TechnologyKnowland Provides Market Segmentation Add-on for Sales Teams

Knowland Provides Market Segmentation Add-on for Sales Teams

ARLINGTON, Virginia—Knowland announced an add-on feature designed to help on-property sales teams better understand and target the right group segments booking in their market.

Sales teams are often challenged to understand what groups have met in their competitive set. Knowland’s Market Segmentation feature delivers insight into group business activities by market segment, allowing hotel sales teams to adjust sales efforts and meeting and events business strategically.

  • Knowland’s Market Segmentation feature was previously only available to above-property management. It became evident that on-property sales teams needed access to the same granular detail to pinpoint performance and determine the top market drivers of actualized group activity by account, market, brand, and competitive set.
  • Drop-down menus provide insight by comparing a hotel’s comp set to their own group booking data. Market Segmentation allows teams to drill down into specific market segments by industry and by account name to identify groups who have previously met in that market. This insight enables them to understand their booking share of specific market segments and, in turn, which groups to target.
  • Gaining insight into changing group market conditions and competitive intelligence directly impacts a hotel’s ability to stay ahead of the competition. By understanding why a property is being outperformed by the competition, sales leaders can take informed action to shift market share and target those market segments booking in their competitive set.

Jessica Carey, vice president of customer operations, Knowland, said, “This tool helps individual properties gain the insight they need to better understand market segments by industry type and group. Allowing sales teams to align strategies based on where group business is booking in their market informs account-based selling strategies and builds expertise in an industry segment such as Pharmaceuticals or BioTech. This insight is a game changer for sales teams at the property level.”