Knowland, a provider of data-as-a-service insights on meetings and events for hospitality, has introduced Market Snapshot. This new feature delivers data insights sales leaders can use to understand their markets better, define sales strategies and grow group business share.
“In today’s shifting market, it’s important to quickly discover and identify group business trends to ensure properties take full advantage of the opportunities in their market to drive their success,” said Kristi White, chief product officer, Knowland. “We developed Market Snapshot to provide sales teams with an in-depth view of the market fueled by booking data in a simple action-ready view. By unleashing the power of self-service market analytics, Market Snapshot enables teams to quickly find answers to key questions and share those insights easily at the property and above-property levels.”
Market Snapshot helps sales directors and general managers better gauge overall market performance by providing easy access to booking trends, the average number of bookings per property, along with estimated attendees and meeting space utilization. This data insight helps sales leaders visualize performance over time with fully customizable comparison date ranges to guide sales strategy based on market trends.
The feature also enables focused sales actions based on accounts driving their market. By understanding market segmentation, sales teams can isolate the industries generating business in their markets and drill down to specific bookings and accounts to uncover their unique needs. It also helps uncover opportunities and threats from shifting market conditions by revealing meeting space trends and delivers the ability to recognize and pinpoint when smaller or larger properties become competitors.