Wednesday, 7 January 2015

Revenue Management: Shaken not Stirred!

James Bond has taught all of us a thing or too. We know how to wear tuxedo's correctly, jump from buildings and conquer the villains time and time again. He also taught us that the best martinis were those shaken and not stirred.

Stirred Martini? Such an exciting and glamorous cocktail created by the gentle stirring with a dull metal spoon? On the other hand, we can really awaken the flavours and catch the attention on everyone around with the loud action of "shaking"! Now that sounds more like it. Dull and gentle stirring or loud and exciting shaking? The answer is obvious!

Revenue Management, still within the first two decades of its infancy, is growing up. We have gradually created a following of believers with our stirred cocktail of techniques and insights. Stirring is good for early adoptees of Revenue Management, but not exciting once we acquire the taste. Revenue Management practioners now need to up their game, and develop a more sophisticated taste. We need to start "shaking". Sure we are responsible for converting and optimising the demand created by Marketing, Branding and Loyalty initiatives, but who is going to be content with simply "stirring" of these efforts and the spend and resources behind them?

Today's smarter Revenue Managers recognise that "shaking" is what is required to get ahead and stay ahead. Our insights, experience and knowledge are now required to SHAKE things up. We need to step into the spotlight and make our voices heard. We need to move from Revenue Management and Data Analysis, unlock ourselves from Excel and start shaking things up. Our analysis has revealed insights, and these insights need to challenge, ignite and change the boring old recipes of the past. We talk "strategic", but do we shake things up sufficiently for these insights to blow up old stratgies and formulate new ones.

Makes you think, doesn't it. Will you be a Bond or a Villain? Shaker or Stirrer? The choice is yours, so what will you be?

For guidance and insight into improving your own Revenue Performance, get in touch with us here. It is probably the best move you will make today!

Duncan Bramwell
Revenue Performance Ltd.

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