We used to understand our source markets and their demand patterns well. That knowledge, combined with Rate Insight’s live competitor data, helped us form successful revenue strategies pre-pandemic.
However, once Covid-19 struck, everything changed. We no longer knew when to expect demand peaks or drops. And even our source market mix changed dramatically. That made forecasting demand and setting the optimal rates a big challenge.
As soon as we added Market Insight to our tech stack, this became a lot easier. Now, I can see demand trends emerge and adjust our strategies well in advance. On top of that, I use Rate Insight every day to monitor our compset and fine-tune our rates and positioning. This is how I’ve managed to navigate our new demand landscape and seize the revenue opportunities it presents.
"As soon as we added Market Insight to our tech stack, it became a lot easier to see demand trends emerge and adjust our strategies well in advance"
Having a solid tech stack that includes powerful BI tools is essential if you want to effectively navigate today’s changed, volatile demand landscapes. OTA Insight’s solutions help me monitor and understand our market’s fast-paced developments in real time. Since they provide competitor and forward-looking demand information in a well-organised format, I can skip the lengthy data collection and collation process. I reinvest this time in analysis and making well-informed pricing and distribution decisions.
"Market Insight’s accurate demand forecasts help our operations team ensure they always schedule the optimal number of staff."
Market Insight reveals how our individual source markets are behaving in real time. Now, I see where potential guests are searching for trips to Lisbon and which length of stay they’re interested in. This reveals promising markets and allows me to better target them with promotions and AdWords campaigns that reflect their current demand patterns. That way I can increase the return on my ad spend.
We also share this information with our external digital marketing team. It helps them work more effectively because they can base their content and marketing activities on accurate, real-time data.
"OTA Insight is much more than just a software provider. Each of their team members shows a personal interest in their clients’ success."
OTA Insight’s suite of BI tools is an investment with a very quick ROI. If you take advantage of the platform, you’ll always have access to live market and competitor information. This helps you make well-informed pricing and distribution decisions, better target your marketing and increase your overall revenue.