30 Jun 2017
Understanding the ROI of TRACK Pulse
When determining return on your SaaS investment, many property owners and revenue managers focus on how much revenue is being generated. While revenue is key performance indicator that certainly contributes to the success of your property, it’s important to be able to look further to see the benefits you’re receiving. With TRACK Pulse, businesses are able to see ROI in a variety of ways. We’ve broken down our “added ROI” for properties into the following four segments.
Data ROI if having a complete understanding as to what is happening in your business on a day-to-day basis. When thinking about Data ROI, consider the following questions that will help you drill down on your business performance: Are we missing calls? How many leads are we generating? What leads are converting? These are all questions that fall under Data ROI that TRACK Pulse aims to answer with enterprise-level reporting and business intelligence (BI).
It’s easy to find answers to these day-to-day questions using tools and reporting built within TRACK Pulse. Checking your Abandonment Rate Report allows you to understand when and why you may be missing calls. Your Res/Lead Rate allows you to easily understand how many leads you’re converting into reservations. Finally, your Conversion Rate will give you real-time information on which members of your Reservations Team are converting at the highest levels. The ability to track and measure the efficiency and effectiveness of your business and contact center allows you to make data driven decisions that will streamline your business.
Customer Delight ROI
A major focus of business in the hospitality industry is satisfying your customers, but there has never been a great way to measure this metric before. That’s where our Customer Delight ROI comes in. TRACK Pulse enables better human-to-human interactions throughout the entire buying process, so guests get a personal experience before, during, and after their stay.
Agents will have access to past conversations travelers have had with your property, and will be able to determine the an agent they’ve spoke to previously is available. If they are not available, a current agent can still take advantage of detailed notes from past conversations, and will be able to pick up the communication where the last agent left off. TRACK Pulse’s smart routing system also allows your Reservation Managers to connect travelers seamlessly with a familiar agent.
The power behind TRACK Pulse not only delights customers, but gives managers and agents the ability to score calls and listen in to make sure business standards are being met. Knowing your agents are following the right procedure gives you peace of mind that your prospective guests are receiving a phenomenal customer experience.
While providing a high level a customer satisfaction is paramount to any hospitality properties, the data you are obtaining from leads and prospective travelers can also be used to market and re-market to these individuals in the future. When you’re adding contacts to your database, you’re not only increasing direct bookings, but you’re decreasing marketing costs over time.
Every lead that your business comes in contact with has a value attached to them. With TRACK Pulse, it’s easy to find the relative value of a contact. By following an equation and utilizing your TRACK Pulse gives you, you can establish this value.
Voice Revenue/Reservations Calls = Value Per Reservations Call
There is also ROI in having a database full of potential and past guests. That is where we get into the last ROI category.
Now that you’ve established a large database with TRACK Pulse, you can use that information for follow-ups. On average 28% of leads will call back, that leaves 72% of your potential revenue untouched. How much is that costing you? By using tools within TRACK Pulse, your team can make a plan for following up with that 72%. Metrics like Call Accuracy, Call Scoring, Handle time and so much more can be measured within TRACK Pulse that will create follow-up revenue that you may not have even known about.
By understanding that ROI doesn’t just come down to your revenue, it’s clear to see the power of a tool like TRACK Pulse. By seeing these types of ROI, your business can continuously evolve to better serve your guests as well as streamline processes to make your agents more efficient. By doing all of the above with TRACK Pulse, you’ll see ROI across your business, not just in your revenue.