at the right time.
3)Identifying traveller type:
Market insights enable hoteliers/accommodation providers to categorize guests based on various criteria such as family travellers, international tourists, business travellers, etc. This segmentation helps in understanding the diverse needs and preferences of different customer groups, allowing hoteliers to customize their services and marketing efforts accordingly.
4)Analyzing devices used by bookers:
With insights into the devices used by bookers, accommodation providers can optimize their online presence and user experience to cater to the most common platforms or devices.
5)Knowing the guest’s country of origin:
Understanding the guest’s country of origin provides valuable information about their cultural background, preferences, and potential language barriers. This knowledge enables accommodation providers to personalize their communication, marketing messages, and services to accommodate the specific needs and expectations of guests from different countries.
6)Identifying popular cancellation policies:
By analyzing popular cancellation policies, hoteliers/accommodation providers can gain a better understanding of guest preferences and factors that influence their decision to cancel a booking. This insight allows them to fine-tune their cancellation policies, striking a balance between guest satisfaction and minimizing potential revenue loss.
7)Targeting bookers with tailored restrictions and deals:
Armed with market insights, accommodation providers can implement targeted strategies to attract specific bookers. For example, if families are a significant segment, hotels can offer family-friendly amenities or packages to entice them. Similarly, if international tourists are a key audience, language support, localized promotions, or cultural experiences can be tailored to meet their expectations.
8)Pricing and promotion planning:
Market insights help accommodation providers understand guests’ demands and preferences, allowing them to plan pricing strategies and promotional activities effectively. With a clear understanding of what guests are looking for, accommodation providers can offer competitive prices, attractive discounts, and relevant promotions to maximize revenue and occupancy rates.
By leveraging market insights effectively via Booking.com, STAAH customers can definitely gain a competitive edge, improve customer satisfaction, and achieve revenue goals.
How to view Market Insights in STAAH MAX?
Login to STAAH MAX extranet
• Select Reports (from the menu bar)
• Insights > Select ‘Market Insights’
• Once selected you will see data provided by Booking.com
Did you know you can manage Content on Booking.com via STAAH?
If you have any further questions feel free to view our help centre or email your query to support@staah.com