Today we’re talking about… the fundamentals of a successful revenue management and marketing collaboration.
NB: This is an article from Tambourine
The hotel industry talks ad nauseam about the gap between revenue management and marketing. We talk about the gap. We talk about how important it is to close the gap. We talk about the issues we face as an organization when that gap is left unattended.
Talk is cheap.
But what we don’t talk about is this—what exactly does a successful collaboration look like? What is the transformation that occurs? What happens within an organization when one or more of the parties decides, yes—let’s close that gap?
They learn together.
Closing “the gap” means closing the knowledge and educational gap between departments. This is especially challenging in larger organizations.
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What does learning together look like?
Collaborative hoteliers sit in on all the vendor calls together. How does anyone make a truly informed decision on strategy without knowing all of the possibilities? The more learning the two parties do together, the quicker they’ll develop that collaborative reflex. For example, it’s not uncommon for marketing to own the relationship with the marketing agency, but that’s not always what’s best for the organization. One of the quickest ways to close that learning gap is to ensure you plug the holes where new information often gets compartmentalized and never makes its way back to the group.
They formalize their strategies.
We all want to believe that we’re irreplaceable, but the truth is: the tools are the tools, the tech is the tech, and the more you can create a transparent approach to problem solving, the better off you’ll be as a team. Share a document where you keep track of every vendor, tool, or tactic and organize them according to the problem they solve or the goal you’re trying to achieve.
They admit what they don’t know.
When you bring two parties together, it’s hard to know where exactly those education gaps are unless someone is willing to say those three magic words, “I don’t know.” The quickest way to plug the gap is to admit you’ve got gaps. Nobody wants to admit that they don’t understand something, but marketing and revenue management are complex jobs with lots of moving pieces, lots of technology, and lots of complex strategy. Of course there are gaps! Approach every meeting with that assumption.
They leave every meeting on the same page.
Meetings should be run like fifth grade math class. Check in with your audience. “Does everyone know who this vendor is and what they do?” It’s not enough that you alone achieved clarity in the meeting, ensure that everyone in the room had the same experience.
They make decisions together.
There’s a danger to making decisions in a silo. If the recent economic situation has taught hotel marketers one thing, it’s that when times are tough, it’s nice to have a team of smart people within your organization that you can lean on.
They align around a singular goal.
Having a clear goal with clear measurements for success is half the battle. And that level of clarity starts at the top. Before that monthly report, before the launch of that first campaign, there should have been a meeting where everyone agreed—”Yes, this is the goal. These are the tactics. And this is what success looks like.”
