Social Intelligence To Shape Hospitality Industry Marketing

Modern travelers do more than packing a suitcase when they want to travel. The travel review sites such as home sharing services and fare aggregator engines have become part of a travelers plan, experience, and a platform to evaluate their trips. Social media has become a critical part of each phase of the travel experience. For instance, consumers can share photos from their excursions, use social channels to seek advice on locations for honeymoon from people with previous experience, or voice comments about the five-star meal they enjoyed at a resort.

 

 

Social media is the ultimate forum for consumer opinions because it offers the users a wealth of unbiased insights to marketers on the different factors that influence consumers to travel decisions. Social media gives the hotel owners a clear idea about brand loyalty and the factors that would influence consumers to love a brand. Therefore, it is the task of hotel marketers and hospitality brands to understand customers’ opinions, affinities, conversations, and trends as expressed on social media to inform business strategies.

 

 

Recent reports show that there are three ways that hospitality industry players can use social media insights to shape hospitality marketing. One of the ways is to understand the travelers and what they like. It involves understanding the type of travelers your hotel attracts and ensuring on-target marketing efforts. Women’s social conversations focus on family-friendly travel which could encourage an extended stay.

The Career of Stephen J. Rotella as an Executive

Stephen J. Rotella is an individual who has had a long and fruitful career. He has held several executive positions and currently works for StoneCastle Partners LLC as its President. Before being hired by the company, he was executive vice president at JP Morgan Chase and the Chase Manhattan Mortgage Corporation’s CEO. He was a member of JP Morgan’s executive committee and oversaw the community development staff of the JP Morgan Chase’s. Stephen Rotella also worked for Washington Mutual where he was president and COO from January 2005 to October 2008. He was executive in charge of supervising the company’s retail bank, credit card, mortgage, and commercial business lines as well is the management of its technology team. At JP Morgan Chase, was chief operating officer of ots home lending business from 1998 to 2001, subsequently being promoted to be the Chase Home Finance’s head in July 2003. From 1991 to 1998, he was an employee of the Chase Manhattan Mortgage Company, and he served as its executive vice president of servicing.

Before being hired by Chase, Stephen worked in the mutual funds, retail brokerage, and technology consulting industries.  Rotella served as a director and chairperson of BalletMet, which is one of the largest Columbus-based art companies. He was also a board member of the Mortgage Bankers Association. He has served on the Boards of ArtsFund and Youthcare in Seattle and the Seattle Foundation and currently serves as Chair of the Board of LIFT Communities, which is dedicated to breaking the cycle of poverty for parents with young children.

Stephen graduated in 1975 from the State University of New York with a Bachelor’s degree in Economics. He later furthered his studies at the State University of New York – Albany and was awarded an MBA in Finance and Information Systems.

Customer Retention Strategies That Will Boost Your Marketing

Research shows that it costs seven times more to attract new clients than it does to retain them. Furthermore, if you retain only five percent of your consumers every year, you can boost your profits by 125 percent. Retention techniques pay off in the long run and assist you to build a sound business over time.

 

Creating an effective retention strategy will help you convert new customers into long-term ones. To change the focus from acquisition to retention, consider the following techniques:

 

1) Integrate CRM

 

A Customer Relationship Management System (CRM) allows you to manage your company’s relationships with potential and existing customers. This system records several customer interactions such as those over social media, email, phone calls or other channels, giving managers the ability to track customer activities.

 

2) Measure Customer Value

 

Understanding customer value is one of the most important things to do if you want to grow your business. A vast knowledge of the lifetime value of every individual customer can give you a clear view of the value of your business.

 

Tracking, measuring and monitoring customer value can help you know which customers to invest in, identify potential and new customers and determine the unprofitable customers.

 

3) Focus on Excellent Customer Service

 

Quality customer service has a huge impact on customer-oriented businesses, and it is a great way of retaining existing customers. Make customer service a priority for all employees and empower them to resolve customer problems promptly. Consumers switch companies based on prices, but excellent service earns your company long-term clients.

 

4) Interact on Social Media

 

Customer interaction on social media is a crucial element of a robust customer service plan for many companies today. Chief marketing officers need to actively listen, engage and respond to their clients on various social media platforms.

 

Having a frequent social media presence is important. Additionally, use selected social media platforms that will work out for you instead of trying to be everywhere at once.

 

 

Trending Business Marketing Strategies

Technology is something that is tremendously changed the landscape when it comes to business marketing, as just about everything has shifted to the internet. Each and every year, companies attempt to improve upon their overall marketing strategy utilizing the variety of marketing techniques. this year has been no different, as a massive amount of companies have up their games in terms of reaching potential customers on the internet. Social networking is something that has completely changed the game when it comes to marketing online, as just about every single company out there today has a very strong social media and networking campaign. One of the changes that has occurred this year, however, is the way that they run these social media accounts. On websites such as Twitter, Facebook, Instagram and a host of other social media networks, the new thing today is creating a system of automation on the various networks that they utilize. Perhaps the biggest benefit of using these types of algorithms in business is the fact that these companies no longer have to use an employee and allocate a lot of time to running their social media networks. Rather, they take these algorithms and automate them to update each social media website that they are using, according to whatever strategy they have employed.

