Four Pillars of Online Conversion – The Essentials
High Look-to-Book ratios impact system performance and the ability to deliver the right product at the right time. This paper introduces four key fundamentals with some practical insights and examples.
- Performance: Who is searching for what and which agents are the problem? To ensure your products are on page 1 of search results you need a mix of operational and business level information. Poor response times mean missed opportunities and lost revenues.
- Availability: Do you have the right inventory or capacity for your locations? To manage availability you need to constantly measure what you actually send back in your responses. Can the channels driving revenue be easily recognized from those that drive little value?
- Price: Do you have the insights to optimise channel management and pricing strategies in real-time? Data-driven insights help airlines, hotels and intermediaries optimise their pricing to deliver the right product to the right category of customer at the right time.
- Relevance: Are you using the context of the search to make your responses more relevant? Understanding the core characteristics and behaviours of customers enables more relevant products and offerings that better fit the search query. Increased relevance leads to higher conversion rates and more sales.