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Definitely Doug 10/18/19
Posted: 12/06/2019

Sustainable Innovation
 
Sustainability can yield multiple benefits to hotels. Saving energy and water yields direct cost savings. Revenue can be generated by guests who prefer to deal with businesses that minimize their environmental impact. And many would argue that conserving scarce resources is simply the right thing to do.

Definitely Doug 12/6/19
Posted: 12/06/2019

Meetings Innovation
 
The sale and delivery of groups and meetings is perhaps the most significant and under-automated functions for many hotels. Even though groups often account for 30% to 60% of revenue, most group bookings are still handled manually for most if not all of steps, as they move from a meeting planner’s research to a confirmed booking.

The biggest enemy to any system is complexity. In a system of inputs and outputs, such as an enterprise system, more complexity means more parts are used in interaction with inputs to create the outputs. Every part that must be built and maintained costs time and money

Tracking the evolution of key performance indicators (KPIs) over time allows hoteliers to identify meaningful trends, create forecasts and budgets and assess the results of different strategies. To perform this kind of analysis, data has to be recorded within consistent time intervals and in chronological order. This is known as a time series.

Definitely Doug 11/15/19
Posted: 11/15/2019

Every time I turn around these days, I see a new vendor or product promising something called a complete Guest Experience Management, Guest Journey Management, or Guest Engagement (or some variation on those words). This week I looked at some of the emerging products claiming to be in this space, both to try to better understand it, and to see what promising ideas it may hold.



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Advertising Influences Millennials to Buy More Often Than Baby Boomers

12/08/2017 Tagged as: digital marketing, millenials
by Clutch
Millennials are more likely to make purchases after seeing or hearing advertisements compared to Gen Xers, Baby Boomers and other older generations, according to a new survey from Clutch, a leading B2B ratings and reviews firm.
 
About 81 percent of millennials surveyed—those ages 18 to 34—made a purchase after seeing or hearing an advertisement in the last 30 days. Baby Boomers and other generations over age 55, however, were not quite as influenced by advertising: Among those consumers, 57 percent made a purchase as a result of an advertisement.
 
These findings illustrate millennials' higher tendency for "impulse buying" when it comes to new products and brands. 
 
"Baby Boomers have already gotten set in their ways in regards to the brands they prefer, so an ad might not convince them to buy something," said Rob Albertson, managing director of Bandwidth Marketing. "There's an aspect of spontaneity in millennials that would cause them to try something."
 
Millennials also trust advertising mediums more than older generations; 64 percent trust TV and print advertising, and 51 percent trust online and social media advertising. About 54 percent of Baby Boomers trust TV and print advertising, and just 27 percent trust online and social media advertising.
 
Millennials trust advertising more because they have more resources available to help them discover if a brand's message is misleading.
 
"Baby Boomers come from a time when there were a lot fewer regulatory bodies in advertising," said Julie Wierzbicki, account director at advertising agency Giants & Gentlemen. "For example, cigarettes used to be advertised as good for you, and we found out that these brands we thought were great were lying to us. Millennials feel like brands have to be honest because there's so much more information out there, and if you're doing things in a fraudulent or misleading way, it's going to eventually come out."

Consumer income is also a factor in advertising influence. The study found that 83 percent of consumers with a household income over $100,000 were more likely to make a purchase as a result of an advertisement, compared to 68 percent of consumers with household incomes of less than $49,999. This is due to a higher disposable income and more spending power.
 
Overall, advertisements influence 90 percent of consumers in their purchasing decisions, and consumers—regardless of generation—are most likely to make a purchase after seeing or hearing an advertisement on TV and in print.
 
Consumers view traditional advertising mediums—TV, print, and radio—as the most trustworthy, while they view online and social media advertising more skeptically.
 
The survey shows that advertising continues to influence consumers in their purchasing decisions, and businesses should advertise in order to reach consumers.
 
Clutch's 2017 Advertising Survey included 1,030 U.S. consumers who have seen or heard an advertisement in the past week. Read the full report here.
About The Author
Clutch




A B2B research, ratings and reviews firm in the heart of Washington, DC, Clutch connects small and medium businesses with the best-fit agencies, software or consultants they need to tackle business challenges together. Clutch's methodology compares business service providers and software in a specific market based on verified client reviews, services offered, work quality and market presence.

 
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