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Create a value exchange so customers want to give you their data
Manage episode 388810651 series 3526992
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Liam and Sam Brown discuss the concept of value exchange in the hospitality industry. They highlight the importance of capturing customer data and offering something of genuine value in return.
Sam shares examples of successful value exchanges, such as birthday clubs and personalised offers. He emphasises the need for a clear narrative and internal communication within the business. Sam also provides advice on choosing a value exchange that aligns with the brand and offers quick wins for time-poor operators to start collecting and using data effectively.
Takeaways
Hospitality operators should capture customer data and offer something of value in return.
A clear narrative and internal communication are essential for a successful value exchange.
Start with a simple value exchange that aligns with the brand and track the results.
Regular communication with customers is crucial for building loyalty and increasing revenue.
Chapters
00:00 Introduction and Congratulating Airship and Toggle
01:03 Busy Periods for Airship and Toggle
03:24 Introduction to Value Exchange
04:18 Hospitality's Data Collection and Marketing Challenges
05:47 Importance of Customer Engagement and Retention
08:16 Creating a Value Exchange
09:09 Examples of Value Exchange
12:09 Choosing a Value Exchange
13:15 Commercially Advantageous Value Exchange
17:16 Simplicity and Effectiveness of Value Exchange
20:59 Importance of Regular Communication with Customers
21:29 Quick Wins for Collecting and Using Data
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