Whether you offer senior living or student accommodation, serviced apartments or build to rent, short-stay or extended stay, it all boils down to sales. Every innovative living operator will follow a revenue strategy that suits specific conditions - be it city centre coliving or beachfront aparthotels. But no matter the market, having a streamlined booking process, providing responsive operations and delivering great customer experience will help boost conversion, retention and repeat custom. To provide all three, look no further than using a property management system (PMS).
Streamlined booking website = higher conversion
It doesn’t take a psychologist to see that cumbersome booking processes will inevitably decrease the conversion rate. It’s like walking away from a shop because of a long queue. The more touch points required, the more frustrated a customer becomes.
The solution is a simple, accessible booking portal on your website, which shows incredible photos, provides bespoke rates and enables guests to personalise their stay with added extras. What’s more, direct booking will cut your OTA commission costs - meaning you can offer conversion-enhancing discounts - and it gives you crucial customer info such as contact details and booking preferences. Most coliving or serviced apartment PMS provide booking websites as standard, but not all are the same: make sure yours is fully customisable to your site (i.e matches your branding), is SEO-friendly and works across smartphones, tablets and computers.
Efficient operations = higher loyalty and repeat custom
While an amazing location and jaw-dropping amenities might entice customers through the door the first time, it’s the smooth running of services and diligent management that will keep them coming back. Customers want to feel valued. This means providing an apartment where they can not only choose their own housekeeping rota, but their request is carried out promptly and professionally. Customers want control. This means logging maintenance issues, choosing the technician’s arrival time and receiving real-time updates on progress. Customers want simplicity. This means extending their stay via an app or communicating with management directly via a chatbot, which even has the option to auto-translate.
A coliving or serviced apartment PMS not only provides all of the above by streamlining operations, but also gathers vast amounts of data for analysing preferences and delivering improved guest experience. The result? A satisfied and loyal customer who’s likely to book again.
Great guest experience = higher retention
In our digital age, what does excellent guest experience look like? Previously, a smiling concierge, a welcome basket, fresh towels by the pool and a thank you email might have sufficed, but technology transformations have changed the rules of the game. Now, it’s about keyless check-in giving customers the freedom to arrive and leave when they want. It’s about an in-room app for guests to contact reception directly, order in-apartment services and control housekeeping. It’s about having the ability to book amenities, register for events, extend a stay and request dry cleaning pick up from a phone.
In short, guest experience is about personalisation and a serviced apartment or coliving PMS customises opportunities from pre-booking to post-checkout. For example, sending tailored quotes and pre-stay emails with local attractions, allowing guests to control housekeeping and maintenance, and issuing regular post-stay communications with loyalty discounts based on guest preferences.
All-in-one property management system
Overall, guests want simplicity, customisation, control and a seamless service. A coliving or serviced apartment property management system puts this at their fingertips. Looking for a property management system with all of the above features rolled into one easy-to-use software? Look no further than res:harmonics.