Data Travel: Insights-X, new opportunities to increase your bookings
Posted by Patricia Dominguez
Insights-X, TravelgateX’s BI tool, continues to evolve in order to enable clients and providers, connected to our B2B platform, to quickly discover how to increase their sales and revenues.
Through an extensive analysis of the bookings made through TravelgateX, Insights-X present a new reporting section, “Opportunities“, where opportunities for growth in the marketplace are provided.
The value is in what we cannot see
Buyers and sellers have the capacity to measure their sales in the destinations and markets of origin. However, they cannot identify or measure what they are missing: they ignore the potential they could reach through the platform. So, the question is, how much am I missing and how can I benefit from the connectivities to increase my volume of reservations?
Insights-X presents three fast ways for clients and suppliers to detect how to improve their sales:
- Growth through new markets of origin
- Expansion of inventory to new destinations
- New connections through the B2B platform
Next, we analyze in detail each one of them:
1. New markets, new opportunities
Insights-X provides data to analyze the markets of origin in which it is being sold. At the same time, it also provides data from other markets that demand those destinations through the platform. Thus, a supplier can easily detect potential markets where it is not selling yet.
In this example, the first column shows the provider’s data: destinations that have generated the highest income, L2Bs, and volume of reservations. By selecting a destination (zone), the second column will show the competitiveness of the supplier in the different markets of origin, and he will also see which markets have generated more sales in TravelgateX platform. In this way, he will identify potential markets to focus his sales on.
How to reach new markets?
The answer is in the new connections: potential customers (not connected yet) buying from those markets of origin where the opportunities have been identified. The third column indicates the number of potential clients, as well as the revenue and reservations, were generated in the period. In this way, the supplier has a vision of the potential offered by a particular market of origin towards their destinations.
2. Increase sales volume through new destinations
In this section, Insights-X shows how to increase the volume of reservations and revenue through existing markets of origin. The opportunity is in the new destinations.
The first column shows the markets of origin generates the bookings. This information is known by clients/suppliers, however, both are unaware of other destinations being demanded by their markets. The second column compares the demanded destinations through TravelgateX platform for the origin markets seen in the previous column.
How to reach those demanded destinations?
Following the example, the third column shows the number of potential clients that are not connected yet and are selling in those destinations. In addition, the potential (revenue and bookings ), as well as the look to booking (L2B), is also shown.
3. New connections, destinations, and markets
What are the best-selling destinations on TravelgateX platform? In this section, it is possible to identify the destinations that generate the largest volume of reservations on the platform and where it is not selling yet.
To start selling in those destinations that generate so much volume, it is possible to identify the markets of origin as well as the potential clients with whom you have not connected yet, the revenue and potential bookings that can be generated.
With this new reporting, Insights-X continues to provide transparency to the travel sector and facilitates the growth of business volume between clients and suppliers in those destinations/markets unknown until now.