Vouchers as a valuable source of income: 7 tips on how to increase your cash flow

Vouchers as a valuable source of income: 7 tips on how to increase your cash flow

19 November 2020Kirsty Beasley

Especially in times of yet another lockdown shortly before Christmas, increasing wanderlust and hope for a prompt initiation of the COVID- vaccine, the advance sale of services via vouchers is becoming more and more popular.

The year is offering a full 365 days of occasions to bring joy to loved ones and a gift voucher is often considered the ideal solution. This can be a monetary voucher, a voucher for a weekend stay or a candlelight dinner in the hotel restaurant.

Due to the pandemic, hoteliers are struggling with income from reservations. This brings the attention to alternative solutions which expand the previous strategy and can compensate for losses in sales. And this exactly is where the potential of gift vouchers comes into play:

Additional income without much additional effort

As hotelier, you can easily offer vouchers via your direct booking channel: no physical contact is required to create and deliver a voucher. This means that increasing your direct sales through vouchers does not require any human resources on your part.

After ordering a voucher via Profitroom Suite, the payment is processed automatically by your payment provider and sent to your guest as a PDF by email. Of course a good old-fashioned paper voucher delivered by post is feasible just the same.

We have put together 7 helpful tips for you to help increase your direct sales utilising vouchers and the voucher module successfully:

Tip # 1: take your guests on board

Travelers are aware that the crisis hit the tourism industry particularly hard. Give loyal guests the opportunity to convert their existing booking into a voucher instead of cancelling it.

Using Profitroom Suite, your guests can easily convert their cancellation into a voucher themselves.

The functionality can also be used by your receptionists, when a guest cancels by phone or email. They can then access it via the following path: Profitroom Suite → Sales → Vouchers → Voucher instead of refund.

Tip # 2: incentivise by using promotions

Encourage potential guests with creative voucher campaigns. These could be limited time promo codes or a super special offer; a monetary price reduction or additional services that you offer your guests for when they purchase a voucher.

Tip # 3: get re-acquainted with your target group

Re-examine the needs of your target group:

  • Who is your target audience? Due to travel restrictions and corona-related restrictions, the target group has changed for many hoteliers, with the focus now increasingly being on local and regional visitors.
  • Which services on your hotel website is this target group interested in?
  • Which products should you offer accordingly in your voucher module?

Tip # 4: be creative

After redefining your target audience, adapt your offer and don’t just think about hotel stays and arrangements. Additional services such as a day spa with brunch, massages or a dinner can be of interest to your guests. But there is also some more room for some extra creative ideas to boost your voucher sales – how about a special offer for employees of local companies as consolation for the cancelled Christmas party?!

Tip # 5: highlight the advantages of flexible redeemability

Vouchers can usually be redeemed up to three years after purchase and for this reason are particularly flexible. This not only benefits you as hotelier, but also your guests, in the event that COVID-measures will be prolonged. Emphasize this advantage in your guest communications.

Tip # 6: use all possible marketing channels

During this time in particular, it is important that you maintain transparent, regular communication with (potential) guests. In addition to your website, you can also use your social media channels and newsletters to advertise your voucher campaigns.

Tip # 7: budget wisely

Selling vouchers will certainly bring you quick, short-term liquidity, which is urgently needed in times of lockdown. However, use this revenue wisely. Vouchers bought today will be redeemed at a later date. The redemption of a voucher at a later date brings additionally created value on site, but also costs as you generated sales in advance.

WIN-WIN through a diverse offering of vouchers

We hope you find our tips useful as inspiration for an alternative source of income. And don’t forget: for you, sales through vouchers are a possible way out of the crisis – for your guests, they are unforgettable moments with you as host.

We would be happy to advise you on any questions in relation to implementation and setup.

Book a free consultancy
to find out how we can help you increase your direct bookings.
The administrator of personal data is Profitroom SA, we will process the data provided by you in order to answer the request (Article 6 paragraph 1 letter f of the GDPR). (more)

* mandatory field