"Source of business" refers to the channels through which a hotel's bookings arrive: direct bookings on the hotel's own website, by phone or by email, online travel agencies, travel agents and tour operators, corporate accounts, groups, referrals, and campaigns on social media or other online advertising. Understanding and analysing the source of business helps hotels optimise their marketing strategies, allocate resources effectively and depend less on commission-based channels. Guest messaging software such as chatlyn supports the direct channel: the AI answers guest questions on WhatsApp and webchat around the clock and points guests to the hotel's own booking engine.
What are the common sources of business for companies in the service industry?
Common sources of business for service industry companies include direct bookings, referrals, online channels, partnerships, and repeat customers.
How can businesses effectively track and analyse their sources of business?
Businesses can track and analyse their sources of business through various methods such as customer surveys, data analytics tools, tracking codes, and CRM systems. This allows them to identify which channels are most effective and allocate resources accordingly.
