How hotels can drive greater customer lifetime value

Customer lifetime value calculations answer the question how much money you should spend to acquire customers

Your customer acquisition costs (CAC) might equate to more than what the customer spends on their first stay at your hotel. But that doesn’t take into consideration the entire length of their customer lifespan with your brand. Are you still making more from that customer in the long run? Calculating the lifetime value of a customer to your company will give you that answer.

Key takeaways

• Customer retention: Are customers enjoying their experience with the hotel? Are they looking forward to their next experience? Are your marketing strategies also helping to foster brand loyalty?
• Access to real-time customer data: Hotel brands need to be able to personalize marketing communications using real-time customer data, all while taking into account the near constant updates to pricing, availability, and customer behavior;
• Staying one step ahead of the competition: Having the right strategy to foster customer loyalty and the right marketing technology to differentiate yourself from your competitors and stand out in a crowded marketplace is crucial.

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