Guest Loyalty stands and falls with the Use of your Data!By Michael Toedt - Managing Partner and CEO at TS&C GmbH
The fight for guests and their loyalty manifests in the booking behavior. In other words, guest loyalty stands or falls with the guest data. Only if you know your guests, their needs and expectations and how much they are willing to pay, will you be able to go up against the OTAs. Success does not depend on the size of a company, but on the management's ability to adapt to the changing environment. In the end, it is all about Central Data Management (CDM).
Whereas Customer Relationship Management (CRM) focuses on the acquisition, development and retention of customer relationships, Central Data Management encompasses all aspects. CDM is about profitable use of data, whereas CRM is just a small aspect of the bigger picture.
CDM means focusing the entire organization on the needs of the customer, tailoring all products and services to the company's specific target group and personalizing all communication. CDM is the next evolutionary stage in marketing. It brings individuality to a uniform mass.
The goal is to implement the 7 P's of Service Marketing (Product, Price, Place, Promotion, People, Processes, Physical Evidence). Modern data management shows the way.
It is, however, not sufficient to cleanse and link PMS and e-mail data. Other essential data sources such as the cash register system, the restaurant booking system, the feedback management system, the proprietary website and not to forget WLAN must also be included. Only when these data sources are combined comprehensive information about the guest can be obtained. Bits and pieces from individual sources are insignificant. CDM enables to create a complete guest profile in one central source.
Dr. Michael Toedt is the founder and CEO of Toedt, Dr. Selk & Coll. GmbH, a leading Big Data Marketing and CRM company. Operating at the intersection of business and technology, he helps hoteliers with the software dailypoint™ to use the tremendous increase of data in order to become data-centric. Dr. Toedt has over 25 years of experience in operations, technology and marketing. He is the author of several books (among others “Big Data – Challenges for the Hospitality Industry” (2013) and “Data Revolution – How Big Data Will Change the Way of Doing Business” (2014) and his articles are published by journals on a regular basis. Dr. Toedt holds a doctoral degree in management science. He is assistant lecturer at the University of Applied Sciences of Munich for the subject “Customer Relationship Management in Tourism” and as guest lecturer at various universities such as the University of Applied Sciences of Bad Honnef, Kempten or NDS Hôtelleriesuisse. In the past, Dr. Toedt was regional vice president of SANSORA INTERNATIONAL, a subsidiary company of the Schoerghuber corporate group and accompanied many hotel associations during the production of their central customer and marketing data base. He was raised in his parents’ hotel and after completing a mercantile apprenticeship he graduated as cook to be employed in the 5-stars restaurant Hotel Koenigshof in Munich. 1995 he began his business economics studies at the University of Applied Sciences in Munich. During this time he visited the Cornell University, NY and is now President of the German Chapter.
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