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Reservations.com Co-Founder Yatin Patel Recognized in 2019 “Outstanding 50 Asian Americans in Business” Awards

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Reservations.com Co-Founder and CEO, Yatin Patel, was recently recognized for his business and philanthropic contributions in the 2019 Outstanding 50 Asian Americans in Business awards. “It is humbling to be recognized alongside such an accomplished group of professionals who are playing a pivotal role in driving sustained economic growth and job creation in the United States. I want to personally thank Mr. Wang and the entire Asian American Business Development Center for the honor,” said Mr. Patel.

The Outstanding 50 Asian Americans in Business Awards Gala Dinner was first established in 2001 by the Asian American Business Development Center, which has remained the most prestigious forum to highlight the achievements of Asian Americans business professionals across the U.S. The award recipients represent a microcosm of the best of Asian American entrepreneurs, professionals, and corporate executives who are engaged in a wide range of business interests, and all of whom have a role in driving the U.S. Economy.

In addition to Mr. Patel’s “Outstanding 50” recognition, Reservations.com also received a 2019 Central Florida Fast 50 award, a Great Place to Work® certification, a 2018 Best in Biz award, and a 2017 Bronze Stevie Award for best hospitality and leisure website.

The 2019 “Outstanding 50” will be honored at a Gala Awards Dinner on Thursday, June 20th. The event is being held at Cipriani Wall Street and attendees will include over 600 government, business, and civic leaders. The full list can be found here.

Patel is an active and philanthropic member of the Orlando community, and has served as a board member with: The Dr. Phillip Performing Art Center, University Club of Orlando, and the Orlando Film Festival, OnePulse Foundation. He is an active member of YPO (Young President Organization), CEO ( Chief Executives Organization ) PathNorth, Washington DC based Leadership Organization.

Patel is a nationally recognized photographer, currently exhibiting his collection entitled SUTRA (yatinpatel.com). Lending his artistic talents to philanthropic causes, he has hosted art gallery fundraising events both locally and nationally.

About Reservations.com

Reservations.com is an award-winning online travel company on a mission to bring the human-touch back to online travel. Founded in 2014 with a focus on helping consumers create memorable travel experiences, Reservations.com has experienced rapid growth. Reservations.com’s user-friendly website offers unparalleled visibility into hotels, including: descriptions, pricing information, and reviews of nearly 500,000 properties globally. The company is on a journey to enable customers to not only reserve hotels, but to create memories. For more information, please visit www.reservations.com.

About the Asian American Business Development Center

The Asian American Business Development Center, Inc. is a 501(c) (3) non-profit organization established in 1994. It assists Asian American businesses in strengthening their capacity to compete in the mainstream market, to expand business opportunities and to promote recognition of Asian American businesses’ contributions to the general economy. For more information about the AABDC, please visit www.aabdc.com and for the Outstanding 50 Awards, please visit www.outstanding50award.com

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Report Shows Disney Dethrones Apple as the Most Intimate Brand in the World

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Every year MBLM does a Brand Intimacy Study to find which brands customers are most loyal to. It is the largest study of its kind, surveying 6,000 consumers. Participants are asked questions about which brands they use regularly, how they feel about those brands, and if they feel that they could live without the brands’ products.

This year, Disney managed to top Apple for the first time ever. Other brands in the top ten list included Amazon, Chevrolet, Netflix, Harley Davidson, Playstation, and YouTube. To see all of the details, you can download the full Brand Intimacy Study on MBLM’s website.

It’s not surprising that Disney has built such a strong following. With the Avengers and the Marvel Universe rocking the box office, related merchandise, shows, and events are drawing in record-breaking crowds. And, this is only the cherry on top of the Disney empire.

Disney has been a household name for generations. From Mickey Mouse to Disneyland to the Disney Channel to Star Wars and on and on. Disney has been on a solid growth trajectory for years and there’s no end in sight. Part of the reason that Disney is so successful is that it prioritized its relationship with consumers.

Brand intimacy has a significant impact on a company’s ability to survive and thrive.

According to MBLM’s Brand Intimacy Study, building brand intimacy creates price resilience and builds customer loyalty.

According to Digital Authority Partners, when consumers feel a bond with a brand, they are willing to pay more for their product than the product of a competitor. MBLM says that many of these consumers are willing to pay up to 20% more.

This willingness stems from an emotion-centered marketing strategy. For Disney in particular, nostalgia plays a big part in their marketing campaigns. The longevity of the brand has allowed for devoted consumers to pass their favorite movies or toys on to their children through multiple generations. The desire to purchase a product is pursued by a child and a parent.

The ability to pass on this brand intimacy to the next generation is made possible by a willingness to keep up with new technology. If Disney still produced the same sketch-cartoons of Steamboat Willie, the company would have died out decades ago. However, Disney is always looking for ways to stay in the spotlight.

A great example of this is Disney’s upcoming streaming service, Disney+.

The way that we view movies and TV shows is changing. Streaming services like Netflix and Hulu have paved the way for others. Disney, seeing this opportunity, has opted to remove their content from these streaming services so that they can remain exclusive to their own service.

Judging by the results of the Brand Intimacy Study, this will be a successful venture.

With big brands like Disney or Amazon, it can be extremely difficult to build a name for yourself as an emerging business. But, brand intimacy may be the answer to this problem.

It’s not enough anymore to have a good product. It’s so easy for another, bigger company to come along and start selling a similar product–and they already have the customer loyalty to back it up.

One great way for businesses to differentiate is to start building that emotional attachment with their customers by adopting a data-driven marketing approach. Business can build a connection by gauging customers’ interests with regards to what matter the most to them.

One strategy that has been leveraged more and more in recent years is the practice of giving back to a cause that a company’s target audience is passionate about. That is in line with recent report findings which show that Generation Z (young people aged 16 to 30) are particularly interested in giving back to the community according to a recent study.

To that effect, for example, Kool8, a company in Chicago that produces water bottles, has put in place a very clear give-back policy for their products. For every bottle that is sold, 20% of the profit will go towards providing clean drinking water for underprivileged areas of the world.

Another example is the Tiesta Tea Foundation. They work to support people in economic hardship, raise awareness and acceptance for people with special needs or disabilities, and also work to bring clean drinking water to developing countries.

These businesses go above and beyond distributing their product to help others in need and build brand intimacy. By working to solve problems that consumers care about, they earn their business and their loyalty. These tactics create an emotional bond with the product that the consumer would not typically feel with a new business or product.

Focusing on brand intimacy is a new norm for successful businesses. We’ve seen the success of a good brand intimacy building campaign from Disney, and you can bet that they are not going anywhere any time soon.

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