Future of Mobile Application Acquisition and Retention
Blogs

Future of Mobile Application Acquisition and Retention

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June kick-started on a high note with the Mobile Apps Unlocked (MAU) in Las Vegas. Focused on the future of mobile application acquisition and retention, the conference emphasized on some of the biggest trends taking over the digital marketing space. Although it’s been nearly a year since Apple introduced the App Tracking Transparency (ATT) in iOS 14.5, the mobile app landscape is still grappling with its massive influence on user acquisition.  While ATT protects consumers from being tracked by third-party apps, it impedes the collection of identifiers that advertisers essentially leverage for personalized targeting. Coming from a world where marketers championed their audiences and campaigns through complete visibility, this creates a pressing business problem. With this paradigm shift in privacy centricity, brands ought to be smarter with building trust through the relationships with their customers and users. Less data signals now call for custom metrics for attribution that give specific signals to their solution. Additionally, with diminishing attention spans, brands across the globe are unanimously struggling with the fallout of departed app users. And so, with user attrition becoming yet another key business hurdle, brands are at a pressing juncture to unlock the full potential of digital customer experiences. The conference brought together seasoned leaders and subject matter experts who proposed the need for sophisticated platforms that can drive measurable value, support segmentation, creative testing and deliver unique insights across the customer experience. Here, Machine Learning (ML) algorithms have proven to dramatically improve customer experience, maintain customer loyalty and increase engagement. This technology suits all mobile business apps that need predictions and insights from large data sets. Although personalization is believed to drive customer experiences, it will be increasingly difficult to achieve without an integrated system that allows marketing to leverage first-party data. In light of this, user acquisition is now becoming more complex by the day, urging an inevitable focus on making the best efforts in sync with user retention and engagement. However, experts believe that the wide gaps in strategy have been brought by the now obsolete retargeting. Tapping into potential solutions, the industry has identified the use of creatives as the apt pivot in this level playing field. With authenticity believed to aid relatability, data shows that authenticity has made attainability a lot more real. And it is in this tangent that brands are building their digital identity and presence for the current generation, through bite-sized creatives, better known as the TikTok style of engagement. Finally, on the flip side of this booming new digital era, is the marketers’ heavy dependence on developers. Although it has been a familiar and ongoing struggle for brands since the dawn of time, now more than ever it continues to inhibit independent discretion of marketers. The vicious cycle of consumers demanding relevant content and brands becoming more reliant on dev teams, sprint cycles, and app store approvals to launch even the simplest of personalized and segmented campaigns, seems like it is here to stay. But in all, MAU was a testament to
Hospitality sector
Blogs

A fresh perspective of moving forward in the Hospitality sector

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The hospitality sector was one of the worst-hit during the pandemic and requires evolving in these uncertain times with fresh perspectives While looking at trends and data in the past three years, with regards to the hospitality industry, there’s only one thing we know for sure- change is the only constant. Gone are the times when there was a specific set format and a considerable difference between leisure and business travel. From doubling down on investment in relevant technology to accelerating and automating processes to identifying and shifting the way we cater to different groups of guests, it’s about time we take a pause and move forward in a strategic manner as an industry, on the whole. These are some of the many points that were addressed at the 44th Annual NYU International Hospitality Industry Investment Conference, which was a great opportunity to network with industry leaders, and get exclusive insights, perspectives and happenings on everything hospitality. Understanding the prevalent shift in customer expectations, and what we are and should be doing about it-   As of late, lead booking time has considerably reduced to anywhere between 0 to 6 days, with almost 50% of guests making their bookings on the very same day as their arrival. A steady increase can be seen in the rate of impulsive travellers, and the only way to match this pace is to be agile with our technology. Pre-pandemic trends can no longer be taken into consideration, and the steps that we take henceforth has to reflect futuristic thinking. Subscription-based model is gaining high momentum in the high-end leisure travel and hospitality sector. There are also a number of bookings that have already been made for the foreseeable future, which also means a large increase in lead booking times. Companies and brands have to focus on catering to both these groups- impulsive travellers and high-end leisure travellers. A sharp increase can be seen in group travel, with private properties and hotel suites getting booked out faster than ever. While this was not so prevalent a few years ago, more companies turning to remote working and experimenting with 4-day work week is opening up opportunities for an increase in group/family travel and stay. The fact that technology could possibly replace FTE is causing a certain sense of fear in people. While we should definitely be pro-automation, having people handle front office operations is a must. An ideal 10-15% of the process can be automated, and live engagement with customers without having to use Business Intelligence tools is a definite must. We must ponder about how we can use technology better to enable these live interactions and also how automation can enable staff and co-exist with them rather than replace them Events and entertainment are taking a front seat, and travel specifically for this purpose is making a huge comeback. With Las Vegas being completely booked till 2024, it only makes sense to take this new development into consideration whilst strategizing. There is a notable trend
Blogs

