Services companies like Hotels, Timeshares, Resorts, Vacation homes, Cruises etc. are facing new challenges in attracting customers. Customer purchase decision is no more influenced by only the advertisement and promotions but increasingly influenced by social media feedback, recommendation from friends and relatives, online reviews, expert advice etc. In fact what the company says about their services probably is the least trusted amongst all the information that a customer gets.
A comprehensive analytics strategy is a key business requirement for this industry to understand and target the customer in a highly customized fashion rather than mass market approach. Kloutix has built an analytical platform K-Analytics™ to provide such holistic analytics to its travel and hospitality customers. The platform has extensive data model, KPIs and pre-built statistical models across the customer value chain. The platform also integrates customer feedback and social media data.
Some of the key statistical models are related to following areas:
- Customer profile segmentation
- Customer usage segmentation
- Cross-sell , Up-Sell
- Customer Value Scoring
- Referral score model
- Churn Model
- Loyalty program analytics
Referral Analytics: ReferPRO™
One of the important ways to acquire customers in hospitality Industry is through “Customer Referrals”. Many surveys have indicated that it is not only much cheaper to acquire a customer through referrals but also these customers have a much higher Lifetime Value (LTV).
We have built a specific analytical application ReferPRO™ to help customer acquisition through this channel. The application gives scoring of the customers who are most likely to refer and answers the below key questions:
1. Which customers are most likely to refer?
2. Which customers will give multiple referrals?
3. When should I contact a customer for providing referrals?
4. What product / service should I pitch to the referred customer?
This analytics makes the referral program highly targeted increasing the ROI of such campaigns significantly.
Our comprehensive approach and pre-built solutions to providing analytics to Travel and Hospitality segment ensure a high ROI with fast time to market with “Zero Capex” implementation.