Business growth

The Ultimate Business Growth Tool

Technology can play a huge role in helping marina owners and operators grow their business. The right technology can help them spot business opportunities, attract new customers, and measure the success of their business efforts.

Identify growth opportunities

Most marinas want to grow their business, but they don’t know where to start. Historical data is a good starting point. Growth does not necessarily mean a new location or expanding services. It can be as simple as identifying opportunities to increase revenue through savvy marketing.

Twin Creeks, on Lake Tims Ford in Tennessee, uses a marina management software platform from RMS North America to operate its facilities.

If a marina uses a reservation management system or any other system that tracks customer data, it already has a wealth of information about its customers. Analyzing this data can be key to uncovering growth opportunities. Many platforms, especially those that manage reservations, have robust reporting features that track peaks and lulls in performance and demand. Interactive dashboards allow operators to filter data by different variables such as length of stay, amount spent, party size, etc.

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Look for patterns that indicate high demand for a service and use that data to create unique offers around it. For example, if kayak rentals are a popular service, consider adding a free afternoon rental for stays of three days or more. If demand is slower in some months, consider adjusting rates to make them more attractive to customers and increase occupancy.

Catch old and new customers
Customers are the bread and butter of marina business, so any growth plan should involve them. Whether the focus is on improving the customer experience or stepping up marketing efforts to reach new eyes, there is technology that can help marinas achieve their customer goals.
The world is becoming increasingly digital, and that means customers are too.

This trend is unmistakable in the travel and hospitality industries, where the adoption of contactless technology has become widespread. Customers expect, and even prefer, digital options for services such as payment, reservation and even check-in. Meeting these digital preferences will soon become a standard for customer experience. Marina owners should invest in technology that can meet these requirements, such as a reservation management system with mobile compatibility, an online booking engine and other digital features.

Marketing is the best way to reach new customers and maintain relationships with existing customers. Yet, among all the other responsibilities of marina ownership, it can often be left on the back burner. Fortunately, the right technology can easily turn manual marketing efforts into manageable ones.

Marketing automation features can streamline marinas’ many customer communication channels into a single platform, putting everything from email to social media at your fingertips. Create personalized email campaigns by uploading the establishment’s customer database and creating email lists that can be filtered and segmented based on different factors such as age, location or age. previous stay. Some platforms even have text messaging functionality, allowing marinas to connect directly with customers, putting their business on the mind immediately.

measuring success
To prove success, it is important to measure growth. Use the reporting system and dashboard function of a reservation management system to consistently track the impact of new business. It may take a few months to see a change in ROI, but monitoring new tactics data provides insights for future improvement. For example, RMS North America provides marina companies with over 200 reporting options to review property performance through an integrated reservations management system.

With these reports, marinas can create and view multiple types of information, from occupancy percentage and front office reports to location-based weather updates and more. Having the ability to access this information makes it easier to track property data and allows property owners to make more informed, data-driven business decisions.

The technology that’s right for you
There is no shortage of technology to help run a business. As business grows, marina owners and operators may find themselves using multiple programs to track and manage their business. While it may be necessary for some things, like accounting or HR, consider selecting technology platforms that can perform more than one function and innovate regularly so the business can continue to grow.

For example, an RMS North America marina customer noted that it is important for a software vendor to offer new functionality and to be constantly looking to the future. When this particular client first connected with RMS, the software version was at 7.0, whereas the software is now above version 10 for this company.

Marinas should also consider the time required for employee training when evaluating technology partners. This same marina customer said the technology allowed him to easily train employees, meeting the needs of multiple departments with a single solution. This gave the marina manager greater confidence in the ability of employees to deliver a true resort experience, as any employee could make a reservation on the platform.

Ultimately, reservation management systems are a great tool for business growth because they are designed to support multiple functions with reservations at the center. This enables secondary functionality such as marketing automation and point of sale.