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Thank You To Our Series Partner
Bringing the Tactical and Strategic: The
Convergence of Revenue Management
and Digital Marketing
Loren Gray CHDM
Founder / CEO
Hospitality Digital
Marketing
CHRM The M is For Marketing
Sales  Revenue  Marketing
6
@LorenGray
Looking forward by looking where
we have been
Let’s Start From The Beginning….
Sales  Revenue  Marketing
What are we trying to do
Today
In an American Express survey commissioned last year, consumers
illustrated their demand for more enriched lives and personal
fulfilment through experience and learning. Over 72 per cent of
respondents said they would rather spend money on experiences
than things. Further, 88 per cent said travel is the number one
dream on their life’s bucket list, ranking higher than family or wealth.
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
Android Users
11
Sales  Revenue  Marketing
This is how we define our guests
This is how most see the ‘cycle’ of our
guests
Aquisition
Pre-stay
Engagement – (Stay)
Sales  Revenue  Marketing
Post stay
How can Revenue Management
and Digital Marketing create a
symbiotic relationship?
| Analysis
| Optimization
| Forecast
| Price
| Market
| Customer
| Distribution
| Challenges
| Consumers are
getting smarter
| The codependent
relationship with OTAs
| New market disruptors
surfacing everyday
| Customer
| Analysis
| Advertising
| Market
| Price
| Promotion
| Distribution
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
Facebook Examples
Sales  Revenue  Marketing
Custom Audiences and
Look-Alike Audiences
Sales  Revenue  Marketing
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)
Group Short Term Replacement
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
Daily & Long Term
Strategies
Sales  Revenue  Marketing
It’s not just about
campaigning…
Be careful of sharing
Exit intent by mouse movement to close the browser
Exit intent by hitting the command key to close the browser
Exit intent by being idle for 60+ seconds
WHAT ASSUMPTIONS DO
Person 1
• Born in 1948
• Grew up in England
• Married twice
• 2 children
• Successful in Business
• Wealthy
• Spends winter holidays in the Alps
• Loves dogs
Person 2
• Born in 1948
• Grew up in England
• Married twice
• 2 children
• Successful in Business
• Wealthy
• Spends winter holidays in the Alps
• Loves dogs
Profiling: What Assumptions Do
Now for some
REALLY cool stuff…
Sales  Revenue  Marketing
To combine Sales, Revenue &
Marketing into one mind
Sales  Revenue  Marketing
New ways to look at Digital Marketing Data and
Revenue Management Strategies
Sales  Revenue  Marketing
Sourcing Data to Define Strategies with GTM
Digital Marketing Budget ‘Ground Level’
Example of How a Digital Marketing Budget Should
Look Like
Understanding the Revenue & Marketing Team’s Ecosystem
Known Customer Unknown Customer
Media
Web/Mobile
Loyalty Program
Direct Marketing
Analytics
Revenue Optimization
Acquisition
Direct &
Loyalty
CRM
Reporting is “the process of organizing data into
informational summaries in order to monitor how
different areas of a business are performing.”
...Analytics is “the process of exploring data and
reports in order to extract meaningful insights, which
can be used to better understand and improve
business performance.”
The Differentiation Between Reporting & Analytics
What data should be
a part of both?
KPI’s
Framework For Successful Analytics: Unlocking Capability
Collaboration
Common
Vernacular
Integrity in Data
TransparencyBuild Trust
Enabling Business
Decisions
Continuous
Improvement
Collaboration
• Working together as one
unified team across all
departments involved with
profit optimization
• Establishing a committee to
govern the next steps of the
framework
Common Vernacular
• Common Language
• Does customer segmentation really
mean the same thing as marketing
segmentation?
• Common KPI’s
• Are stakeholders using the right KPI’s
that generate holistic views of
performance at the highest level?
• Common Goals
• Lowering the media budget to
optimize profit might not be what
marketing wants to hear for next
year’s budget, but do our KPI’s show
that this is the best way forward?
