Last week our SVP Product Marketing, Duane Hepditch and Regional Sales Director, Gladys Ang headed to HSMAI ROC Asia Pacific for two days of discussion around revenue management strategies. From networking, to presentations to workshops, HSMAI covered all bases and inspired great conversations amongst peers in a beautiful Singapore setting.
Our key takeaways from the event followed on the themes of - collaboration, loyalty, leveraging the right channels and communication. In line with these themes, Duane Hepditch looked in detail at the convergence of revenue management and customer analytics and how revenue management and how marketing can work together exceptionally well to help achieve high level revenue-driven goals.
By looking at the whole traveler lifecycle and guests’ digital traces hoteliers around the globe have been able to identify their most valuable guests and in doing so, drive revenue year round. One particular case study, Hotel del Coronado in San Diego, CA was highlighted in his presentation.
Hotel del Coronado needed to achieve the following:
Increase ADR, while minimizing costs
Eliminate ‘sale’ mentality
Find more qualified guests to book direct
Through a multi-step process, they were able to identify who their most valuable guest was and directly target those people.
By looking at data from multiple platforms, three target audiences were identified based on actualized purchases and historical purchase patterns. They were able to identify their most likely ‘guest type’.
By aggregating the three target audiences through third party appends, a rich guest profile was created. This was based on a wide range of demographic and psychographic attributes; everything they needed to know about the type of guest that would be likely to stay at Hotel del Coronado was identified.
Once those profiles had been identified, they were able to look specifically at the most affluent zip codes in the country and target them directly through efficient and effective use of media placements. This allowed them to target higher paying guests.
Match online guest profiles to segmented audiences within the internal database
Through re-marketing to past guests with high ADR, they were able to build an audience that represents the guests identified as high ADR stayers.