Account-Based Selling at the Local Market Level
In 2024 and beyond, trends at the neighborhood level present a competitive advantage for sales teams. With a localized market view, hospitality sales teams can identify top accounts booking in their immediate area rather than sifting through broad datasets.
Hotels and hospitality businesses need account intelligence beyond the market level, allowing them to drill down into sub-market activity. That’s why we are excited to announce a new, highly-requested feature. The latest Knowland Platform update allows users to prospect by sub-market. This feature enables users to focus on the most relevant areas with easily digestible local market data. Additionally, users can view the previous booking activity at account and industry levels, shedding light on the segments feeding business into the area.
What is a Sub-Market?
A sub-market is a smaller geographical area that is part of a bigger market metro area, such as the Arlington, VA sub-market in the Washington D.C. market. This sub-market may have its own unique industry demand, booking trends, and competition, which could differ from those of the larger market.
How Can You Use Sub-Market Data?
Highly localized market data provides a more targeted analysis and offers multiple benefits for busy sales teams. By leveraging local insights, hospitality sellers can make informed decisions and take actions in a more laser-focused fashion, leading to faster, greater revenue acquisition. Use cases can include the following and more.
- Identify incoming and outgoing activity: Sales and revenue teams can identify both incoming and outgoing booking behavior, providing valuable insights into their customer base’s behavior.
- Target the most active industries: Gain a clear understanding of any sub-markets active industries to focus prospecting efforts on segments most likely to convert.
- Personalize outreach by sub-market: Local-level data gives hotels and venues access to activity in specific areas. These insights enable them to personalize sales and marketing strategies to reach a desired audience.
How to Take Action with Knowland’s High-Demand Sub-Market Filter
To locate the filter, click the Property Attributes tab and click the Property Booking Location filter. Next, select the Sub-Market tab. Under this tab, you will find a list of Sub-Markets associated with their respective Markets. The Sub-Market filter is a multi-select filter, similar to the Market/Region filter. It has a search box and an “Add My Sub-Market” button, which helps you filter your search results.
Click here for a quick video preview.
Coming Soon: The Most Active Industries Alert
Target key industries with this new report from Knowland. Sub-market functionality now powers the latest feature available to everyone in February and is being released to select markets in January — the Most Active Industries Alert. Users will receive a monthly recap email listing the three most active industries in their sub-market for the previous month, plus an Excel attachment with up to 25 top accounts from those industries. The attachment delivers a quick hit list to ensure sellers know what accounts are driving the most business in their market’s most active industries. The email will also include a hyperlink to log in and view the full account list on the Knowland platform.
Learn More About Adding Sub-Market Data to Your Strategy
By analyzing sub-market data, hospitality teams can identify accounts most likely to book their property. Further analysis through the Knowland Platform provides insights into customer behavior and market trends, allowing sellers to personalize outreach at a more refined level. For more information, request to speak with an expert here.
Already using Knowland? Reach out to clientcare@knowland.com.
