The hospitality industry spends billions of dollars every year driving traffic to their websites, yet 81%* of visitors leave before completing their booking. This presents the hotelier with two key challenges. How do you reduce the number of booking abandonments? If visitors do abandon, how do you get them back to your site to complete the transaction? Do what the OTA’s do. Implement a revenue recovery strategy utilizing several popular digital marketing tactics.
Studies show that one third of visitors to your website start a reservation but only 2% complete the booking. With the average hotel’s conversion rate around 2-3%, maximizing the conversion rate is critical. Also important, enticing that visitor to book direct, rather than with an OTA.
Do these statistics panic you? Well, the good news is that all is not lost. Studies also show that over 30% of customer’s reconsider booking the same day and over 50% within the same week. Sounds like an opportunity, right? Wondering what can you do to increase your website conversions and directly influence revenue and room nights for your property?
Website visitors abandon the reservation for multiple reasons. The good news is that, with a little automation and upfront planning you can develop a strategy that can recapture those who previously left.
It is interesting to note where those visitors left the transaction, as well. More than half abandon the transaction when shown the total price; almost a third abandon when they are asked for personal details and 21% when they are asked for payment details.