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HSMAI Rocet Presentation Oct 24th 2016 in Vancouver BC by Loren Gray


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The New DORM - The “M” Now Stands for Marketing
As a Director of Revenue Management, you may currently, or will be in the near future, not only be responsible for revenue management, but increased engagement in digital marketing and its social media to achieve your goals. Becoming one in the process.This interactive presentation will give you the insights and tools you need to monetize all things digital for your property. It will dive into the data and its resources from deep within digital marketing for the first time in the terms and processes familiar to revenue management. It will include real world strategies in the use of combining this data with existing revenue models. Also included are new insights on social data, its use and tactics as it relates to Facebook, Twitter, Instagram, Linkedin and more from this new combined perspective. Never to be missed is the introduction of new technologies that are profoundly changing our business models such as MetaSearch, Real Time Data Marketing, programmatic verses re-targeting, API’s Bot’s and AI. It’s going to be a firehose of fast paced dialog all to help define the 'real' revenue management world through the perspective of the new DORM.

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HSMAI Rocet Presentation Oct 24th 2016 in Vancouver BC by Loren Gray

  1. 1. CHRM The M is For Marketing Sales  Revenue  Marketing 2 @LorenGray
  2. 2. Let’s Start From The Beginning…. Sales  Revenue  Marketing What are we trying to do
  3. 3. Today is not about the ‘How to’ it’s about the ‘What can’ we do… To learn the tools and data available To find the value in embracing marketing in your day to day revenue operations… no really To combine Sales, Revenue & Marketing into one mind Sales  Revenue  MarketingTo prepare for 2017 in a realistic way
  4. 4. Lets Get Warmed Up Open your iPhone’s “Settings” menu, select “Privacy”, then “Location Services”, then scroll all the way down to “System Services”. In System Services scroll all the way down to the bottom, press “Frequent Locations” and look at the “History” section. Click on one of the area names to see where you’ve been. Sales  Revenue  Marketing
  5. 5. Problem #1 Sales  Revenue  Marketing We’re not really in touch with our guests….
  6. 6. Not… Understanding their needs Knowing what they want Knowing what they desire Sales  Revenue  Marketing Knowing there true motivations
  7. 7. Problem #2 Sales  Revenue  Marketing No differentiation in the Marketplace
  8. 8. No distinction creates… What you see in the OTA’s Same pool, same beds, even the same rates No control over your hotels presentation, its story Sales  Revenue  Marketing Makes you a commodity, or at least seen as such
  9. 9. Problem #3 Sales  Revenue  Marketing Failure to communicate
  10. 10. Clarity, No clear message, no clear value for a guest No clear message to your team, no clear guest Who’s responsible, no clear expectation Sales  Revenue  Marketing Doing nothing is still a decision
  11. 11. Problem #4 Sales  Revenue  Marketing Leadership Breakdown
  12. 12. Consistency, conviction & team If to outsource What to outsource Who’s responsible Sales  Revenue  Marketing Doing nothing is still a decision
  13. 13. Problem #5 Sales  Revenue  Marketing Failure to define a profitable business model
  14. 14. Not getting your story to your guests Maximize your current resources Define your real revenue sources Assign direct responsibility and provide the three “T”s Sales  Revenue  Marketing Measure, adapt – measure, adapt - measure, adapt
  15. 15. How do we make our story? Sales  Revenue  Marketing Change how your telling it
  16. 16. Sales  Revenue  Marketing This is how we define our guests
  17. 17. This is how most see the ‘cycle’ of our guests Aquisition Pre-stay Engagement – (Stay) Sales  Revenue  Marketing Post stay
  18. 18. Sales  Revenue  Marketing Timing is as important as content
  19. 19. The new story starts with dispelling these… We’re not really in touch with our guests…. No differentiation in the marketplace Failure to communicate Sales  Revenue  Marketing Leadership breakdown Failure to define a profitable business model
  20. 20. Sales  Revenue  Marketing Digital Strategy – Guest Acquisition – The Really Short Version Stay Date Research Date(s) Timeline Prime Booking WindowResearch Period LOS January February March Departure Date
  21. 21. Facebook Examples Sales  Revenue  Marketing Custom Audiences and Look-Alike Audiences
  22. 22. Sales  Revenue  Marketing In ten days 31 new memberships Costing $1,248 Total Revenue -- $201,500 Group dropped 14 days out for entire weekend (62% of Occ) • Took arrivals list and made a custom audience • Took last years in-house list same time made a custom audience • Made a custom audience based on a radius of 150 miles (drive market) • Put all three together for an ad featuring those specific dates, (making the arrivals list a negative) Membership and Short Term Replacement
