If you’ve worked in obtaining technology for your hotel in the past 10 years or more, you may have come across the concept of the MVP. No, we aren’t talking about the next best sports star. In this instance, an MVP is a Minimum Viable Product.
Let’s consider this term from the position of acquiring new technology. The release of an MVP is often driven by the need to get a project or new product into production as soon as possible, often for as little cost as possible.
Why? In our industry, we are often driven to “check the box” from a technology acquisition perspective. Perhaps it is budget driven, perhaps it’s to stay ahead of, or in line with the competition, or perhaps it comes as a directive from the brand or ownership.
Regardless of the reason, consider the following when looking to incorporate an MVP into your technology strategies.
- Look at the vendor’s track record – As with any major purchase, or business decision, look at the track record of the vendor and the team that will implement the solution.
- Consider how it scales – Obtain a full implementation plan from the vendor to ensure the solution can scale to your operation. Don’t forget to include any partners that may be required to work with the new solution.
- Determine metrics for success – Ensure you have developed metrics to determine the success of the MVP. Specifically, KPIs on guest adoption, satisfaction, staff efficiency, cost and operational impacts such as time savings or improved service levels.
- Know when to quit – Including a plan for when to quit is as important as implementation. Follow your KPIs to track the success of the project and know to back out. It is okay to fail – that’s how you learn and grow.
To view the entire article by Knowland CEO Jeff Bzdawka, visit HOTELS Magazine.
If you’re a hotelier who’s ready to find and book more meetings while streamlining your sales process, schedule a demo with one of our prospecting pros. We’ll ensure you have the right information to capture the best opportunities for your property.
