Revenue achievement has plateaued for several months across multiple revenue sources, including instant books, inquiry conversion, and extra services. There is a notable opportunity to enhance our inquiry conversion process, which is currently underutilized.
Problem
Stagnant Revenue Growth: Despite the implementation of Hermes reservation systems, expected improvements in revenue metrics have not materialized, indicating inefficiencies or gaps in the conversion process.
Underperforming Inquiry Conversion: As a critical revenue source, the inquiry conversion rate currently stands at 19%, which is below our target threshold. This rate indicates that potential revenue from inquiries is not being fully capitalized.
Presently, we face challenges in automating inquiries concerning the lowest price, discounts, and special rates. Even operational teams find themselves resorting to manual confirmation with the pricing team.
Such sluggish interactions are ill-suited to the fast-paced nature of inquiries. Prospective guests, when seeking accommodation, often reach out to multiple properties, favoring the one with the quickest response.
Solutions
Review and Enhance Hermes Reservation System: Conduct a thorough audit of the Hermes reservation system to identify and address integration issues or feature gaps that may be hindering performance.
Optimization of Conversion Funnels: Redesign the inquiry response process to shorten response times, personalize communication, and improve customer engagement.
GAIA should propose minimum price based on historical data
GAIA should asking for budget clarity
Make it partial escalation
Forward to slack channel ops-price-negotiation automatically
Description
Problem
Solutions
Measurement metrics
Current measurements:
Timeline
SLA