"Marriott.com captured 68% of the bookings among members who visited Marriott Rewards in November 2008, the highest Share of Wallet among all competitors,"* says Ryan Carigg. Share of Wallet is typically measured by the amount of money a customer spends on your brand in preference to other brands. As Carigg's bar chart shows (see below), the gap is closing between Marriott Rewards, HiltonHonors and IHG-Priority Club. These three brands are targeting increased bookings from similar if not identical groups of customers.
Since the announcement of the 2009 changes to the Marriott Rewards Program, what are the top 3 services you rely upon for business or leisure that Marriott continues to provide you in comparison to the services from the competing brands listed? Rather than give examples which can be unnecessarily restrictive, for the moment - this is an open-ended discussion. Try to quantify the change in % plus or minus or any terms you feel comfortable.
WalnutBaron & SteppingStones
All loyalty programs measure how much money members spend on business stays, leisure nights, vacation ownership along with business spent with partners from credit and finance services, air travel, car rental, merchandising and more. What Marriott has done extremely well is to leverage a core set of strengths in hospitality services and surround them with ancillary services to get a larger share of wallet.
How has your relationship/loyalty/share of wallet changed since the 2009 changes to the program? What impact did the changes have on your preferences? WalnutBaron's answer is on-point. A % of his business stays has shifted from Marriott to Starwood. This prompts a follow-up question. When you shifted business to Starwood, did you continue to rent from Hertz? What about choice of airline? How did the shift in loyalty affect the other decisions you make when it comes to business or leisure travel?
Interestingly, this news release appeared on CNBC yesterday, "Hyatt Launches Global Hospitality Initiative --'The Big Welcome' ushers in a new era of authentic hospitality with a larger-than-life kickoff to an expanded Hyatt Gold Passport(TM) loyalty program." * Hyatt Gold Passport has some serious ground to cover, and the 2009 changes to Marriott Rewards might help them.