Monthly KPI Review and Strategy Report for SIB101FC Assessment 2A

This report presents a monthly KPI review for a hotel business, analyzing key performance indicators such as inquiries, bookings, conversion rates, room nights, and total transaction value. The report identifies strengths, including the use of technology and a large staff, and areas for improvement, such as low booking inquiries and a decreasing conversion rate. Strategies for improvement include aggressive social media marketing, low pricing strategies, and the adoption of renewable energy sources. The report also outlines skill development, attitude/behavior, and effort/motivation goals, along with items for further discussion with the team leader, such as cost reduction, sustainable practices, and customer loyalty enhancement. The overall goal is to increase bookings and revenue by implementing effective marketing and operational strategies.

Assessment 2A Resource
Subject Code and Title SIB101FC Succeeding in Business
Summative or Formative Summative
Summative Assessment Number 2A
Description Monthly KPI Review Template
Instructions for students Please refer to the instructions for Assessment 2A: Key
Performance Indicators (KPIs)
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Monthly KPI Review Template
Month in Review:
Goal Actual Variance
Enquiries Taken 440 325 115
Bookings Made 374 210 164
Conversion Rate (Enquiries :
Bookings) 85% 69% 16%
Room Nights Booked 935 820 115
Average Nights per Booking 2.5 3.9 1.4
Total Transaction Value (TTV) $233,750 $120000 $113750
TTV per Booking $625 $571 $54
TTV per Night $250 $146 $104
Areas of strength throughout the month: Areas of improvement required:
1. In context to travel and tourism industry,
the higher number of staff members is seen
as the major strength of the industry. This
provides the strength In terms of higher
satisfaction of customer wants in the most
effective manner.
2. In relation to travel and toruism industry,
the increase in the use of innovative
technologies in term of customer bookings
and in other hotel operations is seen as the
major strength for the higher growth of
hotels within the hotel industry. It has also
allowed the hotels to make faster solutions to
the problems made by customers.
1. It can be seen that the booking enquires
is low as compared to goal set. In order
to increase the volume of bookings, the
hotels should make effective of social
medial platforms by posting immersive
and creative posts in order to attract
large number of customers. This can
allow the hotel businesses to know the
demands raised by customers in most
effective manner.
2. It can be analysed from the above data
that conversion rate percentage is also
decreasing. In order to improve it, the
hotel business should improve the
business processes by making it more
customer friendly . In addition to this, it
is also compulsory for the business to
take advantage of newer technologies
that is invented for the purpose of
increasing customer satisfaction level so
that customer can come to the hotels
regularly.
NEXT MONTH
Enquiry Target 400 Room Night Target 980
Booking Target 380 Nights per booking Target 2.5
Booking Conversion Rate 90% TTV Target $250000
Strategies for success
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Each strategy should be a min. of 75 words and include a min. of one (1) credible resource.
Strategy #1 In order to reach the above stated target, the hotel industry will run
aggressive marketing strategy for targeting the large number of
customers. The industry will put more focus on use of social media
platforms such as Yotube, Instagram and many more. This will allow
the organisation to meet with the future targets in the most
effective and efficient manner.
KPI Measurement / Goal The hotel industry will use the social enagagement and social
referral traffic KP’'s for tracking the social media performance.
Weekly action required The hotel industry will make effective use of social media platforms
by creating creative and immersive social media accounts in
Instagram, facebook and LinkedIn applications.
Strategy #2 In this, the hotel industry will adopt low pricing strategy which will
benefit the hotel businesses to attract large number of budget
friendly customers in most appropriate manner. This will allow the
hotel companies to attact the interest of large number of
customers.
KPI Measurement / Goal The industry will measure the actual results of each variables for
determining the factor whether or not customer buys the service.
Weekly action required The hotel industry will focus on adopting renewable energy sources
such as Solar plants in order to cut the expenses related to energy
sources. In addition to this, the hotel will also adopt newer
technologies for eliminating food wastages in most effective
manner.
What is required in the areas below to help you achieve your goals?
Skills development: For achieving the specified goals, the manager of hotel industry will lay their
focus on launching skill development programs in order to narrow the skill gap of workers who
are working in different sectors of the hotel business. In relation to this, the hotel industry will
develop necessary skills such as communication skills, problem solving skill and many other
important skills.
Attitude / Behaviour: The favourable attitude of team member will also be the goals of manager
to develop in order to attain the predetermined goals in effective manner. The development of
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positive attitude among team members may allow the hotel businesess to respond to external
changes in the most healthy manner.
Effort / Motivation: The manager of hotel businesses will also give more attention of boosting
the motivation level of their team members by giving them equal opportunity to take part in
decision making process. This way the manager can enhance their motivation levels in the most
appropriate manner.
Items for further discussion with my team leader:
1. I will discuss with my team leader about how we can lower the amount of daily expenses
in the effective manner.
2. I will also discuss with my team leader about following the sustainable practise practises
for achieving future goals without harming the mother nature.
3. I will discuss with my team leader about how to enhance customer loyalty in the most
appropriate manner.
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