Peak season is a time when property managers can do a lot to optimise for occupancy and increase revenue. The high-demand calls for smart action and savvy hacks that can help you boost visibility, increase conversions and reduce cancellations. If you’re listing your properties with Booking.com, you’ll be thrilled to know of the brand new solution that can help you make the most of your high season: Booking.com Opportunities. Here’s what you need to know and how you can benefit from them.
Improve Your Business with Booking.com Opportunities
Even if you’ve been listing your properties on Booking.com for a while, there’s always an opportunity to do better. A little tweak here, a small adjustment there: any improvement to your listing could translate into huge results. But how do you know which areas could use a bit of attention? Booking.com has just come out with a new feature to support property managers with tailored, data-driven tips. The goal is to help you revamp your listings so that your properties perform even better. Here’s how it works.
What are Booking.com Opportunities?
Opportunities are actionable solutions that you can implement to get more bookings and increase revenue – all tailored to your profile and situation.
Booking.com analyses your listings and gives you suggestions on how to improve them. The comprehensive audit covers all areas of page optimization: photos, rates, payment policies, amenities, facilities, messaging options, cancellation policies and more. After the scan, you will be suggested data-driven actions based on algorithms that are all aimed at boosting your performance.
Where can you find your Opportunities?
Your personalised suggestions are displayed in the Opportunity Centre, which can be accessed via the top toolbar in the Booking.com extranet. When you get a new Opportunity, you can choose to take action immediately or ignore for now and save for a later time.
What are the main types of Opportunities?
With the introduction of the new feature, Booking.com will give you Opportunities to help you increase your revenue, get fewer cancellations and attract high-value guests to your properties.
The actionable tips that you will receive cover all three steps of a successful journey to improving your performance: ranking, conversion and cancellations.
Here are some examples of suggestions you may get and how you can benefit from implementing them.
1. Business rate (conversion): Get an average of 11% more bookings by adding a business rate to your page. Attract more of these high-value guests who are 50% less likely to cancel than others.
2. Preferred Partner Programme (conversion, ranking): Boost reservations by 40% by joining the Booking.com Preferred Partner Programme. Get a boost in visibility and a noticeable thumbs-up icon next to your property in search results.
3. Genius Programme (conversion, ranking): Make an average of 17% more revenue by joining the Booking.com Genius Programme. Get a boost in search results ranking and a special Genius tag.
4. Netflix (conversion): Get more bookings by updating your room amenities to include Netflix.
5. Non-refundable rates (conversion, cancellations): Reduce cancellations by 9% and generate 5% more bookings by offering a non-refundable rate. See growth in revenue by catering to guests who are sure that they’re not going to cancel and happy to pay upfront.
6. Automatic reply templates (workload): Save 15% of operational time with automatic replies to answer your guests’ most common questions. Update your messaging setting to include scheduled messages and automatic reply that require no manual work.
Booking.com Opportunities are a brand new way that can help you improve your business without adding to your workload or complicating any of your processes. If you haven’t already, sign in your extranet and set them up.
Offer discounts with Booking.com Promotions
Since leisure travellers often make decisions based on the best price, offering discounts is a great way to increase conversions and maximise occupancy during peak season and beyond. Booking.com’s new Promotions feature lets property managers create promotional rates based on different criteria.
Promotions lets you offer a discount for:
– Guests staying longer than a particular number of nights
– Guests booking in a particular time window
– Guests staying in a particular time frame
– Guests booking early in advance
– Guests booking at the last minute
Promotions can be used to achieve different goals, for example, incentivising guests to book longer stays, making sure your rental is occupied during dry periods, locking in high-value early-bird bookings and securing last-minute stays.
And best of all, they’re easy to set up and don’t require too much time to manage.
How can you create new promotions?
If you’re using a Booking.com partner such as Rentals United Channel Manager, you can create, manage and review your promotions directly from your platform through the Promotions API, without having to log into Booking.com.