Integrity In Data
• Identify what data we have
from each respective area
that we can combine into our
data model
• Make sure the data is
accurate, consistent &
correctly represents the
common vernacular
established
• Do not practice ‘statistical
bending’
Transparency
• Be open to all consumers of
the information about what
the data “is” and what it “isn’t”
• Build visual context around
what the consumers are
looking at
• Understand what the team
has now and what the team is
trying to build for the future
• What is the forecasted
revenue expectations for any
particular channel
Build Trust
• Buy-in from stakeholders
• Trusting that the process
works holistically towards
profit optimization
• Rely on team members not
simply oversee
• Acknowledge successes and
share failures
• Own what is yours
Enable Business Decisions
• See the big picture across all
data sets being sourced; both
internal & 3rd party
• Holistic approach to
enhanced enterprise /
property decision making
• Grow your business profitably
Continuous Improvement
• What did we learn?
• How can we improve next
time around?
• Fail fast
• Team share failures and
debrief them, not hide them
• Define performance threshold
metrics with concrete decision
models
• Keep an activity log
Don’t Re-Invent The Wheel
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
Bots & API’s
Bots, bots and bots… what’s a ‘BOT’
Google & Apple --- UNLOCKED!!
Amazon Echo – From 16 to 128,000
Sales  Revenue  Marketing
Microsoft – first to be in FOUR MILLION Cars
Sales  Revenue  Marketing
Where’s
Brand.com?
The locations That Count
Sales  Revenue  Marketing
Google Launched Cross Device Tracking
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
2011
2017
Video, LIVE & ‘Stuff’
Sales  Revenue  Marketing
Four Current Stages of Visual
Engagement
VR – Virtual Reality
AR – Augmented Reality
360 – Flat Screen View
Sales  Revenue  Marketing
LIVE – ummm Yeah
The LIVE World Today
Sales  Revenue  Marketing
Links We Discussed
• Please view how Facebook is changing the internet..
• https://youtu.be/cR_XVGemAnw
• This is the whatsapp video from New York Times
• https://youtu.be/VAesMQ6VtK8
Video, presentation, links, resources
and Webinar are at…
Sales  Revenue  Marketing
https://www.HospitalityDigitalMarketing.com/rocet
OR
Bit.ly/hdmrocet
Where to Start
• Assessing what you have – resources and accesses
• What does all of those things do for you
• Who is handling each and how are they responsible for it
• How is it being measured
• What are the various contributions
• What needs to get changed
THANK YOU
52
@LorenGray
“For the Privilege of your time”

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HSMAI ROCET Houston Presentation

  • 1.
  • 2. Thank You To Our Series Partner
  • 3.
  • 4.
  • 5. Bringing the Tactical and Strategic: The Convergence of Revenue Management and Digital Marketing Loren Gray CHDM Founder / CEO Hospitality Digital Marketing
  • 6. CHRM The M is For Marketing Sales  Revenue  Marketing 6 @LorenGray
  • 7. Looking forward by looking where we have been
  • 8. Let’s Start From The Beginning…. Sales  Revenue  Marketing What are we trying to do
  • 9. Today In an American Express survey commissioned last year, consumers illustrated their demand for more enriched lives and personal fulfilment through experience and learning. Over 72 per cent of respondents said they would rather spend money on experiences than things. Further, 88 per cent said travel is the number one dream on their life’s bucket list, ranking higher than family or wealth.
  • 10. 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
  • 12. Sales  Revenue  Marketing This is how we define our guests
  • 13. This is how most see the ‘cycle’ of our guests Aquisition Pre-stay Engagement – (Stay) Sales  Revenue  Marketing Post stay
  • 14. How can Revenue Management and Digital Marketing create a symbiotic relationship? | Analysis | Optimization | Forecast | Price | Market | Customer | Distribution | Challenges | Consumers are getting smarter | The codependent relationship with OTAs | New market disruptors surfacing everyday | Customer | Analysis | Advertising | Market | Price | Promotion | Distribution
  • 15. 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
  • 16. Facebook Examples Sales  Revenue  Marketing Custom Audiences and Look-Alike Audiences
  • 17. Sales  Revenue  Marketing 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) Group Short Term Replacement
  • 18. 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
  • 19. Daily & Long Term Strategies Sales  Revenue  Marketing It’s not just about campaigning…
  • 20.
