Accommodation does not mean shelter only but has greater significance for movers and doers. The people who move for work, education and leisure require safer refuge in a foreign land. The quest for knowledge, searching for a job and expeditions makes you get displaced from your known habitat. Searching for a secure refuge and place of accommodation is quite difficult. The rent, safety, location factors and facilities are major areas that influence the decision of occupancy. This search has become easier with the technical advancement and wider availability of comparative sites. The price comparison and comments do not always meet your requirements.
The best route to find suitable solution for accommodation issues are social media platforms. Facebook, LinkedIn, Twitter, YouTube and Google Plus are providing detail information regarding accommodation as well as have turned up as a one-stop solution for the issue of accommodation. Social media provides platform of discussion, information and easier access to diverse choices of budget. Social media is the cost effective tool that allows hoteliers to engage their consumer and sell distinct packages. Similarly, the accommodation for student and corporate accommodation information is gaining consumer attention. Social media helps the accommodation industry in following manner-
Multi-Dimensional Linkage – Social media is the platform that can be accessed by any kind of internet user. International consumer can get details regarding various accommodations, price range and associated information. Facebook, Google Plus, Twitter helps in communication of the information and identify the need of the consumer. Corporate, education, leisure, travel, long-term stay, homestay are some of the mode of accommodation provided to the consumers. The areas and types can be communicated successfully through the social media. The pictorial depiction helps to convince consumers across the globe. International consumer can access and form linkage to the organization while the vice versa is also true. Development of network and association helps the organization to develop strong public relation as well as brand image. Social media helps the accommodation industry to get higher number of consumers upon which this industry depends primarily.
Cost Effective Consumer base Management– The process of social media usage is cost effective and profitable for the accommodation industry. The ‘like’ and referral marketing helps to gain new consumer while sustaining the present consumer base requires communicative efficacy. Social media provides the opportunity to communicate with the consumer and engage them to the social networking page through regular update. The survey analysis shows that 30% of the consumer surveyed promotes the brand they are engaged to. The consumers help in development of popularity of the brand.
Communicating Promotions and Offer – Promotions and offers are successfully communicated through the social media platform. The promotions and offers compete with different organizations of same industry. The sites like Trip Advisor and Clear trip facilitates consumer to gain easier access to the information as well as access list of available choices in the destination. The accommodation booking and payment has also been easier due to such websites. The linkage of these sites to social media has made consumer aware about the price range, offers and best possible choice for their selection. The pricing is competitive and psychological; this kind of price range is designed to attract consumers as well as increase profitability.
Social Network and Discussion Forum– Trust and safety are major aspect of accommodation industry. Consumer opinion helps in driving consumer interest and consumer engagement. The offers and promotions help to create interest. Discussion forum makes the accommodation provider understand need of the consumer and the issues they face. Their experiences and responses help the organization as well as consumer to gain insight regarding the services of the organization. The consumer views and ratings help the consumer to gain logical justification regarding their decision of occupancy.
ROI, Sales and Profit – The sale of packages through social media exhibited growth of affinity among the consumer. The consumer purchases online packages to avail the offers and cash back offers. This helps the accommodation industry to gain trust of the consumers though dictators and competitors create hindrances. Profitability of accommodation industry is highest due to growth of mid-market section and student accommodation market. Corporate accommodation has comparatively reduced and corporate travel has reflected reduction of around 18% over past year. Post-recession accommodation industry is collecting higher degree of profit from online package sales, mid-market expenditure increase and cross selling of packages through social media. The higher amount of referral, likes, discussion and traffic leads to better ranking as well as higher profitability.
Social media has exhibited advancement in technicality and accessibility. The law of six-degree separation has become an outdated theory due to the growth of social media. Social media is an open platform, facilitated accommodation industry in gaining increased profitability, occupancy, and survive adverse impact of recession. The projection regarding accommodation industry exhibits higher growth potential. The industrial growth of accommodation industry is associated to – increased rate of immigration, international business growth and educational migration increase.
Social media provides cost effective route to profit but adverse implication of online rivalry, lack of consumer response, negative feedback and lack of control on comments pose threat for the organization. There are organizations who failed to draw consumer despite of million dollar investment on social media. Social media management depends on content as consumption of contents makes the consumer gets attracted towards the organization. Accommodation industry depends on visual representation and trust of the consumer. Facebook, traveller’s blog, Twitter, YouTube and Instagram has provided hotel business 3.8% growth of occupancy rate. This has helped the organizations to grow their business and collect higher amount of profit. Accommodation industry depends on the aspect of visual treatment, perception of consumer, pricing, safety and available facilities. Millennial and closet consumer demands quality service as well as cost effective packages. This has made the accommodation industry utilize innovative ways of marketing, sales and promotion to make their business cost effective under volatile economic situation. The present market condition highlights wider possibilities in luxury segment as well. The accommodation industry requires elimination of negative aspects such as hacking, loss of data negative comments and rivalry for sustaining competitive success.