5 Sep, 2017 – Pathsight Predictive Analytics, a Connecticut Data Sciences Company announces today the release of its “Summer Series of Insights.” This second Article in a series of insights from the company is presented by co-founder Markus Deutsch resulting from a detailed study of 15,000 North American Travelers.
The hospitality market is an extremely competitive marketplace across an array of factors. Competition for customers, revenue, market share, and loyalty are all subjects of public score cards, stock prices and the judgments of the esteemed rating agencies. With the proliferation of big data, artificial intelligence, and high tech algorithms we often lose sight of the fact that customers are still people and the market is vying for their affections. To quantify the various score cards relative to how people view the marketplace, a recent study of 15,000 general population consumers sought to address that very issue.
Consumers were asked to rate a cross section of hotels to rate their affection or disdain for each brand. These ratings were cataloged as to being a positive affinity, negative affinity or neutral or ambivalent rating. A simple formula for results:
Brand Love – (Brand Hate + Brand Ambivalence) = Net Brand Love.
Consider these charts that show the ratings for each segment of these customer ratings. Brand Love confirmed for a Brand was a rating in the top 2 quintiles amongst the research group.
Hotel Brands have been removed from the Chart. and are available to interested parties.
Demonstrated here is the ranking goes from a low of 20% of the customers rating the brand in the top two quintiles. The highest rating was for Marriott with a rating of 55%.
The other extreme is the negative affinity or Brand Hate (the lowest two quintiles).
Brand Ambivalence. These scores range from a high of 34% to a low of 16%. The elephant in the room is the ratings on Brand Ambivalence. This middle quintile represents the degree to which people are neutral or ambivalent towards the brands. These ambivalence scores range from a high of 42% to a low of 30%. It is pretty amazing that with the tens of millions of dollars spent on branding that this manny people are unaffected by most of these brands or the brands have little meaning among the representative research group.
To calculate the Net Brand Love score, a brands ambivalence and hate scores are subtracted from their Brand Lover scores. The results are surprising in that only two of these brands actually had a positive net brand love score; Hilton and Marriott.
It is not unusual to find that these ratings are closely aligned with the recent JD Power ratings. These ratings are reflective of the reasons brands score well and also provide insights as to how to improve. Contact PathSight for information on how your favorite brand ranked in this study.
F.Markus Deutsch is an advisor and Co-Founder of PathSight Inc, a Predictive Analytics Company. He is an investor in Vacation Rental Companies and provides asset management services for Hotels in the United States and Europe since 2007 representing 12,000 vacation rental properties and Hotels across multiple brands. He was previously the CEO of the Vacation Rental Group which owned and operated amongst others Holiday Cottages, LandalGreen Parks, Novasol with 60,000+ managed properties. Mr. Deutsch is CEO of Landmark Global Associates LLC.
For more information, visit: www.landmark-associates.net
PathSight Predictive Science has made it possible to accurately know how someone will respond to imagery, messaging and experiences based on instincts hidden in the deep brain and predict future responses Pathsight then helps clients construct the optimal Human Interface—at scale and across any audience channel and technology.
Applying a scientific approach to the art of communications, our solutions are based on years of brain research and millions of points of data gathered and analyzed in collaboration with data scientists at the ISI Foundation. It has taken decades for a number of different sciences and technologies to mature to a point that they could collectively deliver a solution like PathSight. Finally, what the entire marketplace has been waiting for has arrived.
Pathsight was founded in 2015 utilizing a synthesis of data research CEO Bob Raleigh and ISI has conducted over 20 years.
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