Travel / Hospitality

Using big data analytics to power customer lifetime value

27th Nov `13, 10:17 AM in Travel / Hospitality

It’s hard to see a customer’s lifetime value if you’re only taking a 30-day view of engagement. This…

BDMS
Guest Contributor
 

It’s hard to see a customer’s lifetime value if you’re only taking a 30-day view of engagement.

This was a key conclusion drawn by HotelClub president, Nicolas Chu, who spoke at the first annual Data Strategy Symposium in the Hunter Valley. The leader of the online hotel booking website spoke about the company’s approach to utilising data to better understand the lifetime and retention value of customers across its network, as well as better target advertising.

Chu said understanding a customer’s lifetime value is a major headache for marketers. “The traditional metrics we use are based on short-term vision [30-day metrics], meaning you can’t see the customer who then comes back in six months to buy something,” he said.

Read More
MORE FROM BIG DATA MADE SIMPLE