Did Live Booking live up to the hype?

For years the facts supposedly have been clear: Live Booking is the only way event booking can go digital. Such is the widely held opinion. But how successful is Live Booking really?

Does Instant Booking save time for providers and increase the revenue for hotels and venues? Have the expectations of hotels and venues, those who have bet on Live Booking, been met or exceeded?

And most of all: Is Live Booking the process their customers want - and embrace enthusiastically?

Many hotels and venues have tested Live Booking platforms over the last years or have embedded widgets on their websites. Successes and key performance indicators differ a lot from case to case. Quantifiable results include:

  • real confirmed bookings
  • simplification of processes achieved
  • increased revenue & cost reduction realized
  • relevant new leads generated

It seems to make sense to step back and answer some simple questions from different perspectives.


Perspective #1: What do your clients want?

(as event planners and buyers)

No? That's normal.

More and more often events are booked short-term, and decisions are delayed. It is unlikely that an event planner confirms anything instantly. On top of that the inquiring contact and the decision-maker are rarely the same person.

Yes? Not unusual.

Clients want the exact event they have in mind - for a good price. To be able to compare they want a number of providers to send quotes in writing. In many cases internal regulations specify this procedure.

Yes? Perfectly fine.

Quotes have to exactly represent the event your client wants. A fast and accurate quote simplifies the decision-making processes. Rough calculations or general "first quotes" only cause more work on all sides.

Yes? There are many reasons for that.

Going digital does not mean turning your clients' processes inside out. Clients want to forward quotes internally and discuss within the team. In the vast majority of cases, PDF quotes are needed to create transparency, to meet internal compliance guidelines and to provide security for everyone.

Perspective #2: What do you want?

(as venue or hotel)

No? Hopefully not.

If all offer the same packages and services, the cheapest price that wins the business. Differentiate yourself online as individual and creative as you are. That's good for your brand - and for your revenue.

Yes? Good to hear.

Automated quotes unburden your sales team so they can focus on selling. A consistent MICE sales process covers everything: Small and simple events, but also big and more complex ones. All in one tool.

Yes? Makes sense.

Data records may be misleading. Sometimes you are short of a couple of hotel rooms, sometimes some resources are already optioned. In the end you’re better off deciding for yourself what should be be booked. And especially by whom.

Yes? Might be interesting.

A good MICE tool generates qualified new leads for your event business. It costs a lot of money to attract users to visit your website. Bounces stay invisible - non-binding quotes make anonymous users visible.


Comparison MICE Live Booking & Live Quoting

Events bought live vs. automated quoting

 

Live Booking

Buy now
 

Live Quoting

Get quote
"Buy now"-feature   
Easy to use   
MICE Revenue Management   
Flexible setup of individual
modules and sections
   
Detailed event planning online
incl. upselling and recommendations
   
Automated PDF quoting
incl. distribution
   
For sales teams and end users
suitable alike
   
Comprehensive ways to edit
all quotes and prices
   
Process control from event inquiry
to implementation
   
For all types and sizes of events
incl. smart event templates
   
Generation of qualified leads
independent of data quality
   

What's left after the hype?

Live Quoting - instant non-binding quotes - closes the gap between clients' expectations and the providers' needs.


Good to know!

Thanks to the internet event planners almost have unlimited possibilities to research alternatives. But the more options we have, the more undecided we feel - that's what psychologists call the "paradox of choice".

To win business, a supplier needs to offer a relevant service at the right point in time, rather than imposing a "Buy now"-button on the user.

"So while you might want to improve your conversion rate, resist the temptation to jump straight to the sale. Instead, focus on helping curious customers explore ideas and be inspired."

Source: think with Google | "3 ways the digital traveler is changing — and 3 ways marketers can keep up", February 2019


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