How Small Transactions Add Up to Increased Revenue and Better Guest Experience

Learn how targeted promotions and upgrade opportunities can give guests a more personalized experience while setting hoteliers up for a substantial ROI.

In the world of online gaming, “microtransactions” are available in-game purchases that only cost a small amount of money. They can range from buying a new outfit for a character, to extra lives, to additional levels or upgrades. The hospitality industry can take a digital page out of the online gaming playbook and utilize a similar strategy to allow guests to customize their stay while opening new avenues for additional revenue.

Seize Every Opportunity to Offer an Upgrade

With the rise of mobile check-in and mobile key, offering upgrades is easier than ever. When guests pull out their phone to check-in, why not give them an opportunity to upgrade to a room with a better view or larger suite? They might not even realize they want the upgrade until the option pops up on their screen. Recently, we wrote about how cloud-based property management systems are more versatile than on-premise systems; cloud-based PMS have the flexibility to make quick guest updates without loading the staff with additional work.

When guests order food via smart-room table or mobile app, don’t miss out on those tiny upgrades. Make sure to offer extra cheese, or a side, or a beverage via the app. Mobile delivery companies like Doordash and UberEats already have this integrated into their ordering strategy—hotels with in-app dining should too.

Create Intentional Promotions

With events and conferences continuing to ramp back up, a great way to capitalize on larger groups staying at your property is to center promotions around upcoming events. Banners, information pages, videos, even interactive chats can assist in promoting your unique amenities and engage your guests. If a businessperson comes back to their room after attending a full day conference, send them a customized message with a discount to a spa treatment or a cocktail at the bar. When groups of guests come to town for a concert or sporting event, tie your promotions to that specific event. Intentional promotions encourage smaller purchases and provide added revenue.

Consider the Future of Incremental Transactions

Speaking of customization, when thinking about “microtransactions” in hospitality it’s important to take into account the future of incremental transaction technology. Specifically, data. With current smart-room and hotel mobile apps, data can be collected from each guest. Maintaining historical data on guests can also help you customize offers and upgrades to guests who have requested special services or upgrades in previous visits.

When it comes to personalized guest experience, you don’t want to get left behind. So what can you do? Here are two places to start: 1) Invest in a platform that integrates well with new tech so you can continue to build your tech stacks without having to backtrack and 2) Make sure your guests’ preferences aren’t ignored, and use their data to offer a unique personalized experience.

Little Purchases, Big Return

Whether it’s a bigger room or a cup of soup, smaller transactions can add up to huge revenue increases. Something as simple as a fun promotion themed around a  big sporting event or a convention can have a ROI far higher than expected. Seek out opportunities for smaller transactions, be intentional, and look to the future. “Microtransactions” are here to stay—and here to make you more money.

Want to know more about how to utilize small transactions to increase revenue now and in the future? Let’s start a conversation.

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