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Team h q rator+ day 5 v5

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  • Hotels have limited knowledge E-harmony for connecting guest with unique experiences.
  • Hotels have limited knowledge E-harmony for connecting guest with unique experiences.
  • Transcript

    • 1. QRator+ Pre-stay ‘eHarmony’: connecting guests with uniquely tailored experiences # of M T W TR TotalCustomers 6 31 34 5 76Rodolfo Luis Josh Ame Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 2. Customer Loyalty drives $ Delivers loyalty by allowingQRator+ Hotels to learn about their customersKnowledge = Service Improvements = Loyalty Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 3. Customer Development > Broad and deepConcierge Management Guests Corporate Content/IT 15 10 37 11 3 Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 4. Day 0-1 Review: What we Thought -> Did What We THOUGHT What We DID• Hotel guests want local experiences • Talked with hotel concierge and hotel managers• Hotels want to improve their conciergeservices • Brainstormed business model pivot: customized solutions (not repeatable or• Need not met: Hotels don’t have scalable?) -> standard concierge databasededicated concierge services or have and platform (satisfy the largest need)underperforming ones • Segmented market and defined target• The best way to deliver local NY content market as 2nd-tier, urban hotelsto tourists/users was through real-time“QRators” Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 5. Day 2-4 Review: What we Thought -> Did What We THOUGHT What We DID• Platform opportunity for limited or no • Talked with concierge, managers,concierge hotels instead of competing or guests, corporatecomplimenting hotels with conciergeservices • Pivoted to complement current concierge services• Guests want local experiences • Allow guests to control the level of• 2nd tier guests would prefer 1st tier concierge service they want before and atservice the hotel• Quality of content was important • Construct loyalty platform to drive recurring revenue and referrals – and• Hotels control their concierge service allow hotels to improve their service internally by knowing their guests better • Presented prototype plans to 3 hotels – responded positively Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 6. Day 5: What we Thought -> Did What We THOUGHT What We DID• Guests in our target market want • Surveyed end users in our targetlocal experiences market and hotel management• Local content provider to chain hotels • Aggregate content from trustedwith many city locations sources: Nymag, TimeOut, Zagat, Ticketmaster• Curated content drives customerloyalty • Value to hotel: retention/referral, customer data, promotions, marketing• Customers know what they want to tooldo before arriving at hotel Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 7. Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 8. Archetype of Customer  Franchisee of corporate – Management owned properties e.g. Marriott  20 / 30 properties in urban areas  Decision making tree:  On-site staff (Front-desk, Concierge, IT, Manager)  Management Company:  CTO (CEO sign-off; no need for BODe.g. Hotel REIT, LLC approval)  Metrics:  Sales cycle = 3-6 months  CAC = TBD  LTV = TBD, <5% churn rate Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 9. Day 6 (Next Monday) and Beyond:What we will Do• Three scheduled talks with potential Early Evangelist (Testers)• Plan Minimum Viable Product (Diaper.com approach)• Finalize TAM, SAM, TM assumptions• Get CAC and LTV estimates• Partnership development – CRS, CRM, PMS Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 10. QRator+ The engine that drives Customer Loyalty at your hotel Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 11. AppendixHave feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 12. Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 13. Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 14. Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 15. Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 16. Day 5 > Customer Acquisition & Competition Typical Customers Acquisition Competition Hotel: • Acquire franchisee • In-house, existing loyalty• Franchisee of large management of hotel chains programscorporate chain • Strategic decision likely • CRM platforms (Opera,• Management-owned made at top management Cendyn)properties• Invests in providing better level (CEO), but not full • Online travel bookingservice system roll-out (Expedia, Travelocity, Orbitz)• 20-30 properties • Fastest to implement: 3 • Outsourced concierge months – design survey to services (Continental) Guest: match hotel branding, build• Business or leisure technology, train staff • Marketing firms• Higher income• Enjoys experiences • Access hotel guests • Free content providers:• Wants same activities as through hotel database, not Zagat, Yelp, Trip Advisor,at home (running) 3rd party booking agent Time Out, Urban Daddy• Already member of • Potential entrants:loyalty programs • Build partnerships with content providers, event Facebook, Google• Male & female, 20s-30s managers, restaurants Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 17. Day 5 > Market Sizing TAM = Total marketing for US hotels TAM SAM = TAM adjusted by: $10.2 billion 52% of Full Service Hotels 58% of Hotel in urban areas SAM TM = SAM adjusted by: 15% of marketing budget we will $3.1 billion charge 50% penetration assumption Note: Market sizing exercise is only for US, if TM international hotels were included, it would be a much larger market. $229 million Source: STR Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 18. Day 5 > Selected loyalty programsLoyalty Program Hotel Chain1865 Langham Hotels InternationalChoice Privileges Choice HotelsFiesta Rewards Grupo PosadasSwissotel Circle Swissotel Hotels & ResortsHilton HHonors Hilton hotelsHyatt Gold Passport HyattKimpton InTouch Kimpton GroupMarriott Rewards Marriott owned hotelsPan Pacific Privileges Pan Pacific Hotels and Resorts InterContinental chain hotels (including HolidayPriority Club Inn)Starwood Preferred Guest Starwood hotels and resortsShangri-La Hotel Golden Circle Shangri-La and TradersMaS Rewards Sol Melia Hotels & ResortsByRequest Wyndham branded hotelsRitz Carlton Rewards Ritz Carlton Additional potential target customersAman Resorts Biltmore Hotels Fairmont HotelsGaylord Hotels Grand Hotels Kempinski HotelsLoews Hotels Taj Hotels Rosewood HotelsMandarin Oriental Le Meridian Fontaineblaue ResortsITC Hotels Jumeirah The Luxery CollectionMorgan Hotels Mövenpick Hotels Peninsula HotelsRelais & Châteaux RockResorts Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 19. Day 3 Review:What we Thought -> Did -> Will Do What We THOUGHT What We DID What We WILL DO• Guests in our target • Surveyed end users in • Build minimum viablemarket want local our target market and productexperiences hotel management • How much are hotels• Local content provider to • Aggregate content from willing to pay?niche hotels with limited or trusted sources: Yelp ,no concierge hotels UrbanDaddy, StubHub, • Develop preliminary Trip Advisor, TimeOut pricing and cost assumptions• Curated content drivescustomer loyalty • Value to hotel: • Think about who owns retention/referral, customer data• Customers know what customer data,they want to do before promotions, marketingarriving at hotel tool Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 20. Day 3 > Get Out of the Building! Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 21. Day 3 > Market Sizing TAM $2.5 billion SAM $1.5 billion TM $743 millionAssumption:Hotels would pay $2 per room for customer profiling, recommendations and future “experience matchings” Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 22. Day 2 Review:What we Thought -> Did -> Will Do What We THOUGHT What We DID What We WILL DO• Platform opportunity for • Talked with 31 people: • Focus on niche hotels (i.e.limited or no concierge concierge, managers, A-Loft) which attracts guestshotels guests, corporate who want local experiences• Guests want local • Budget hotels have • Deliver curated contentexperiences basic platforms centered based on hotel location and on ticker broking average guest profile• 2nd tier guests wouldprefer 1st tier service • Outsourced concierge • Define what are the sources of best content• Hotels control their • 2nd-tier, midtown guests (known, reliable, repeatable)concierge service want to see top attractions instead of local • Develop unique add-on experiences experiences Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 23. Day 2 > Get Out of the Building!QR Company Role Key FeedbackCorporateAI Starwood Hotels Director of Sales Already have a platform internally -- would like more content -- price importantAI Choice Hotels Director of Mktg iPad handles most basic customer requestsAI Aloft Harlem Mgmt, Events Great idea but the cost is important -- would like exclusivityAI Aloft Harlem Guests x5 Would use concierge, but use smartphones when no concierge presentAI Columbia Parents x4 No concierge services -- would like knowing where events are locallySite VisitsJW Marriott Junior Mgmt In-house