The Voice of Revenue

In this episode, I discuss the concept of clean distribution and provide five clever tips to help you achieve as close to clean distribution as possible. Clean distribution refers to the mapping of A to B and ensuring that the right recipients receive the intended content. I explain the different setup options, such as one-to-one, one-to-many, and many-to-many relationships, and their advantages and disadvantages. I also emphasize the importance of identifying and removing unnecessary rate codes. Lastly, I outline a five-step process to transition from dirty to clean distribution.

In this episode, I discuss the topic of automation and its impact. I address the question of whether or not to automate, highlighting the benefits of automation in terms of productivity and efficiency. However, I also emphasize the need for critical thinking and the potential drawbacks of relying solely on automation. I explain how automation can limit our ability to think critically and make informed decisions. Additionally, I discuss the importance of oversight in automation processes and the inherent flaws in algorithms. 

00:00 Introduction
00:52 The Influence of Automation
02:45 Automating Pricing
04:28 Automation without Oversight
06:20 Data Sanity Issues and Disparity

Hey there! In this episode, I'll be sharing the three key things that every Revenue Manager needs to know in order to excel in their role. First and foremost, it's crucial to know your numbers inside out - from averages to trends and performance metrics. Secondly, effective communication is key, as you'll need to turn complex data into a compelling story that resonates with your audience. Lastly, assertiveness is essential. It's about confidently presenting your case, taking accountability, and making decisions that drive results. So, let's dive in and explore these three game-changing strategies together. And don't forget, I challenge you to test your knowledge of your numbers and start building those connections with others. Let's kick ass together! 🚀

In this episode, I dive into the concept of pricing power and how it can help you make more money in revenue management. I explain the difference between positioning and pricing, and how subjectivity and algorithms play a role. I also discuss the key components of pricing and the resulting pricing power: sales, marketing, operations, product, and price. By optimizing each of these areas, you can attract new consumers, drive more penetration, and deliver a valuable experience. Enjoy the show to gain a deeper understanding of pricing power and how it can impact your revenue management strategy.

Hey there! It's Friday and I hope you're having a great day. Today, I want to talk to you about your brain and how it's hugely important in the entire realm of revenue management. There are a lot of studies out there about IQ, EQ, and AQ, and AQ is going to be more and more important. 
 
 This becomes important when you go for your jobs in the future, all of a sudden they kind of go like, oh yeah, you were the revenue manager, but, uh, can you do marketing? Can you do sales? Can you do e-comm? Right. And all of a sudden you gotta be more than just a jack of all trades. You gotta be a mini expert in all of those fields. 
 
 In this episode you will learn how you can increase your AQ with simple steps to supercharge your career.

Hey there! In this episode, I'm going to share some tips and tricks on how you can use lead time to increase revenue for your property. I'll share an example of how we did this in our hotel and drove 100% more revenue than before. Let's simplify things and make smarter decisions that have higher revenue return! If you're not sure where to start, feel free to reach out to me for guidance. Love, Fabs

Hey there! In this week's episode of the Voice of Revenue, I want to talk to you about the paradox of choice in data. You see, the industry is going crazy about data again, but more data doesn't always mean better decisions. The paradox of choice tells us that when we overload users with too much data, they tend to make suboptimal decisions. This is especially true if they're not experts in the field they're making decisions in. So, while data has its place, complexity doesn't have to be there every single time. Sometimes, it's just something that happened. In this video, I'll explain why more data doesn't always equal better decisions and how to avoid getting caught in the analysis paralysis or the paradox of choice. So, let's dive in!

In this compelling episode, we delve into the hidden fear haunting revenue managers - not a fear of automation or competition, but of the unknown and appearing unprepared. We explore how proper, unbiased data analysis can illuminate answers to the tough "why" questions and inform decision-making. Tune in to learn about embracing the unknown, enhancing your understanding of data, and having the courage to innovate in the complex world of revenue management.

This podcast episode navigates the intriguing dilemma between all-in-one platforms and best of breed systems in the tech space. Drawing parallels from the supermarket model, it offers a detailed analysis of the advantages and potential challenges of both approaches. From customizability, specialization, and innovation in best of breed to seamless data integration, ease of use, and cost-efficiency in all-in-one platforms, it is a thought-provoking discussion for anyone seeking insights into tech system choices. The episode promotes an understanding that the right choice often boils down to individual needs and emphasizes the increasing trend towards a hybrid model.

