Importance of DATA & CRM
Zubin Bilimoria, CEO & Founder
The last blog that I had written gave me a sense of understanding that hoteliers are very much interested to know more about how they can use CRM effectively and the number of queries we generated was overwhelming. Therefore decided to speak more about DATA and the importance of the same in the Hospitality industry.
We all today use data in different ways. A few good examples would be our mobile device. There is so much data that is stored here. Such as phone numbers, Birthdays, Anniversary dates, Addresses etc. This data we use as an when required. Besides that, we have so many other Apps that we have installed which also allows us to share data i.e. emails, social media sites etc.
For use in the Hospitality Industry Guest Data or profile information is of extreme importance. We receive data from various sources however we do not always capture all information and take for granted that we have enough data, so why do we need more. Remember data over a period of time will start getting obsolete. Why, because data too needs to be updated and needs maintenance. Guest contact details could change, preferences would change, email address, job positions, organisations and lots more.
To make any well-informed decisions, DATA is key. That is why in our industry (Hospitality) “Data is King”. Now you may question what I'm saying, by stating that I already maintain my customer data on my PMS. Yes, very good and surely that is a place where all would reside. But that is a place where you have only guest data of guests who book directly with you. A few hoteliers also have information for queries or reservations received via other channels i.e. OTAs, Event Organisation, Corporations etc. But, the information here is only partial.
All the above data is kept in one location can be used to mine and make many informed decisions. For businesses, data mining is used to discover patterns and relationships in the data to help make better business decisions. Data mining can help spot sales trends, develop smarter marketing campaigns, and accurately predict customer loyalty.
Hoteliers need a complete Customer & Sales Ecosystem, which you will find in the BingoHSA (Hotel Sales Automation). More about the product you may request for a demo and further discussion with an appointment with our Sales Consultant.
So the ecosystem will allow you to analyze a lot more about your guest and business. Some key analysis could be customer trends, type of business, the volume of business, Repeated customer trends, trends with regards to your venues, reasons for loss of business, and further loss trends etc. There are hundreds of combinations of reports that one can drill down to. If this information is collated and used effectively you will certainly see more happy repeated customers as well as many more sales conversions taking place. Remember any data which is sitting idle is as good as dead data. But if used and managed efficiently can be a Goldmine for any business. The choice is yours!
It is important to note that time is spent in getting valid information from the data. Therefore if you are after making your business grow rapidly, there is a need to make accurate and quick decisions that can take advantage of grabbing the available opportunities promptly.
We at Bingoforge are available to help and guide you set up and manage your data more efficiently and help maximize your productivity. At Bingoforge, our Hotel Sales Automation (CRM), enables Hoteliers to store data, i.e. customer information, manage sales leads, track each query and the stage the same is in as well as forecast as you progress with a query, and much more.
In my next blog and cover the above points more in detail and especially focus on Sales CRM and its benefits to the Hospitality Industry. Do like and share with people, this information could be of use and value.