My Issuu- answers the first question of the exam
Exercise 2: Answering the questions about digital IQ:
1. Digital IQ and Revenue Growth- relationship
Because there is no longer market segmentation, but rather a broad group of consumers, whose habits have changed to being more mobile, technology has had to keep up with the consumer. Consumers are no longer interested in calling a hotel to book a room, or sit on the internet searching, but rather they want the room to come to them when they need it. Hence, for hotels, that have understood this principle key to the potential consumer, by having a high digital IQ which regularly involves the consumer and interacts with the consumer, the hotel has more chances gaining customer loyalty and increasing their revenues.
2. Digital IQ- what it measures and why is it important?
Digital IQ measures the capacity of an organization on the basis of their social media strategy, site interface, mobile commerce capabilities, and digital marketing.Digital IQ in the hospitality industry refers to how capable a hotel is in using digital media to inform, attract and keep a potential customer.In the case of digital IQ that a hotel should aim to have, the obstacle or the challenge, is how fast it changes and how fast new methods are developed. This requires the hotel to have staff that are fast, and can keep up with the ongoing race for technology. It also requires that the staff must train their creativity, in order for the hotel to have something the others do not and in this case creativity is their biggest competitive advantage. As mentioned above, this allows the hotel to be up to date with changing trends and consumers, and make the best use of being innovative and up to date with their consumer.
3. The four categories of digital IQ
In digital marketing, it can be said that there are 4 main sectors, each composed of different components as highlighted below:
1. Mobile-andorid, blackberry, Iphone, Ipad applications, being innovative through geo-local and sms systems etc…
2. Websites- loyalty programs, integrating the sites with social media, etc…
3. Social Media- facebook, youtube, twitter, pinterest etc…
4. Digital Marketing- search engines, emails, blogs, advertising innovation etc…
If implemented correctly, monitored constantly and with adequate and knowledgeable people working on these four sectors, a hotel will be considered to have a higher digital IQ than others, and will be attracting more guests, which equals high occupancy rate and increase value for shareholders, so a win-win situation for all.
Exercise 3: Slideshare on Customer Discovery Path
Exercise 4: SoLoMo
Predictive Marketing- it is a technique used to identify customers given their demographic characteristics or past purchase behavior, are highly likely to purchase a given product. When a customer is nearby, e.g Sephora, they send a push notification with a discount available only in THAT store near them.
5 elements for a successful SoLoMo
Start with the audience, not the technology: novelty has a limited window of value, but real benefits keep people coming back for more. Identify what people actually care about, and build the technology around that.
Sharing must be about audience benefit: if you want people to publicly endorse your brand, make sure you offer them something compelling in return for their endorsement. The question to ask yourself is, ‘What’s in it for them?’, and not just ‘What’s in it for my brand?
Add value through utility: no-one will turn down a discount, but people will go out of their way to get additional benefits. Offer people what they really need, not just a cheaper version of what they already know they want.
Keep it simple: this is the critical rule if you want widespread adoption. The number one reason for poor SoLoMo performance is asking people to do too much; any more than ’2 steps to benefit’, and you’ll lose the vast majority of potential participants.
Build relationships, not spectacle: 97% off a full-day spa package is great, but people’s attention is quickly diverted when tomorrow’s deal offers 98% off a meal at that Michelin-star restaurant. The real value in SoLoMo lies in connecting with people, exchanging mutual value, and building relationships over time.
the 5 elements are taken from this website.
Exercise 5:
Definition of predictive marketing: see previous section
Google Hotel Finder- Google finder is a new tool that uses location Filters (with drawing shapes, dates for your stay, price point filters and hotel ratings & user rating filters to find hotels. You can create lists of your favorite hotels, compare prices etc... It shows you a detailed map of the location you searched for and will show you different hotels you can click on and add in your shortlist. It also shows you whether the price for the hotel changes based on seasonality or for that same period.
Google Hotel Finder is a sort of booking aggregator, that allows the consumer to compare prices and hotels. It defies the purpose of hotels trying to improve and maximize direct booking. Google Hotel Finder is still in the beta phase, but it is said that if it works well, this will be an additional headache for hoteliers, as many people will be interested in using Google Hotel Finder as an aggregator.
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