Hotel Revenues Low? Say Hello to CRO
For decades, hotel marketers have used acronyms like Revpar, ADR and AOR to gauge the health of their business. These metrics have become the de facto benchmarks by which hotel owners, management and sales/marketing teams evaluate performance. But recently, a new acronym has emerged that directly impacts all the others… CRO, or “Conversion Rate Optimization.”
Innovative hotel groups and hotel management companies are using CRO across their web, call center and sales operations to rapidly distance themselves from their compsets.
What is CRO?
CRO was started by ecommerce companies like Amazon as a way to increase the percentage of website visitors that convert into customers. Travel industry giants like Expedia, TripAdvisor, Kayak and major hotel chains soon caught on, using CRO to increase the number of calls and visitors converting to actual bookings and revenue.
The benefits of CRO are obvious: as the cost of driving traffic to your website or call center increases, so does the importance of CONVERTING a higher percentage of your traffic.
Recently, an increasing number of hoteliers have expanded CRO practices beyond their websites to improve the conversion rate of their call centers and corporate/meetings sales teams as well.
(Read more at: Htrends.com)