The factors affecting and determining the working plan of every particular industry are very different. However, all different industries have one common factor that should be taken into consideration in order to succeed – Generational Kinetics. The problems stemming from not understanding the generational dynamics and planning out your strategies keeping them in mind are innumerable. Failing to take this aspect seriously enough, could lead to breaking any business structure wide open, in the coming 5-10 years. Here are answers to some of the questions you might have in mind regarding Generational Kinetics.
Why does figuring out Generational Kinetics matter in any business?
The ageing marketing chronicle states that the cost of acquisition of new customers is at the least 6 to 7 times more than the cost of retaining an existing customer. Customers are a hotel lines most valuable asset. Keeping the customer satisfied and loyal is thus, the greatest need for any hotelier in the business.
Here are 4 ways to create the best hotel loyalty policy. How do we know? We’ve been working along side one of India’s top grossing Hotel lines, Sarovar Hotels & Resorts with the Sarovar Rewardz Program, and have first-hand experienced their growth in the country.
With the ever rising new opportunities for brands to increase customer retention and brand preference, loyalty programs need to be radically dynamic. Loyalty programs are also an extension to every customer relationship strategy. Customers have the power to leverage business profits by almost 100% in exchange for just mere 5% of retaining existing customers.