7 Ways to Prevent Survivorship Bias from Hurting Your Hotel’s Revenue:

Source and full article on: http://www.tambourine.com/blog/how-can-a-wwii-scientist-help-your-hotel-survive/

1. Stop Copying Successful Hotels

It’s easy to look at successful hotels and think their strategy can be replicated in your market. But also take time to consider the other properties that failed in that same location, especially within the same chain scale level. Find out what went wrong, instead of only focusing on what went right for the survivors.

2. Conduct Loss Analysis on Failed Group Business Bids

Hotels often focus their sales efforts on seeking repeat business from specific groups, their “best customers.” Then, they proudly proclaim their venue is a ‘favorite’ of medical meeting planners, for example. Or, that their business is made up of mostly annual tech conferences. Instead, ask why other groups haven’t booked your hotel? What other industries are you missing out on?

Whenever you lose a piece of group business, the sales person needs to ask the meeting planner, “What went wrong? Why didn’t our hotel win your event?” This simple move could dramatically alter your sales efforts, sending your sales numbers skyrocketing in the future.

3. Discover Which Companies are Visiting Your Hotel Site

You can find out if meeting planners are visiting your website, even if they don’t send a message or fill out an RFP. We at Tambourine (and many other firms) have the ability to identify inbound website visitors by company, enabling our clients’ sales teams to find out which companies are visiting your meetings and event pages. For example, you can find out if someone from Ford or Microsoft started clicking around on your site.

This now-warm lead can act like a trigger for the sales person on your team (in this case, the sales person who is in charge of the Pacific Northwest market since Microsoft is headquartered near Seattle) to reach out to the meeting planning department at that company.

4. Conduct User Testing

Don’t fall in the trap of assuming what customers think about your hotel website. The only way to know how potential guests are interacting with your website and booking engine is to engage random, unbiased users to test it. (Shameless Plug: As part of our hotel marketing services, we implement random user testing for clients, and even provide videotape footage of tester’s live feedback.)

5. Monitor Points of Abandonment

Use your analytics to find out where you start losing potential guests on your website. Do you lose them right on the homepage? Or, when they encounter inconsistency moving from your website to the booking engine? Fixing whatever the problem is means you’re helping more visitors ‘survive’ the purchase journey to book a room.

6. Add More Languages

Your hotel is a global product. Or, at least it could be if you allowed your website to ‘speak’ to global audiences. Right now, too many American hotels only use English on their website. So, what if a family from Spain wanted to book a stay? Or, a group of business people from Dubai? You may think your hotel only attracts American travelers (or that virtually everyone speaks English), but that is survivorship bias at work… you only see English-speaking guests! If your website is only written in English, then only English-speaking travelers book your hotel, which leads you to assume that only English speakers want to stay with you. Consider what adding other language translations could do to attract global travelers.

7. Don’t Put Your Marketing on Repeat

It may seem like a smart strategy to repeat what worked for you last year, but again, this is survivorship bias at work. It’s even smarter to figure out why certain marketing tactics and campaigns failed. Did you have enough resources? Did the campaigns have enough time to flourish? Or, did you back down and just grab the lowest hanging fruit (relying on OTAs)?

It’s vital to know about ALL of your hotel’s online visitors and potential customers – not just those who successfully booked. This gives you more insight into how potential guests and group business clients engage with your hotel in their research phase. Plus, it will help you identify what to fix and where to make improvements. Examining your losses and avoiding survivorship bias can be the pivotal move that will lead to quicker buying cycles and higher conversion rates.