Thursday, July 7, 2011

Optimising Revenue Through Social Media - By Sascha Hausmann, CEO, eRevMax

Social media is no longer just a hub of sharing activity between people, it has now become a platform for businesses to promote and sell their products. From Facebook, TripAdvisor, Twitter over to the “oldie” eBay these channels demand a new way of interacting with guests while also securing additional revenue and bookings.

The social media revolution has provided new ways of consumer communication, sharing information and being close to a community. While the industry still thought consumer reviews exploded quickly, the likes of Facebook, twitter and Groupon have taught us what pace customers can take when adopting new phenomena once provided with the right toolset.

Despite the burden being forced upon the travel industry, it has also delivered new opportunities for businesses to get involved in such interaction and yet again provide targeted audiences with adequate product.

Facebook (over 500 million active users), MySpace (44 million active US users) and Twitter (21 million active users) have significantly influenced the way people interact, what they trust, how they share their experiences and the advice they offer/receive to/from their ‘friends’. These consumer portals are now becoming powerful marketing and business tools that the hospitality industry needs to address in the upcoming years to avoid losing out on potential revenue avenues or aggressive branding opportunities. Although the latter only has an indirect impact on revenue, it can help to direct more traffic to the hotels own websites that in return provides for more profitable income.

TripAdvisor (34 million monthly visitors) originally caught hoteliers by surprise. It felt that almost within weeks hotels had to deal with negative “press” although the actual movement has been going on for years and was nothing new. In the meantime online guest review websites have taken off with nearly every OTA incorporating some form of guest feedback that’s visible to new customers. Today hoteliers have no choice – either interact positively with guest reviews or see the business suffer. Hotels that effectively manage their guest reviews, both good and bad, encourage more reviews, which as a result sees the rating of their properties rise. As more guest review websites incorporate booking options the impact that your position can have on your revenue is immense.

Read on further:
http://www.eyefortravel.com/news/europe/optimising-revenue-through-social-media

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1 comment :

  1. Yes Social media has something special for everyone. Whatever part of society you hold , you 'll definitely get help from the social media.

    Digital Media Consultant

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