The hospitality industry is changing rapidly. Customers are changing, technology is changing, markets are changing. So, where should you focus your attention? Each year Market Metrix evaluates industry best practices and publishes “Hospitality Trends and Opportunities.” In this year”s report, one important trend is the focus on “Personalization” and how it is impacting customer engagement and loyalty for some hospitality companies.
From one–to–one marketing to customized hotel experiences, personalization is becoming a reality across the hospitality industry. Here are several areas where the power of personalization is now available.
For years companies have relied on mass marketing (one size fits all) or traditional approaches, such as RFM (based on customers” Recency, Frequency, and Monetary value), to communicate and sell to their customers and prospects. Now, with new technology available more firms are collecting customer likes, dislikes, and preferences, brands are obtaining the deep level of customer intelligence needed to deliver relevant, customized promotions. For example, casino customers are more likely to visit when they receive offers that are geared towards their likes and dislikes. Why give a buffet to a steakhouse customer, slot credits to a table games player, or a free night in the hotel when they live five minutes away? This type of promotion represents customer–centric marketing at the most granular level.
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