You may have already noticed that when making a hotel reservation, the prices for the same room may change depending on the day of the week, the month of the reservation or some special event.
The same goes for flight reservations, prices for the same service change according to various factors.
Well, this happens due to the management method used, Revenue fiji email list 91533 contact leads Management, and it is precisely about this technique that we are going to talk about in this post.
Today you will better understand what it is, how it works and why it is so important for some companies. In addition, you will discover what are the best practices of this resource that, when combined with Digital Marketing, can bring you excellent results.
Will you join us?
What is Revenue Management?
Revenue Management is a technique that emerged in the 1960s as a management tool for airline companies and is now used by various sectors, mostly related to tourism.
The secret of this technique is in selling a product or service to the right customer, at the best time, with the most convenient price and through the most appropriate channel.
And it is precisely the combination of all these elements that makes this method so appropriate for the sector.
To achieve this harmony of factors, it is necessary to perform a predictive analysis of the historical and current data of the product or service that will be marketed to obtain maximum benefit.
Why is Revenue Management so important in companies?
Revenue Management monitors the demand for the product or service that is for sale.
Let's look at an example of a hotel on a beautiful beach far from the city:
The highest occupancy rate will probably be during the summer months and even more so during the school holiday period. During this time when demand is higher, room prices will also be higher and even so, this is the period when the hotel will have its highest occupancy rate.
However, this season does not cover even a third of the year and the other months the price of the rooms will be lower than their average value, in order to try to attract another type of public: those who seek to rest breathing the sea breeze in a place with fewer people and less heat.
But Revenue Management is not just about that , as it is also necessary to discover how to reach each of these two very different audiences and what is the ideal means to reach each of them.
In this way, the hotel in our example will be able to have clients at any time of the year and thus organize the best way to avoid losses and be able to cover all its financial responsibilities.
