How MICE Demand Management Influences Your Hotel’s Revenue!

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How MICE Demand Management Influences Your Hotel’s Revenue!

The days of flooding sales with fruitless leads are gone. Today, every hotel professional in the industry needs to know the bottom line revenue they’re seeing, rather than just the number of leads the sales team responds to.

The hotel industry is truly dependent on identifying profitable customers by their propensity to book venues. However, the enormous industry means meeting planners always have a plethora of venue options to choose from. To ease the RFP process, meeting planners prefer sending theirs online all at once. Without a streamlined way of managing this huge RFP demand, it’s really difficult for hoteliers to prioritize and identify profitable proposals.

Unfortunately, hoteliers spend far too much time and energy drafting proposals, and as a result, lose other opportunities in the pipeline. Most hoteliers need one useful platform that can take care of their MICE business needs – from generating demand to managing it.

The need of the hour is a solution that can primarily address these top three pain points:

Effectively Prioritizing RFPs

There is a constant fear among hoteliers of missing out on business by not replying to RFPs quickly enough. Thankfully, solutions like Cvent’s Group Demand Management can help prioritize and evaluate these RFPs.

With the help of this simple yet effective scoring methodology, hotels and venues can evaluate any business lead and overcome the anxiety of losing profitable business.

Sending Competitive Bids

On average, planners usually receive 12 to 15 proposal bids. So creating a winning quote is always a time-consuming task for the Hoteliers. The need in the industry is to get that one platform, that provides the intelligence hotels want in order to send market competitive bids and make informed business decisions.

Managing Multiple Channels

More and more hotels have developed their websites that allow guests to book their property directly. However, these websites also offer huge business opportunities if deployed with a simple widget, which works as a hub and connects hoteliers with planners coming from different channels, all while keeping these demands centralized in one common platform.

Opportunely, today the Industry has Cvent’s Group Demand Management, which can take care of all this and much more, and offers a range of features that provide flexibility & enhanced efficiency to hoteliers.

About Cvent:

Cvent is the global meeting, event and travel technology leader. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase MICE business demand through targeted advertising and improve conversion through proprietary demand management and business intelligence solutions. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events.

On November 29, 2016, Cvent announced that it had been acquired by Vista Equity Partners. In addition, Cvent and Lanyon Solutions also announced the merger of their two companies, creating a global meeting, event and travel technology leader.

About Author: Sunny Arora – Product Marketing Manager
A Global Product Marketing veteran with a decade of Hospitality Industry experience.

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