Vouchers: the untapped revenue accelerator in hospitality

vouchersIn the vast expanse of direct marketing literature, vouchers emerge as a formidable strategy to amplify revenue streams. They are not merely a tactic employed by online travel agents to foster additional bookings or transform casual browsers into confirmed guests. Nor are they exclusively the realm of e-commerce platforms. Some organizations, such as Payback, have built their entire business model around the allure of vouchers and consumer eagerness to leverage them.

This begs the question: why is the hospitality sector, especially hotels, lagging in harnessing this potent tool for revenue generation? The discussion should transcend the conventional scope of gifting birthday vouchers; it’s about strategically deploying vouchers to fuel revenue growth. The conversation around vouchers in hospitality needs to evolve beyond the traditional gifting model. It’s about using vouchers as a strategic tool to enhance direct bookings and guest loyalty.

Bridging technological gaps in jotel infrastructure

The crux of the matter lies in the technological infrastructure of hotels, from boutique establishments to sprawling chains. A glaring gap in hotel technology is the lack of a Central Guest Profile (CGP), which significantly hinders the effective utilization of vouchers in direct marketing and distribution.

The importance of a Central Guest Profile (CGP)

The essence of a voucher campaign is to nudge potential guests towards making a purchase. This requires a nuanced understanding of the customer’s current engagement level with your hotel. Issuing a 10% discount voucher for direct bookings to someone who has already secured a reservation could inadvertently prompt them to cancel and rebook or request the discount post-booking—outcomes that are counterproductive to the intended goal of boosting sales.

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Implementing a successful voucher strategy

Implementing a successful voucher strategy necessitates the creation and maintenance of a Central Guest Profile. This database acts as the cornerstone for personalized marketing efforts, enabling hotels to identify and target potential guests with compelling offers at the opportune moment.

Recalibrating IT strategies for effective voucher use

Firstly, it’s imperative to recalibrate your IT strategy, positioning the Central Guest Profile at its core. This shift will not only facilitate a more targeted and efficient use of vouchers but also enhance overall guest engagement and satisfaction.

Learning from competitor analysis

Secondly, skepticism towards the guest-centric claims of competitors can be enlightening. A simple test—visiting their website without an existing booking to see if a voucher is offered—can reveal much about their direct distribution strategy and customer recognition capabilities.

Unlocking the full potential of vouchers in hospitality

In summary, vouchers represent a significant, yet underutilized, opportunity for revenue enhancement in the hospitality industry. By addressing technological gaps and adopting a guest-centric approach, hotels can unlock the full potential of vouchers, transforming them from a missed opportunity into a dynamic tool for growth and guest satisfaction.

Tags: Central Guest Profile, CGP, vouchers

dailypoint™ is the leading Data Management and CRM platform for demanding individual hotels and hotel groups. dailypoint™ collects data from all relevant sources such as PMS, POS, website, newsletter or WiFi and automatically creates a central and consolidated guest profile.

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