There are definitely some specific markets that could be a lot more profitable. That’s why we have extended our segmentation options:
We have taken several Latin American countries out of the “Rest of the world” category:
- Argentina, Dominican Republic, Venezuela, Cuba, Colombia, Uruguay, Panama and Peru.
We have created a “Rest of Latin America” category that includes:
- Ecuador, Guatemala, Bolivia, Haiti, Honduras, Paraguay, Nicaragua, El Salvador, Costa Rica, Jamaica, Trinidad and Tobago, Guyana, Suriname, Bahamas, Belize, Barbados, Saint Lucia, Saint Vincent, Grenada, Antigua and Barbuda, Aruba, Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Curaçao and Sint Maarten.
We have created a “Rest of the European Union” category with:
- Gibraltar, Luxembourg, Austria, Slovenia, Croatia, Greece, Estonia, Latvia, Lithuania, Poland, Czech Republic, Slovakia, Romania, Bulgaria, Malta, Cyprus, Hungary, Åland Islands, French Guiana, Guadeloupe, Martinique, Mayotte, Reunion and Saint Martin.
Why segment markets?
Wider market segmentation will allow you to be much more specific when you create special offers and rates for specific markets which will only show up depending on the user’s IP address. You can create special offers only for those specific users and thus boost the effectiveness of your marketing campaigns.
Another possible use you may not have thought about is changing the cancellation, payment or guarantee conditions depending on the specific market. For example, if you detect fraud being carried out in a particular region, you can exclude certain countries from your flexible rates.
Remember that if you are using the booking engine with the new rate system, you can indicate whether taxes are included or not for each market, and you can even charge your prices directly in different currencies for different markets to avoid any exchange rate differences.