Frequently hotel owners or administrators.

Very often hotel owners or managers start loyalty programs using the aim of attracting new customers and retaining existing ones. These programs offer discounts, free of charge and additional services for customers. For instance , if a guest books a suite for three nights he or she gets free dinners. This is just a simple example, and the best customer loyalty programs can offer great services. Nevertheless , the time comes to evaluate effectiveness of loyalty programs. Many hotel owners and best managers make a mistake of evaluation program results after the end of the program. It’s some thing goes wrong from the very beginning the hotel managers learn about that only in the end when it will be too late to do something. Of course , ongoing financial outcomes can tell much but not almost everything about efficiency of a specific loyalty program. This is where efficiency evaluation tools come into have fun with. Being armed with knowledge on current performance of a resort and efficiency of commitment program, top managers can introduce amendment

s plus changes to the program to obtain even better results. It is very hard to make 100% correct forecasts. Markets change all the time plus customers change their preferences. Thus, loyalty programs need to follow these changes.

Progressively more hotel owners and resort managers use Balanced Scorecard. This revolutionary performance evaluation and strategic management tool proved its efficiency in hotel business which is seen as a intense competition. Balanced Scorecard does not only evaluate monetary indicators (results) but also non-financial measures that can tell very much about what is going to happen soon. Balanced Scorecard consists of 4 categories: financial, customer, inner business processes, learning and growth. Each category includes key performance indicators which provide top managers along with correct and timely home elevators performance on the loyalty plan and its outcomes for business.

Imagine that hotel management offers launched customer loyalty program by offering discounts regarding regular customers and freebies and services for new ones. As some time passes simply by, Balanced Scorecard begins to screen the first results which are not only financial results. For example , the amount of hotel customers may raise and customer satisfaction improves. Which means that in the long term the hotel might find and increasing revenue because customers who have participated within loyalty program will most likely return again. If Balanced Scorecard shows warning signs the faithfulness program needs to be changed. For example it may turn out that delivering new customers with free dinners is not profitable at all. Thus, the hotel managers need to look for another way to attract clients.

Loyalty programs have one goal – to increase revenue by improving loyalty of present customers and attracting new clients. At the same time loyalty programs need to be profitable in financial terms. Well balanced Scorecard will help optimize costs and improve efficiency associated with loyalty programs.

Introduction of Balanced Scorecard to the hotel should be supported by the most of personnel who should take part in discussion of key overall performance indicators and everyday use of BSC.

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