Mastering Yield Revenue Management Strategies
Intro
Yield revenue management is a sophisticated approach that helps businesses enhance profitability through optimized pricing and inventory management processes. As industries evolve, understanding the principles of yield revenue management becomes essential for maintaining competitive advantage. This article explores the core methodologies, tools, and practical applications of yield management and aims to shed light on how businesses can implement these strategies effectively.
Software Category Overview
Purpose and Importance
In the realm of yield revenue management, software plays a pivotal role. The primary purpose of this software is to assist businesses in dynamically adjusting prices based on demand fluctuations, market conditions, and consumer behavior. The importance of using dedicated revenue management systems cannot be overstated. They enable data-driven decision-making, ultimately fostering increased revenue generation and improved operational efficiency.
Among various industries, hospitality, airline, and retail sectors rely significantly on yield management software. By analyzing complex datasets, such software allows organizations to identify optimal pricing strategies, allocate resources effectively, and predict future trends with greater accuracy.
Current Trends in the Software Category
The landscape of yield revenue management software is continuously changing. Recent trends include:
- Artificial Intelligence: Companies are increasingly integrating AI and machine learning algorithms to enhance predictive analytics.
- Real-Time Analytics: Businesses are favoring software solutions that can provide real-time data analysis, enabling immediate decision-making.
- User-Friendly Interfaces: There is a clear shift toward software that offers intuitive designs, making it accessible to a broader range of users, even those without technical expertise.
Data-Driven Analysis
Metrics and Criteria for Evaluation
Effective yield management software relies on various metrics to gauge its performance. Key criteria include:
- Revenue Per Available Room (RevPAR): Particularly relevant in the hotel industry, this metric measures revenue potential by taking occupancy and average daily rates into account.
- Average Daily Rate (ADR): This metric assesses the average revenue generated from each room occupied.
- Occupancy Rate: Understanding the proportion of available accommodations that are occupied can guide pricing strategies.
Comparative Data on Leading Software Solutions
For organizations to select the most effective yield management software, understanding comparative data is crucial. Notably, solutions like SAS Revenue Management, IDeaS Revenue Solutions, and Duetto offer extensive capabilities tailored to different sectors.
- SAS Revenue Management provides advanced analytics tools that help in demand forecasting and price optimization.
- IDeaS Revenue Solutions specializes in dynamic pricing engines that adapt to changing market conditions.
- Duetto is known for its easy-to-navigate interface and integrated cloud-based solutions.
Leveraging these tools allows businesses to capitalize on market opportunities, maximize revenue, and improve overall performance.
Preface to Yield Revenue Management
Yield Revenue Management (YRM) plays a critical role in maximizing revenue across various industries, particularly in sectors like hospitality, transportation, and retail. The essence of YRM lies in its ability to analyze and respond to market demand dynamically, enabling businesses to adjust pricing strategies accordingly. This framework is not just about setting prices; it involves a comprehensive understanding of consumer behaviors, market conditions, and strategic data utilization.
The significance of YRM stems from its foundational impact on a company’s profitability. By effectively managing inventory and optimizing pricing based on real-time data, businesses can enhance their revenue potential significantly. Yield Management allows firms to forecast demand and implement pricing strategies that capitalize on peak periods while offering discounts during lower-demand times. Thus, it not only aids in increasing revenue but also maintains competitiveness in a crowded marketplace.
Key benefits of Yield Revenue Management include:
- Enhanced profitability through optimized pricing strategies.
- Informed decision-making fueled by data analysis of market trends.
- Improved customer segmentation that allows tailored offerings for diverse consumer groups.
Furthermore, the implementation of Yield Revenue Management systems can have substantial operational advantages. The transition from basic pricing models to a more dynamic pricing structure represents a shift towards data-driven management. Companies that embrace this transformation position themselves to respond more adeptly to market fluctuations and consumer preferences.
Moreover, businesses must consider the ethical implications of dynamic pricing. Transparency in pricing strategies ensures customer trust, which is vital for long-term success. Therefore, striking a balance between profitability and customer satisfaction is an essential consideration in any yield revenue management initiative.
Understanding Revenue Management
Revenue management plays a critical role in any industry that deals with perishable inventory. This is particularly true for businesses like hospitality, transportation, and retail. Understanding revenue management involves grasping its methods and techniques for maximizing profitability by selling the right product to the right customer at the right time.
