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During the HSMAI Curate 2022 current state session, we heard from four industry leaders that have experimented with commercial in their organizations from creating new commercial roles, to deployment, data mining, and leadership. Read on for highlights or visit the slides for further information.
IHG Commercial Edge
Presented by Sharon Paine, VP Revenue Management & Stephanie Ochs, Head of Commercial Above Property Services, IHG
Situation – Due to turnover and loss of expertise, IHG focused on a couple of brands.
Objective/Strategy – They looked at sales, revenue management, marketing and saw gaps.
Solution – They developed commercial strategy vision combining revenue management, sales, digital marketing, supported by technology.
Results – Breaking down silos can’t be the end of it, the sum has to be greater than pieces in the end to have convergence – freeing up them to do what they do best, and they filled in the gaps at corporate level to drive quality low-cost revenue, as well as created a commercial strategist role.
Taking a Fresh Look at Commercial Strategy Deployment
Lynsey Kreitzer, Senior Vice President, Sales & Commercial Strategy, GF Hotels & Resorts
Presented by partner Jennifer Hill, Kalibri Lab
Situation – GF started with definition: a commercial strategy is a design of a coordinated set of actions across sales and marketing to take advantage of key opportunities for value creation.
Objective/Strategy – Commercial strategy applies a shared vision.
Solution – Understanding commercial strategy deployment: what is the problem, who are the players, what are their responsibilities, what are the resources? They realized they needed to move beyond.
Results – Creating solutions with cutting-edge resources through tactical deployment across all channels, assessing results on a shared vision that becomes a shared reality.
Intelligent Commercial Strategy Through Smart Data Integration
Presented by Timothy Wiersma, President, Revenue Generation
Situation – There were too many reports, too many storylines and disjointed data. They were seeking a singles source of truth about marketing spend.
Objective/Strategy – Develop a common understanding of the role of legacy data and a common language to define priorities.
Solution – Mine the necessary raw data.
Results – A visual analytics platform that is transforming the way they use data to solve problems.
Commercial Strategy -A Lesson In Leadership
Lori Kiel, Chief Commercial Officer, Kessler Collection
Situation – Commercial strategy is evolving, and the infrastructure is still developing.
Objective/Strategy – Commercial strategy had to live at the top where strategy is being formed. Take strategies back to their disciplines. Leaders need to stay in air traffic control to best lead commercial strategy, not executing.
Solution – Embrace nomenclature – changing titles is not enough. Define the common goals of the three disciplines. Collaborate as one commercial team. Provide enrichment regularly showing example of what you want to happen and what is happening and offer the space for feedback.
Results – TBD