Download - Online Reputation Management Where Are We & Where Are We Headed? Kam Desai | Founder, VP Products
Online Reputation Management
Where Are We & Where Are We Headed?
Kam Desai | Founder, VP Products
The State Of Online Reputation
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The Social World Is Only Growing
Smart phone use skyrocketingComfort with social sites growingSocial feedback growingCustomer feedback spreads like wildfire
47%
84 M visits / month
150 reads/review58% YoY
36% Travelers Consult Review Sites Before Booking2010 Trip Advisor & Cornell Hospitality Research
Attracting Guests is Becoming Trickier
1 Star Increase Allows 11% Price IncreaseWith same market share, Travelocity & Cornell Hospitality Research
1% Increase Reputation Results in .54% OccupancySTR & Cornell Hospitality Research
“Dominating Effect of Consumer Reviews Over Aggregate Consumer Ratings”
Journal of Hospitality & Tourism Research Feb 2013
About newBrandAnalytics
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Who We Are
Social Operational Intelligence… Property Specific
Findings Operational Actions
from Each Review Compset Assessments Guest Engagement
…that drives Happier Guests Better Online
Reputations Increased Revenues
Images are for display purposes only – true scores vary
Online Reputation Management:Where Are We Headed?
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Our Core Belief
ACTUAL Guest Experience Drives Reputation
Drives Revenue
The Future is NOT STAR RATINGSStar Ratings Only Tell Half The Story
Travelers are savvy enough to read reviews and not just rely on stars
The Future Is COMPREHENSIVEEvery aspect of the hotel experience matters
Distribution of online guest comments, by category
The Future Is ACTIONABLE Look beyond star ratings to uncover operational details that affect future guest satisfaction and conversion
The Future Is All About Sustaining LOYALTYDrilling deeply into guest feedback data, we find key drivers which affect loyalty and future bookings potential
The Future Is UNIFIEDA Single Composite Operational Score
Traditional Surveys Must Be Married with Social Guest Commentary
+
= True 360 Guest Satisfaction
The Future Is PRIORITIZATION by RevPAR IMPACTWhat Should We Concentrate on Operationally?
What Should We Focus On Now?
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Watch Your Detailed Operations!
…And Compare Your Operations To Your Comp Set.
Other Benchmarks That Matter
Social Engagement When deciding between two hotels, 65% of people say that seeing a
management response would sway them to book with the responding hotel–Forrester January 2013
Perception of Unsolicited Loyalty Reading reviews where a traveler states they would come back
increases confidence in the property and experience
Property 1 Property 2 Property 3# Reviews 55 46 30
# Engagements 28 5 0
% Reviews Engaged 51% 11% 0%
Property 1 Property 2 Property 3
% Will Return 70% 30% 10%
% Will Recommend 35% 25% 3%
In Conclusion
Reputation Management Starts With the Guest Experience Monitor and tune your operations constantly
Truly Understand Your Guest’s Experience Go Beyond Star Ratings and Aggregate Rankings to Fix Problems
Engage With Your Guests Engagement affects reputation and future booking decisions
Reference A Single Source of Truth Surveys and Social Feedback Must Combine
Prioritize Actions Based on Loyalty and RevPAR Impact Your portfolio can’t concentrate on everything at once