Decision Street's DRIVE software makes it easier for hotel sales teams to quickly focus on the best leads, and pursue multiple options for each lead within the context of future inventory and demand.
- OVERVIEWData, Technology, Analytics
- Drive SoftwareGroup Optimization Platform
- WHAT DRIVE DOESOptimizing Group Business
- KEY BENEFITSDrive Revenue and Profits
At Decision Street, we employ industry veterans with knowledge and expertise in pairing analytics and software to develop smart products that work. Our tools provide insight that lead to smarter decisions about the key issues facing the hospitality industry; creating a distinct competitive advantage by helping our clients connect the dots across various parts of the broader industry.
We help take your hotel sales and revenue management to the next level by providing:
- Expertise in group forecasting and optimization
- Insights and tools for sales teams to optimize price and placement for group business
- Expertise in common hospitality systems and interfaces
- Experience with clients and solutions across many areas of hospitality
- Custom analytical services for both leisure and group business like segmentation, targeting, and lead scoring
- User-friendly, web-based tools with smart visual graphics
- Open platform allowing ease of seamless integration
Speed wins deals - Decision Street's DRIVE software makes it easier for hotel sales teams to quickly focus on the best leads
Here are some questions DRIVE helps answer:
- Too much lead volume - where do I start and how do I respond quickly?
- Difficult to see and manage room and space inventory effectively?
- Need to manage group demand better to meet overall RevPAR goals?
- Need sales and revenue management to work hand in hand with the same information?
- Need to know when you're giving away too much meeting space to groups - don't understand the value of your meeting space?
- Need to reduce group turndowns due to room and meeting space availability issues?
- Want to make sure you don't make decisions that will negatively impact future availability?
- Need a more holistic view across all group business including room, space, F&B, and other out-of-room revenue?
What does DRIVE do?
Drive is a technology designed specifically for the hospitality group market and empowers sales teams to win more group business for their property.
It enables sales and revenue management to see, shape and fit- then select the best patterns & pricing for each group to ensure revpar and occupancy targets.
- Simulation - allowing the user to "forecast" the outcome of a specific decision / scenario they are contemplating such as taking a group in a specific pattern
- Optimization - enabling the user to enter "goals" and "constraints", and the system then telling the user the "optimal" decision based on those parameters
- Outcome and data visualization - providing the user an easy, visual way to better understand the differences in outcome under different scenarios
- Reporting - highly visual views of availability for rooms and space
- Advanced analytics - insightful views into future lead demand, pace, and forecast
What are the key benefits?
- Faster and easier to find the optimal dates and pricing for a prospective lead
- Focus on the best leads and quickly respond
- Pursue multiple options for each lead within the constraints of inventory and the context of future demand
- Yield available inventory more effectively by reducing inefficient group room or meeting space allocation decisions
- Link sales team efforts with revenue management strategy earlier in the sales process
- Quantifies the impact of meeting space decisions on achieving forecasts/budgets
- More efficient utilization of room and meeting space
- Provide sales managers more time to focus on selling
- Provide sales managers multiple options for every lead
- By evaluating each lead through the DRIVE system, you will see an increase in lead conversion
- Allows sales to easily and proactively identify patterns of opportunity for group business
- Case Study: for one client, DRIVE helped identify specific & significant displacement created by a group booking, which led to data justification to charge an additional $750k in additional space rental fees for that booking
Hospitality Industry Case Study
One particular case study in the hospitality industry for a services engagement involved a large hospitality company who wanted to better understand its customer base in order to more effectively market to them.
Our client's internal customer data was maintained across several systems Customer intelligence was limited to internal data; no external customer data was collected or purchases Our client had no measure of relative (or lifetime) value between customers, or who their best prospects were.
Internal data sources were pulled together into one master customer data sources. External demographic information was appended to customer accounts and both were used to develop customer segments.
We created custom scoring models to identify customers who were likely to have repeat visits, and to identify prospects that were likely to convert to visitors Customer segments and propensity models were used to develop a Lifetime Value metric that resides on customer database, and which is updated dynamically.
Refined customer segmentation now plays a key role in product messaging, ideation, and offer creation Propensity models allow client to most effectively target the right customer, with the right promotion, at the right time. Our lifetime value scores are being used by client for marketing investment decisions and loyalty programs.