While some social media platforms have been fairly rigid in the past, there are a lot more options for personalization these days, which many businesses are starting to take full advantage of. This allows them to stand out, connect with their fans and customers, and provides them with a much more unique and diversified landscape to work with. Another thing that has continued to grow in business and marketing, is the widespread use of apps. While apps have already been around in widely used over the last several years, major changes have been made that have increase the overall experience that a user receives. This includes better usability on various devices, including smartphones and tablets, which are devices that many people spend the bulk of their time using each and every day. This is a great way to reach customers and potential customers, in an environment that is more appealing to the user experience. Business marketing is something that is continually evolving, but thanks to the ever expanding world of technology that we live in, things are getting much more convenient for companies all over the globe.

 

Helping Others

There are a lot of people today who want to make an impact on the world. Although many people think the best way to do this is through charity, starting a business can be a great idea as well. If you want to help others, you need to understand what people need in the market. If you can provide a product or service to help you get to the next level, you will be able to grow your business. Operating an online business is one of the best things that anyone can do in order to take their finances to a new level. Over time, a lot of people are excited about how they can grow their company with the internet and its resources.

 

Marketing

 

Getting more customers is essential to long term growth in the market. If you want to expand your business, there are a lot of ways that you can do this. One of the best is to invest your time and money into a marketing plan that makes sense with your long term growth model. A lot of people have had success with this, and if you want to grow your business this is a great way to start. A lot of people are excited about all of the technology that is coming in the future. If you want to change the world, start by offering a product or a service that is needed. You will be able to make positive impact on the world faster than you think.

 

Final Thoughts

 

Over the next couple of years, more people than ever before will be investing in their futures with their own company. Many experts believe that first-time business owners will start increasing at a faster rate. There are more people interested in starting a company than ever before, and the internet makes it easy to get accomplished. Start by investing in your customers and marketing to them. This is one of the best ways to get ahead in business.

 

The Battering Accomplishments of Kenneth Goodgame

Mr Goodgame is an accomplished captain of industry. He is the current SVP CMO at True Value Hardware Corporation. Before that, he was working for Black and Decker. During his time there, he has accomplished quite a lot. For instance, he initiated the pay-to-play program of vendor supported advertising. Since he joined the company, he also managed to get it to appear on national television. It was the first time that had happened in almost a decade. Additionally, he improved savings to about 10% annually from a measly 2%.

One of the strategies that Goodgame uses is utilizing the end cap. Kenneth Goodgame understands how important it is to have a strong end cap game. He has managed to boost customer purchases of the company’s products by leveraging end caps.
Some of the True Value Changes

Under Goodgame’s leadership, the company was able to adjust its merchandising and pricing strategy. One of the things the company has done is to reduce opening price points. According to the company, there is no money to be made there. The company wanted to differentiate itself from discount competitors while offering clients more value.

Another strategy that True Value adopted was adding regional buyers. The move was aimed at making assortment relevant while boosting the productivity of products. The company developed a tool called the Geo-Demographic Analysis. It is aimed at measuring the dynamics of trade areas.

The move was a huge change from past strategies where Basic, Expanded, and Dominant were the only assortment choices. However, the company had ignored the geographic requirements for its retailers. The new move saw the company focus more on meeting the geographic needs of its consumers such as rural, suburban, and urban.

Another strategy that the company adopted was getting innovative products at the end caps. Before Kenneth Goodgame, the company did not pay much attention to innovativeness. However, since the adoption of the strategy, it is quite clear that will change. Although the company always has these items, they have not been given the visibility they deserved. To encourage shoppers to buy these items, they would be offered at a discount.

Another strategy that Goodgame adopted in his end cap game was to leverage seasons. Since requirements change by season, he knew that would affect sales in a big way. Thus, it ensures that the stores are making sales even in seasons when sales go low.

Since True Value announced a new team, the company has moved quite far. While it used to be a market leader, the new team should get it back to the top in just a short while. Goodgame and the new top-tier team at True Value were the extra jolts that the company needed. The company’s forecast has been quite positive in recent times.

Keys to Marketing to a Niche Audience

According to a recent article in Huffington Post, marketing to a niche market online is different than marketing a product that the general public will want. If you are going to sell these products, then you need to know where your target audience is and how to reach them effectively. Make no mistake about it, others are also trying to reach them with similar products.

Content marketing still reigns supreme in niche marketing. The marketer, however, must find the customer’s sweet spot and stay there or the message is simply lost. Keep the content interesting by presenting real life problems and show how your product solves the problem. Choose to go directly to where your audience can relate to what you are saying.

Make sure that you are monitoring what customers are saying about you, your product and your company. If you do not do the monitoring personally, then empower your team to take action on your behalf.

PCP advertising is especially useful to niche marketers. Make sure that you are monitoring your ads carefully to make sure that they are getting the desired results. Instantly remove any ads that are not producing results, as they are wasting you money.

Network with others in similar fields. Consider writing guest blogs, as they will introduce you to each other’s clients. Promoting each other can be very effective for both of you, and you can use it to cut down on advertising costs.

