As Americans and foreigners alike begin to resume their travel plans, there has never been a better time to distinguish yourself from the competition in the field of travel and hospitality.
Our market research company recently reported that while 44% of respondents have not traveled domestically in the past 6 months, 75% plan to travel outside state lines within the next 6 months.
With so many types of market research available, guests have the ability to pick and choose where they stay based on the factors that matter most to them.
But how do you know what matters most to potential guests, and how can you improve the guest experience at your hotel?
That's where market research comes into play!
These four methods of market research are well suited for those in the hotel and hospitality industry. They are sure to bring you actionable insight that will help set you apart from the rest.
Market Research Option #1: Online Reputation Management
At some point in our lives, we’ve been told to be cautious about what we put on the internet because it can stay there forever.
But with Online Reputation Management (ORM), we like to think we have a trick up our sleeve to help put the online focus back on the good instead of the bad.
ORM involves pushing older, negative material lower in the search results by adding new, positive content to the world wide web.
It is not a one-and-done type of deal, however, but rather a process that you will have to continue over time. As older material begins to resurface at the top of search results, you’ll have to continue adding new content.
ORM is incredibly helpful when trying to direct potential customers away from those one or two pesky negative online reviews. Instead, let them see the positive things from previous guests!
Watch this 60-second video as our market research firm discusses reputation management in a little more detail.
Market Research Option #2: Feasibility Studies
If you’ve ever dined out, there is a good chance that you did some extensive research on where to go and what to eat. It’s best to be prepared, right?
That same logic applies when you’re deciding where, when, and how to construct your next hotel location.
A feasibility study is a market research methodology that allows developers to better understand the demographic, geographic, economic, and financial factors of the market. They are also often used to justify costs and investments.
Through a feasibility study, a market research company can help to answer questions surrounding market saturation, the demographic trends of the area, current and future local competition, and so much more.
With this data at your disposal, you’ll be better informed and equipped to make the right decisions surrounding where and when to build your next hotel location.
Market Research Option #3: Website User Experience
In the age of technology, websites are where potential guests get their first impression of your hotel. For context, each year over 148.3 million travel bookings are completed online.
With that said, the importance of having an easy-to-use, aesthetically pleasing website cannot be overstated.
Conducting a website user experience study will help you to better understand the most common pathways taken by visitors to your website, from the moment they land on your site to the time they click “Book.”
Throughout the study, you’ll be able to uncover barriers and pain points along the pathway to booking a room. You can even find out where potential guests call it quits, and leave the site altogether.
With the knowledge of where users are struggling on your website, you’ll be able to streamline the process and make the journey to booking a room that much easier for your potential guests.
Market Research Option #4: Guest Satisfaction Surveys
Ever had the urge to get feedback from a guest as they leave the hotel after their stay? With a guest satisfaction survey, you can do just that!
A straightforward, quantitative method of market research, guest satisfaction surveys aim to measure satisfaction levels with a variety of factors regarding a guest’s stay upon their departure from the hotel.
With this method of research, you can gauge guest satisfaction with some of the most common points in one’s stay, like the check-in process, room cleanliness, room service, and concierge services.
Guest satisfaction surveys are great tools for uncovering any pain points during a guest’s stay, allowing you to improve on any areas that may coe up frequently and capitalize on those improvements with future guests.
Drive Research is a national market research company specializing in the travel and tourism industry. Our team partners with hotels, airports, and community attractions across the country to deliver various market research studies.
To learn more about our services or how Drive Research can help, contact us today.
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Devan's love for learning serves him well as a market research professional. With two years of both quantitative and qualitative research in the healthcare space under his belt, he knows what it takes to answer some of the toughest market research questions.
Learn more about Devan, here.