Sunday, October 2, 2011

10 Key Takeways from the Ancillary Revenue World Asia 2011 Conference in Singapore

I attended and presented recently at the Ancillary Revenue World Asia 2011 conference in Singapore.  It was an excellent 2 days where I valued meeting up and learning from a number of key management illuminaries from the airlines, hotel, travel, banking and insurance industries.

Here are 10 takeaways I put together from the conference.
  1. "Treating People Right" - Tune Hotel's Mark Lankester believes in focusing on the customer's core needs, debundle the rest like insurance, transport and even air-con which could be offered as an upsell when required.
  2. Mobile commerce will go Social and Local (with location-based services) and audience management of your consumers through search will go from PC-WEB to Mobile-WEB to TV-WEB (XBox-Kinect), says Manish Ladha, Microsoft.
  3. Apps can expand ancillary channels to your business by driving new different ways in content consumption, and also offering new debundling and repackaging opportunities to your products - says well me, Nelson Wee, SingTel
  4. Move from segments to customer-centric approach in targeting your customers - says Steve Pinchuk, Melco Crown Entertainment
  5. Embed cross-selling opportunities before, during and post the booking process - best practices from Amit Saberwal,
  6. Grow your partnership from a marketing partnership (value driven) to an ancillary partnership (revenue driven) - Wong Soon-Hwa, Hertz International
  7. Best route to ancillary revenues is not to aim directly at revenue but at customer experience and value (case study on grabbing in-destination share of wallet through ancillaries) - says Aseem Sadana, Isango!
  8. Using opt-out to good effect in booking process can give outstanding customer take-up in your ancillary services - Lim Kim Hai, Regional Express
  9. Manage effective revenue management by balancing between your core and ancillary products, creating value for your customer and never over-bundle (instead review and fine-tune your current bundles) - Doug Hesley, The Four Seasons Hotel & Resorts
  10. Generate revenue from cross-selling across multiple products through a centralized marketing organization, who looks to solving a need of your customer with a simple to sell, buy and service product, and follow up incremental value through life stage mapping - says Basker Rangachari, Standard Chartered
Well ok, I cannot resist providing a bonus takeaway from a good buddy of mine, Miguel Bernas, SingTel who was among the panelists during the "Social Media: Dwindling Potential" discussion.
11. Social Media could potentially replace the ice-cream parlour or the Saturday night poker game where you gather with your buddies and engage on stuff which happened over the recent week.  Perhaps brands could offer a corner of the ice-cream parlour and partake in the engagement and conversations of their customers.

Here is also my presentation deck for your viewing.  Most welcome your views!

Til later,
Nelson Wee
engage me here or in Twitter @nelsonwee

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