Ancillary revenue refers to additional income generated by a business from services or products beyond its primary offerings. In the context of customer engagement platforms, such as chatlyn, ancillary revenue might include up-selling premium features or offering add-on services to clients. This additional revenue stream can contribute to chatlyn's overall profitability while enhancing its value proposition to customers.
What are examples of ancillary revenue in the hospitality industry?
Examples of ancillary revenue in the hospitality industry include fees for Wi-Fi access, room upgrades, parking, in-room dining, and spa services.
How can businesses maximise ancillary revenue?
Businesses can maximise ancillary revenue by offering enticing upsell opportunities, creating attractive package deals, implementing dynamic pricing strategies, and using data analytics to identify customer preferences and behaviour patterns.