staff curate their own recommendationsJW Best Western Low-end FD/CN No concierge service -- stock flyersJW Courtyard Marriot CN Outsource Outsourced to Continental (ticket broker)JW Double Tree Hilton Guest (FL) Does not use CN -- does own research for ideasJW Double Tree Hilton Drink at bar CN depends on person -- assume there are kickbacksJW Fitzpatrick Hotel 2 FD/CN Have shelf ideas -- Google, Zagat for new requestsLS Residence Inn CN Outsource Old School concierge / will like to connect with younger generationLS Marriot Courtyard PT CN/FD Does feel technology can improve his role, like one-on-oneLS Fairfield Inn FD, no CN Disinterested, rely on tech hardware at hotelLS Hampton Inn FD, no CN Does not see problem, very disinterested with customer servicesLS Comfort Inn General Mgmt Technology has changed the industry for the betterLS Comfort Inn FD, no CN Technology ruined sales that were done at hotel and commissions were lostLS Columbia Club FD, no CN Business guests don’t need much a concierge / know the cityRC Double Tree Hilton CN Outsourcing Prevalent in NYRC Comfort Inn General Mgmt Concierge Services depend on Size (>100 rooms)RC Holiday Inn FD To Break-Even in concierge a property needs high turn-over ratesRC Holiday Inn CN Ticket Broker - not service orientedRC Comfort Inn CN No training / barely spoke EnglishRC Double Tree Hilton General Mgmt High staff turnover / Works only within system Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 24. Customer Development > Day 2What we learned Outsourced Best Concierges WesternContent is King are (BW)where Customer ‘Distribution properties Demographics Centers’ give BW are aligned services NY is a Franchisor / unique Franchisee market Model Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 25. Day 1 Review:What we Thought -> Did -> Will Do What We THOUGHT What We DID What We WILL DO• Hotel guests want local • Talked with hotel • Develop idea of “in house”experiences concierge and hotel services (incremental revenue managers generation to hotel) to• Hotels want to improve complement “out of house”their concierge services • Brainstormed business model pivot: customized • Estimate hotel’s willingness• Need not met: Hotels solutions (not repeatable to pay for servicedon’t have dedicated or scalable?) -> standardconcierge services or have concierge database and • Define what are theunderperforming ones platform (satisfy the sources of best content largest need) (known, reliable, repeatable)• The best way to deliverlocal NY content to • Segmented market andtourists/users was through defined target market asreal-time “QRators” 2nd-tier, urban hotels Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 26. Customer Development > Day 1What we learned CRM Referral solutions system is exist, but Concierges Grey, but limited are Level 3 Concierge doesn’t tracking of employeesServices are apply off-site‘Key’ part of across the guest Guest board activities Services In-house vs. Concierges outsourced are moving Concierges towards unions Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 27. Day 1 > Market Sizing TAM $1.7 billion SAM $541 million TM $108 millionAssumption:Segmented hotels will spend $1 per room in concierge / customer service Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu
    • 28. QRator+ The engine that drives Customer Loyalty at your hotel Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 29. Customer Loyalty drives $ QRator+Delivers loyalty by allowing you to learn about your customersKnowledge = Service Improvements = Loyalty Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 30. QRator+ in action - Reservation Link (White Label) to QRator+ smartSurvey Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 31. QRator+ in action – Confirmation E-mail Link (White Label) to QRator+ smartSurvey Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 32. QRator+: smartSurveyWhat image best describes your food taste? Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 33. QRator+: smartCuration Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 34. QRator+: smartProfile Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 35. stores Mr. Smith’s profile andQRator+ screens for future activities at locations where Warwick has properties Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up
    • 36. QRator+ drives Customer Loyalty QRator+ + May 2013 Mr. Smith Targeted promotional communications to customers+ Superior service Loyal Customers Have feedback for us? Please e-mail Rod: rchiari13@gsb.columbia.edu Service Mock-Up

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