Capitalizing on the Convergence of Social, Behavioral, and Technological Trends
By Ashish Gambhir Co-founder , newBrandAnalytics | October 07, 2012
The convergence of social, behavioral and technological trends are defining a new way for hotels to interact with data and people. Will you and your business be ready? Hotels that use analytics to decipher online feedback are well positioned to deliver a superior quality experience and earn continuous customer loyalty.
A trio of trends is converging on the hospitality industry. One-way, brand-driven communication is being rapidly replaced by a wave of social, behavioral, and technological trends that are changing the way hotels do business. At the center of these converging trends is your customer. Connected, discerning, informed, and empowered, today's customer has taken control of their relationship with your hotel. Understanding how these trends are impacting your business, and being prepared and ready to capitalize on them, will give your hotel the competitive advantage needed to survive and thrive in a constantly evolving landscape.
Today's Customers are Social
Your guests are increasingly going online to talk about their experience at your hotel and, at the same time, travelers are tapping into their online network for advice on purchase decisions. With 77% of travelers saying online reviews influence their purchase decisions, social recommendations are today's most powerful marketing asset. (Source: Deloitte)
For Millennials (a generation that by 2017 will have more buying power than any other), the opinions of others like them-particularly those with direct experience with the brand, product, or service- carry even more weight than insights from friends and family members, according to new research from Bazaarvoice. Raised on a diet of social media:
• 86% say user generated content (UGC) is generally a good indicator of the quality of a brand, service, or product.