In this episode of the Voice of Revenue, we emphasize the indispensable role of revenue management in maximizing profitability in the hospitality industry. We offer a step-by-step guide for beginners, starting from data collection and analysis to forecasting and implementing dynamic pricing strategies. By the end of the episode, listeners will gain valuable insights into various distribution channels and the importance of regular reporting, demonstrating that mastering revenue management can be accessible and manageable.

In this week's episode, we explore two recent developments in the industry: Airbnb's launch of rooms and Marriott's inclusion of resort fees. We delve into the difference between innovation and invention and how they apply to revenue management. Learn how to optimize and innovate your product for different customers and companies in the digital space. Join us for a thought-provoking discussion that will inspire you to take your revenue management to the next level.

Inspired by:

Bob Graham - Event Temple
https://www.linkedin.com/feed/update/urn:li:activity:7059565079838539776/

Sean O'Neill- Skift
https://skift.com/2023/05/01/marriott-to-include-resort-fees-in-total-prices-breaking-new-ground-in-lawsuit-settlement/

Welcome to another show of the Voice of Revenue. And today, in the left corner, Data Science and in the right corner, Decision Science. Hold onto your seats as we explore the intricate world of decision-making and the role of data science and decision science in revenue management. Join us as we uncover the strengths and weaknesses of each discipline and how combining them can provide that strategic commercial edge to boost profits and make a lasting impact.

In this episode, we dive into understanding the importance of data for your business, breaking down the 5 V's and focusing on the value it provides. We'll guide you through a practical exercise to identify your top 3 data sets and reveal how their importance may shift in different demand situations. Tune in to decode the secrets of data and take your decision-making to the next level.

Today, we'll dive into the world of strategic decision-making in the hospitality industry, exploring the critical factors that impact your revenue performance. Get ready for a rollercoaster of insights as we uncover the secrets to navigating restrictions, pacing, and pricing. Don't miss out on this game-changing episode that promises to challenge your perspective and elevate your revenue game!

In this week's podcast episode, we delve into the drawbacks of routine revenue meetings and their impact on performance. We discuss innovative approaches to revenue management, including agile decision-making and leveraging anomaly/outlier reporting. Finally, we explore the power of collaboration and agility to transform your revenue management strategies, leading to increased productivity and better results.

In this episode, we're talking about the importance of cash flow in your business and how to avoid common mistakes that can lead you to feeding somone else's cashflow. From pre-buy deals to rate structures, we're cutting through the BS and giving you the real scoop.

In this episode of the Voice of Revenue, we explore the fundamental question of how to structure your business model in revenue management. With staffing becoming the new luxury, we examine six ways to approach staffing and the pros and cons of each approach.

Key take outs: Bonus points if you know what intro I was humming :-)

• Is hiring someone killing your revenue? 
• Can you make a mistake with outsourcing in revenue management?
• Want to save money? DIY your revenue management! But beware of this costly mistake...
• The hybrid revenue management model, My favorite. Is it right for you?
• Is there a secret to doing more with less in revenue management? and if so, at what cost?
• Could your revenue management model be holding you back? Rethinking your business

In this episode we break down the three essential components of revenue management: automation, optimization, and experimentation. While automation can be great for streamlining processes, it can also lead to problems without proper oversight. Optimization is important, but real game-changing growth comes from experimentation and pushing beyond your comfort zone.

• What are the benefits of automation and what is needed to avoid issues?
• Why experimentation is important for driving growth
• How you can embrace experimentation to innovate
• The differences between automation, optimization, and experimentation and how it is driving success

This week the Voice of Revenue is in for a wild ride into the world of change management. Buckle up and get ready to break up with your comfort zone, combat negative self-beliefs, and learn how to be a hero of change in your personal and professional life.
 
 With unconventional approaches like the "beep" and parenting methods, and practical tips for collaboration and driving ROI, you'll come away inspired and ready to take on any challenge. Are you ready to embrace change and become a true revenue management hero? Let's go!