Increase Revenues By Giving Frontline Staff Personalization Superpowers
There is perhaps no other topic in 21st century commerce that has an equal abundance of evidence supporting its value than personalization. A 2019 study from McKinsey found that organizations implementing personalized recommendations realized 5-15% increases in revenue and 10-30% improvements in marketing spend efficiency, on average. Online behemoths such as Amazon estimate that 35% of their revenue can be attributed to their personalization engine, while tech-savvy OTAs have been pushing aggressively on personalization for years and reaping the benefits.
When it comes to driving RevPAR in 2021 and beyond, repeat stays will be key which means that guest experience is more of an imperative than ever. This is particularly crucial as hoteliers rehire staff in anticipation of the return of demand. As Oracle research soberly reminds us, 89% of consumers who switch their business to a competitor do so because of a poor experience. Arming frontline staff with real-time insights is a key way to ensure consistently excellent guest experiences.
As EHL outlines in their recent 2021 Top Hospitality Industry Trends, staycations are likely to continue even as markets open back up, creating an opportunity to drive guests back to visit again. Rounding out the top three on EHL’s trend list are “Digitalized guest experiences & Contactless technology” and — you guessed it — “Personalization.” This starts to paint quite a technology-led picture, but what about the personal touch and service that hoteliers are known for?
At Regulr we’re big believers in the power of the buzziest words of the last 20 years: Big Data. However, we’re even bigger believers in the power of combining Big Data and AI-driven insights with human execution. There’s contextual nuance in the offline world when humans are face-to-face that even the most sophisticated AI can’t (yet) detect. Body language, real-time context at or around the property, and other subtleties abound which might change how you’d want to deliver the ‘what’ that personalization algorithms are recommending.
Regulr combines the best of both worlds by bringing real-time insights based on guest preferences and prior stay history directly to the fingertips of frontline staff the moment a guest arrives at the property. Equally importantly, in the year 2021, consumer awareness of how their data is used and misused by big digital platforms is at an all-time high which is why we’ve built Regulr to be fully opt-in to future-proof against evolving data privacy regulations.
Hoteliers are a hearty bunch who know how to live through volatility and adapt to new guest demands. That’s why we’re so excited to be doing what we’re doing: helping hoteliers put the ‘person’ back in Personalization.
To see Regulr in action watch our Hulu commercial here!