Technology and its Impact on the Hospitality Industry
Technology has changed considerably throughout many industries and the hospitality industry is no exception. The hospitality industry has experienced significant disruption through technology, but also many unique opportunities. Those within the hospitality industry will need to quickly adapt.
Providing a Streamlined Guest Experience
New technology provides the opportunity for a streamlined and simplified guest experience.
- Better self-service. Guests are able to change and reschedule their services on the fly, leading to more satisfied customers and accurate booking and purchasing.
- Automated reminders and scheduling. Guests will be automatically reminded regarding their services to ensure that everything is accurate, reducing administrative costs and mistakes.
- Advertising in multiple venues. Advertising and content can be automatically pushed to multiple platforms to access a larger audience and to price services dynamically based on demand.
Social Media Outreach Services
Social media has become a leading method through which many guests interact with hospitality services. Through social media outreach, businesses can resolve customer service issues and bolster their brand identity and their reputation. Social media outreach is a very cost effective method of advertising, with substantial return on investment.
Social media is also an excellent way for companies to seek out and resolve any issues that the customer has had in a way that is both visible and transparent. If a company is able to build enough of a following, their inbound marketing is going to be able to draw in additional customers with very little direct investment by the company.
Easier Checkout and Sales Funnels
Once guests have been brought in through social media and reviews, they can then be sent through an automated, concise, and direct sales funnel. Technology can be used to make it easier for guests to commit to a purchase, through the use of online scheduling. At the same time, upselling can be completed automatically — customers can be asked regarding whether they want optional add-ons and additional services.
Disruption
While technology has made it easier for hotels on one hand, competition has risen on the other. Homeowners and investors alike are finding ways to utilize technology to rent out their properties to create passive income streams while providing visitors to their area an alternative to hotels. AirBnB is the most well-known in this sphere, but competitors are popping up and growing all around the world.
These are the benefits of technology, but there are downsides as well. Reviews and social media can have a negative impact on reputation if not carefully managed. Further, third party sites can be used to find the best deals, which can lower the amount of profit for those within the industry. But by and large the benefits of the technology far outweighs the negatives.
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