The ultimate virtual marketplace/trade show platform for hotels

Part one.

For the hospitality sector, Covid-19’s severe impact on every business sector is much publicized, and in many countries it is worsening by the day. ‘So what is the way forward for the hotel industry?’ many are rightfully asking. While waiting for the international travel market to reopen, many hotels are now refocusing on the domestic market, and also rethinking their strategies.

Most hotels should then consider diversifying more and keeping a domestic target market mix as part of their long-term strategy. The value of domestic business is going up, and will remain as such for a long period of time. Many hotels are also considering or already offering long-term rates to attract the domestic market, partly as long-stay residents.

Novel thinking is also required in how to reach customer segments, including increased use of virtual and enhanced online marketing and sales efforts as a necessity. Like most other sectors it is now forced to also adapt, in how to reach their prospects and customers - be it B2C or B2B.

So let’s see the positive coming out of the negative: that each hotel is now becoming much more aware how dependent it has become on external providers of a market, a supply of customers, to fill up the room nights. Hotels rely to a large extent on OTA’s rather than doing everything they could to build up their own customer base and supply of returning guests. They can now utilise this downtime to look at alternatives for their longer term strategy.

With much lower booking volume it becomes crucial for every hotel to significantly increase direct bookings. Then, digital marketplaces and tools become highly import – as do promotional campaigns with customised packages, to draw in bookings. At the same time more guests are concerned about where they choose to stay based on overall quality and other Covid-19-related issues.

With such a scenario it is more beneficial not least for the guests if the hotel can be contacted virtually, to perhaps get a live tour and answers to their concerns and any other details where the hotel can help out in building confidence towards them about the hotel as well as the destination. And there is a need for hotel management to be able to interact as much as possible towards consumers. So, how about hiring a team that is confident to become your online video sales provider, and not only B2B but also B2C? This can help in keeping your previous representative network alive, but also build new connections and partnerships. How about adding an option to click and book a live video tour on the hotel’s own website?

Hotels and hotel groups to a large extent have to resort to using virtual solutions for such efforts, since there are big limitations on physical trade shows, road shows and conducting international travel, Sales partners are to a large extent unable to come and inspect and experience particular hotels and destinations of interest. Buyers and sellers worldwide are facing obstacles in terms of the cancellations or postponement of physical trade shows (now being replaced by hybrid- or entirely virtual trade events.

This prompts the hospitality industry, like all others, to try out new things that can contribute to regained and better business, and in many cases can be the solution that helps hotels to survive!. Virtual events for hotels to sell room nights is a new opportunity for hotels that have lacked the infrastructure and sales team to join physical events, either due to size or location. These will be a booster in terms of finding and attracting new markets virtually, including connecting with events in destinations that were not considered in the past. Inevitably, doing so will also lead to improvements in building sustainable business models based on the use of optimal ways to draw in bookings (room nights, MICE, dinner events etc.)

Virtual marketplace as solution

So, let’s look closely at the virtual possibilities and what an online marketplace should deliver! Some companies are taking their shows online with virtual events by streaming from their headquarters, or indeed directly from their hotel, to reach customers. To give an example many hotels often use unannounced Facebook Live broadcasts, for their online sales campaigns, in attempts to randomly reach their followers . Typically staff then–on site or remotely–explain the promotion and display a number to call in order to make a reservation for the particular campaign.

Hotels should consider joining more destination marketing efforts together with other nearby properties (to fend off other online travel agents). They can do so in a format that actually gives maximum benefit for both the hotels and their customers, and where the purchase can take place with digital direct payment.

Via a virtual marketplace they can meet, instantly or per appointment, and the hotel representative can not only offer details on say a “secret deal” but also do up-selling, based on what interests and specifics that can be learned about the prospect during a live conversation! And the prospect can get immediate response.

And this marketplace can be customised to your brand and go live on certain days or at certain times days. It can of course also be a way to build leads and a larger database of guests.

A virtual marketplace as a tool to get ongoing direct sales

If you have paid attention so far we have good news for you! Because such a solution is now available, allowing you access to a virtual platform for guest/lead acquisition, and hosting your own virtual or hybrid events!

For hotels and hotel groups that normally join physical trade fairs, or arrange their own road shows or sales events, a virtual platform can either be a solution to arrange what would, with an ongoing coronavirus outbreak, otherwise not be possible. It can also function as an addition for any business wishing to attend remotely.

You can, with your hotel group’s flagship brand, invite hotels from the portfolio to your very own hotel trade show, where each independent hotel gets its own virtual booth, and can have multiple one-on-one customer meetings with customers as well as host virtual presentations.

Furthermore, beyond physical (often just annual or bi-annual) events that lasts for one or two days, a virtual event/marketplace can have as many live days as you’d like, and where communication is organic, ongoing. Then, you can leave it “open” for 30, 60, 90 days or permanently so that partners and consumers can access booths, presentations, documents, videos, etc. anytime. The advantage is to hold many short promotions virtually and build urgency, with dynamic deals, while facebook is more of a 365/24/7 providing less urgency... And not only can this be ‘live’ as many days you want; you can also reach/focus on more destinations without having to be there physically. And you can have your own virtual booking channel!

Your hotel (s) can be available like this – and be accessible virtually at the frequency of your choice; for instance based on daily opening hours. Anyone with any queries can converse virtually with a representative and get answers to any questions – be it Covid-19-related, weddings, in-destination experiences and packages etc.

In detail what you will want to have is a platform that can deliver the following:

• A complete real-time trade show feeling and branding so the entire workflow features and design can fully substitute a physical exhibition and convention – at lower cost, lower to no risk, but with higher ROI.
• A highly customisable booth that features downloadable brochures, audiovisual presentation and video chat functionality etc.
• Ability to present dynamic deals, for instant gratification.
• Attendees can swap electronic business cards with a keystroke and save that data instantly in your database.
• Built for scalability: it allows for unlimited simultaneous events, unlimited exhibition booths and unlimited same time visitors.
• Visitors can join events and browse booths inside an event with the click of a button.
• Built-in chat with request-to-talk features and waiting lists functions (option to join the waiting list, so that the visitor can continue browse other booths while waiting, or schedule an appointment)
• A social media structure, allowing users to create their profile, bio and to follow businesses and users.
• All users can easily set up their profile, while event organizers can set the requirements for the type of visitors and companies to join the event.
• Enable virtual face-to-face meetings: visitors and business partners can easily connect and network at the exhibitor’s booth, just like in a physical event.
• During high traffic times the guests can click to stand in live via a real-time virtual queue system, to talk with the sales and management.
• Each exhibitor can have several users (team members) waiting virtually to serve visitors.
• A concierge service to connect relevant visitors and exhibitors in one-to-one video meetings.
• Statistics: post-event a comprehensive overview and the right data to understand the impact and ROI of your event.
• Opens the door for organisers and conventions halls to get more eyeballs, with the potential to reach a global audience (who can attend virtually from other places and countries, without having to drive far or fly in).

With a platform like this it will also be easier for hotels to remotely reach their guests virtually and to attend a branded group event virtually. They can also join last minute with much less advance planning required. As added value hotels can arrange more events virtually than physically. In the virtual world there is also unlimited space available.

Enter the world of Expobo’s Virtual Trade Show, a social platform, designed for travel and hospitality! Continue to part two, Expobo’s Virtual Trade Show Platform, to learn about fascinating details and to get further food for thought!