Is your RSL club full? Are you missing out on potential revenue?
These are valid questions every manager needs to ask when they think of improving revenue and reducing costs. To accomplish these goals, you need to have the right tools at your disposal. That is where hospitality analytics or hospitality data analytics comes into play.
One way to increase revenue is by boosting customer loyalty. Studies show that loyal customers or frequent visitors spend more at an establishment, compared to newer members.
Data analytics platforms can deepen your understanding of customers, helping you find better ways to build relationships with them and inspire loyalty. These can even slash operating costs.
In this post, we explore how data analytics platforms are the key to boosting repeat visits and deepening your understanding of your customers.
Hospitality data analytics is the perfect solution for all or most RSL clubs. Here are a few reasons why.
According to Broadway Business, over 58 per cent of organisations used hospitality data analytics software to improve customer loyalty, while another 38 per cent use this data to generate insights.
Data analytics has been proven to work because these platforms generate reliable and accurate insights based on different sources of data.
If your RSL club is using a revenue management system, a database containing customer data, and an Excel sheet recording profit and losses for the quarter, then your data management process may be needlessly complicated.
Managing that data can be a hassle; data analytics platforms streamline this management by bringing all your data into a single, secure location.
You already have a detailed record of customer demographics. You may also have a solid understanding of your customer’s preferences.
But is this understanding driven by intuition or data?
Hospitality analytics can deepen your understanding of customer habits and preferences by pulling insights from different KPIs to enrich your existing pool of information. These can give you a better understanding of club member behaviour, allowing you to tailor loyalty programmes to specific needs and interests.
How do you stay in touch with your customers? Do you send them newsletters once a month? An email or SMS detailing a new offer?
How and when you reach out to club members can determine the success of your loyalty programme. It also determines marketing ROI, which is why you need the right tools.
Data analytics for hospitality organisations is one of the best ways to improve loyalty programmes. Analytics platforms can create different scenarios based on things like a promotional campaign. You can use these insights to execute more precise marketing strategies and optimise business operations.
Do you have the best rates possible? Hospitality analytics can help you determine the most ideal rates by evaluating sales data.
This information can help you determine the best rates for any products and services you might be selling. That is just the start, however. Pricing optimisation can also help you discover opportunities you might have missed before.
One of the biggest challenges in front of any RSL club manager is staff management.
We want to keep our staff productive, but we don’t want them overworked either. Fortunately, data analytics for hospitality can give you insights to optimise your work schedule.
Data analytics platforms can perform demand forecasting, allowing you to anticipate how busy it is going to get at your establishment. This foresight will help you set up better work schedules that help you meet your staffing needs while optimising your expenditure.
You can also avoid overworking your staff for no good reason.
RSL clubs have a rich membership network that provides compelling services. But, there is no reason why we can’t improve these operations to generate greater revenue and keep costs low.
There’s more than one way to go about this. Improving customer loyalty, providing compelling offers, and optimising your pricing are just a few things you can try out; all of which are made easier and more effective with hospitality data analytics.
Visit our website to get a better understanding of what hospitality analytics can do for you.