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Understanding the power of CRM

November 07, 2003 |

CRM technology has become an important force in many industries, hospitality included, that can help give hotels the edge over competitors while maximizing profitability.

Often referred to as a type of technology, customer relationship management (CRM) is first and foremost a business philosophy – a way to consistently treat your guests right. Technology is the enabler that helps get useful information into the hands of your management and staff so that they can more powerfully foster guest satisfaction and loyalty. The big payoff is increased revenue, increased profits and more targeted marketing efforts.

CRM solutions typically evolve from simple manual processes, to standalone software and eventually to fully integrated systems spanning all channels and guest touch-points. The ability to analyze historical data in countless ways, including gives strategic decision makers the factual knowledge they need to guide the organization toward its goals, and gives front line staff the customer knowledge they need to treat their guests like gold. 

CRM technology has become an important force in many industries, hospitality included, that can help give hotels the edge over competitors while maximizing profitability, revenue and customer satisfaction. Some organizations may be more technically advanced than others but the CRM journey is a continuous one. As more data is gathered over time, new insights are illuminated and acted upon.

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