Best practices for increasing revenue per guest
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With the rise of millennials and technology-savvy travelers, guest expectations are evolving. Hotels are finding that general marketing is failing to cut through the noise and build loyalty with repeat guests. With more advanced marketing techniques and an increased level of personalized communication, hoteliers can can drive a higher revenue per guest through the entire guest lifecycle. In our FREE webinar, learn how you can improve your revenue per guest with Guest Lifecycle Management. During this session, hoteliers will learn about: How loyalty has changed in today's technology-driven marketplace Building emotional loyalty Strategies in action: Improve the end-to-end guest experience Best practices for increasing revenue per guest Our webinar panelists are: Betty Mok, director product marketing, Revinate Donna Quadri-Felitti, Associate Professor, NYU Kevin May, Moderator and Editor, Tnooz Nick Vivion, Producer and Reporter, Tnooz This webinar took place on Thursday 26 February 2015.
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Best practices for increasing revenue per guest
- 1. Ways to increase revenue per guest Webinar 26 February 2015 #GuestRevenue
- 2. Your hosts Kevin May Editor & Moderator Tnooz Nick Vivion Reporter & Global Events Lead Tnooz
- 3. Your presenters Donna Quadri-Felitti Associate Professor Hospitality and Tourism/Chair, NYU School of Professional Studies Tisch Center Betty Mok Director of Marketing betty@revinate.com @Revinate
- 4. Ways to Increase Revenue per Guest
- 5. AGENDA A different approach to revenue The growing need for CRM in Hospitality Understanding the guest lifecycle Ways to increase revenue throughout the guest lifecycle
- 6. ABOUT REVINATE • Focused on Hospitality & Restaurants • 24,000+ hotels in 160 countries SaaS tech company based in San Francisco Offices in Singapore, Sydney, Dubai, Amsterdam and NYC
- 7. A different approach to revenue
- 8. ROOM INVENTORY VS GUEST DATABASE 8
- 9. 9 REVENUE IS MORE THAN A SINGLE BOOKING Booking On Property FeedbackSearch
- 10. 10 IMPORTANT AREAS OF FOCUS MARKETERS Source: “Digital Roadblock: Marketers struggle to reinvent themselves” Adobe, March 2014
- 11. The accelerated need for CRM in hospitality
- 12. 12 THE NEED FOR CRM What is CRM? “Customer relationship management (CRM) is a comprehensive business model for increasing revenues and profits by focusing on customers. CRM uses advanced technology to maximize the firm’s ability to add value to customers and develop long-term customer relationships.” Johnson, M.W., and Marshall, G. W. (2008) Relationship Selling, 2nd Edition. McGraw-Hill Irwin. New York.
- 13. ARMING YOUR HOTEL WITH THE RIGHT DATA Lucy Jones Check In: 12/16 Nights: 2 Rate: $125 Email: ? Phone: ? Stay History: ? What a hotelier sees: Available data:
- 14. Research Check-in Booking Golf Simulator Scheduling a wake up call Resolve an issue Survey/ Review Booking Loyalty Campaigns Trip Planning CRM ENABLES GUEST LIFECYCLE MANAGEMENT Wine Special at Bar
- 15. Understanding the guest lifecycle
- 16. 16 INDIVIDUAL, ENVIRONMENT AND SITUATIONAL DIFFERENCES Source: Quadri, 2010
- 17. IDENTIFYING THE RIGHT ENGAGEMENT POINTS 17 Pre-Stay In-Stay Post-Stay dinner reservations local events golf more towels wi-fi taxi to meeting airport shuttle local flavor upgrades Re-engagement check-in/out social sharing airport shuttle loyalty perks feedback local flavor social sharing activities planning tee times
- 18. Ways to increase revenue throughout the guest lifecycle
- 19. PRE-STAY: UPGRADES 19 • Capture guest contact info especially email address • Start collecting preferences and other general information • Match it to historical stay info • Use that information to create targeted communications *If the guest books through an OTA, be sure your front desk agent collects the email at check-in
- 20. PRE-STAY: TARGETED AMENITY PROMOTIONS Occupancy low for upcoming weekend Openings for their high-end golf simulator
- 21. PRE-STAY: EXAMPLE OF EMAIL NURTURE 21 WHEN GUEST BOOKS STAY TWO WEEKS BEFORE STAY DAY BEFORE CHECK-IN DAY OF CHECK-IN CONFIRM BOOKING with CTA for guests to list preference s TARGET: social proof promotion INCENTIVE to fill out preferences ADVANCED CHECK-IN with room upgrades ADVANCED CHECK-IN with room upgrades WELCOME EMAIL personalized offerings WELCOME EMAIL with general offerings
- 22. IN-STAY: DAY-OF PROMOTIONAL PUSHES 22
- 24. POST-STAY: SURVEY PUBLICATION CAMPAIGNS 24 Increase review frequency Climb the ranks in popularity TripAdvisor Survey Publishing 409% 2 6 5 4 3 1
- 25. POST-STAY: ‘BRING THEM BACK’ CAMPAIGNS’ 25 Hi Asha, Registration is open for the 2015 Ottawa Marathon. Come stay with us again at a discounted rate!
