The Investment Case for Branding and Customer Experience: Hotelier Lessons from Hampton by Hilton
Branding starts by providing your customers with an ideal, memorable experience.
As an industry, multifamily has been unable to consistently develop an investment thesis for investing in branding and customer experience. This is due in part to a lack of confidence in the direct return on investment in these "soft" customer disciplines. This creates competition solely according to price, physical amenities, and age of assets.
As an industry, we don’t see the opportunity for good operators to differentiate their offerings through service, living experience and community - and to earn a premium for creating a great experience.
Shruti Buckley, Hilton, Senior Vice President & Brand Leader, Hampton By Hilton delivered an insightful keynote on making a business case for brand investment along with moderator Michelle Moriello, GID/Windsor Communities, VP, Digital Marketing.
Among the key takeaways were how to get your organization to invest more in marketing. You must know your stakeholders, understand what KPIs matter to them and communicate your strategy in their language.
Branding starts by providing your customers with an ideal, memorable experience. Establish your brand as an experience, not just a transaction. Every detail, from lobby furniture to gym equipment, should be chosen based on data that supports your brand identity.
Have clear brand standards and hold operations teams accountable for upholding them. But ultimately, you're responsible for making sure those standards are clear from the start. For example, Hampton's brand guide includes more than 150 pages.
Make a valid value proposition. Determine what your guests want and what they’re willing to pay for. Talk to your customers to find out, but remember that cleanliness, friendliness, and reliability are fundamental.
When you have happy employees, you’ll have happy customers. Happy employees lead to well-maintained assets and happier customers. Invest in your people because it pays off.
Show the economic impact. When advocating for a specific amenity, demonstrate how it will positively impact economic performance.
Do your homework regarding your competitors and market position. Study your competitors' performance, brand strength, services, and property maintenance. Understand what they're doing better so you can set yourself apart.
Here is the replay: