Navigating hospitality’s revival
by DEREK CHEW
As the hospitality industry emerges from the shadows of the global pandemic, the journey to recovery requires more than traditional strategies. The bridge between tradition and innovation lies in agile commerce – a dynamic approach that not only adapts to digital trends but propels the industry forward. In a post-COVID era, where uncertainties abound, the significance of agility cannot be overstated.
MODERN STRATEGIES FOR COMMERCE EVOLUTION
Agile commerce strategies in the hospitality industry involve the application of principles to adapt quickly to changing market conditions, anticipating uncertainty, customer shopping journeys, and technological advancements. Operators that adopt an agile approach can aim to enhance customer experience, drive revenue, and stay ahead of competitors in the dynamic landscape of the hospitality sector. This translates to improved customer loyalty, more positive reviews, and a surge in bookings.
PERSONALIZED CUSTOMER EXPERIENCE
In the age of data analytics and customer insights, operators that leverage data analytics and customer insights to personalize marketing efforts across both traditional and digital channels will separate themselves from the rest. By understanding customer preferences and behaviors, hospitality businesses can tailor their marketing messages and offerings to meet individual needs, whether through targeted email campaigns, creative messaging, social media engagement, or personalized loyalty programs.
This personalized approach enhances the overall customer journey, fostering lasting connections. After all, 90% of all travelers expect a personalized experience when they book a hotel.
OMNI-CHANNEL PRESENCE
Customers consume content across multiple apps every day. Agile commerce beckons hospitality businesses to maintain a consistent presence across myriad channels. From online travel agencies (OTAs) to social media platforms, mobile apps, and physical locations, a 360-degree approach ensures marketing efforts resonate throughout the customer journey. Activating campaigns across multiple touchpoints reinforces your brand, from initial discovery to post-stay interactions.
Let’s let the stats speak for themselves:
- 76% of travelers are willing to pay more for a hotel with higher review scores.
- 75% of travelers acknowledge being influenced to visit a particular destination showcased on social media, and 46% of Gen Z and Millennials select their travel destinations based on locations they’ve discovered on Instagram.
- 51% of travelers around the world use a smartphone or other device to check in online.
- 34% are happy to book their trip with an agent, and 60% are happy to pay more as long as they get the expertise they expect.
- 41% of those surveyed in 2022 prefer booking via OTAs while 29% book via travel agents or operators. Interestingly enough, demographical data shows that people under 35 years of age are more inclined to use OTAs for booking hotel rooms.
These key statistics shed light on the ways in which consumers interact with hospitality businesses, emphasizing the need for a comprehensive and adaptable approach.
ITERATIVE APPROACH
Agile methodologies advocate for an iterative approach – continuous development and improvement. Rapid pilot-to-complete rollout enables operators to swiftly identify what works, make crucial adjustments, and elevate customer excellence. Testing and refining strategies based on real-time feedback and performance metrics empower operators to stay ahead of emerging trends, address changing consumer preferences, and optimize conversion rates.
COLLABORATIVE CROSS-FUNCTIONAL TEAMS
Your customer’s engagement doesn’t occur in a vacuum, so your marketing efforts need to integrate multiple teams across your organization to align data accuracy, campaign strategies, and validate hypotheses to achieve business goals. Agile commerce encourages collaboration between marketing, sales, IT, and other departments to streamline processes and accelerate decision-making. By breaking down silos and fostering cross-functional communication, hospitality businesses can better align marketing efforts with overall business objectives and ensure a cohesive brand experience across all touchpoints.
ADAPTABILITY TO MARKET CHANGES
In the fast-paced digital landscape, market trends can shift in the blink of an eye. Not every operator can adapt quickly, but those who can will leapfrog over many to increase their market lead. Nimble commerce equips hospitality businesses to respond swiftly to market shifts, competitor actions, and unforeseen events. From leveraging social media trends to adjusting pricing strategies based on demand dynamics, agility allows businesses to stay nimble and competitive in an ever-evolving market. Rapid changes mean not everything will be perfect, but they allow operators to validate before leaning into making significant investments.
EMBRACING THE FUTURE
By embracing agile commerce strategies, hospitality businesses can seamlessly bridge the gap between traditional and digital marketing trends. More than just a strategy, agility becomes a mindset – a commitment to innovation, adaptability, and thriving in a fiercely competitive industry landscape.
As we work toward recovery, agile commerce becomes a crucial tool for hospitality businesses, blending traditional with contemporary trends to build a dynamic and resilient industry set for lasting success.
Derek Chew is the founder of Fullmoon Digital. He is a recognized industry thought leader, digital marketer, consultant, and media strategist. He helps eCommerce and B2B companies of all sizes develop digital strategies, innovate, and grow their revenue. He lives in Winter Garden, FL.
