Hotel Group Sales Blog

Optimizing Groups Sales, Revenue & Cost

Efficiency of your RFP pipeline

10. July 2015 Administrator Blog (0)

Sales Efficiency Series - Efficiency of your RFP pipeline


More than ever before, hotel sales teams are finding themsleves under RFP overload along with increasing demands on speed to market. How can they meet these competing demands? In today’s blog we look at how Insta Event Management eliminates RFP hell in three simple steps

 

Step 1 – Consolidate Leads


Insta Event Management consolidates leads from any lead sites that a hotel signs up for and displays all leads in one place, nicely tabulated with pertinent information like source, due date, dates of stay, rooms requested, etc. It supports independent lead generation sites, brand websites, and convention bureau sites for consolidation, eliminating the need for sales managers or a coordinator to visit multiple websites looking for leads.

Step 2 – Score Leads


Once the leads are consolidate, Insta Event Management scores them relative to each other for best fit and probability of conversion. Following are some of the factors used to determine which groups are best fit for the hotel and which have the highest probability of converting.

 

Best Fit


  1. Profitability
  2. Current group pace on requested dates vs. historic pace
  3. Space to room ratio requested vs. available
  4. Lead Time
  5. Group Size

Conversion Probability


  1. Rate requested vs. hotel’s current group rate
  2. Star rating if requested
  3. Is this a repeat customer?

Step 3 – Assign Leads


Once leads are consolidated and scored, they are assigned to different sales managers based on pre-set criteria like geography, market segment, group size, lead time, etc.


End Result 


These 3 steps help hotels in the following ways

  1. Increase sales efficiency and productivity by eliminating all manual tasks that are not associated with actually responding to an RFP
  2. Increases probability of conversion by responding to the best fit leaf with maximum probability of conversion first and gaining the first response advantage

 

Does your hotel need to streamline RFP management? Click here to request a free trial of Insta Event Management.

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