Imagine a beautifully crafted mosaic, where each tile – unique in shape, color, and texture – comes together to form a breathtaking masterpiece. Building a first-party strategy for your hotel revenue is a lot like creating this mosaic.
NB: This is an article from Revinate
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Each piece of information, whether it’s guest data from booking platforms, insights gathered from your CRM, or feedback from surveys, contributes to a rich and comprehensive understanding of guest preferences and behaviors. When these diverse data points are thoughtfully combined, they create a vibrant and intricate portrait that can significantly enhance your marketing efforts and revenue strategies.
Just as a mosaic reveals its beauty through the careful arrangement of individual tiles, a well-constructed data strategy illuminates a clear path to maximizing both guest satisfaction and revenue. The beauty of a mosaic isn’t random; tiles are not placed haphazardly or by chance. Instead, each one is intentionally planned out in advance. A first-party data strategy operates the same way. You must carefully choose what tools and data sources will make up your ultimate strategy. By prioritizing first-party data, you can foster a deeper connection with your guests and build trust – essential for long-term loyalty – without sacrificing the effectiveness of your marketing campaigns.
“Heads in beds” is no longer the mantra of hotel revenue management. Today, understanding and leveraging guest data is critical to unlocking the full potential of Total RevPAR. This approach enables hoteliers to design personalized experiences that resonate with guests, drive higher revenue, and ensure satisfaction throughout their stay.
We’ll walk you through how to assemble first-party and zero-party data into a robust, revenue-generating strategy, and help you create picture-perfect experiences for your guests.
Beyond the basics: Crafting a data-led strategy
You’ve heard it countless times: “Hoteliers need to start gathering first-party data.” Whether it’s at conferences, in blog posts, or on podcasts, the message is clear. But sometimes, we’ve all been guilty of skipping over the substance of what that actually means.
So here’s a quick primer. First-party data is any data that your guests share directly with you – it includes purchase history, stay data, email addresses, web browsing behavior on your brand site, etc. Zero-party data is a sub-category of first-party data, and includes data that your guests share with you in exchange for the promise of a more personalized experience, such as preferences and survey results. Consider too if you are asking guests for their permission to use their data at the property, group or global level. Both types of data are critical for personalization.