Definition and Purpose
Revenue management is best described as the strategic allocation of resources to maximize revenue. It uses data analysis to predict consumer behavior, allowing firms to set dynamic prices based on demand and supply. The primary objective is to increase average revenue per unit while simultaneously enhancing customer satisfaction. This dual focus can lead to improved financial performance and strengthened market positioning.
Historical Context
The evolution of revenue management can be traced back to the airline industry in the late 1970s. As deregulation opened the market to increased competition, carriers sought innovative solutions to optimize their pricing structures. This movement ushered in the era of yield management, initially focused on maximizing seat occupancy. Over the decades, this approach has expanded into various sectors such as hotels, rental cars, and e-commerce, adapting to the unique features of each industry. Understanding this history is essential for recognizing how these practices have developed and their significance in current business strategies.
Key Concepts
There are fundamental concepts integral to understanding revenue management:
- Dynamic Pricing: Prices fluctuate based on real-time market demand. This ensures that a business captures maximum revenue at every opportunity.
- Inventory Control: Effectively managing the inventory is crucial. Businesses must decide how many units to sell at different price points to optimize profits.
- Market Segmentation: Differentiating customers based on their purchasing behaviors allows businesses to tailor their offerings and pricing.
"Revenue management is not just about pricing strategies but also about understanding customer needs and behaviors."
In summary, understanding revenue management involves much more than theoretical knowledge. It's a practical application grounded in analytics and consumer psychology. By programming business models with these concepts, organizations can significantly enhance their revenues in a sustainable manner.
Core Principles of Yield Revenue Management
Yield Revenue Management relies on a few fundamental principles that help organizations optimize their income. Understanding these core principles is essential for any business seeking to effectively apply yield management strategies.
To start, the concept Dynamic Pricing Strategies stands at the forefront of yield revenue management. This approach enables businesses to adjust their prices in real-time based on various factors, including demand, competition, and consumer behavior. The significance of dynamic pricing lies in its flexibility. Companies can respond promptly to market shifts, ensuring they maximize revenues even in fluctuating conditions. For example, airlines frequently use dynamic pricing, adjusting ticket prices multiple times a day based on demand and seat availability.
The second important principle is Demand Forecasting Techniques. Accurate demand forecasting is crucial for any revenue management strategy. Businesses can make informed decisions by analyzing historical data, market trends, and customer insights. Effective forecasting leads to better resource allocation, reducing overstock costs and ensuring capacity is utilized efficiently. Businesses like hotels and car rental companies often rely on these forecasts to anticipate occupancy rates or booking patterns, improving their pricing and inventory strategies.
Segmenting Customers is the third core principle that affects yield revenue management. It involves classifying customers based on their behaviors, preferences, and purchasing patterns. Tailoring strategies to specific customer segments allows businesses to offer customized pricing and promotions. As a result, they can enhance customer satisfaction and loyalty while simultaneously improving their revenue. For instance, online retail platforms often segment consumers based on previous purchases, providing personalized offers that encourage repeat business.
These principles collectively contribute to a comprehensive approach to yield revenue management. By leveraging dynamic pricing strategies, employing demand forecasting techniques, and effectively segmenting customers, businesses can improve their profitability and decision-making processes. Understanding these elements is vital for any organization looking to enhance its revenue management capabilities.
"Effective revenue management requires a deep understanding of market dynamics and consumer behavior."
Methodologies for Implementation
Effective yield revenue management hinges on robust methodologies which can ensure the optimal deployment of strategies to maximize revenue potential. By delving into structured implementation methods, organizations can not only align their operational capabilities but also fine-tune their approach towards market dynamics. The significance of a thorough implementation strategy cannot be overstated; it serves as the backbone for effective yield management practices.
Data Collection and Analysis
Data is the cornerstone of yield revenue management. Accurate and comprehensive data collection allows businesses to understand their market and customer behaviors—aspects critical to making informed decisions. Companies must gather data from various sources, such as sales history, market trends, and customer demographics.
Once collected, analysis becomes crucial. It is essential to convert raw data into actionable insights. Techniques such as regression analysis and predictive modeling can forecast demand and identify trends. Understanding variables such as seasonal fluctuations and customer preferences can enable businesses to respond proactively. The shift from merely collecting data to synthesizing it into a strategic advantage defines the maturity of an organization's approach to yield management.