- 26. CLOSING THOUGHTS
- 27. NEXT STEPS 27 1. Examine your hotel's approach to measuring revenue performance. 2. Perform a guest data review. What do you know about your guests and how are you capturing guest data today? 3. Brainstorm ways customization can be employed to enhance your guest experience. 4. Evaluate your current tools as well as those available on the market to facilitate this process.
- 28. Hotel CRM MarketingAutomation Introducing inGuest Superior guest experience and revenue $$ + THE REVINATE APPROACH
- 30. COME SEE US: ITB CONFERENCE IN BERLIN 30 March 4-8 in Berlin, Germany Meet Revinate for a live demo of inGuest ->> Hall 6.1 – Booth 101 Learn about next generation hotel marketing ->> Friday march 6th at 15:30 @ Tech Theater Schedule a personal meeting at ITB ->> Email thomas@revinate.com
- 32. Thank you! Send your questions and comments to kevin@tnooz.com Replay and presentation of webinar will be available on www.tnooz.com
Notes de l'éditeur
- BETTY
- BETTY
- BETTY: Revinate is a software technology company based in San Francisco. With a dedicated focus to the hospitality industry, we have a suite of guest feedback solutions as well as CRM and Marketing automation tools for engaging guests and driving revenue through the guest experience. Over 24,000 Hotels using Revinate in over 160 countries. We work with independent properties, small brands and management companies, all the way up to the world’s leading management companies and hotel brands such as IHG, Wyndham and and Radisson. Working with these hoteliers has given us unique insight and expertise in hospitality which is what enables us to share these best practices today.
- BETTY
- BETTY: So hoteliers traditionally look at their properties by the number of rooms but in other industries, there is a tendency to look at things a bit differently. Its very common to look at a company and say we have 3 products and 10K customers because your customers are your asset. Those are existing relationships you can capitalize on to build your business and drive revenue.
- BETTY: To take that concept a bit further, hoteliers traditionally focus on the bookings. But revenue can be derived from the entire guest experience. Instead of looking at revenue in terms of singular bookings, there’s an opportunity to consider the entire guest experience. From search, to booking, to the on-property experience and even when they provide feedback. All these steps can be drivers of revenue. And if you take it a step further and invite your guests back, you can begin to look at the the lifetime value of each of your guest relationships.
- BETTY: A critical opportunity for maximizing revenue is through personalization. Personalization is more than just dynamically changing a guest’s name in an email. In a 2014 study of Marketing trends by Adobe, they found that Personalization and Social are two of the most important areas of need for marketers today. And this is not a huge surprise. The evolution of technology provides tools to Marketers that didn’t exist before and also drives consumer expectations. We’re known about the potential for social media for many years now, but personalization is emerging as the newest trend. Today, we’re going to apply it to the hospitality industry.
- DONNA
- DONNA: What is CRM? Most hoteliers know what a CRM is but for the purposes of clarification: CRM is…. CRMS have been around in the hotel industry for 20 years, but advanced technology allows you to integrate with on-property systems to bring all your data into one place and do much more advanced marketing than ever before. This is critical because if you’re going to think about your guests as your asset, you need a system that tracks their information and guides you on how to interact with them to drive revenue and guest loyalty.
