Tag: technology
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What is Cross-Selling?
Cross-selling is a sales technique where customers are encouraged to purchase additional or complementary products or services alongside their primary purchase. The goal is to increase revenue per customer by offering items that enhance their experience or fulfill related needs. Examples of Cross-Selling in General Cross-Selling in Hospitality In the hospitality industry, cross-selling involves promoting…
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What is Yield Management?
Yield Management is a pricing strategy used primarily in industries with perishable inventory, such as hospitality and airlines. It focuses on selling the right product (e.g., hotel room or flight seat) to the right customer at the right time, for the right price, to maximize revenue. Yield management optimizes revenue by balancing supply and demand,…
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Crafting Exceptional Guest Journeys: A Data-Driven CRM Strategy for Hotels
The best CRM strategy for a hotel focuses on using data to create personalized experiences that improve guest satisfaction and loyalty while increasing revenue. Here’s a simple CRM strategy for the hotel industry: 1. Guest Segmentation 2. Data Collection and Management 3. Personalization 4. Guest Engagement 5. Loyalty Programs 6. Omni-Channel Communication 7. Real-Time Feedback…
Reza Karbaschian 