"In yield revenue management, data informs every decision, making it indispensable to success.”
Setting Pricing Models
Determining the right pricing model is a pivotal step in yield revenue management. Organizations often face critical decisions related to how to price their products or services effectively, depending on the target segment and market conditions. Common models include cost-plus pricing, value-based pricing, and dynamic pricing.
A dynamic pricing model, for instance, adjusts prices in real-time based on demand fluctuations and market variables. This approach can enhance revenue generation by ensuring that pricing aligns closely with customer willingness to pay. Additionally, psychological aspects such as anchoring and framing play a significant role in pricing strategies. Tailoring pricing models to reflect customer insights ensures relevance and maximizes profitability.
Utilizing Technology
In the digital age, leveraging technology for yield revenue management is indispensable. Advanced tools can aid in data analysis, pricing strategies, and forecasting. Solutions such as specialized revenue management software streamline these processes, providing real-time analytics and predictive insights.
Furthermore, integrating customer relationship management (CRM) systems enhances the understanding of customer preferences and behaviors. The intersection of analytics tools and CRM enables a deeper relationship with customers, fostering personalized experiences. With the continuous advancement in artificial intelligence and machine learning, organizations can not only automate their pricing strategies but also anticipate future trends.
In essence, the infusion of technology in yield revenue management methodologies revolutionizes how businesses perceive challenges and opportunities in their respective markets.
Challenges in Yield Revenue Management
Yield revenue management is not without its challenges. Addressing these difficulties is critical for organizations that aim to maximize revenue and optimize operations. Recognizing the potential obstacles can prevent missteps that are often costly. Moreover, understanding these challenges prepares stakeholders to anticipate issues and develop robust strategies to mitigate them.
Market Volatility
Market volatility poses a significant challenge for yield revenue management. Changes in market conditions can occur swiftly and unpredictably. Economic downturns, shifts in consumer preference, and competitive actions all influence this volatility. Companies may find that their established pricing strategies become ineffective almost overnight. For instance, during fluctuations in airline fuel prices, airlines must adjust their fares instantaneously to respond to increased operating costs. Keeping pace with such changes requires constant vigilance and the ability to pivot strategies quickly.
Data Quality Issues
The effectiveness of yield revenue management relies heavily on data quality. Poor data can lead to incorrect forecasts and misguided pricing decisions. This is a serious concern as inaccuracies can erode trust and lead to adverse financial outcomes. Organizations often struggle with data silos, where valuable information remains trapped in different departments. Data integration across various platforms is essential for providing a unified view of performance metrics. Additionally, regular data audits should be conducted to ensure accuracy and relevance, enabling better strategic execution.
Consumer Behavior Changes
Understanding consumer behavior is fundamental in yield revenue management. However, shifts in behaviors can disrupt established models. The rise of digital marketplaces has transformed how consumers interact with brands. For instance, during the peak of the COVID-19 pandemic, many consumers shifted to online shopping. These changes necessitated rapid adjustments to pricing and inventory management strategies. To remain competitive, businesses must analyze and adapt to evolving consumer patterns. Continuous market research and customer feedback loops are crucial for staying ahead.
"Having comprehensive insights into market trends and consumer behavior is non-negotiable for yield revenue management success."
Organizations must remain proactive in addressing market volatility, data quality issues, and consumer behavior changes. By doing so, they can leverage yield revenue management as a powerful tool for financial performance.
Industry Applications of Yield Revenue Management
Yield revenue management plays a pivotal role across various sectors, enabling organizations to maximize their revenue potential through strategic pricing and resource allocation. The significance of understanding these industry applications lies not only in identifying best practices but also in adapting to the unique market dynamics that each sector possesses. By tailoring yield revenue strategies to specific industries, businesses can enhance their competitiveness, improve operational efficiency, and ultimately increase profitability. The following sections explore how yield revenue management is effectively utilized across three prominent industries: hospitality, transportation, and retail/e-commerce.
Hospitality Industry
In the hospitality sector, yield revenue management is essential for optimizing room rates and occupancy levels. Hotels and resorts frequently encounter fluctuating demand due to seasonality, local events, and shifts in consumer preferences. As a result, effective revenue management is critical. For instance, hotels often implement dynamic pricing strategies, adjusting room rates based on real-time demand, booking patterns, and competitive pricing.
