RV park management is tough as it is, but you also have to figure out the best plan for growing your business. For business growth, you need to make data-backed decisions in the right direction. As Forbes says, “Becoming a data-driven company is a mind-shift.” Below, we’ll discuss how you can gain insight and make informed decisions with the support and tools found in the best RV park reservation software.
5 Data Management and Analysis Tips
A data-driven company has a plan for growth that relies on facts along with the tools needed to carry out decisions made to further the progress toward the goal. To analyze and manage your data effectively consider these tips:
Set Your Business Goals
Decisions should be geared towards meeting your business goal — which can only happen if you have a clear SMART goal in mind. To set an attainable goal, you need to know where you stand. That’s why your business growth strategy model must rely on data to help you identify your starting point for realistic growth expectations.
For example, if your goal is to increase bookings by 10%, you will need to refer to data within your RV park software to pull the number of reservations generated the previous year. You may also need to assess the effectiveness and ROI of your marketing campaigns to determine what's helping to achieve your company goal.
2. Know Your RV Park Reservation Software Data Storage and Analysis Tools
If applicable to your reservation system, the following software tools and features can help you gather, organize, and analyze your data:
- Internet Booking Engine (IBE)
- Dynamic Pricing
- Online payment integrations
An integrated cloud-based reservation system puts important data at your fingertips, allowing you to access both company and customer data from one platform.
3. Utilize the Internet Booking Engine (IBE)
For data analysis, you need to have it all in one place. Furthermore, your data must be up-to-date and accurate to ensure a solid foundation for gaining insight. An internet booking engine (IBE) streamlines the booking process across all channels — the website, OTAs, and front desk bookings — by showing real-time rates and open RV spaces. When someone makes a reservation across one of these channels, you’ll have this data so you can use it at your convenience.
4. Pull Your Data With Integrated Reporting
An all-in-one reservation system should have hundreds of pre-defined reports as well as an integrated reporting feature that allows you to pull data from multiple sources all from one platform. For example, you can view the status of a reservation from any device and pull reports for your different outdoor properties for comprehensive RV park management.
5. Custom-build Reports
When you need to make a decision that affects the future of your property, it’s crucial to have the exact data you need. That’s why the ability to custom-build reports is a must-have for making data-driven business decisions. Prime examples of reports you could build include:
- Booking rates for different seasons
- Customer review ratings
- Number of campers booking online vs. over the phone
These reports can help you adjust your goals and growth strategy. For example, if you see a pattern of low booking rates for a certain season, you can use dynamic pricing to automatically reduce rates until enough spaces are reserved.
Gain Insight With All-in-One RV Reservation Software
Making smart, data-driven decisions can help set your RV park up for success. RV reservation software provides the tools you need when you need them to drive your business forward. To discover more ways to help meet your outdoor property management goals, download our free Operational Excellence guide.