Transforming Hotel Sales: How Matrix Enhances B2B Sales Processes
I. Introduction
The hotel industry has changed dramatically in recent years. Traditional practices and processes have been replaced by advances in technology and software. One of the quick changing subsets is how the hotel sales process goes from lead to closed business. As the speed and method of sales processes change, we developed Matrix to assist in managing the sales process from start to finish. Leave behind old school ways of tracking leads such as paper notes, voicemails, or lost leads! Matrix is designed specifically for the hotel industry and will improve your hotel’s closing rate. Matrix by M1 Intel addresses the unique challenges of B2B sales processes in the hotel industry.
II. The Unique Challenges of B2B Sales in the Hotel Industry
The hotel sales process can start in many different ways which creates unique intricacies when following the process until the business is closed. Lead sources include: incoming phone calls, emails, text messages, 3rd party lead sources, etc. Managing these lead sources effectively is a new challenge for sales managers, coordinators, event planners, revenue managers, operations managers, etc.
Common challenges faced by hotel teams is managing the large volume of leads and data, coordinating with multiple stakeholders, and maintaining customer relationships. Traditional methods are no longer effective and negatively impact your success rate in closing new business. Customer Relationship Management systems, or CRMs, mostly focus on the B2C relationships and B2B relationships are often neglected.
III. How Matrix Enhances B2B Sales Processes
Matrix was designed with specific objectives in mind to enhance your hotel’s sales cycle and generate more revenue for your hotel while protecting and storing data. Matrix is equipped with a suite of specialized features designed to meet the unique demands of hotel B2B sales.
- Lead Management: Matrix offers a robust lead management system that enables sales teams to capture, organize, and prioritize leads efficiently. With customizable lead scoring and segmentation, hotel sales professionals can focus on high-potential opportunities, ensuring no lead falls through the cracks.
- Sales Pipeline Tracking: Our intuitive sales pipeline tracking tool provides a clear visual representation of the sales process from initial contact to deal closure. This feature allows sales teams to monitor progress, identify bottlenecks, and adjust strategies in real time, ensuring a smoother sales cycle and higher conversion rates.
- Custom Reporting: Matrix’s custom reporting capabilities offer in-depth insights into sales performance and trends. Users can create tailored reports to analyze metrics such as booking rates, revenue forecasts, and sales team productivity. These insights empower sales leadership to make data-driven decisions, optimize strategies, and achieve better outcomes.
Each of these features is tailored to address the specific challenges of hotel B2B sales. Whether it’s managing large volumes of data, coordinating with multiple stakeholders, or maintaining strong customer relationships, Matrix provides the tools necessary to enhance efficiency, drive revenue, and achieve sales success in the competitive hospitality industry.
We have seen many different methods used to take, track, and pass leads and opportunities within the hotel organization, varying from log books, emails, post-it notes, text messages, just to name a few. Matrix brings the benefit of combining all of this into one unified system for sales data management and sales cycle management.
By combining the sales process onto one platform, the entire team benefits from real-time data in making informed decisions. The platform also provides a dashboard to track your hotel’s sales analytics and provide actionable insights.
Automation and efficiency are top of mind when it comes to choosing the right Sales Management Platform for your hotel. For example, if you signed a 1 year local negotiated rate, Matrix can alert you when it comes time to renegotiate the rate again. There are many other examples of how Matrix can help you stay on top of your hotel’s opportunities and maximize revenues.
IV. Real-World Examples and Case Studies
There are many real world examples of how Matrix can enhance the sales cycle management of hotels.
- Example 1: A mid-sized hotel that has struggled with turnover in recent years has felt like their sales efforts haven’t produced a ROI. Once they implemented Matrix SMS for their sales and management team, they were able to build on previous efforts as well as follow the sales cycle from Lead to Close.
- Example 2: A mid-sized management company has struggled with follow through on their sales cycle. Another problem is that their sales teams were working in silos. After implementing Matrix SMS for their portfolio of hotels, they were able to follow their LNRs, RFPs, Group accounts, etc through the sales cycle and make sure they were making daily progress to putting the business on the books. Also hotels managed within close proximity were able to leverage data so they were working together to close business and maximize revenue.
V. The Competitive Advantage of Using Matrix
Traditional hotel CRM systems and other sales management tools leave a lot of be desired and are also very scarce. Matrix was developed by existing hotel owners to fill a structural hole in the current sales management arena. Your hotel can be up and running with very little effort and setup. Simplicity will help drive usage and adoption by your sales and operations teams. Industry specific design helps to stay of top of hotel nuances that other CRMs cannot address. Our product was designed to be brand agnostic, so dependencies on brand are out the door and efficiencies are easy to achieve.
VI. Conclusion
There are many benefits to adopting Matrix as one of your essential tools for your hotel. Track the sales process across departments, ownership, share resources within the portfolio, and stand out with your customer relationships.
I encourage you to reach out for a trial on our platform to see how you can drive your market penetration higher than it’s ever been. `