Commercial Strategy-The Triathlon of Hospitality

Well, there you go; Commercial Strategy has officially gone from "What is that?" to being compared to a sport that requires training in three distinct sports to cross the finish line, let alone win.

Commercial Strategy is the coordination of sales, revenue, and marketing as one team with one budget and one strategy to achieve one common goal between three disciplines of expertise. There is no better analogy because similar to a triathlon Commercial Strategy requires the "Hospitality Athlete" to have skill in all three areas to execute with expertise in one.

Marketing is the swimming portion of the triathlon. It is where we start and dive in to create awareness that we are in the race.

Sales is the cycle, sometimes uphill; however, when we have built that book of clientele through relationship building, we are flying downhill, hands waving in the air and wind in our hair.

Revenue is the run, the run to convert, and the run to the finish line. When all three are well-trained, we all win. The medal is revenue and profitability.

We are no longer three athletes running in three different races toward different finish lines. We are one athlete, holding our own, honing our skills in the other disciplines to be valuable contributors. Doing the training is critical to commercial strategy. No one is born a commercial strategist, and at this moment in time, it is fair to say no Commercial strategists are graduating. We have to do the work today through the many resources afforded us in the way of coaching, webinars, masterminds, brand learning platforms, and collaboration with our peers to hone these skills.

If you find yourself in the pool by yourself, or going for that run around the block, stop and ask yourself when you dipped your toe in the pool of marketing, got on the spin cycle of sales, or laced up with a run with revenue. It's time to train to get in the race. This is Commercial Strategy. Are you ready?

Obsessed so you don't have to - Lori Kiel, Commercial Strategist