How Big Data Will Change Hotel Marketing in 2016
Traditionally, hotels only used their own historic data, static rate shopping comparisons, and on-the-books data for booking trends to provide competitive insights. This type of data also served as the basis for financial modeling and forecasting decisions.
That began to change in 2015.
Hotels evolved from using only historic data to using the real-time and forward-looking data that’s now available to improve their revenue and marketing practices.
The insight from Big Data is helping hotels improve what they are already doing in critical functions like pricing and distribution, as well as making their marketing in channels like Google, Expedia, TripAdvisor, email and social marketing perform better.
In 2015, hotel marketing and merchandising advanced with the ability to identify active shoppers by demographic profiles and source market geography with Big Data sources beyond the hotel’s website.
Now hotels can package web promotions, email offers, social media, display ads and OTA ads to the right demographics that are shopping across the web for future hotel stays.
In 2016 Big Data will continue to evolve from being just a “buzzword,” or a theory, to something more practical. For hotel marketing directors, it’s about being able to take action on more than gut feel with metrics and results behind it.
This trend will accelerate differently across various segments of the industry in 2016 with larger independent hotels and smaller chains likely leading the way.
Why? These organizations have the greatest need to innovative and grow profitability in the face of the higher third-party fees they pay and a lack of access to a broader distribution platform. Also, they can move more quickly because of their size.
It will be exciting to see the changes unfold in 2016.
Excerpt from Tnooz.com article, quoting nSight Founder Rich Maradik.