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It's no secret that the hospitality industry, like many business segments, will face economic challenges in 2009. To help hotels survive, and perhaps even thrive, in a down economy, Deloitte has developed a report called "Weathering the Economic Storm." The company advises that hoteliers focus their efforts on sales and marketing, specifically as it relates to reconnecting with customers. Among their tips:
- Optimizing performance management capabilities, which calls for accountability and the implementation of control metrics
- Improving spend effectiveness across sales and marketing avenues, which includes identifying emerging cost-effective channels and shopping for the best deals
- Reevaluating customer segments and touch-points, which can enable marketing and sales functions to target and reach customers in a more cost-effective and efficient manner
- Focusing loyalty programs on value, which can help hoteliers connect on an emotional level with their guests, stay competitive, and be innovative
For the complete report, click here.
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How to Stay Relevant in Lean Economic Times
Jan 5, 2009It's no secret that the hospitality industry, like many business segments, will face economic challenges in 2009. To help hotels survive, and perhaps even thrive, in a down economy, Deloitte has developed a report called "Weathering the Economic Storm." The company advises that hoteliers focus their efforts on sales and marketing, specifically as it relates to reconnecting with customers. Among their tips:
- Optimizing performance management capabilities, which calls for accountability and the implementation of control metrics
- Improving spend effectiveness across sales and marketing avenues, which includes identifying emerging cost-effective channels and shopping for the best deals
- Reevaluating customer segments and touch-points, which can enable marketing and sales functions to target and reach customers in a more cost-effective and efficient manner
- Focusing loyalty programs on value, which can help hoteliers connect on an emotional level with their guests, stay competitive, and be innovative
For the complete report, click here.
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