  • 21. Be careful of sharing Exit intent by mouse movement to close the browser Exit intent by hitting the command key to close the browser Exit intent by being idle for 60+ seconds
  • 22. WHAT ASSUMPTIONS DO Person 1 • Born in 1948 • Grew up in England • Married twice • 2 children • Successful in Business • Wealthy • Spends winter holidays in the Alps • Loves dogs Person 2 • Born in 1948 • Grew up in England • Married twice • 2 children • Successful in Business • Wealthy • Spends winter holidays in the Alps • Loves dogs Profiling: What Assumptions Do
  • 23. Now for some REALLY cool stuff… Sales  Revenue  Marketing To combine Sales, Revenue & Marketing into one mind
  • 24. Sales  Revenue  Marketing New ways to look at Digital Marketing Data and Revenue Management Strategies
  • 25. Sales  Revenue  Marketing Sourcing Data to Define Strategies with GTM
  • 26. Digital Marketing Budget ‘Ground Level’
  • 27. Example of How a Digital Marketing Budget Should Look Like
  • 28. Understanding the Revenue & Marketing Team’s Ecosystem Known Customer Unknown Customer Media Web/Mobile Loyalty Program Direct Marketing Analytics Revenue Optimization Acquisition Direct & Loyalty CRM
  • 29. Reporting is “the process of organizing data into informational summaries in order to monitor how different areas of a business are performing.” ...Analytics is “the process of exploring data and reports in order to extract meaningful insights, which can be used to better understand and improve business performance.” The Differentiation Between Reporting & Analytics What data should be a part of both? KPI’s
  • 30. Framework For Successful Analytics: Unlocking Capability Collaboration Common Vernacular Integrity in Data TransparencyBuild Trust Enabling Business Decisions Continuous Improvement
  • 31. Collaboration • Working together as one unified team across all departments involved with profit optimization • Establishing a committee to govern the next steps of the framework
  • 32. Common Vernacular • Common Language • Does customer segmentation really mean the same thing as marketing segmentation? • Common KPI’s • Are stakeholders using the right KPI’s that generate holistic views of performance at the highest level? • Common Goals • Lowering the media budget to optimize profit might not be what marketing wants to hear for next year’s budget, but do our KPI’s show that this is the best way forward?
  • 33. Integrity In Data • Identify what data we have from each respective area that we can combine into our data model • Make sure the data is accurate, consistent & correctly represents the common vernacular established • Do not practice ‘statistical bending’
  • 34. Transparency • Be open to all consumers of the information about what the data “is” and what it “isn’t” • Build visual context around what the consumers are looking at • Understand what the team has now and what the team is trying to build for the future • What is the forecasted revenue expectations for any particular channel
  • 35. Build Trust • Buy-in from stakeholders • Trusting that the process works holistically towards profit optimization • Rely on team members not simply oversee • Acknowledge successes and share failures • Own what is yours
  • 36. Enable Business Decisions • See the big picture across all data sets being sourced; both internal & 3rd party • Holistic approach to enhanced enterprise / property decision making • Grow your business profitably
  • 37. Continuous Improvement • What did we learn? • How can we improve next time around? • Fail fast • Team share failures and debrief them, not hide them • Define performance threshold metrics with concrete decision models • Keep an activity log
  • 39. 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
  • 40. Bots & API’s Bots, bots and bots… what’s a ‘BOT’ Google & Apple --- UNLOCKED!! Amazon Echo – From 16 to 128,000 Sales  Revenue  Marketing Microsoft – first to be in FOUR MILLION Cars
  • 41. Sales  Revenue  Marketing Where’s Brand.com? The locations That Count
  • 42. Sales  Revenue  Marketing Google Launched Cross Device Tracking
  • 43. 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