  23. 23. Sales  Revenue  Marketing Stealing Market Share and Driving Local Business Gender: Female Age: 24 - 34 Relationship Status: Single Interest: Live Music Located: Within a 5-mile radius Scheduled to Post: Friday @ 5 pm & 9 pm Meeting Initiative F&B Initiative
  24. 24. Daily & Long Term Strategies Sales  Revenue  Marketing It’s not just about campaigning…
  25. 25. Sales  Revenue  Marketing Attribution and Socials Real Value Path Analysis Report for a Non-Branded hotel client.  Of all conversions where Social was a part of the discovery process by the consumer, 75% involved other channel touchpoints (social probably doesn’t get enough credit for driving bookings that they do).  Organic Search (and to a lesser degree Paid Search) were integral parts of that journey.  Again, another reason why a unified content strategy will provide these people with a better user experience that will improve engagement and bookings – and through that should improve rankings. Social Engagement Does Not Occur In A Bubble
  26. 26. Sales  Revenue  Marketing Value is more than just the one effort  Giving content a more permanent home on an independent site page or or on blog (or YouTube) means that the content can continue to provide engagement long after the initial post.  Admittedly a challenge to find the best content formats to do this with Brand sites. 437 Sessions from Facebook
  27. 27. Now for some REALLY cool stuff… Sales  Revenue  Marketing To combine Sales, Revenue & Marketing into one mind
  28. 28. Sales  Revenue  Marketing New ways to look at Digital Marketing Data and Revenue Management Strategies
  29. 29. Sales  Revenue  Marketing Sourcing Data to Define Strategies with GTM
  30. 30. Sales  Revenue  Marketing Merging Social, Analytics and Emails to Sales
  31. 31. Sales  Revenue  Marketing Isolating under performing opportunities
  32. 32. Four Statements Websites will be a thing of the past The Search Box will go away “A.I.” will control your marketing Sales  Revenue  Marketing Video will become your only voice
  33. 33. Dynamic Websites Sales  Revenue  Marketing Websites will be a thing of the past
  34. 34. Text goes here Sales  Revenue  Marketing
  35. 35. Bots & API’s Bots, bots and bots… what’s a ‘BOT’ Google & Apple --- UNLOCKED!! Amazon Echo – From 16 to 2600 Sales  Revenue  Marketing Microsoft – first to be in ONE MILLION Cars
  36. 36. The Search Box will go away Sales  Revenue  Marketing
  37. 37. Sales  Revenue  Marketing
  38. 38. This is what we have right now Sales  Revenue  Marketing
  39. 39. Sales  Revenue  Marketing
  40. 40. Sales  Revenue  Marketing
  41. 41. This is what we’ll have next… Sales  Revenue  Marketing
  42. 42. Sales  Revenue  Marketing
  43. 43. We’re talking to Inanimate Objects “Google Assistant” – the new ‘Google Now’ “Alexa” -- Amazon Echo “Siri” – OS10 and now on Mac & Wireless ‘smart ear- buds’ Sales  Revenue  Marketing “Cortana” – Microsoft …everywhere
  44. 44. MetaSearch Sales  Revenue  Marketing “A.I.” will control your marketing
  45. 45. Some Questions Sales  Revenue  Marketing Take out your phones and text to ’22333’ the word ‘lorengray’
  46. 46. Do You Know What These Are? Chevrons – Feature spots on TripAdvisor Hotel Finder – Googles Hotel Product “3 Pack”– SERP results box on Google Sales  Revenue  Marketing Price parity and reviews matrix – Conditions used to calculate CPC and ad placement Google Local “Knowledge Graph”- Right Hand results
  47. 47. Sales  Revenue  Marketing Where’s The locations That Count
  48. 48. Google Trips App
  49. 49. Sales  Revenue  Marketing Google Launches Cross Device Tracking
  50. 50. Sales  Revenue  Marketing Urgency Messaging “x rooms left” option Real Time Prices Based on dates of travel Promotion Messaging Property Multi-property option available Brand Logo Stars Destination Messaging Dynamic Creative Template for a Real Time Bidding Display Ad Membership Link Facebook Brings DAT Mainstream
  51. 51. Sales  Revenue  Marketing “Facebook wants to become a stronger player for driving trip inspiration and travel bookings, particularly direct bookings.” — Dan Peltier With U.S. travelers spending 20 percent of their time on mobile on either the Facebook or Instagram apps, Facebook’s new Dynamic Ads for Travel product is designed specifically for hospitality and other travel brands to help them retarget consumers browsing those apps and other web sites for travel ideas and inspiration –Skift Sept 26th 2016 Facebook Lives in Mobile
  52. 52. We now have this… Sales  Revenue  Marketing
  53. 53. Sales  Revenue  Marketing
  54. 54. Video, LIVE & ‘Stuff’ Sales  Revenue  Marketing
  55. 55. Four Current Stages of Visual Engagement VR – Virtual Reality AR – Augmented Reality 360 – Flat Screen View Sales  Revenue  Marketing LIVE – ummm Yeah
  56. 56. The AR World Today Sales  Revenue  Marketing
  57. 57. The VR World Today Sales  Revenue  Marketing
  58. 58. The 3600 World Today Sales  Revenue  Marketing
  59. 59. The LIVE World Today Sales  Revenue  Marketing
  60. 60. Video, presentation, links, resources and Webinar are at… Sales  Revenue  Marketing OR
  61. 61. THANK YOU 67 @LorenGray “For the Privilege of your time”