- DONNA: The problem is though its very hard for a hotelier to deliver on a personalized experience without the right tools. On the right side of the screen, a typical hotelier sees very basic information about that particular guest and their stay. But with technology today, there’s a ton of information that is available in your systems and there’s also a lot you can draw from in public domains. When you combine all the tools available to hoteliers, you can access a ton of data about your guests. From who they are with the demographic info to past stay info and preferences to previous reviews they’ve written and whether they’re social. This is information that can help you personalize a guest experience and drive guest loyalty.
- DONNA: Consolidating guest data is what powers your thinking and enables you and your staff to focus on a guest-centric strategy In this case, the marketing team at the Avertine Inn could send targeted messages to different segments, one might be those interested Golf and Weekend escapes, who live within 2 hrs of the hotel. Another might be an invitation to business travelers who are visiting inviting them to extend their stay via a special rate. The collection of guest data via a CRM also enables your front desk staff to provide the best service possible. They can engage travelers across the entire travel lifecycle and make sure every experience is pleasant. Once an individual guest has booked, in this case, Rob, who we know from his guest profile is an avid Golfer and big spender, you can then deliver customized service while he is on property, making sure to book him for the golf simulator, and perhaps offering him a wine special at the bar based on his previous orders. Finally, once the guest has checked out, build loyalty with targeted messaging. Getting email addresses from guests and marketing to them directly can drive direct bookings and allows you to eliminate middlemen like OTA from the process.
- DONNA: So what does it mean to deliver a personalized experience through the Guest Lifecycle?
- DONNA: Guest Lifecycle management takes the Guests’ perspective through their entire experience with your property. It starts with inspiration at the top of the chart as they decide where they’re going and begin prebooking research. Once the hotel is booked, they’re planning the rest of their trip and soon arriving on property. After they’ve checked out, they’re providing feedback and sharing their experiences in social media and after a while, they’re planning the next trip. As a hotelier, it’s a huge opportunity for you to understand this Lifecycle and understand how you can deepen your relationship with guests through the process.
- DONNA: Translating it into customer needs, guests have different needs at different stages in the guest experience. This is where you can think about how you interact with your guests and what your property offers and points of engagement you want your staff to have with guests. And this could be different for different guests. A family with young kids may be interested in different activities than a business traveler who is just there for a day or two. And your hotel is probably diverse enough to have different offerings that meet each of their needs.
- BETTY
- BETTY: A big opportunity for hoteliers is to upgrade guests before they’ve checked in.
- BETTY: Use the data you collect to create additional value and personally relevant messaging Let’s take a look at this in action: The Avertine Inn has an exclusive, high-end golf simulator at their Seattle property. They have noticed that their occupancy for the upcoming weekend is low. They also know that they have openings during the weekend for the golf simulator. This would be the perfect opportunity to reach out and engage Rob, the avid golfer, with a special offer.
- BETTY: A common marketing tactic is to nurture customer relationships through a series of emails. You can create an entire email marketing program that guides your guest from booking to check in. In this chart, it begins with the confirmation email. If you can get guests to tell you about their preferences, two weeks before the stay you can provide promotions that are targeted to meet their needs. You can even layer in social proof promotions which is similar to what Amazon has been very successful in doing– “people like you liked these items” for example.
- BETTY: Booking confirmation emails have very high open rates and are a great opportunity to get a promotion in front of a guest or collect guest data preferences.
- BETTY: If you collect guest cell phone numbers, they have an open line of communication to your front desk, 24/7. This also works in your favor because you can use it to communicate proactively: Day of promotional pushes like spa packages via SMS, service requests
- BETTY
- BETTY
- BETTY
- There is a tremendous opportunity to combine really rich and detailed guest profiles with really smart guest marketing. This combination has the potential to drive a superior guest experience and significant incremental revenue. Introducing inGuest. inGuest is a comprehensive solution for connecting with guests pre-, during and post stay. Our solution is designed to help you know your guests and anticipate their needs. With all guest data centrally stored, hotels can finally truly understand and support their guests and execute targeted marketing campaigns that improve ROI and drive revenue and loyalty.
- At the center of inGuest is really detailed, rich guest profiles with everything from demographic info to past stay info to social profiles and interests. Our Guest Marketing Platform allows you to automate communications through the guest lifecycle, so you can be sure you’re communicating the right message at the optimal time during their experience with your property. And it allows for deep segmentation and targeting.