- Benefits of Yield Management in Hospitality:
- Maximized Occupancy: By adjusting rates dynamically, hotels can fill rooms that might otherwise remain vacant.
- Enhanced Revenue Per Available Room (RevPAR): Using yield management techniques increases revenue, significantly impacting greatly this key performance metric.
- Targeted Marketing Efforts: Hotels can focus marketing campaigns on specific customer segments based on their behaviors and preferences.
Furthermore, hospitality businesses can leverage advanced analytics tools to gather insights into booking behaviors, allowing them to create more effective pricing strategies and promotional offers. The operational practices rooted in yield revenue management help hotels to enhance guest satisfaction while simultaneously increasing profitability.
Transportation Sector
The transportation sector, including airlines and rail services, has embraced yield revenue management to cope with highly price-sensitive consumers and fluctuating operating costs. This industry typically experiences significant demand variability, necessitating robust pricing strategies to maximize revenue.
- Key Considerations in This Sector:
- Capacity Constraints: Airlines, for instance, have a limited number of seats available on each flight, making it crucial to optimize fare structures that maximize revenue without sacrificing load factors.
- Competitive Intelligence: Transportation companies must frequently analyze competitors' pricing to make informed decisions regarding fare adjustments.
In practice, airlines often employ sophisticated algorithms to forecast demand and adjust pricing accordingly. These algorithms consider various factors, including historical booking patterns and time until departure, to optimize ticket sales. This strategy not only increases overall revenue but also allows companies to offer fare discounts during off-peak periods, maintaining customer interest while ensuring profitability.
Retail and E-commerce
Retail and e-commerce businesses utilize yield revenue management to enhance pricing strategies and inventory management. The landscape of retail has evolved significantly with the rise of online shopping, necessitating sophisticated approaches to pricing and demand forecasting.
- Highlights of Yield Management in Retail:
- Real-Time Price Adjustment: Retailers can react to market fluctuations by adjusting prices based on demand or inventory levels.
- Personalized Promotions: Retailers can craft personalized pricing strategies by analyzing customer data, improving conversion rates.
For e-commerce, utilizing technology to analyze consumer behavior leads to a nuanced understanding of purchasing patterns. This behavioral insight enables retailers to create targeted offers and manage promotions effectively, ensuring they meet consumer expectations without undermining profitability.
Yield revenue management is not just about pricing; it encapsulates a holistic approach to understanding consumer behavior and market dynamics for sustained success.
Tools and Technologies for Effective Yield Management
Yield revenue management relies on specific tools and technologies that streamline operations and aid decision making. The importance of these tools cannot be overstated. They are essential in monitoring performance, analyzing data, and predicting trends in market demand. When effectively utilized, they can greatly enhance the strategic approach to revenue generation, providing businesses with a competitive edge.
Revenue Management Software Solutions
Revenue management software solutions are pivotal for businesses looking to optimize pricing and inventory. Such solutions allow companies to gather and analyze data across various platforms. Key features of these software solutions include:
- Real-time Data Processing: This ensures that businesses can react swiftly to market changes.
- Dynamic Pricing Capabilities: Companies can adjust prices based on real-time demand and supply metrics.
- Advanced Reporting Functions: Analytics dashboards can help visualize data trends and performance metrics easily, facilitating informed decision-making.
Examples of revenue management software include IDeaS Revenue Solutions and Duetto. These platforms provide tools tailored to industries such as hospitality and e-commerce, enabling companies to maintain a strategic pricing model based on fluctuating market demands.
Analytics Tools
Analytics tools are crucial for businesses aiming to improve their yield management practices. These tools analyze large datasets, offering insights that influence pricing strategies, marketing campaigns, and customer engagement. Key advantages of employing analytics tools include:
- Predictive Analytics: Businesses can forecast future demand based on historical data, allowing for better planning.
- Segmentation Analysis: Segmenting customer data can help in tailoring marketing efforts and optimizing offers.
- Performance Metrics Tracking: These tools provide the capability to monitor key performance indicators (KPIs) effectively.
Popular analytics tools include Tableau and Google Analytics. These tools support companies in making data-driven decisions while improving overall operational efficacy.
