There has been a great deal of focus on social networks and the sales process but not so much on social networks and the revenue management function. In fact, social networks are a tool that revenue managers must learn to use to use as an integral part of the RM process.
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“Social networks provide opportunities for revenue managers in every aspect of the revenue management process,” says Carol Verret. “It’s not just about Twitter and pushing out ‘travel deals’ anymore.”
Social Networks and Market Intelligence. It is no longer sufficient to look only at competitive rate reports; there are rates and deals being promoted on social networks that don’t appear on rate reports or OTA offerings. How to use the info on the competitions’ social network pages to get a clearer picture of what’s up at the comp set.
Which Networks for Which Market Segments. What to push out on which networks -- it’s not one size fits all! Using social networks to selectively promote various market segments and how you can receive analytics for the success of your promotions.
Monitoring Tools. Social networks can be difficult to stay on top of – links to cool new tools to assist you in staying up on the competition as well as allowing you to post across multiple networks. The key to successful integration of social networks into revenue management processes is ease of use.
Social Networks and Reviews. It’s not just about Trip Advisor anymore – social networks facilitate instant reviews from consumers that they share with their friends and network contacts. Using positive reviews to enhance your presence on social networks and turning negative reviewers into ‘fans’!
At the end of this web cast Revenue Managers, Directors of Sales and General Managers will have a better understanding of how social networks impact the revenue management function and will have received tools to integrate social networks into RM processes.
The web cast will take place on February 26th at 1:00pm EST, noon CDT, 11:00am MDT and 10:00am PDT. The fee is $109 for a single connection and $99 for two or more connections from the same company. To register click here. All participants will receive the recording of this program.
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