The Relationship Between Social Media & Revenue Management

Social Media, a concept that we are all too familiar with, has evolved immensely over the last few years and it shows no sign of slowing down. With countless social platforms available at our disposal, we’re able to connect and share information with the person sitting next to us whilst simultaneously engaging and collaborating with our followers all around the world! Social media has most definitely proposed multiple benefits for businesses, yet the true power of social platforms is often underestimated.

The ability to act as a distribution tool, revenue driver and a revenue management tool are elements of Social Media that are often overlooked.

Social Media has pretty much become a way of life which really is no surprise considering that a vast majority of the world’s population is active on some form of social platform.

But what does this mean for your property?

Its customary that once guests have settled in at a hotel or restaurant, they ‘check-in’ on social media to let the world know where they are, who they’re with and what they’re doing. For your establishment, this means you have an already captive audience comprising of both the guests that have just ‘checked-in’ as well as all their followers who now know that they’ve checked into your establishment! If one is able to reach viewers this easily by merely having a social media presence, imagine the benefits and reach potential that come along with having an effective social media marketing strategy!

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