Customer Relationship Management (CRM) Systems
Customer Relationship Management systems are vital for integrating yield management practices with customer interactions. CRM systems help businesses to maintain records of customer interactions, preferences, and purchasing behaviors. The integration of CRM with revenue management can yield several benefits:
- Enhanced Customer Insights: Detailed customer profiles enable tailored marketing and pricing strategies.
- Improved Customer Engagement: With better data management, businesses can engage with clients more effectively, leading to higher customer satisfaction.
- Streamlined Operations: CRM systems improve communication among teams, allowing for a cohesive approach to pricing and customer service.
Tools such as Salesforce and HubSpot exemplify robust CRM systems that allow for seamless integration with revenue management strategies. These platforms help firms in crafting personalized experiences for clients, ultimately driving repeat business and improving profitability.
Using appropriate tools and technologies in yield management not only enhances efficiency but also leads to more informed decision-making.
Case Studies in Yield Revenue Management
Case studies serve as a pivotal component in the analysis of Yield Revenue Management (YRM). They provide real-world evidence of how theoretical principles and methodologies translate into practice. Understanding practical implementations and challenges encountered by organizations equips professionals with insights that can lead to better decision-making. Additionally, case studies highlight successes and pitfalls, offering valuable lessons for future applications.
Successful Implementations
Successful implementations of Yield Revenue Management demonstrate the effectiveness of strategic approaches to pricing and inventory management. One notable example includes Marriott International, which has optimized revenue through its dynamic pricing strategies. By analyzing trends in booking behavior and competitive pricing, Marriott has enhanced its occupancy rates during peak and off-peak seasons. This adjustment not only improves revenue but also ensures efficient resource allocation.
Another significant case study is Delta Air Lines, which utilized advanced forecasting techniques to predict passenger demand. Delta's approach integrates data analytics to adjust flight availability and optimize ticket prices according to real-time market conditions and consumer behavior. This responsiveness has allowed Delta to maintain a competitive edge in the turbulent airline industry by maximizing their revenue while ensuring customer satisfaction.
Implementations like these illustrate that well-structured yield management systems can substantially increase profitability by leveraging technology and data analysis.
Lessons Learned from Failures
While successes in yield revenue management abound, failures also offer critical learning opportunities. One such instance is Blockbuster, which suffered immensely due to inadequate adaptation to changing consumer preferences. The company failed to diversify its pricing models and did not leverage demand forecasting effectively. As streaming services gained traction, Blockbuster's inability to modify its pricing and inventory strategies contributed to its decline in customer base and revenue.
Similarly, Sears provides another cautionary tale. The retail giant struggled with integrating technology in its revenue management practices. While competitors embraced new data analytics tools for inventory and pricing decisions, Sears lagged behind. Consequently, the brand lost relevance in a rapidly changing retail landscape, emphasizing the importance of technological adoption and flexible pricing strategies.
These failures underline the necessity of continuous monitoring, adaptability, and technological integration in yield revenue management. Organizations must learn from these cases to avoid pitfalls and enhance their revenue strategies.
By studying both successful and failed implementations of yield revenue management, businesses can craft more informed, adaptable approaches that not only enhance their revenue but also drive sustainable growth.
Future Trends in Yield Revenue Management
Yield revenue management is evolving rapidly. The integration of technology is reshaping how businesses strategize their pricing and manage their resources to maximize income. Understanding future trends is crucial for organizations seeking competitive advantage. These trends can provide insights into optimizing revenue and customer satisfaction.
Integration of AI and Machine Learning
The incorporation of artificial intelligence (AI) and machine learning into yield revenue management is significant. These technologies analyze vast amounts of data at incredible speed. They help to identify patterns and predict future trends with higher accuracy.
For instance, AI algorithms can evaluate customer behaviors and market conditions in real-time. This capability allows businesses to adjust their pricing dynamically based on demand fluctuations. Machine learning can update its models continuously, ensuring that pricing strategies remain relevant. Some benefits of AI and machine learning integration include:
- Enhanced Predictive Analytics: Better forecasting of customer demand and market trends.
- Optimized Pricing Models: The ability to engage in dynamic pricing that reflects current conditions.
- Increased Efficiency: Automating routine tasks so that human resources can focus on strategy and creativity.
Considerations
However, integrating AI and machine learning is not without its challenges. These include data quality concerns, the need for continuous training of algorithms, and ethical considerations regarding price discrimination. Companies must be cautious and strategic in adopting these technologies, ensuring compliance with regulations and ethical standards.
