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Learn about how offering a promotion based on length of stay can benefit your bottom line.
Summary:
Discover how Campspot's Variable Rate Package Type can entice guests to book longer stays, amplifying your campground's revenue potential. In addition to features like Dynamic Pricing and Grid Optimization, our Package/Discounted Promo Code Pricing rule becomes a powerful tool for creating irresistible promotional offers, encouraging guests to increase length of stay directly contributing to increased revenue.
Crafting Irresistible Promotional Offers
- Dynamic Pricing Harmony: Combine the Variable rate with Dynamic Pricing for $ or % Rate Change to cleverly manage your Booking Window and attract extended bookings.
- Length of Stay (LOS) Incentives: Leverage the timeless retail strategy of offering LOS incentives, providing guests with a compelling reason to extend their stay and boosting overall guest spend for enhanced revenue.
- Strategic Use of Reports: Employ the "Sites with One-Night Gaps" report to identify opportunities and strategically close gaps in your campground's bookings, creating a significant impact on your bottom line.
Examples of Strategic Promotional Offers
- Summer Stay More & Save: Provide a 15% discount for bookings of 4 nights or more, enticing guests to enjoy an extended summer stay.
- Lodging Weekday Special: Boost weekday occupancy by offering a 20% discount for stays of 3 nights or more with check-in from Sunday to Thursday, creating a relaxing midweek escape.
Take a look at examples of how each of these would be set up using the Variable Rate Package Type:
Example 1
Strategy: Based on data from Campspot, my guests stay an average of 3 nights during the summer. I want to offer 15% off 4 or more nights if booked up to 30 days prior to arrival for my peak season.
Example 2
Strategy: My biggest days for Lodging Check Ins are on a Friday or Saturday. I want to increase Weekday occupancy but also want to spread out the heavy Check In days so it is not as hectic for my team. I will offer 20% off Sunday - Thursday for guests staying 3 or more nights with a check in date on Sunday - Thursday.
Q: How can I use Campspot to create revenue opportunities?
Campspot offers a range of powerful features designed to automatically boost your bottom line. While Dynamic Pricing, Locked Site Fees, and Grid Optimization enhance revenue, our Package/Discounted Promo Code Pricing rule serves as a dynamic tool to incentivize your guests, with a goal of creating new business.
Q: Are you saying I should discount in my peak season?
Depending on your strategy, offering discounts in peak seasons can be beneficial. By utilizing Dynamic Pricing alongside strategic discounting, you can creatively manage your Booking Window, optimize business, and incentivize guests to book longer stays, maximizing revenue.
Maybe your strategy is to offer your first In Season bookings a great deal while charging a premium the closer to arrival?
Q: Will Dynamic Pricing work with Package Rules?
Dynamic Pricing seamlessly integrates with Package Rules when using a Variable rate with $ or % Rate Change. However, if the rule involves a Fixed Rate or Rate Change with a specified dollar amount, Dynamic Pricing won't apply.
Q: Is offering a LOS Promotion a common practice?
Yes, offering Length of Stay (LOS) promotions is a common industry practice. Similar to retail strategies like "Buy 3, Get 1 Free," LOS promotions incentivize guests to extend their stays, increasing overall guest spend and benefiting your campground.
Q: How can I use the "Sites with One-Night Gaps" report to support my strategy?
The "Sites with One-Night Gaps" report identifies opportunities to strategically close gaps in your campground's bookings. For instance, if the report indicates 300 one-night gaps, implementing a strategy to close 50% of them at $50 per night could potentially add about $8,000 to your bottom line. Strategically planning promotions and incentives can effectively address and capitalize on these gaps.