Why Market Segmentation is Crucial to Your Revenue Strategy
Why Market Segmentation is so important and what aspects should be segmented
When thinking of all the bookings in your hotel, you want to know where your bookers are coming from, what there are willing to pay and how you can tackle some customer groups. With that in mind you will try to build up a kind of Market Segmentation which allows you an estimate of what your customers are willing to pay and where they come from and how you can influence them in order to maximize your results.
The most important reason why to do it is because selling your hotel correctly to the different segments and the right volume to the right segment is the most efficient way to increase revenue.
The pricing is an important factor for the Market Segmentation. When you look at the ADR of the different segments it helps you to build up your selling strategy.
How do you know which kind of contracts to make in the corporate segment without market segmentation? Wich kind of wholesale partners or conditions in the background?
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