Sustainability in restaurants: the future of hospitality

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Impact of sustainability in restaurants To operate responsibly and drive sustainability in restaurants and hospitality industry, companies must address environmental and social challenges with conviction and develop practical interventions. Technology is here to help hospitality leaders achieve their sustainability goals. With the growing size of the global pipeline of new hotels and restaurants mushrooming every year, leaders must measure and manage the impact of this growth. The hotel industry accounts for around 1 percent of global greenhouse gas (GHG) emissions. However, buildings more broadly generate 19 percent of energy-related GHG emissions and consume 40 percent of electricity globally. Whether it is restaurants or retail brands, we are entering an era of sustainability where ‘mindful shopping’ or ‘sustainable choices’ have taken precedence. This trend pivots us to an age of sustainability-minded customers that care deeply about the environment and seek companies that care about environmental issues. Customers globally are making lifestyle choices and buying decisions by their values, attitudes, and preferences and not just by their wallets – the reason that explains why sustainability in hotels and restaurants is more at the forefront than ever.   How does a sustainability-minded restaurant look like? Sustainable hospitality is the practice of creating and using more resource-efficient models of construction, operation, maintenance, renovation, and demolition of buildings. A sustainability-minded restaurant is more efficient when pursuing technology and guest behavior modifications for reduced resource usage in construction and operations. Sustainable practices in restaurants stand out because most travelers and guests today look for companies that share their values. According to Skift Research, visiting destinations and hotels that reflect their values and sustainability will likely intensify over time. Travelers and guests want to ensure that the companies they give business follow environmentally, socially, and ethically sound practices. An overwhelming majority of millennials and Generation Zers today will pay more for products and services that don't harm the environment, deplete natural resources, or negatively affect people's lives or wildlife. To differentiate themselves and stand out, the hospitality industry, especially Quick Service Restaurants can focus on a few key aspects leading to attaining sustainability goals:   #1 Use of energy efficient options Energy conservation in the hospitality industry entails a dual approach: efficiency and reduction. Energy conservation may also include training employees in behaviors that reduce energy consumption and sending friendly reminders to guests about using in-house resources or electricity. For efficiency, organizations can look for opportunities to use green technology or products. For example, switching to energy-efficient LED lights. Energy-efficient buildings, innovative sewage systems, and intelligent automated controls would reduce costs for both hotel owners and residents. Internet of things is a big area where smart switches and lighting can significantly improve the guest experience. Self-check-in/check-out functions, smart-locking systems, and automated temperature regulation and controls can further accelerate conservation.   #2 Reduce and manage waste For hotels and restaurants, the opportunities to limit waste are numerous. They can source their food locally or grow it by themselves to avoid food wastage. This sustainability mindset ensures fresher products
Blogs

How AI is redefining the guest experiences in Quick Service Restaurants?

