The travel industry is constantly evolving, and relying on a single booking channel can leave your business vulnerable to varying trends. FareHarbor’s channel mix fix strategy is designed to help operators understand their channel mix and confidently take control of filling seats.
Your channel mix represents the various ways you can receive bookings, such as direct online traffic, in-person sales, paid marketing initiatives, or affiliate partnerships.
Below you’ll find our step-by-step approach to mastering your channel mix and ensuring consistent and adaptable growth.
Step 1: Evaluate your current booking channels and define an ideal channel mix
Building a successful channel mix begins with clarity. Understanding where your bookings come from and setting actionable goals is the foundation for a robust strategy. Use the following tools to make determining these data points a breeze.
Tools to determine your current channel mix
- FareHarbor reporting: FareHarbor’s free and in-house reporting tools provide valuable insights into your booking trends. You can uncover which pathways you currently see the most traffic, whether that is direct online, OTAs or marketing channels, allowing you to identify strengths and gaps in your current mix.
- Google Analytics: Analyze traffic sources, audience behaviors, and conversion metrics to uncover how customers find and book with you.
Tools to set your target channel mix
- FareHarbor data insights: Regional and customer-specific data from FareHarbor helps operators benchmark performance and set attainable targets.
- Revenue goals and marketing budgets: Ensure your target channel mix aligns with overall revenue objectives and customer acquisition costs (CAC).
By gaining insight into your current mix and setting clear targets, you’ll be equipped to make informed, data-driven decisions that drive growth.
Step 2: Strengthen your offerings and focus on long-term business success
It’s no secret that having exceptional experiences will help your business thrive across all channels. Long-term investments in your tours and activities as well as your online presence are key.
Optimize your offerings across all channels:
Getting more traffic to your website is just the beginning, use these solutions to maximize your bookings and your average price per booking.
- Item descriptions and images: Highlight the unique value of your tours and activities with accurate, visually appealing descriptions and high-quality images. Showcase what makes your experiences special while still leaving some surprises for customers along the way.
- Content builder: Use FareHarbor’s content builder tool to easily create engaging, scannable listings that, on average, boost conversions by 7%. Use this improved structure and content to not only enhance the booking experience on your FareHarbor Lightframe, but also on your OTA connections.
- Maximize revenue per booking: Leverage features like dynamic pricing, combo deals, and upsells to seamlessly enhance profitability and boost average cart price.
Save time and streamline your in-person sales:
Incorporate these tools into your day-to-day operations to improve your walk-up experience, giving you and your staff more time to focus on other aspects of your business.
- FareHarbor Dock: Implement our booking point of sale to speed up walk up bookings, reduce long wait times, and improve your guest experience.
- Phone messages: Streamline customer interactions by directing phone calls to your website to make bookings easier while saving time for your staff.
- QR codes: Strategically place QR codes to convert foot traffic into online bookings, offering convenience for on-the-spot reservations.
Capture more quality traffic by fine-tuning your website:
A high-performing, tailored website along with excellent SEO will do wonders for your conversions.
- FareHarbor Sites: Boost bookings by 9.2% with a professional, high-converting FareHarbor Site designed specifically for tour and activity operators. You’ll enjoy many benefits with a website tailored to your specific business and keywords.
- SEO strategy: Implement a long-term SEO plan to boost organic visibility and attract more direct, high-intent traffic to your website.
Step 3: Use short-term marketing tactics to boost bookings quickly
By incorporating paid marketing strategies into your channel mix, you will see immediate results that keep your bookings steady during fluctuations in demand. Be sure to test different ads on various channels to uncover which options work best for your customers.
- Paid marketing: Execute targeted PPC campaigns, search ads, and display ads to capture high-intent customers when demand spikes.
- Traditional marketing: Reinforce your online efforts with local outreach, including flyers, radio spots, and print ads to engage nearby audiences.
- Social media marketing: Expand your reach to target audiences by running ads on your social media channels. Plus, this is a great way to showcase your incredible offerings.
Step 4: Supplement your bookings with strategic affiliate partnerships
Affiliate partnerships provide a valuable way to complement your direct and paid efforts, ensuring no opportunities are missed. Know that not all partnerships are made the same. Below you can explore a few types that offer different benefits and commission amounts.
Low-investment affiliate bookings:
These are types of partnerships that have lower commission costs, making less of an impact on your bottom line.
- FareHarbor Distribution Network (FHDN): Tap into FareHarbor’s robust affiliate network to increase sales without heavy upfront costs. Join the FHDN to have other operators fill your availabilities or even sell other businesses’ experiences to boost your revenue.
- Local partners: Collaborate with neighboring businesses to foster referrals, boosting bookings and strengthening your local ecosystem.
High-investment affiliate bookings:
These partnerships can carry a relatively higher commission cost, meaning less money in your pocket.
- OTAs: Leverage partnerships with major OTAs or local affiliates to get even more bookings. Note that these can come at a steep commission
Pro Tip: Affiliate relationships should supplement your demand, being used to fill seats you can’t typically fill with direct traffic. In busier times, you should rely more heavily on direct bookings to maximize earnings. Use FareHarbor’s affiliate rules to easily control when affiliates can and cannot book your tours.
Step 5: Adjust pricing to balance profitability and competitiveness
Dynamic pricing tailored to your channel mix enables you to balance profitability with competitiveness. Align your pricing with your revenue goals to ensure you remain attractive to customers while optimizing your margins.
Use the insights from your channel mix research as well as cost of acquisition to decide on the prices for your tours and activities. For instance, you can raise your prices for tours listed on OTAs, but offer a deal for those who book directly.
You also must consider how much you are spending on your marketing initiatives and OTA commissions when determining your proper pricing.
Step 6: Adapt your strategies to fluctuating demand with flexible levers
With a diversified and optimized channel mix, you gain the flexibility to adapt to market changes and demand fluctuations. These dynamic and responsive revenue streams empower you to maximize earnings year-round while maintaining control over your business strategies.
A few insider tips:
- When direct bookings are high: When demand is strong, reduce reliance on paid marketing and tighten affiliate rules to lower acquisition costs.
- When direct bookings are low: When demand slows, fill up your bookings by increasing short-term marketing efforts like PPC or display ads.You can also expand affiliate partnerships to ensure a steady flow of customers.
Why the channel mix fix strategy is so important
FareHarbor’s channel mix fix strategy empowers operators to confidently control their revenue streams. By understanding your channel mix, building a solid foundation, and leveraging both direct and affiliate channels strategically, your business will be well-positioned for sustained success.
Ready to take charge of your channel mix? Contact FareHarbor today and discover how our tools and insights can help you achieve your goals.