The Secret to Grow Event Revenue? Technology.

The Secret to Grow Event Revenue? Technology.

Wouldn’t it be great if you could grow event revenue by producing additional capacity? Just pull dates out of thin air, manufacture staff at will, and open your doors to all.

Unfortunately for the bottom line (but fortunately for your sanity), that’s not how it works. And with rising costs for, well, everything these days, you have to work extra hard to close dates with speed.

As you book up all your dates, the only ways to grow event revenue are to improve your operating efficiency on each event, or to drive more revenue from each event. ROH’s revenue optimization solutions are proving to do all of the above. And add a bit more consistency to your cash management, too.

Flexible payment options meet your customers' needs

Properties that offer ROH’s four monthly payments option to their customers see a 15% average increase in per event spend. This increase in revenue translated to increased profits. The typical venue sees a 4.5x YoY ROI (return on investment) when they offer ROH.

ROH also improves cash flow and keeps you focused on selling. Our venue partners see 80% of their invoices paid on time. This not only puts cash in the bank more quickly, but it also gets it there more efficiently, without having to chase down payments.

How the ROH solution works: a modern, digital extension of your brand

The solution gives your customers the modern, trustworthy, and efficient experience they expect.

Our platform enables you to generate an invoice for your clients in seconds. Literally. If you wish, you can connect a copy of the contract to the invoice. Customers can sign the contract digitally.

Your customers receive the digital invoice seconds after you send it with your logo appearing at the top of the page. ROH has been in the hospitality industry for nearly 10 years—we know that your branding is essential at every touchpoint with a customer and we step on that.

The invoice simply asks, “How do you want to pay?” Your customers can pay by credit card or e-check in full (the solution is PCI DSS compliant), or in four interest-free monthly payments. Once we process your client’s payment, they receive confirmation. And so do you.

Whether the customer chooses to pay in full or over time, you receive full payment within one business day. For the customer, in this period of financial volatility and inflation, they are able to manage their own cash flow better as well while not necessarily having to sacrifice their preferences in order to get the deposit costs “down.” Anecdotally we hear often that sales conversations become a lot more aligned in that regard and that a venue’s customers feel that they’re getting a better experience.

Best-in-class reporting and tracking

ROH provides a property dashboard that helps you track who has paid, who hasn’t, and who needs a friendly reminder.

You and your customers receive immediate, automatic confirmations when payments are processed. You can export payment and invoicing data at any time for internal bookkeeping or external reporting with just one click.

This modern, up-to-date system is complementary to existing systems and there’s no downtime during onboarding. No more collecting credit card or bank account information by phone, manually sending PDFs, and constantly following up and tracking down payments.

In addition to helping you improve the customer experience, our system frees your staff from chasing payments, so they can have more time to grow event revenue and build your business.

Premium marketing support from the industry’s fastest growing digital community

Partnering with ROH also gives you exclusive access to our blockbuster team of social media experts at Carats & Cake, which attracts more than 650,000 followers to social channels and 100 million-plus social impressions every month.

This is the team you want if you're looking to reach your marketing goals and grow event revenue. We've helped shape great luxury brands in retail, lifestyle, and hospitality. We know how venues work and what it takes to increase event income. We also emphasize agility and speed-to-market.

ROH's payments and marketing solutions work hand-in-hand. If you want to attract customers to your venue, book more events, grow event revenue, and get paid faster, schedule a free demo to learn more.