The Relationship between social media and revenue management

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David Guilfoyle, Market Manager - UK & Ireland presented an engaging theme at HOSPA on Sept 21 around "The Relationship between Revenue Management and Social Media". The presentation focuses on the importance of social media towards building trust, engagement, credibility in order to increase brand visibility.

Technology

The relationship between
Social Media
and
Revenue Management
EDINBURGH

Presenter
David Guilfoyle
UK & Ireland Market Manager

21st September 2012

Revenue is dollars $$$
• it can easily measured
• the bottom line is never out of sight
• always under scrutiny
• accountability

Social Media is followers
• too much data
• multiple sources
• hard to measure conversions
• followers don’t always convert

ROI can be slow and difficult to track

Which ad sources do you trust most?

Source Nielsen

Source Econsultancy and Adobe, sep 5 2012

How far can you track your social
media traffic? Conversions anyone??

Source Econsultancy and Adobe, sep 5 2012

The ultimate goal of social media?
• to remind the customer why you are worth the
extra £20 versus your competitor

And persuade them to purchase
with you directly online or offline

…And efficiently managing all that
DATA DATA DATA that keeps coming
your way…..

Oh, and don’t forget your competitors
DATA too

TIP 2
Social media can be used offline

• Track all offers including offline
offers with a code

Ask your customers
where they heard about
your offer!

TIP 3
Keep your friends close and your competitors closer
• Monitor what people are saying about
your competitors
Online reputation managers should include competitors data
and comparisons

TIP 4
It’s a Team Effort, Social media management is a group effort
• Assign different team members to monitor
and respond to reviews by keyword alerts
and quality

BrandGain gives you the
power to segment
responsibility with categories
and keywords

Thank you

For more on,

hotel reputation management online,
contact me at
David.Guilfoyle@RateGain.com

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