How can you develop a customized yield management strategy for your industry?

- Collect and analyze historical and current data. - Understand industry patterns, trends, and fluctuations. - Identify key performance indicators (KPIs). - Set realistic and measurable goals. - Examples: increased occupancy rate, average daily rate, or revenue per available room.

Developing a customized yield management strategy involves understanding industry dynamics, analysing customer behaviour, and implementing pricing and capacity optimization. Steps: 1) Understand industry factors. 2) Analyse customer behaviour. 3) Segment and target customers. 4) Optimize pricing dynamically. 5) Manage capacity effectively. 6) Utilize technology and data analytics. 7) Monitor and adapt strategies. 8) Focus on customer value. 9) Collaborate across departments. 10) Stay agile and flexible to respond to market changes promptly. Follow these steps and customizing your approach based on the specific characteristics, you can develop a tailored yield management strategy that maximizes revenue and profitability

Segment your customer base based on factors such as: Demographics Purchasing behavior Willingness to pay. This segmentation allows you to tailor pricing and promotional strategies to different customer segments, maximizing revenue potential.

- Segment the market based on customer characteristics, preferences, and willingness to pay. - Identify target customers and their values. - Analyze customer response to different price levels and incentives. - Use criteria like demographics, geography, behavior, loyalty, or booking channels. - Example: segment into business travelers, leisure travelers, families, or groups in the travel industry.

- Determine pricing strategy based on market segments, data analysis, and goals. - Optimize prices for each product/service and customer. - Consider dynamic pricing, differential pricing, or value-based pricing methods. - Factor in demand, supply, competition, seasonality, and events. - Example: Charge higher prices during peak periods, lower prices during off-peak periods, or offer discounts/promotions in the entertainment industry.

- Allocate inventory based on pricing strategy and demand forecast. - Distribute products/services across channels to maximize exposure and revenue. - Monitor and adjust inventory levels according to changes in demand and market conditions. - Example: Limit/increase inventory on certain channels, restrict/release inventory for specific dates, or offer bundles/packages in the retail industry.

- Measure and track impact on revenue, profitability, customer satisfaction, and market share. - Review and refine strategy based on feedback, insights, and learnings from data and customers. - Test and compare different pricing strategies, market segments, or inventory management techniques. - Example: Education industry: Experiment with various pricing strategies, market segments, or inventory management approaches.

No hay plan que se refleje 100% en la realidad. Menos en el mundo de hoy donde las variables son tan dinámicas que todo termina teniendo peque?as oscilaciones hasta de manera casi diaria. Por eso, debemos preparar el plan para pivotear, desde el inicio. Para ello es clave hacer un seguimiento muy pormenorizado de los indicadores, con un sistema de semáforo y en caso de que haya un desvío sistemático con respecto a lo planificado aplicar el ajuste de inmediato Espero que te haya resultado útil este tip!

Cada sector tiene sus propias reglas. Hay criterios que pueden ser generalistas para definir un proceso comercial pero siempre hay detalles particulares que debemos tener en cuenta. Por ejemplo: -A veces al segmentar un mercado más allá de las variables tradicionales pueden aparecer otras. Por ejemplo, pertenecer a determinada red de contactos puede ser un factor para incluir a una empresa en el listado de prospectos aunque no cumpla con los criterios generales Espero que te haya resultado útil este tip!