SINGAPORE – Marketing practitioners from Asia Pacific’s hospitality industry are not making enough use of marketing metrics for the meetings and events business to be truly effective. This according to hospitality leaders who attended the recent roundtable event hosted here by the Cornell-Nanyang Institute of Hospitality Management and the Hospitality Sales and Marketing Association International (HSMAI) Asia Pacific chapter.
The hoteliers said millions of dollars are being invested into analysing financial data but not into marketing data, necessitating further investment into marketing systems that could provide effective analysis to aid marketing decisions. They said knowing where meetings and events guests spend their money in hotels is essential in measuring levels of satisfaction and understanding profitability and revenues.
Other areas of interest include research to create an industry standard for defining market segments and terminology, what impacts customer satisfaction, the long term effects of such impacts and the effect of macro trends such as what a destination does to sustain activity.
