Revolutionizing Hospitality Marketing: Improving Demand, Leveraging Advanced Analytics

Author
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2023

Overview

Embark on a transformative journey as a long standing hospitality company embraces modernization to engage a new generation of customers. This case study explores the challenges faced by the company, including a traditional, siloed approach to marketing rooted in outdated systems. Discover the solution: BLEND's comprehensive assessment of capabilities and the development of a marketing roadmap. Through a strategic blend of revising data agreements, upgrading predictive targeting models, and piloting multi-channel campaigns, this company began their transformation journey. The impact was profound, with CTO and CMO approval of funding for implementation, over $1 million in cost savings from eliminating low-performing and redundant data sources, a 60% improvement in model performance, and an astounding $30 million annual increase in revenue as a result of analytical initiatives completed through roadmap implementation. Witness the power of advanced analytics in revolutionizing the hospitality industry and achieving unprecedented levels of success.

Challenge

The newly appointed CMO of this longstanding hospitality company aimed to revamp its operations and strategies to better engage with the emerging generation of customers. The company's culture was dominated by an outdated, compartmentalized marketing approach that relied heavily on antiquated systems. There was a clear need for transformation and modernization.

Solution

Over a swift two-month period, our team conducted a thorough evaluation of the company's capabilities. This review encompassed strategy, performance and ROI, campaign and technical capabilities, as well as analytics.

Following this assessment, we recommended a comprehensive program roadmap. Our solution included revising redundant third-party data agreements, enhancing predictive targeting models, and initiating multi-channel campaign pilots.

Additionally, we developed and implemented improved predictive models across all stages of the prospect lifecycle, providing a more targeted and efficient approach to customer engagement.

Impact

The CTO and CMO approved the necessary funding for the implementation of these new strategies. The results were tremendous and multifaceted.
Firstly, the company achieved cost savings exceeding $1 million by eliminating low-performing and redundant data sources.

Secondly, the performance of the predictive models improved by a staggering 60%, which led to more accurate targeting and higher conversion rates.

Finally, the implementation of the analytical initiatives outlined in the roadmap resulted in an annual revenue increase of $30 million. This clearly demonstrated the immense value and effectiveness of the strategic changes over two months.

Key Data Points

> $1MM
Cost savings
60%
improvement in predictive model performance
$30MM
revenue increase

Intrigued by the accomplishments highlighted in this case study? Do you see parallels with your own organization's challenges? At Blend, we are experts in delivering clear, concise and engaging solutions that meet your unique business needs. We're eager to apply our strategic thinking and domain expertise to help transform your business operations, just as we did for our esteemed client. Reach out to us today – let's collaborate to drive impactful business results and craft your own success story. Contact us today.