February 3, 2023

Check-in with data. Check out with revenue

The pandemic took a colossal toll on almost all industries, with the hospitality industry bearing the maximum brunt due to travel restrictions. The rise in tourism, business travel, and events post-pandemic is welcome, but the road to recovery is not easy, especially with the lack of skilled labor and rising prices eating into profit margins.

Sit tight; it's a bumpy road ahead!

In such a challenging scenario, how can hotels and lodges find ways to increase room occupancy by 20% to 30%, perhaps even more? Ever wondered why your regular guests have suddenly stopped visiting your hotels? With so many aggregators and OTAs available, travelers today are spoilt with choices. In such a competitive landscape, converting potential customers (or even sleeping customers) to loyal customers is a daunting task. How can you get closer to your guests to determine their preferences and design tailored loyalty or reward programs through effective customer segmentation that make them choose you over and over again? There’s an urgent need for hotels and lodges to:

- Spot potential churn, the key drivers, and act quickly and retain.

- Know which of your guests will respond to what types of messages.

- Determine how to acquire more customers like your best ones.

- Know the potential lifetime value of your customers and what to upsell and cross-sell them.

The only way to win and win big is by unlocking the real value in your data, including external data.

The crisis that started with COVID-19 can also create the opportunity—opportunity to leapfrog the competition and grow big, profitably. The answers to all the questions are locked up in silos of data, and the question is, do you want to grow fast and big?  

Putting data at the heart of hospitality

The pandemic accelerated digitization at a pace unlike before, making the post-pandemic the age of data renaissance. For hotels and lodges, it's time to seize control and make data work for you. Easier said than done, right? Relax, we've got you covered! ElectrifAi's pre-built, containerized Machine Learning products can help you search through volumes of historical data—structured and unstructured—to make informed, mission-critical decisions in just 6-8 weeks. Our products accelerate revenue growth, cut costs, improve operating efficiency, and enhance customer satisfaction.

ElectrifAi’s CustomerAi and ReputationAi can help you leverage data, AI, and ML to achieve incredible business outcomes, such as:

  • Campaign Segmentation - Accurate segmentation of guests based on demography, spend propensity, booking patterns, needs, expectations, level of engagement, and other factors that will help you message, personalize and engage much more effectively with driving up bookings, the share of wallet, and frequency of transactions.
  • Customer Lifetime Value (CLTV) - Knowing potential CLTV is the first step towards designing new offerings or ways to extend the relationship's lifespan, and thereby, CLTV. Potential CLTV can also help target segments that are likely to yield better ROI and help nurturing the right customers improving conversions with lower customer acquisition cost.
  • Churn Mitigation - Our products help you draw insights into key churn drivers by segment to help you identify high-risk customers. Knowing who they are, and the key drivers helps devise retention strategies to reduce churn, retain revenue, and mitigate future churn with similar driver. The retention may result in new product/service mix.
  • Upsell and Cross-Sell - Get deep insights into your guests' preferences to persuade them to upgrade, extend or rebook their stay and experience the services offered by the hotel. Improve customer upsell and cross-sell using relevant and timely insights to drive sales and revenue growth while enhancing CX.
  • New Customer Acquisition - Identify the best customer segment and target look-alike customers with similar behaviors and preferences to drive high-quality, high-converting, top-of-funnel future guests.
  • Reputation Management - Got a scathing review recently about delayed room service? Got trashed online by an angry customer on being served a cold meal? Leverage our ML-powered products to monitor, automate and engage with customers on their reviews and to boost revenue and positive branding.
Bookings open: a room with insights powered by Consequential Ai

Why ignore your data when you can see results in 6-8 weeks? Still not sure if you have the data or if it's in the proper format? Look no further! Our last-mile AI products work with any type of data to power pre-built, ML-based products that deliver superior business outcomes with speed and scale. Harness the power of data to stop customer churn, sell more to existing customers, and start seeing results in just weeks with 10x ROI. What’s more—with such rich insights about your customers, you can now improve bookings forecast and secure bookings well ahead of time, while your competitors play catch up.

Sounds exciting? Contact us today to understand how we can create this value for you in 6-8 weeks!

ElectrifAi: US' leading ML products provider

ElectrifAi is one of the US' leading ML products providers, with an extensive library of pre-built ML products enabling our clients to capture tangible benefits quickly. We work with the C-suite to understand and solve business problems through data and machine learning in diverse industries such as Higher Ed, BFSI, Life Sciences, Hospitality, Retail, Chemicals, Oil & Gas, Telecom, Insurance, etc. The insights generated by our ML products, such as ContactCenterAi, ReputationAi, InventoryOptimizationAi, RevCaptureAi and other products, have helped our clients realize consequential business outcomes in 6-8 weeks.

Our product does not require investment in a new platform or infrastructure. Instead, we leverage the data existing in your system to power the ML models to deliver business outcomes.

We are the last-mile product that sits on the top to solve specific business problems and bring about savings. Contact us to learn more!