Personalized Pricing Models
Personalized pricing is another trend that is gaining traction. This model uses consumer data to tailor prices to individual customers or segments. The idea is to increase conversion rates by offering prices that reflect a customer’s willingness to pay based on various factors including browsing history, previous purchases, and demographics.
Personalized pricing can enhance consumer experience. It creates a perception of value and can lead to increased customer loyalty. However, some challenges exist:
- Data Privacy Issues: Customers are becoming more aware of how their data is used, raising concerns about privacy and security.
- Market Acceptance: Not all customers may respond positively to personalized pricing strategies, potentially leading to dissatisfaction.
Benefits
Despite these challenges, personalized pricing models can significantly boost revenue. By catering to individual needs, companies can enhance their offerings and differentiate themselves from competitors.
Key Insight: The future of yield revenue management lies in leveraging AI and personalized pricing strategies to create more effective, customer-centric business models.
Ending
In concluding this exploration of yield revenue management, it is pivotal to recognize its fundamental role in enhancing profitability across various industries. Yield revenue management is not just an operational strategy, but rather a central component that influences decision-making processes, improves resource allocation, and fosters long-term sustainability.
The benefits of implementing yield revenue management practices are manifold. Organizations that leverage these principles can optimize pricing models, thereby maximizing revenue potential while still attracting a diverse customer base. One of the core considerations when adopting this framework is the need for a robust data infrastructure. High-quality data collection and analysis are essential in understanding market dynamics and consumer behavior. Without accurate data, any yield management strategy is likely to falter.
Moreover, as companies face increasing market volatility and consumer preferences that shift rapidly, the agile approaches embedded in yield revenue management become even more crucial. Organizations must be adaptable, utilizing analytics to forecast demand accurately and adjusting their strategies in real-time.
In summary, the effective utilization of yield revenue management principles allows businesses to gain a competitive edge. By adopting sophisticated pricing strategies and technology-driven methodologies, firms can position themselves advantageously in an evolving marketplace.
It must be noted that ongoing education and adaptation are vital. As technologies and market conditions change, so too must the approaches to revenue management. This article serves as an introductory guide, underscoring the importance of informed practices and continuous learning within the realm of yield revenue management.
"Success in yield revenue management is not just about maximizing profits; it’s about making informed decisions that resonate with market realities."
For further insight into the nuances of yield revenue management, consider delving into additional resources such as Wikipedia or industry-related discussions on Reddit.
By synthesizing the principles, challenges, and methodologies outlined in this article, readers now have a foundational understanding that can guide the strategic implementation of yield revenue management in their specific contexts.
References and Further Reading
In the realm of yield revenue management, thorough research is essential. This article’s comprehensive coverage lays a good foundation, but delving into references and further reading greatly enhances understanding. Engaging with a variety of sources provides fresh perspectives and deeper insights into specific areas of interest.
One benefit of assembling an informative reference section is that it serves as a pathway to expert opinions. Readers can compare methodologies, explore case studies, and assess the impact of various technologies applied in different industries. These additional materials often contain empirical data that can support or challenge claims made in this article.
Key Considerations for References and Further Reading
- Diverse Perspectives: Referenced materials can come from various sectors, such as hospitality, transportation, and retail. Exploring these areas can lead to a broad understanding of how yield management practices operate across different contexts.
- Historical Context: Historical texts shed light on the evolution of yield management. Understanding its origins helps grasp current strategies and challenges.
- Engagement with Current Trends: Literature that discusses the modernization of yield revenue management helps identify emerging trends, notably the integration of artificial intelligence and machine learning.
"The understanding of yield revenue management is greatly enhanced through continuous learning from various scholarly articles and industry reports."
Suggested Sources
Here are some recommended sources for further investigation:
- Wikipedia: Offers a general overview of revenue management concepts, historical context, and definitions. See en.wikipedia.org.
- Britannica: Provides researched articles that delve into advanced concepts and practices related to yield revenue management. Check britannica.com.
- Reddit Discussions: Online forums, such as those on Reddit, can serve as informal yet helpful discussions around yield management challenges faced by professionals. Browse relevant threads on reddit.com.
- Facebook Groups: Engaging with specialized groups on Facebook can provide networking opportunities and additional resources shared by industry peers. Visit facebook.com.
