By Brad Cohen | Posted on May 01, 2014
What would you do if you had infinite dollars? Buy a time machine? Me too!!! So, this isn’t normally a question most of us get to contemplate, but there is one group of marketers for whom this isn’t such a crazy conceit – hospitality industry marketers. And here’s the easy secret to how hospitality can augment customer profiles with rich social data.
The hospitality industry is deep into loyalty programs. Anyone who travels is probably running programs for multiple hotel chains, and these points systems are a form of virtual currency used to incentivize brand loyalty and reward their most important customers. This virtual currency also represents huge opportunities for hospitality marketers to incentivize other types of engagement with their customers.
If you’re a hospitality industry marketer, congratulations! You hospitality folk know a lot about your customers, but you’re still missing some of the rich psychographic and behavioral data that can easily be collected from social profiles. Incentivizing existing customers to merge their social identities from Twitter, Facebook, G+, Instagram, and more into their loyalty accounts gives you access to the data and content from those social profiles and appends it to what you already know. Instagram might allow for user generated content, G+ may give access to YouTube activity to trigger potential destination cities based on videos watched, or Facebook might give you the cities that friends and relatives live in (and where the customer may desire to travel).
I’ve worked with dozens of brands across many different verticals, and the most common marketing pain point I encounter is a lack of assets that are valuable enough to users to incentivize behavior or participation in campaigns. So whenever I’m talking to someone in hospitality I nearly start to salivate at the opportunity you have.
And the formula for getting there is simple: offer rewards points for merging accounts, and offer more points for each additional account that is merged. You’re that close to getting a 360° view of your customers across all of their social profiles and appending tons of valuable and accurate data to your existing records.
According to a recent report, basic demographic, contact, and social profile data would cost about $11.80 per customer to purchase and append. A little bit of virtual currency costs essentially nothing. This is a no brainer, and a cost effective way to bolster your customer data and create opportunities for future targeting, personalization, and campaign activities.
Should we run the math on it?
Scenario 1 – Paying for Customer Data
Scenario 2 – Janrain Social Account Merging for Virtual Currency
Increasing open rates and click-through rates might not be able to justify spending nearly $600,000 on data append, but if that data can be captured without a per-user cost using a platform like Janrain, it starts to make a lot more sense. If you’re wondering what these numbers would look like for your situation specifically, get in touch and we’ll be happy to consult with you.
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