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Artificial Intelligence (AI) has changed the face of every business, big and small. The quick-service industry is no different. The benefits of AI are more evident in the quick-service world as this technology has unlocked new ways to leverage the extensive data sets generated with advanced AI tools. Quick Service Restaurants (QSRs) that have implemented some form of digital transformation as a part of their business see a huge opportunity to offer intelligent engagement to their guests, compared to those unprepared during an unpredictable year. For the QSR industry, with annual sales touching $799 billion annually and the market size forecasted to reach $296.55 billion in the U.S. alone, AI solutions don’t just bring a potential for new financial success; but also offer concrete competitive advantages. After a year of uncertainty for the entire quick-service industry caused by the pandemic, it is encouraging to see how QSRs embrace AI and grow smarter during these turbulent times. Now is the time more important than ever for the players in the QSR space to foray into this quintennial technology to improve customer experience and save on costs. How AI will enhance the restaurant experience for guests Digital technologies are undeniably streamlining everything from ordering to inventory, simplifying work for people at every level of the operation. These technologies—especially those powered by AI, will cause massive implications for every aspect of the business, most notably for the workers and consumers. Restaurants and food joints can boost sales and delight customers by implementing AI technology. Quick service restaurants have always been open to new technologies and experimented with them. However, with the latest innovations, the industry will likely move away from legacy tactics like asking whether you want fries with your order to complex algorithms knowing that knows you do. These new tech trends can play a crucial role in aligning critical business operations. Let’s see how these recent tech trends can play a pivotal role in aligning essential business operations. Here are some existing and emerging examples. #1 Voice Ordering 27% of the global online population currently use the voice search feature, and nearly 40 percent prefer voice search over their smartphones when searching for nearby restaurants. With voice assistants growing in popularity, the tasks they can help users accomplish using voice-enabled ordering with Amazon Echo (Alexa) or Google Home APIs are reaching far and wide. Customers have been using virtual assistants to search for restaurants for quite some time. But, voice ordering via smart devices is a new technology gaining popularity where guests can order on the go, for example, while they are still reaching their destination. This technology has become more far-ranging, not just from the customer-facing front. Voice ordering could also be implemented at self-service kiosks or drive-throughs, allowing guests to place orders conversationally—maintaining a necessary social distance, a great safety measure in the pandemic age. Voice assistant technology could take a customer’s voice order and enter it in your PoS as with ordering via any other ordering channel you offer. Moreover, because it’s AI-driven, the voice
Blogs

Delivering return on imagination for travel and hospitality

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Seize the space with intelligent engagement The last year-and-a-half has upended the world of travel even more than it has other industries. The very nature of travel has changed – business travel has been replaced by virtual meetings and vacations by workcations. Customers are, more than ever, expecting a seamless, personalized experience throughout the journey with a spotlight on safety. Outside of pandemic-induced changes to the industry, millennials are driving demand for sustainable travel. Various functions such as loyalty management, pricing, and operations are being impacted by the changing environment and customer demands. These aspects demand a change in the way travel and hospitality companies function and manage their business. Many of these business changes will require underlying technology systems to be re-designed functionally and re-architected technologically. With strategic plans driven by leaders top down, many are wondering how to implement those and even how to plan them. They need a new form of transformation without increasing costs and making the best use of lean workforce and agile models.   Our approach Our approach to transformation is grounded in a view of both the company and the customers simultaneously giving a better Return on Imagination. We believe that companies need a fusion of strategy and consulting, experience and engineering-led with a product operating model to enable true digital transformation.   We believe that how you seize the space between now and tomorrow is everything. We come with fresh ideas backed with years of experience working with travel and hospitality enterprises that make the whole difference. We make Return on Imagination a core philosophy to evolving innovation.   With many years of helping companies through their digital transformation, we learned that a company that continuously invests in reinventing its operating model with as much enthusiasm as reimagining its customer journeys and experiences will survive the long haul. We are here to give you this opportunity to seize your space by implementing 6 imperatives for your business.   Read our IMAGINATION IN ACTION  
Blogs

Key trends to watch out for in the hospitality industry

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The past year and a half has been a tumultuous time for the travel and hospitality industry, more so for the latter. All indications are that the hotel industry has rebounded from the depths of the Covid-19 pandemic. The U.S. hotel occupancy is returning to pre-pandemic 2019 levels this summer. This is good news…

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