If there’s a lesson that hoteliers can take away from services like Netflix, it’s that personalization truly pays off – both figuratively and in a more tangible, financial way. Hospitality is now more diverse than ever, due to a large offering in terms of accommodations, services and, more recently, even pricing. Personalization methods have evolved over the years, and it seems that we are now approaching a new type: the one of hotel pricing.
The concept of “personalization” has been touted by travel marketers so often in the last few years, that most would agree that it’s become a bit overused. It’s time for travel brands to evolve beyond broad-based personalized targeting and get smarter about how they use their data.
As personalized, one-to-one guest communication becomes the standard in our industry, pretending to stay in business without some level of marketing automation (MA) is, at best, entrepreneurial myopia. There are undeniable advantages in implementing MA in hotels: better guest segmentation, man-hour optimization, workforce allocation and business scalability, just to name a few.
2019 Hotel Trends: The Power of Personalization and Building Personal Connections – Travel Daily News
What happened to brand loyalty? Today’s consumers have been trained to research products and prices, read reviews and make educated and discerning purchase decisions. To reach and engage customers in 2019, and to appeal to their personal needs, companies need to deeply understand what today’s consumers value most. This is especially true in travel – because experiences have taken priority over possessions as a path to happiness and fulfillment.
Heightening Your Pre-arrival Experience, Getting To Know Your Guest Before They Arrive Can Enhance Their Stay – Hotel Interactive
In the past few years, we’ve witnessed incredible advances to the hotel experience as properties continue to leverage current hospitality trends like personalization, wellness programs and local partnerships, to name a few. But with all of these trends aimed at improving the onsite guest experience, there’s a huge missed opportunity – enhancing the level of interaction before the guest arrives.
Who Will Benefit From the Digitization of the Hotel Industry?– HospitalityNet
We have fully entered a new era. What was once a craft industry has now become an industry that is highly specialized in many fields. These changes are exciting and gratifying. Why? Because they make the players in this business future in product design, customer relations and the range of services we can offer them. The notions of the “money back guarantee”, “exchangeable product” and sales were invented at Le Bon Marché department store. Nearly 200 years later, Black Friday has become a global institution, and no customer can imagine not being able to exchange an item.
Hotel revenue management (RM) is not new and has been around for 30+ years, yet only 3% of hotels globally use revenue management technology today. While the adoption of RM tech is not the only measure of the pervasiveness, it is a good reminder of how far we need to go as an industry. The main goal of sharing these uncomfortable truths is to elevate the dialog around the importance of RM and why, as an industry, we must strive to do better in driving revenue performance using data driven insights.
Why and How You Should Apply The Netflix Model To Your Hotel – HospitalityNet
It’s easy to forget that Netflix started out as an ambitious DVD-by-mail company that nearly went out of business. Back in 2011, Netflix was being savaged by the media and its stock price was plummeting. Today, it’s the second-most valuable media company in the world and boasts 125 million subscribers. In the following post, we’ll reveal what hotels can learn from the Netflix success story, including how to utilize personalization, consumer psychology, and an experimental mindset to compete with the OTAs, offer incredible customer service, and win more direct bookings.