1. Yield manage further out “A lot of success rests on understanding demand at the right level, from both the customers’ segment perspective and the channel perspective,” said Tim Hart, TravelClick’s executive VP of business solutions. The problem is too many revenue managers take a short-sighted approach. Yes, the immediate booking window might take priority, but attention also must be paid to sudden upticks in demand three, six or 12 months down the road, he said. “There’s far too short a horizon of when people should be managing their rates and availability, not getting out in front enough or looking further out when early customer demand starts to materialize,” Hart said. “And perhaps missing opportunities to capture customers earlier in the booking cycle, or capturing too many of them at the wrong products or the wrong rates.” John Hach, senior VP of global product management of TravelClick, said it helps to look at comp set lead times to formulate campaigns and promotions. 2. Work closely with sales Speaking of campaigns and promotions, Hach said revenue managers and their colleagues in sales and marketing still tend to work in silos. TravelClick sees this a lot working with clients, he explained. A property’s sales team might want an aggressive promotion, regardless of whether there’s actually enough inventory to support it. Maintaining an open channel of communication helps to flag those issues to make sure the entire organization is in alignment working toward a common goal. Get the full story at TravelClick