Big Data and Timeshare Marketing

By now you've probably heard the term big data used as one of marketing's hot buzz words, but do you know what it really means?  And more importantly, how is it used in timeshare marketing?

What’s the Big Deal?
The term big data has been around for the past few years, but it seems it's not so easy to define. In general, big data refers to the collection of all the data from digital and traditional sources within and outside a company. Some definitions like to confine big data to information gathered from digital sources, and it is that. But it can also include traditional data collection such as that derived from call centers and point-of-sale, product transaction information and financial records.

In short, big data is collecting all the voluminous amount of data that your company creates, and then analyzing it for information that can be used to determine repeatable business patterns that really work.  Never think of it as just about gathering large amounts of data, what’s even more important is how you use the data. Combining big data with high-powered analytics can help you to zero in on data that is most relevant, and then analyze it to determine the areas that matter the most to your business success.

How Big Data is Being Used in Timeshare Marketing
In a comprehensive 2013 report by Harvard visiting professor, Tom Davenport, At the Big Data Crossroads: Turning Towards a Smarter Travel Experience, he stated that "big-data could be one of the most influential initiatives for travel since the online reservations system." But Davenport, who has also written over a dozen books on business analytics, suggests that "for the most part with some exceptions, other industries are using data in smarter and more advantageous ways then the travel industry."

Wyndham Worldwide is one of those exceptions. Wyndham utilizes its more advanced data analytics from its exchange business in its U.K rentals, to set pricing across its European vacation-property rentals. The company uses what it calls "yield management" tools to adjust pricing based upon factors that include, past consumer practices, market peak, and timing.

Another company to get going with big data is MGM Resorts. Understanding the power of Facebook and its over 1 billion followers, plus utilizing Facebook’s many data gathering tools, helped MGM to refine and update their advertising strategy. They expect a return on their new advertising program of between 3 to 15 times greater.

Major airlines are using big data to customize new offers for each flier. With data gathered on passenger past purchases, airlines are personalizing the travel experience. Recent technology advances enable airlines to sell products directly to passengers at booking and at check-in, in reminder e-mails as trips approach and on mobile phones before boarding. 

Delta Airline's CEO, Richard Anderson says, "We have massive amounts of data, we know who are customers are and what their history on Delta has been." Using this type of data helps airlines personalize the flying experience.

Companies That Help

If you need help with the gathering and analyzing of your data, whether it's a little or a lot, there are full-service companies and software specifically designed to guide and direct you in the process. CustomerCount, TrackResults Software, Amadeus, and Katana Software are just a few involved in the business of big data.
1 Response
  1. Thanks for this post!

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