A year ago, we first wrote about the power of occupancy-based bidding on the Koddi blog, and so today seems like the perfect day for a refresher on what occupancy-based bidding is and what has changed in the past year.
What is occupancy-based bidding?
Occupancy-based bidding is leveraging the occupancy data that you already own and the bidding tools available on metasearch publishers to shift your bids and budget to in-need markets and properties. This provides several benefits for suppliers such as:
More incremental bookings
Greater spend efficiency
Better support for property-level needs
While the process of factoring in occupancy data is highly complex, the Koddi platform makes it easy to identify where and when there is a need for more bookings and adjust the budget in response. Our algorithms weigh the need of the property against the opportunity, all while maintaining your budget constraints, and machine learning technology refines and improves the results over time.
We recently had the opportunity to share this innovation at HEDNA’s Global Distribution Conference in Austin. You can watch the full presentation by Brian Batts, Vice President of Client Services, in the video below.
What’s new with occupancy-based bidding?
Since we first started bidding with occupancy data more than a year ago, we’ve seen more metasearch publishers create tools and technology to support this bidding methodology. We’ve also seen even greater results from recent tests we’ve performed including conversion rates increasing by as much as 40% and bookings increasing up to 50%.
Recent updates to Google Hotel Ads which have added more flexibility for advertisers have also created more complexity for this type of bidding manipulation. Partnering with a technology partner like Koddi can remove all the manual work, so you can move on to the bigger picture. If you’d like to learn more about how the Koddi platform uses occupancy data to improve bidding, request a demo from our sales team.