This is a guest blog article by Mike Schmitt, Chief Executive Officer at Clairvoyix.
The annual show for everything financial and technical in the hospitality space, HITEC, reminded me that it doesn’t matter what state the economy is in, you better lead, follow or get out of the way! The hospitality world is finally showing very robust signs of life with the rebounding economy, but that doesn’t mean the easy days of high occupancy and high ADRs (average daily rates) are back. Of course, tough economic times are the true test of a marketer. I believe the CFO rules when sales and profits are down, and for a CMO that means those three other letters – ROI – are the most important when requesting funds for marketing initiatives. To drive incremental ROI, marketers need to find new and exciting ways to communicate with past guests and future prospects. What is a hospitality marketer to do? You definitely want to “lead.”