While your website needs a strong call-to-action, you also need to get the customer to give you their email address. Then, those who leave without making a purchase can be reengaged later through an email.

Joining affiliate marketing programs that are already reaching your target audience can be very effective. While you may have to pay a sizable start-up cost, the benefits may be worth it in the long run as more people see your ads.

As a marketer trying to reach a niche audience, you need to use a strong marketing game. You will not be an overnight wonder in most cases, but slowly you will gain a sizable market share if you keep your advertising focused on reaching your target audience.

The Right Marketing Solutions

Marketing has changed so many ways in the last decade. Small business executives and big businesses leaders are making a conscious decision to reach customers in the way that best fits the needs of the consumer. More people are turning away from television and using their smart devices for Entertainment.

 

Consumers of today are also leaving things like paperback books and magazines behind for electronic reading material. This is why it has become important for executives to put more time into attracting customers with social media and online banners. This has become one of the more effective ways for executives to advertise. The great thing about this type of advertising is that it doesn’t cost consumers any extra time to check out these ads. In many cases the ads are shown through advertisement in apps that consumers are already using.

 

Social media is also one of the best

marketing trends of this time. There are a lot of people that are going to embrace this type of marketing because much of the buzz about products will come from friends. That is how so many people get the chance to hear about new products. They are hearing from friends on social networks about new products. This is giving people the ability to actually get recommendations that there friends have made. This is much more effective for businesses because this customers are more likely to respond when a friend has made the recommendation.

 

The great thing about marketing though digital methods is the unlimited number of customers that can be reached. There are some people that have not realized this just yet, but this will certainly change in time. This is a very effective method of marketing, and many entrepreneurs will enjoy it because it is a method that does not cost anything. It is one of the most convenient ways to spread the word about products without spending a fortune on the cost of advertising.

 

Commercials are still being played on television, but it is not beneficial for companies to engage in this type of marketing if their customer base is largely composed of online shoppers. It does no good to make an attempt to lure online shoppers with off-line advertising. Online marketing solutions works better.

Labels and Love: Product Packaging That Makes Our Heart Go THUD!

We all know never to judge a book by its cover, but you have to admit, the books with the eye-catching covers always make their way into your hand, opposite your pumpkin spice latte during your unfamiliar brisk weather stroll through Barnes & Noble. So what if we are attracted to mentally stimulating objects, people, and places? Well for starters it means that smart marketers will look to lure us with visually striking design that appeals to our very heart strings.

 

It’s no secret that we all like to be paired with good-looking partners and likewise, wear good looking clothing but we can use other ways of assigning value to the like. For instance, its also important to have a partner that is funny, caring, and gainfully employed. This means that looks are acceptable at sub-par levels if made up for in other areas. Clothing that is high in cost assigns a higher value to what could ultimately be described as rags. When we begin to explore things like food, beauty products, and electronics or anything else that is seemingly one dimensional and/or finite in its nature, we have been conditioned to think that what we see is what we get. In this situation, there are no other attributes to these items that make them valuable to us. So its best to love, and not just like, what we see. Marketers are hamming this up and rightfully so.

 

Think back to the last time you purchased a new brand of shampoo without prior suggestion by anyone. Just on the spot, spur of the moment- what was the first thing you looked for as you scanned the overwhelming selection? Was it color? Size or bottle shape? I can assure you with astounding certainty that you weren’t looking for “volumizing” before your eyes were drawn to a particular visual identifier.

 

With advances in digital marketing techniques, the market for product and graphic design will continue to grow even faster to accommodate both digital and in-person marketing needs. With millennials making up larger portions of the consumer market and their choices being based on price and digital footprint, original design geared towards individuality is all dolled up and making for a deep consumer love affair.

Using YouTube to Gain Attention

In a recent article on buzzfeed news, a young woman known to her fans as “YazTheSpaz” is gaining attention on Youtube. In the article it states that she was teaching traditional hijab fashion. Yaz has her own product line and is looking to grow her business. With 68,000 followers, and articles being written about her I’m sure she will have no problem doing just that.
Many people have gained hundreds of thousands of fans on Facebook, twitter, YouTube and other social media sites by demonstrating useful information, giving fashion advice, or just being your average person having some sort of silly experience. Take the lady with the chewbacca mask for instance. She was an overnight sensation due do simply posting a video of herself enjoying a product. Her laughter was so contagious that so became her video. This makes me think, “couldn’t your average person also build a business, and gain attention by doing Youtube videos?” I believe the answer is, “of course you can”.
The video simply has to gain the viewers attention. Most videos which “go viral” are really funny, really cute, extremely great information or tutorials, have something to do with an amazing looking recipe, or pull your heart strings so hard you could play guitar on them. The key is figuring out which of those categories your best at performing in and what exactly you are trying to “sell” to your fans. The next step is filming, and editing something so great that your friends and family share it simply because they like it, and not because they love you. In the case of Yaz, she is not only showing people how to do a stylish hijab, but marketing her brand and bringing positive attention to her faith. She has identified her category, made good informational videos, and gained a bunch of followers for it. I personally believe that a great cat video could sell almost anything, but that’s just me!