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Aligning Social Media Strategies with Revenue Management Tactics - Part 2

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    Aligning Social Media Strategies with Revenue Management Tactics - Part 2 Aligning Social Media Strategies with Revenue Management Tactics - Part 2 Presentation Transcript

    • Aligning Social Media Strategies with Revenue Management Goals
      Part 2
      Kate Varini
      EyeforTravel, Amsterdam, Nov. 2010
    • MARKETINGIn with the new, out with the old!
    • MARKETINGIn with the new, out with the old!
    • PR: In with the new, out with the old!
    • A recent survey of 2100 companies
      75 percent of companies surveyed did not know where their most valuable customers were talking about them.
      31 percent do not measure effectiveness of social media.
      Only 23 percent use social media analytic tools.
      A mere seven percent are integrating social media into marketing activities
      http://www.eyefortravel.com/news/marketing/how-many-travel-companies-are-integrating-social-media-marketing-activities
    • Another Study – 36 Respondents
      How often do you interact with social media?
      Regular User 38.9%
      Occasional user 41.7%
      Time spent online per day
      Less than 1 hour16.7%
      1-5 hours 61.%
      More than 5 hours22.2%
    • How does your firm use social media
    • Which ways does your firm aim to leverage social media?
    • Build brand awareness
      time-limited campaigns
      free services
      Tracking of average total spend per guest that comes from/through a social media sight.
      Track how that spend impacts profitability. Some guests are may spend less, but are more profitable to the property.
      Amount of ancillary revenues generated.
      Number of fans, and usage of siteusing click-through and resulting bookings/revenue
      3rd party tool
    • Who is in charge of Social media management?
      Marketing (6)
      e-commerce manager and customer service staff
      sales manager
      We have created the position to specifically look after social media
      VP of Pursue The PassionMarketing
      Executive Head of DigitalPR
      Manager Distribution and PR
      PR / Marketing
      PR specialist
      PR MarketingBrand management(online)
      Marketing PRDirect
      Creative Services TeamCommunication Manager
    • On a scale of 1 to 10 (1 being least and 10 being most), rate how knowledgeable the staff assigned to managing social media are about it.
      Average 6.7
      Most common answer: 8
    • Who should be in charge to ensure alignment of social media strategies with marketing, revenue management and pricing strategies?
      Marketingsales manager and general manager
      A dedicated, serious, clever and hardworking professional that comprehends the company's goals very well.
      Marketing manager
      Director of Revenue - It is all about identifying what is being measures and how it is being used.
      The marketing team are usually the ones with the creative ideas and Social media is a great way to try the more unusual marketing ideas.
      CEO Head of Digital and Social Media
      Director of Sales & MarketingBusiness development executive
      The (Assistant) Hotel ManagerCommercial DirectorCommercial Team
      The Director of Revenue Management
      Marketing Distribution Marketing & RMHead of Commercial Department
      Marketing Head of Social Media (within Marketing)DOSM/Revenue Mgr/GM/
      Marketing CommunicationInput needed from several departments
      Marketing Manager + GM
    • Average age : 36
      0.7 children
      Ages of children: 1-30
      Male 58%
      Female 42%
      Respondent information
    • References
      Constantinides, E., Romero, C. & Boria, M. (2009), Social Media: A New Frontier for Retailers? in European Retail Research, Gabler, pp. 1-28.
      Drury, G., (2008), Opinion piece: Social media: Should marketers engage and how can it be done effectively? Journal of Direct, Data and Digital Marketing Practice, 9(3), pp. 274-7.
      FreshMinds Research (2010) Turning conversations into insights: A comparison of Social Media Monitoring Tools. www.freshminds.co.uk accessed August 10th, 2010.
      Kaplan, A.M. & Haenlein, M., (2010), Users of the world, unite! The challenges and opportunities of Social Media, Business Horizons, 53(1), pp. 59-68.
      Mendes-Filho, L., Tan, F. & Milne, S. (2010), Backpacker Use of User-Generated Content: A Consumer Empowerment Study, in Gretzel, U., Law, R., (ed), Information and Communication Technologies in Tourism 2010, Springer, pp. 455-66.
      Scott Meerman, D. (2010) The New Rules of Marketing & PR. John Wiley, New Jersey
      Thackery, R. Neiger, B.L., Hanson, C.L. & McKenzie, J.F., (2008), Enhancing promotional strategies within social marketing programs: use of Web 2.0 social media, Health Promotion Practice, 9(4), pp. 338-43.
      Xiang, Z. & Gretzel, U., 2010, Role of social media in online travel information search, Tourism Management, 31(2), pp. 179 - 188.