The entire industry of hospitality has evolved significantly over the last decade and continues to change at an accelerated pace today. This change has forced hotel owners and managers to rethink the way they do business because they need to stay relevant to their guests. If they don’t, competitors will steal away their customers by providing better services at more competitive prices. One of the most overlooked areas where hotels can win or lose in the battle with other competitors is in the area of digitization.
The Digital Advantage
Hotels have always been about customer service and convenience, but for some industry experts, that isn’t enough. When it comes to making a truly unique experience for customers and ensuring that your business stays profitable in today’s digital marketplace, you must think digitally. With more than 1 billion smartphones currently in use worldwide and over 3 billion people owning cell phones (source: Pew Research Center), you can bet your competitors are looking to create digital advantage. Here are three ways hotels can do just that
A Consistent Experience Across Channels
Each channel digital phone or in-person should be presented in a consistent manner to ensure that customers are getting an optimal experience regardless of which touchpoint they interact. This consistency is important for gaining customer trust and establishing brand equity.
Increased Customer Engagement
A recent study found that customer engagement increased by 23% when they were able to book their stay on a mobile device. Why? Well, a lot has to do with customers being empowered. Not only do they feel more in control of their trip when booking it themselves, but there’s also a sense of security knowing that it’s a one-click process for them to make any changes if necessary.
Maximize Marketing Opportunities
As a hotel business owner, you have to continually look for new ways to bring in customers. You must also figure out how to keep them there and maximize on your marketing opportunities. One thing you should never do is miss an opportunity because you were afraid or unsure about making your move. If someone can help you with another angle, take advantage of it! That’s what great businesses do. They grow and change as needed and learn from their missteps along the way.
Reduce Operating Costs
The process of digitization isn’t just about investing in new technology; it can also help you reduce operating costs. By digitizing your reservation management software, for example, you can automate manual processes and improve operational efficiency. As a result, your company may be able to operate more efficiently, even with fewer employees and smaller budgets.
Increase Revenue and Profits
You want to be making money. Obviously. If your business isn’t profitable, then it’s no longer a business; it’s a hobby. With that in mind, consider these three stats: 77% of US businesses fail in their first 5 years; 60% fail within 2 years, and only 10% make it past 25 years. In addition, 49% of all small businesses fail due to a lack of cash flow. So how do you avoid failure?
Technology has fundamentally changed the way we live and work; it’s become an integral part of our daily routine especially in business and hospitality. Nowadays, the hospitality industry depends on technology to provide customers with an overall experience that exceeds their expectations and to allow business owners to make informed decisions that benefit their bottom line.
Technology has fundamentally changed the way we live and work; Nowadays, the hospitality industry depends on technology to provide customers with an overall experience that exceeds their expectations and to allow business owners to make informed decisions that benefit their bottom line. Here are some of the benefits of digitizing your hotel business and how you can start taking advantage of them today.