Hotels Exchange Billboard Effect for Bandwagon Effect
nSight Debuts New Online Benchmarking Report at 2015 Hotel Data Conference
NASHVILLE, TN – August 5, 2015 –nSight, the leader in online consumer shopping intelligence for hotels and destinations, officially introduces its new Hotel Online Traffic Report to industry leaders in travel marketing and revenue management for independent hotels, brands, management companies and ownership groups today at the Hotel Data Conference in Nashville. The “HOT Report” allows hotels to compare consumers who are searching and booking their hotel on third parties and consumers searching and booking their hotel website.
Since launching the report with a free 60-day trial last week, nSight has received over a hundred registration requests from hoteliers worldwide that want to get control of distribution channels and grow direct bookings. More than 60% of sign-ups are from North America, while Europe accounts for almost 30%.
Feedback from the first adopters indicates how eager the industry is to move business from third parties. “Hotels are losing the distribution battle because OTAs and other intermediaries are doing a better job connecting with consumers,” said Rich Maradik, founder at nSight. “Hotels see the HOT report as a way to leverage the ad power of OTAs to their advantage – OTAs make the investment and attract consumers to their sites, and then, the hotel can identify and market directly to their best opportunities.”
The billions that OTAs spend on advertising and marketing annually (almost 35% of their revenues) really matter. They buy more Gross Rating Points on television than all major hotel chains combined, and outspend all hotels on Search Engines and Digital Marketing as well. This phenomenon has eroded the loyalty consumers have with hotels while driving up hotel marketing costs as the industry struggles to compete.
By comparing online consumer shopping and booking behavior for a hotel on third-party sites with consumer behavior on that hotel’s website, the HOT Report delivers the ultimate target marketing recommendations. Hotels can focus on the exact markets where they are underperforming compared to the OTAs. As hotels grow their direct share, they increase ownership of the customer and take back control of the guest relationship.
“Owning the relationship builds guest loyalty, positive reviews, referrals and a higher life-long guest value,” explained Maradik. “It’s better than the promise of billboard effect because it gives hotels actionable data-driven insight on who to target to grow direct bookings.”
The HOT Report is part of the nSight for Hotels Solution, bringing search, booking and rate dynamics into one future view so marketing and revenue management can act together to improve performance. The full solution includes the SaaS interactive application, actionable reporting suite and robust Marketing Services.