Melinda Kennedy, Co-Founder and Director of SuperControl, explores avenues to optimise bookings for sustained success.
As self-caterers, we’re all striving towards one thing – a fully booked property, but how can you ensure you’re making the most of every booking coming your way? There are a number of tools and tactics at your disposal that enable you to get more value and revenue from every booking.
Implementing dynamic pricing and an upselling strategy can save you time, increase your revenue and make your properties stand out in the market. Right from when your guest discovers your property to the end of their holiday, there’s an opportunity to capitalise on the impact of their visit.
Through packing some punch with your pricing strategy and offering irresistible extras, you’ll find your business booming with high-value stays. So, let’s explore how you can add additional value to each of your bookings from pay to stay.
From pay…Dynamic Pricing
Before your guest even books your property, there’s an opportunity to optimise the value of their booking through dynamic pricing. Tools like Beyond Pricing are designed to enhance revenue and boost occupancy. Removing the fuss of manually pricing your properties by using real-time data and market insights, dynamic pricing saves you bucketloads of time that can be better spent focussing on your business.
At SuperControl, property owners who adopt Beyond Pricing see an average revenue increase of 17%. Fusing your self-catering experience with Beyond’s technology will ensure your properties are booked at the best price and at the best time. It continually updates your pricing using intelligent algorithms formulated by considering occupancy, demand, and events in your area. It does the groundwork for you, meaning you’ll be getting more value from each booking without lifting a finger.
Paula Irwin, owner of Decoy Country Cottages based in Boyne Valley, has shared how adopting Beyond’s technology has taken the guesswork out of pricing:
“While I had reservations about letting a computer decide the prices of my properties, I was pleasantly surprised at the opportunities to stay in control while making the most of the system. The option to set a minimum and maximum price is excellent and means I’m pairing Beyond’s intelligent algorithm with my own expectations; I still feel in control. The only difference is I don’t have the stress of manually pricing my properties!
“My average daily rate has increased by 45% when comparing my pricing and occupancy between 2019 and 2021. It’s incredible to think that Decoy Country Cottages has achieved such an uplift in income at a few clicks of a mouse, and best of all, it hasn’t affected the number of bookings we receive.”
To Stay…Booking Extras
Great news, you’ve got a booking! You now have the opportunity to drive more value from your guest’s visit. From pre-arrival to departure, you can utilise booking extras to entice your guest and make more revenue.
Offering booking extras presents a unique opportunity. It’s your chance to challenge your local competition and show the world just how special self-catering accommodation is. We’re not merely rent collectors; we’re dream-makers, showcasing the best of what our local area has to offer. From hampers on arrival to onsite salsa classes, you have the chance to make your guests’ stay even more incredible and, in turn, stand out from the market.
Timing is essential. The psychology of pricing will have a direct impact on whether your extras make it to the checkout. Guests will book your property having met their pre-agreed budget, and perhaps they’ll add some additional extras while checking out, but the build-up is where the magic happens.
Timing is everything. Mix and match your booking extras to different stages of the guest journey for an unforgettable experience. You could offer a welcome hamper ten days before arrival and extra logs two days after arrival.
Your guest will have two budgets in mind when booking your property – the one to cover the cost of their stay and a second spending pot; their fun spends! This budget is usually reserved for enjoyment only, such as sightseeing, meals and activities. To your guest, this is what will make their holiday really special.
Brainstorm the extra’s your business could offer. Consider local businesses you can collaborate with, key tourist spots and activities. How about a spot of yoga? Or perhaps, a local culinary experience?
The pre-arrival excitement offers you a significant opportunity to upsell. This is a crucial time to position your booking extras because the vision of your guest’s stay is still flawless. It’s not raining yet; the kids haven’t started fighting, and they haven’t left anything at home. You can add to this narrative by offering enticing extras to build anticipation and recommend suggestions of how your guest can use that second budget.
Your guest has arrived, and holiday mode has been well and truly activated. There’s now an opportunity to offer arrival upsells, onsite amenities, and local experiences. Take the self out of self-catering with hampers, treats and dining or provide functional upsells such as logs and barbecue charcoal.
Not only do booking extras drive more revenue, but they also deliver an unforgettable guest experience and more reviews, in turn making your property more bookable and perfectly positions you for repeat business.
Intrigued and would like to find out more about how SuperControl can help you to achieve booking brilliance?
Book a discovery call today and explore SuperControl’s intelligent system that enables you to analyse, optimise, manage and grow your business.
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