We learn more about the new virtual revenue event for hotels specifically designed for commercial leaders. Joining us is Ally Northfield of Revenue by Design, hosting Catalyst for Conversion in London, Damiano Zennaro of Hotel Revenue Forum in Milan and AnneMarie Gubanski in Stockholm for Revenue Forum as we discuss the Global Revenue Forum Live online webcast and the content and keynotes to expect.
31 January 2023. Book now
During the discussion we look at:
The status quo for loyalty programmes - and what's wrong with this approach
How companies should follow their customers and collect data to drive new revenue opportunities
Leveraging data to improve loyalty experiences
Role of revenue management and loyalty - How they work together
The technology enabling leading businesses to do this
Programme Notes
Ryan Haynes:
Hello and Welcome to Travel. Market Life. I'm your host, Ryan Haynes. And today we are going to be talking to three of the hosts of the Global Revenue Forum, which is an event happening on the 31st of January, 2023. So not long to go at all three events, One community, Where, commercial leaders, digital marketing and Revenue management specialists come together. We're gonna be finding out what's gonna be happening at these events and what you can learn.
Ryan Haynes:
Joining us first on the line is Ally Northfield, who is from Revenue by Design for the event that's in London. Thanks ever so much for joining us, Ally. Now you are hosting these three events with keynotes streamed online as part of the Global Revenue Forum. Can you tell us what sort of content we can expect?
Ally Northfield:
Yeah, thank you very much, Ryan. Lovely to be here. Thank you very much for the opportunity to talk about the, the conferences. So I think typically if you are looking at the conference, as a revenue specialist, you're going to be walking away with future ideas for, for, for the upcoming year and really getting in touch with sort of cutting edge technologies. So in London we have revenue management across the customer journey, so really looking at how revenue management can be applied at every stage of that customer journey. In Milan, they're going to be pitching with leading revenue management strategies for the next upcoming year, and Stockholm is really positioning their content as revenue management for revenue management visionaries, if you like.
Ally Northfield:
So really, really looking forward and looking ahead. That's the real, the real thing for, for this event this year.
Ryan Haynes:
I mean, so much has been happening over the last couple of years and with the pent up demand, the booking returns, we've seen big changes in commercial and and cons shopping behaviors, haven't we? Now, can you tell us about your London event? Catalyst for Conversion? We're not just looking at rooms bookings anymore, it sounds like it's much more to it. What can we expect to learn from that and some of the highlights?
Ally Northfield:
Yeah, what I really want people to have when they look at the takeaways from this conference is really for revenue management. Really stepping up to looking at the revenue, the pockets of revenue opportunity, right the way across the customer journey from that initial touchpoint, right the way through to delivery of the product and that customer then leaving the property. So that really is having the role step up to a more commercial viewpoint if you like and much bigger head space in terms of how to really, from a customer perspective, look at way at ways in which we can convert more revenue at each stage.
Ryan Haynes:
Now you've got Natalie Nahai, a web psychologist who's delivering a keynote. What particularly drew you to her profile?
Ally Northfield:
Yeah, a fascinating person working with some really in a really nice area. So, I think from we can see that the customer, the way customers are making decisions or the way guests are making decisions is changing. And so people really want to put their money, invest their money into areas that align with their values, that reflect, reflect what's important to them in their world. And Natalie really has dive has done a deep dive into how guest behavioural expectations and behaviours are changing. So she has really done a deeper dive than just things like Pricing psychology. So she's really trying to understand guest behaviours and that's what really drew me to her.
Ryan Haynes:
Wonderful. Now Ally actually had a conversation away with Natalie just recently and here was one thing that she had to say. You might wanna check out the rest of the podcast
Nathalie Nahai:
Depending on how you want to display the rooms. Typically speaking, people go for middle choices and this is very simple. You see it online and offline. So if you're displaying people with three key rooms and you want, you know, to sell the middle option, then make sure that you're aware of that particular bias that people will go for what's displayed in the centre. That's one. And then the other one is also just the price anchoring, which is if you've got a special run at a special rate and you know that that's the thing where you've got the greatest margin, put that first.
Ryan Haynes:
Now heading over to Stockholm, we've got Annemarie from Revenue Forum. Thanks ever so much for joining us to Annemarie. Now you are going to be looking at the pricing future of travel and sustainable business strategy. Please tell us about your keynote.
Annemarie Gubanski:
Well, first of all, thank you for having us. It's, it's really a joy to be here. So in Stockholm, what we are focusing on is not only just a specific topic, but we want to be ready for the next year. So, we have topics about sustainability, leadership role, the effect of the financial crisis and inflation on the hotel industry, but also the weight of just choosing the right concept and having that just like being just like transformed through all the hotel total profits, distribution issues, anything that we think is very interesting for the hotel hotelier today and they need to know to come to be prepared for the next year.
Ryan Haynes:
Well that's, that's absolutely wonderful. I mean it sounds like it's going to be an absolutely packed up program there in Stockholm and your keynote, who can we look forward to?
Annemarie Gubanski:
His name is Olof Röhlander and I chose him. He's a prize-winning keynote speaker. He's written a lot of books about the topic of leadership. He also just like, has a very popular podcast here in Sweden. So he's a known name but especially he's an energy kick so he is really just like the right person to end the day with. You'll just feel energized and just like ready for 2023 I think.
Ryan Haynes:
That's wonderful. I mean I guess if you are in person or at home, you'll be able to completely benefit from all the insights you're going to get as well as really re-energizing your entire team. Now Hotel Revenue Forum is hosting the Milan in-person event. Now Damiano, thank you ever so much for joining us. You are going to be joined by Kai-Markus Müller, what insights will we glean from him?
