Growing your tour and activity business is likely a high priority for you, and you probably spend a lot of time coming up with new and innovative marketing techniques to promote your products. Generating buzz about your brand is critical, but no marketing strategy is complete without a plan to measure booking growth.
Do you find yourself wondering, “How do I measure my booking growth?”
Here are a few metrics to help you get a better understanding of how much revenue you are generating at your tour and activity company:
Every time that you launch a new marketing campaign, you need to monitor the bookings that result from that campaign. This allows you to develop a better understanding of the amount of revenue that you generate for your business from each individual campaign. By tracking the revenue, you will learn which campaigns are more effective and which ones are not a worthwhile investment of your time and resources.
Your distribution strategy also plays a key role in your success as a tour and activity company. To hone your distribution strategy, you need to learn which channels drive the most bookings for your business. When you use a booking system that also has a channel manager, you can easily connect to new distribution partners and learn more about which channels drive the most growth at your tour and activity company. When you identify the most powerful channels, you can readjust your distribution strategy accordingly.
Upgrades and add-ons are an easy way to allow your guests to personalize their experience with your brand, but they also are a convenient way to generate more revenue for your business. You should take note of which upgrades and add-ons are purchased most frequently and identify how much additional revenue these options generate for your tour company. Continue to offer the most popular options, as this will benefit both you and your travelers.
When you track which bookings come from repeat customers and which come from new customers, you can develop a customer rewards program that increases engagement with your brand and promotes loyalty. Generally speaking, bookings from repeat customers are preferred because the cost of acquisition is much lower. By developing a rewards program, you will encourage repeat bookings that generate more revenue for your business. It’s one of the most cost-effective ways to increase revenue at your tour and activity company.
By using these metrics, you will begin to understand how you are earning your bookings and where the most revenue is coming from. When you evaluate the data that you have available, you can create more effective marketing strategies in the future.
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Image credit: Markus Spiske