  • 44. 2011
  • 45. 2017
  • 46. Video, LIVE & ‘Stuff’ Sales  Revenue  Marketing
  • 47. Four Current Stages of Visual Engagement VR – Virtual Reality AR – Augmented Reality 360 – Flat Screen View Sales  Revenue  Marketing LIVE – ummm Yeah
  • 48. The LIVE World Today Sales  Revenue  Marketing
  • 49. Links We Discussed • Please view how Facebook is changing the internet.. • https://youtu.be/cR_XVGemAnw • This is the whatsapp video from New York Times • https://youtu.be/VAesMQ6VtK8
  • 50. Video, presentation, links, resources and Webinar are at… Sales  Revenue  Marketing https://www.HospitalityDigitalMarketing.com/rocet OR Bit.ly/hdmrocet
  • 51. Where to Start • Assessing what you have – resources and accesses • What does all of those things do for you • Who is handling each and how are they responsible for it • How is it being measured • What are the various contributions • What needs to get changed
  • 52. THANK YOU 52 @LorenGray “For the Privilege of your time”

Editor's Notes

  1. Have a good and happy life Forbes says it has the five reasons businesses fail….
  2. Stop doing this
  3. The measure adapt is the never ending story
  4. Take a total of followers in the room Tally it up and show the power of who you already have Go through some examples of the types of filters in facebook Geofencing Proximity targeting Banjo How to turn on even targeting of posts Who has access to there FB pages Why is social good for brand hotels – last unregulated place for them to put timely content up online Will have all this content online to share
  5. Don’t blitz anymore Three types of data in a radius local / visitor / traveler take business out of your competitor. Geofedia – calgary example Twitter triggers for responses or unhappy guests at your competitors Gravy targeting concert goes passing by your venue Beacons Messenger tools to push notify
  6. Direct channel discussion Mobile 58% it is the internet
  7. Metrics that span across divisions not specific to one. Example ROAS Ex- 5:1 ROAS is not making EBITA / 10:1 on a special offer rate below forecasted ADR is not yielding to successful revenue levels
  8. 4 out of 5 dentists agree – 20% disapproval rating
  9. Before any strategic development, a success goal must be defined, not a moving target on the end of a ‘stick’, or only ‘better than what we have now’
  10. Extra slide potential if we have to much content to share
  11. The opening of ‘Bots’ — Google / Apple / Amazon / Microsoft — why is this important? it allows developers to now use the voice commands of Google now / Siri / Alexa / Cortana  — googles new assistant / SIRI coming to your computer / Echo / and the internet of things coming to you home and cars…. Philly has the first Uber automous cars why is there a person behind the wheel? Whay are all the auto makers racing to build fleets of automous cars”? Henry ford said if he asked his future customers what they wanted they would have said faster horses
  12. MetaSearch Cindy Estes just published an article on the growth and hidden value of MetaSearch http://hotelmarketing.com/index.php/content/article/the_rise_of_metasearch_and_its_effect_on_hotel_distribution
  13. http://marketingland.com/google-cross-device-remarketing-launches-192819 REMEMBER TO HIT THE “PLAY” ON THE PLAY BAR AT THE BOTTOM LEFT OF THE SCREEN (USE MOUSE)
  14. Facebooks Dynamic Ad’s for Travel
  15. 100 million hours of video are being loaded onto Facebook everyday, 600 million for YouTube 3/4 of all video views are mobile over a billion active users a day on Facebook  Cisco says 75% of all mobile traffic will be video by 2020 20 minutes a day on Facebook 
  16. Facebook.com/map its almost its own TV station example Hurricane Mathew 100 million hours of video are being loaded onto Facebook everyday, 600 million for YouTube 3/4 of all video views are mobile over a billion active users a day on Facebook  Cisco says 75% of all mobile traffic will be video by 2020 20 minutes a day on Facebook  facebook.com/livemap screen shot
  17. What platforms are you using, what tools are available who has access to all of them