Damiano Zennaro:
Oh yeah, first of all, thank you very much for being part of this fantastic group. Really, I think it's a unique event, let's say Pan European events and I'm really looking forward to it. So, we were really looking for someone who could actually inspire our audience about Pricing and Kai Professor Mueller, is a consumer neuroscientist and I think no one better than him can actually understand how Pricing can affect your choice. So, he is going to really deep dive into what is really influencing our way of looking at Pricing and how can we influence as well people, you know, about how we price our products, especially in regards to value.
Damiano Zennaro:
So I think, you know, when we are talking about the choice architecture and how can we really see the price in different ways, I think Kai will be the best person to explain to us. And he just published a book right now, So it’s Invisible Game. So, I'm pretty sure that will be a very, very exciting session from Kai.
Ryan Haynes:
Absolutely. I know that you've recently, along with Emmanuele also recorded a podcast from him and this is some of the words that we can hear from his advice, particularly in making sure the price is right.
Kai-Markus Müller:
If the price is too cheap, that people get a large kick from only the low price and if they get a large kick, they get used to it. And if you get used to that, you like to get like addicted to it and that’s what you really want to avoid. Because otherwise you train people to only look at the price and to get their kick from getting a low price. Those are not the people that want to come. Again, those are not the people that buy the Martini at the bar, not the people that buy for various weeks when it's expensive, but those are the wrong customers.
Ryan Haynes:
I mean we are looking at the fact that we are entering potentially a very difficult commercial period above and beyond the pandemic, but with Pricing places and the, and potential recessions in our, in our countries across Europe that we're really going to have to make sure that we're getting prices right. One of the particular things that I really liked and I hope that this sends a big message to the audience here is really for commercial leaders, revenue managers are Kai's perspective on their particular role.
Kai-Markus Müller:
You are the choice architect; you design the choice and the choice lies as much within you as it does within the empire.
Ryan Haynes:
Absolutely wonderful. Hey Damiano. So, if they want to check that out, they can head to your channel and hear more from Kai. Now can you tell us a bit more about who the live in-person events are for? Who would really benefit from that?
Damiano Zennaro:
Shall I start, start from now very quick? So, it was the last one. So, we are expecting to have really the best, you know, representative of revenue management and commercial leaders in Italy. So locally, that's the in-person event and of course there will be a great opportunity to network as you as you know. So we are running the hotel revenue Forum for the last few years and there's always been a great opportunity to see each other and really network again, you know, okay we starting, you know, travelling again, but I think this is the best opportunity to start the year instead 1st of January. So that's great and online, I think this is a great opportunity for everyone just to follow the three events because don't forget the three vents will be, you know, will be streamed and there are the three keynotes speakers, you know, simultaneously streamed from London, Stockholm and Milan.
Ryan Haynes:
Wonderful, thank you very so much for joining us today, Damiano and over Annemarie. you know, we, we know that we've got Fernando Vives who's going to be in Italy, what sort of hotels or hospitality leaders will be here from Stockholm?
Annemarie Gubanski:
So I've asked the CEO of Scandinavian resorts to join us. STF is the organization for the Youth Hostels for instance or hostel organizations but also Visit Sweden. We have Sabis which has very high quality hotels, but also the likes of Expedia, Amadeus, Fair Travel, Visita which is like the representation organization here in Sweden. So, we have a broad blend of speakers together of course with our organization.
Ryan Haynes:
Excellent. And I know that while the Platinum sponsor is going to be Oaky they're going to be releasing some fantastic data as to what's happening in the marketplace at the moment. And I believe you're going to have one of them speaking there at your event.
Annemarie Gubanski:
Yes, they are going to be speaking. They have published a white paper, which is very interesting. We've asked them to do some research and they came to fantastic results. They're going to talk about that at our event, but also mostly of course about upselling and how to make it to gain extra revenue just by doing the right things.
Ryan Haynes:
Wonderful Annemarie, thank you very much again for joining us. And finally, over back to London Ally now who, what hoteliers can we expect to be hearing from or some hospitality leaders?
Ally Northfield:
Yeah, certainly we've got, we've got representation from the main brands, independence and also some regional brands. So, you can expect to see revenue directors from Accor, Red Carnation, Clarence, Firmdale, RBH Management, so really across the board in terms of both branded properties, independence and also different accommodation types. So, we've also got representation from Unite Students, which is student accommodation as well. So yeah, it's a really nice board spectrum and some fabulous sponsors as well, obviously, IDeaS you've mentioned and Oaky and we've also got Net Affinity, Atomize, Pace Revenue, Cendyn and SHR to name a few.
Ally Northfield:
So yeah, So, it's going to be a, a really good, a really good session in London, definitely worth attending.
Ryan Haynes:
Excellent. Yes, because I know you've got Klaus Kohlmayr, the chief analyst at IDeaS and he's your Platinum Plus sponsor. So yes, that's going to be a wonderful turnout there. So, thanks ever so much for that and you know, really looking forward to that event. And guys, again, thanks for joining us on Travel, Market Life today.
Ally Northfield:
Pleasure. Thank, thank you
Ryan Haynes:
So you can check that out on www.globalrevenueforum.com where you can sign up either for the virtual event or lead through to the in-person events in London, Milan or Stockholm and Ally. There did mention a few names that have featured on our podcast, so why not check out Hoteliers’ Voice Season 2 and hear from the likes of Red Carnation and RBH Hospitality Management about some of the strategies that they've implemented over the last year and then you can have conversations with them at the event. Thanks for listening. I'm your host, Ryan Haynes. This Travel Market Life