Having an effective data strategy is one of the most important challenges hospitality businesses face. If you are wondering how data can help you make better decisions, the answer is: in more ways than you think.
When you have the right information at your fingertips, you can make informed choices based on facts rather than hunches or gut feelings. And when you do that, your business will reap the benefits of those decisions in terms of increased revenue and customer satisfaction.
We are living in a world where data is more than just numbers: it's the rock to unlock revenue growth. Today, decisions rooted in data are the backbone to success.
In this article, find out how hospitality data, when used in the right way, can truly transform your revenue strategies.
Thinking about using your guest data can be scary or even difficult, but it doesn’t have to. In this video, we share a few tips on how data can become your most powerfool tool.
Hospitality data is powerful because it allows you to make better decisions for your customers. By knowing your guest preferences and behaviours, you can design packages that resonate on a personal level. Do they prefer relaxing massages or invigorating facials? Perhaps they love both.
For this specific purpose, stay-related data and ancillary sales data will provide you with valuable information.
For example, it might show a trend of a specific type of guests adding certain spa services to their reservation. Using this information, you could create a package that already brings those two services together.
By combining services intelligently, you can craft personalised packages that go beyond hospitality and become experiences.
The key is having all this data organised in one platform, this is all possible with a hotel CRM, the orchestrator of your data-driven success.
Your marketing campaigns won’t be successful if you are not taking into consideration who your customers are, where they are coming from, and what their preferences are.
Now, what type of data can be useful for this purpose? Here are some examples:
By consolidating this data into a hotel CRM, you can create marketing campaigns that truly connect with your audience. Learn more about how to use your data to create guest journeys.
For every business is important to understand who your buyer personas are and how they interact with your brand.
What kind of information do you need from your guests to deepen your knowledge about them? These are two types of data that will be useful:
Your guests are your compass, therefore customer service is the most important part of your business. It's what keeps your guests coming back, and it can make or break your reputation as a hotelier.
Customer service data is often considered too sensitive to share with employees outside of customer service departments, but this type of information can be used for much more than simply improving the quality of customer interactions.
It also has the potential to help you:
1. Ease pressure on busy departments like front desk and housekeeping by identifying trends in guest requests or issues (e.g., high occupancy rates mean more guests needing room service)
2. Prioritise training efforts based on needs identified through analysis of feedback & review data.
But how?
- Identify opportunities for improvement when comparing KPIs over time. By tapping into frequently asked questions, you pinpoint gaps in communication and service.
- Website data highlights your guest's interests such as the most-visited pages serving as a treasure of insights, showcasing what information and experiences they seek.
- Feedback and review data act as mirrors reflecting not only your strengths but also the precise areas you can improve upon.
- Loyalty-related KPIs bring the pulse of guest satisfaction to your fingertips, allowing you to consistently exceed expectations.
By now, you’ve seen how guest data can unlock opportunities to create better experiences and drive revenue. But where do you begin if you're just stepping into the world of data analytics? How do it correctly? Here are 5 best practices you can consider.
Use a single platform like a CRM or CDP to bring together guest, operational, and financial data. this unified view helps you make more accurate decisions.
Focus on data that impacts performance directly, such as revenue per available room (revpar), guest acquisition costs (gac), or net promoter score (nps). These insights guide better strategies.
Forecast trends such as seasonal demand or guest behaviors. This helps you prepare pricing strategies or predict service needs proactively.
Analytics tools can identify trends and provide recommendations without manual effort, saving time and ensuring accuracy.
Equip staff with relevant data. For example, front desk staff can personalize check-ins, while marketing teams can use guest demographics to refine campaigns.
In this age of boundless possibilities, hospitality data isn't just an asset; it's the foundation of your success story. By embracing data-driven decision-making, you can achieve revenue growth that is more than just a number, it is your commitment to guest satisfaction.
Today, success lies not just in insights, but in the actions you take based on them. Let it pave the way to revenue-enhancing transformations.
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Are you ready to increase your revenue and build lasting guest relationships? Take the first step today.