Hotel Guest Data Mining
As part of the hospitality industry, your hotel accumulates an incredible amount of data about your guests. Little nuggets of information are generated every time a guest interacts with your brand in some way. When each nugget of data is looked at separately, it may not provide a lot of value. Put that data in the hands of a skilled marketer who has the right analytical tools and hotel guest data mining experience, however, and you gain powerful intelligence that can revolutionize your hotel’s operations.
Most of our clients are already capturing their guests’ data in some way. While you can realize some benefits from delving into data mining in a limited form, Travel Tech Strategies dives much deeper, focusing on data-mining your existing data based on customer behaviors, transactions, demographics, social media relationships, and geo-location, among other methods. Through thorough analysis of this deeper data, we can help you to market to your customers much more effectively. Hotel guest data mining allows you to refine your marketing strategies so you can communicate with your guests in more relevant ways, which leads to positive results to your bottom line.
Hotels that grasp and develop Big Data strategies are able to deliver a better, more relevant travel experience to their guests. The positive results of this strategy are clear to see –the improved relevancy gives guests an increased incentive to stay, which can lead to an upswing in repeat stays, a significant gain in market share, and an increase in profits. This relevance can be challenging to cultivate without some advanced knowledge of guest data mining techniques, however. That’s where Travel Tech Strategies can help.
Our analytical experts find creative ways to collect, manage, and analyze a tremendous volume of data in a reasonable amount of time. This allows us to present hotel owners with a solution that is relevant to their travel needs. We interpret the data so you can gain a better understanding of the complexity and volume of guest data that you have. We can then help you apply this information to implement key strategies that will ensure your business goals of profitability and return on investment are met. Take a look at some of the ways that Travel Tech’s guest data mining services can help your hotel:
Price optimization strategies
When you have our guest data mining services on your side, you never have to guess or struggle to set a price rooms at your hotel. Our data mining efforts will give you the figures you need to set optimum pricing schedules for your rooms. Travel Tech Strategies can optimize and automate everyday pricing and other control decisions in hotel room sales. We do this by applying analytics to your competitors’ hotel published fares and rapidly analyzing historic domestic and international fares, competitor hotel behavior, seasonal data, and overall market opportunity data. This data set enhances demand forecasting for optimized capacity and improves your yield management through automated inventory control and rate rules.
Organizational optimization strategies
A thorough analysis of guest data can help you eliminate some of the unnecessary costs you are currently incurring at your hotel. Travel Tech Strategies can help you streamline your business operations by analyzing data processes wherein significant cost reductions can be gained, processes realigned, and productivity increased after implementation.
Client loyalty strategies
Travel Tech Strategies specializes in helping hotels improve their customer retention strategies. When a recent travel survey by MCD Partners asked guests how open they were to a hotel proactively enhancing their stay, 74% of travelers expressed significant interest in having hotels make use of personal data to deliver a more relevant experience during their stay. Guests in every traveler category (business, leisure, and family) demonstrated an eagerness for personalized services that make their stay more comfortable or convenient. This concept was particularly appealing to business travelers, with 79% of these customers expressing their preference for personalized experiences.
By analyzing the data points from the various interactions that guests have with your hotel brand, we can help you develop loyalty strategies that provide a more personalized experience for the traveler. Delivering this more personalized experience can help your hotel increase loyal participation and improve guests’ engagement with your brand.
Big data analytics
Travel Tech Strategies analyzes Big Data in real time to uncover hidden patterns, unknown correlations, market trends, customer preferences, and other business information useful to hotel owners. Among many things, we analyze web server logs, internet clickstream data, social media content, social network activity reports, text from customer emails, survey responses, and more. By applying these analytical findings, you can make more informed business decisions about how your hotel targets and communicates with customers.
The bottom line
Your hotel has a reservoir of information about your guests, but by itself that information alone is not going to help you improve your business. To do that, you need to know how to analyze the data and get that intelligence into a useful form. That’s where Travel Tech Strategies’ hotel guest data mining services come into play. We can mine your data to reveal an enormous amount of useful intelligence about your guests. Insights both large and small can be gleaned from all your guests’ interactions, from personal preferences in food and drink to online behavior, and more. We can help you apply these insights to refine your pricing, organizational, and loyalty strategies to make your hotel more profitable than ever before. Call Travel Tech Strategies today to start putting this valuable resource to work building your hotel business.
Travel Tech Strategies is a forward-thinking market leader providing the travel industry with in-depth Big Data analysis