In the present day and age, there are many online agents available for properties to work with. Maximising your distribution and getting your property in front of the right customers can create amazing results for your business.
When I first started in the industry, Wotif.com was all the rage. Market dynamics were shifting from making bookings over the phone to utilising online sources. The new distribution platform changed the game and continued with a growth of more and more players in the same space.
Distribution is only one part of the revenue management equation. However, it is vital to ensure long term, sustained success. Revitalising your distribution channels can bring any property, new or old back to better booking health.
We interact with a lot of operators, including those who have been in the industry for many years and those who are the fresh faces leading us forward. Many of our conversations revolve around the distribution mix for their property and how best to serve the business long term. More often than not, properties connect with two online agents (I am sure you can guess which ones!) and the others are left by the wayside due to concerns about price parity, lack of support, and more…
Let me tell you, these other agents can be the best supporters of your business in the future. If you engage in open and honest conversations with them about your concerns, adopting a respectful, partnership-oriented approach, you’ll discover that these agents can significantly contribute to bookings for your property.
Working with a variety of distribution channels can ensure you are marketing your property to a diverse audience of potential customers. Each agent you work with has its own loyal following, of course there will be some that shop around but the best producing properties work with a range of suppliers.
A fantastic example of what distribution can achieve is exemplified by the recent success of the Saltburn movie (available on Amazon Prime). Over 20 years ago, Sophie Ellis-Bextor had her hit song ‘Murder on the dancefloor’ which was a smash hit at the time. Saltburn reintroduced this song to the world, and it has once again climbed the charts, peaking at number two, 20 years later after its initial release. The introduction of this song to a new distribution channel revitalised the product.
Now, how does this relate to your property? Well, think of it in exactly the same way. You must ensure that your property is visible on all the major platforms, yes. But it’s also important to ensure visibility on platforms that are experiencing growth, as these platforms can potentially bring in a different type of customer. Emerging platforms can bring a whole new opportunity for your business.
New platforms will continue to emerge and fade away as we have all witnessed throughout our time in the industry. Established existing platforms will continue to surge and decline in line with their overall brand marketing spending habits. It’s not always about picking a winner at the start of their journey; it’s about optimising your distribution to ensure visibility when customers are making booking decisions.
If you’re unsure about the best distribution mix or how to optimise this, the support team at your Property Management System or Channel Manager is the best place to start!