Optimizing Business Travel Accommodations Dashboard for Increased Reservations
"Discover how implementing a loyalty program within a tailored accommodation dashboard can boost reservations by 30%, attract 50 new business travelers companies within 6 months, and elevate mega accommodations revenue by 25% in a year. Explore the roadmap, metrics, and strategies for success."
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Presentation Transcript
Stay-N-Sleep Business Travelers Companies Dashboard
Our Goal We risk losing half our customers without a strong loyalty program, which can reduce churn costs and win back former customers
Persona Name Company X Job We are looking to find suitable accommodation for our business travels, and our choice will be based on different criteria depending on the specific needs of each trip. For example, sometimes we may require spacious conference rooms, while other times, we prioritize accommodations with a pleasant view and a quiet environment Facts Want to reserve it for more than a day Want +4 starts hotels Needing conference rooms
Validation Validate if the reservations by Business Travelers increased by 30% within first one year after launching the Dashboard. Experiment Dashboard including the following: 1. Create a list of employees. 2. Search for accommodations with many criteria. 3. Reserve accommodations (with discount) for the predefined list of employees. 4. Edit reservation. 5. Cancels reservation. 6. Reserve handcraft activities (with discount) for the predefined list of employees. 7. Employees trips reporting data (dates, activates, accommodation, how many days, costs). Features 1. 2. 3. Search for accommodations with many criteria. Reserve accommodations (with discount) for the predefined list of employees. Cancels reservation. MVP
Roadmap MVP: - Search for accommodations with many criteria. (3 working days) - Reserve accommodations (with discount) for the predefined list of employees. (8 working days) - Cancels reservations. (8 working days) Rest of functionality: - Create a list of employees. (3 working days) - Reserve handcraft activities for the predefined list of employees. (8 working days) - Edit reservations. (4 working days) - Employees trips reporting data (dates, activates, accommodation, how many days, costs). (10 working days)
Sprints for MVP Front-end Team Back-end Team 1. Build Search feature Build APIs 1. Build Onboarding Dashboard UI Sprint 1 2. 1. Build Reserve accommodations feature. Build Cancel reservations feature. Build APIs 1. Build reservation/cancela tion UI Integrate the APIs and test them 2. Sprint 2 2. 3.
Metrics & KPIs - Reservations by Business Travelers increased by 30% within first one year after launching the Dashboard. - 50 Business Travelers companies in the app in the first 6 months. (9,600$ each year per company!) - Revenue for mega accommodations increases by 25% within a year.
Message MAKE AN EASY & DISCOUNTED RESERVATION OF A PERFICT ACCOMODATION BASED ON YOUR OUN CRITERIA BY USING OUR NEW DASHBOARD
Go To Market Plan Company X Target Persons Reducing costs of losing Business Travelers Partnerships with companies Monetization Strategy Posts in LinkedIn about new Dashboard for the companies Strategic partnership with companies Marketing Strategy Reducing Customer Acquisition Cost (CAC) Campaign Effectiveness Account Manager for each segment of companies Customer Adoption New posts for greater segment 3 months after the initial launch 20% reduction in Business Travels churn 3mo after the launch Support & Maintenance
User Persona Business Travellers (Campany X) Touriests (Sam with his friends) Accomodations owner (Alex renting his property)
Persona: Name Company X Job We are looking to find suitable accommodation for our business travels, and our choice will be based on different criteria depending on the specific needs of each trip. For example, sometimes we may require spacious conference rooms, while other times, we prioritize accommodations with a pleasant view and a quiet environment Facts Want to reserve it for more than a day Want +4 starts hotels Needing conference rooms
User Interview Questions: Get to Know your User Tell me about yourself? What would say are some of your day-to-day concerns? I have many meetings and workshops needing from me to travel. I have many employees working remotely. Finding best accommodation that fits my criteria and my great number of employees for many days of reservation. Which features have you used in the past month? What are your top three strengths? Booking an accommodation. What tools do you use most on a typical day? Which activities consume most of their time? Finding the right accommodation for many days of reservation Searching for the next hotel that fits me. What types of topics are you interested in? How would you describe your behaviours? Very happy with the results I find with many details of the accomodations.
Hypothesis Statement User: Business Travelers from a Company X Need/Opportunity: Business travelers seek suitable accommodations for their trips, with criteria varying based on specific needs. This might include spacious conference rooms or, alternatively, accommodations with scenic views and tranquility. Solution: Implement a loyalty program for companies to streamline the accommodation reservation process, enabling them to customize their bookings and access a dashboard with precise employee trip data. Outcome: Increase the number of reservations from companies by 30% by simplifying the reservation process and boost the number of companies partnering with us by 20%. Reasoning/Assumptions: Many business travelers struggle to reserve accommodations that meet their criteria and allow for extended stays.
PRD - Overview We are risking of losing half of our customers by not making a new and solid loyalty program that helps reducing many costs of churn costumers and retaining churn costumers again. As we are aiming to create a loyalty program, we seek to maintain our current customer by proving them with many free features that allows them to do many stuffs, we now need to create a dashboard for business travelers as they have the greater revenue. We have many accommodations and many business travelers so that we need to connect them together for shared revenue and to make many and easy reservations. Users: By proving an easy to reserve dashboard to Business Travelers we are making the reservation easier and faster for them and making the accommodations owner gain more revenue from this many reservations. Business Travelers struggle by finding accommodations fits for their needs.
PRD Metrics: Validate if the reservations by Business Travelers increased by 30% within first one year after launching the Dashboard. Business Travelers companies increased in the app by 10% in the first 6 months. Revenue for mega accommodations increases by 15% within a year. Analysis: Based on data from a study here, the average duration of a business trip is 5 days, and a typical business traveler embarks on 6 trips annually. If a company sends a minimum of 4 business travelers for 6 trips each year, with a daily expenditure of $80 per person, we can calculate the potential annual revenue from a single company: (5 days * 80$ per night) * 6 trips * 4 travelers = 9,600$ each year per company!
PRD - Objectives Increase number of companies choosing our app to do reservations. Increase number of reservations for the mega accommodations. PRD - Success Metrics Validate if the reservations by Business Travelers increased by 30% within first one year after launching the Dashboard. 50 Business Travelers companies in the app in the first 6 months. Revenue for mega accommodations increases by 15% within a year.
PRD - Messaging MAKE AN EASY RESERVATION OF A PERFICT ACCOMODATION BASED ON YOUR OUN CRITERIA BY USING OUR NEW DASHBOARD. PRD - Timeline & Release Planning MVP with the following roadmap and estimated date Search for accommodations with many criteria. (3 working days) Reserve accommodations for the predefined list of employees. (8 working days) Cancels the reservations. (8 working days) Rest of functionality if the product succeeded: Create a list of employees. (3 working days) Reserve handcraft activities for the predefined list of employees. (8 working days) Employees trips reporting data (dates, activates, accommodation, how many days, costs). (10 working days)
PRD - Personas Business Travelers (Company X) Tourists (Sam with his friends) Accommodations owner (Alex renting his property) PRD - Scenarios Company X will access its dashboard. Search for an accommodation (specify the criteria and date and how many persons) Choose an accommodation. Reserve the accommodation.
PRD - Features In Create a list of employees. Search for accommodations with many criteria. Reserve accommodations for the predefined list of employees. Cancels the reservations. Reserve handcraft activities for the predefined list of employees. Employees trips reporting data (dates, activates, accommodation, how many days, costs). PRD - Features Out Integration with companies employers list systems Integrate the dashboards to companies systems.
PRD - Open Issues Study if we can scale to integrate with other companies systems in the future or not.
