Rethinking the group - five ways to innovate

Innovation hates routine. Creativity and constancy - they’re never going to be friends.

NB This is a viewpoint by Eddie Robb, managing director for Make it Social.

So if we're thinking about a step-change in revenue for our business, we need to make a choice. And in the growth potential game, only one can win.

Questions such as 'why do it that way?' and 'ok, so what needs to change?' can be helpful, but ultimately, in group bookings, innovation is key to staying ahead and being fit for the future.

We all know that in the group booking section of our sites there is money being left on the table. But how do we tap into it?

Here’s five thoughts around how to grab that revenue with both hands.

1: Love groups of all sizes.

Open your mind and untap the potential. By freeing yourself of norms about group sizes you could instantly access a profitable market that’s commonly ignored.

Group sizes ranging from two to eight people have the potential to convert quicker, with fewer decision makers leading to a greater likelihood of consensus and conclusion.

So by giving them the tools they need, catering for larger numbers of smaller groups may mean quick wins for your business.

What’s more, smaller groups have the potential to grow and could go viral. So by removing the fences around what makes a group a group you can open your business to increased revenue potential.

2: Innovate with GDSs

If you’re looking to grow your group bookings you want to create flexibility for your customers and that means finding new ways of working within existing systems.

Right now, the GDS limits the number of flights you can block-book to a maximum of nine per entry. Plug in a group booking platform that allows individual members to book and pay separately via a specialist API, connected directly to an airline’s live data feed. and the only limit you’ll face is the number of free seats on the plane.

3: Empower your groups

This is all about reducing costs and increasing conversion rates for your business.

One of the biggest reasons for a failed group booking is the back and forth between the agent, the group leader and the group members. As a result, a huge amount of friction can be created simply trying to move from A to B.

By using a social group booking platform you can empower group members to take charge of the successful completion of the sale, freeing your agents to manage more bookings, thus increasing efficencies and profit.

A smart booking plugin that also features automated e-prompts can further motivate groups towards completion, creating the potential for sales to conclude with minimal energy from your agent.

4: Get to know Generations X, Y, and Z

Understanding your customers and meeting their needs can also be a real quick win.

The historic model of 'travel agent as king' fails to meet not only the interests and needs of ‘Generation Easyjet’ but also an increasing number of ‘silver surfers’ too.

With some 27.4 million adults 55+ using social media to communicate and around $7 billion spent online annually by adults aged 50+, people of all ages want to retain autonomy in a social online secure environment when planning and spending.

So by offering a social online booking environment where group members can come together to organise, agree and pay securely, you can provide the group with autonomy and an authentic social experience that harnesses the impulsive nature of this ever impatient tech savvy consumer.

5: Nurture self-payment

It’s simple - make group payment easy for your customers.

By allowing your customers to pay separately through a secure social group booking portal you can avoid the pain points associated with group payment, while capturing all revenue and avoiding drop-outs. You know - where one member of the group has to pay out for the rest, and then your booking of 10 suddenly dwindles to 7 and top-up payments are required?

Because social group booking is self-motivating, the transparency created by a group booking portal allows each member to see who has or hasn’t paid. This drives momentum towards completion and you only confirm the booking for those who have paid or once you receive enough money to commit the entire group.

So by embracing new ways to see group bookings you can begin to innovate in this most familiar space. The result? Innovation, efficencies, customer satisfaction, business growth and increased profits for your business.