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Optimizing Groups Sales, Revenue & Cost

How to increase sales with Hotel Sales Software

Hotel Group Sales Strategies essentially revolve around three activities, attracting more leads to the top of the funnel, qualifying the leads to identify the best potentials and converting more of those potentials into actual sales. While every sales manager worth his role is aware of this, many sales teams are bogged down by daily activity to actually put this into practice. This is where a sales systems like GroupRevMax come to their assistance. Let’s take a look at a few ways a good sales system can help sales managers increase leads and improve conversion.

Improve Conversion

We will first look at the last aspect of the strategy presented here, which is how to increase conversion once potentials have been identified. While many factors like price, location, quality of product in market, etc. which are outside the control of sales teams affect the rate of conversion, there are some things that a sales team controls that can significantly improve conversion too.

Time to Market

Time to market is the time elapsed between the time a sales manager received an inquiry and the time when the proposal reaches the customer. Hotel sales is a more complex animal than quoting a single price and there are many steps involved before a proposal can be generated for a client. And this is the reason many hotels take several hours or even days to respond to inquiries. A good sales system like GroupRevMax can cut down this time into mere minutes. Let’s take a look at GroupRevMax as an example and see how this can be done.

Quick Pricing Decisions

At many hotels, time to reach a pricing decision or reach the decision maker often holds up proposals and reduces conversion. GroupRevMax has a rules based pricing engine that can do something as simple as suggest a daily price for guest rooms, banquet space, Food and Beverage and other add-ons or can get more complex and let revenue managers enter complex pricing criteria based on many parameters across multiple properties or geographies. Either way, the sales manager enters the requirements and they are presented with an instant price to give the customer if on the phone or send out if requesting through email or other online methods.

Quick and Easy Proposals

Hotel sales managers surveyed by GroupRevMax said that a typical proposal takes them about 1 hour to complete and more complex proposals can take several hours. A good sales system like GroupRevMax solves this through the intelligent use of templates that are merged with the requirements and pricing from the previous step and proposals can be generated with little to no effort from sales managers.

GroupRevMax Advantage: Average time from receiving an inquiry to sending out a proposal on GroupRevMax is 3 minutes. To learn more, book a demo with us here

 

Relevance & Quality of Proposals

The quality and relevance of a proposal can have a significant impact on conversion rates. A proposal should be considered the same as a booking site and many aspects of website conversion can apply here as well. For example reducing friction and fear, having clear calls to action, and other user experience design applies to a proposal as much as it applies to a website. Let’s consider some of these and see how a good sales system can convert more.

Reduce Friction & Fear

As hard as hotel sales managers try, it’s a daunting task to keep proposals really relevant to the customer when there is so much to do. For example, including pictures, videos, and walk throughs of a conference room that the client is being offered reduces fear of the unknown. However it is often too much work because it requires the sales person to look at the pictures and videos and select them for each individual proposal. The result is more proposals with generic content that shows pictures of all rooms. Systems like GroupRevMax can automatically select the room being offered and show content related to that, making relevance automatic.

Clear Calls to Action

A clear call to action is often associated with increased conversion in e-commerce. Systems like GroupRevMax provide clear calls to action in web proposals, making it easy for the customer to request a contract, pay a deposit, or ask a question, significantly impacting conversion rates.

Identify Right Potentials

A recent survey by a well-known hotel association found that in some markets, the number of RFPs have gone up by more than 300%. A lot of this is because of websites that allow meeting planners to easily send RFPs to multiple suppliers with one click. Great for the planner, but the downside is too many RFP requests for the hotelier and lower conversion per response.

The solution obviously is to respond to the ones that are most profitable and most likely to convert, but without looking at each of them, it’s hard to prioritize. This is another area where a good sales software like GroupRevMax can help by prioritizing RFPs from various websites, allowing sales to work on the best potentials first. Another efficiency improvement possible is to auto-assign to individual sales managers based on criteria like geography or segment.

Increase Lead Pipeline

The real reason I decided to take up the pipeline last is because managing leads, generating proposals and post-sale communication takes up most of a sales manager’s time leaving them little time to create new pipeline for sales. In fact, an industry survey found that sales managers spend only 15% of their time actually prospecting and selling. A sales system like GroupRevMax not only increases conversion, but makes it many times more efficient to respond to leads, leaving sales managers with as much as 400% more time for actual sales activities and prospecting.

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