Some of the big topics people discussed with us at the event got me thinking: As we approach the end of the first quarter, this is an excellent opportunity to take stock of the strategic projects we have open and the status of our goals for 2016.
This year, there is much talk around strategic goals, such as improving pricing strategy and overall business performance, improving the percentage of business through direct channels and customer loyalty/personalisation. Regardless of your specific goals for 2016, here are three things to consider with three quarters remaining to focus on achieving them:
- How will it help us grow? This is an important question to ask when evaluating key projects and goals for the remainder of the year. It is important to ensure the key priorities for the year are understood and achievable. Projects should be prioritised based on those that will support overall growth. There are often tough choices to make in prioritising projects or phases of projects that are both achievable and support growth.
- Are our resources aligned? Resources are limited and often very constrained in hospitality and travel organisations. It is important to ensure that our key project are understood throughout the organisation. A clear understanding of the key projects, their goals and every person’s role in contributing to this is vital. This alignment across teams will foster the best basis to achieve these goals.
- Are we set up to make informed decisions? Regardless of the individual goal, it is important to ensure that we are collecting data to support informed decision making. Do you have well-defined processes and standards to ensure that the data available supports good decision making? This is key as we consider not only how to prioritize projects, but also how to start solving some of them. Data is key to understanding current channel and business performance, loyalty etc. Well-defined data collection supports goal achievement and reduces any dependence on instinct alone.
It was great to meet so many of you to discuss your strategic goals and we welcome the opportunity to enhance existing relationships and form many more strategic partnerships. Whatever projects you are working on in 2016 and beyond – we would love to hear from you!
(Pictured: The IDeaS team at this year’s ITB Berlin)