6 Questions Hotel Marketers Must Ask Themselves
Before hotel brands spend money on marketing, asking themselves the following six questions could help them better allocate their budgets, says HospitalityNet.org.
In his post on June 14, Larry Mogelonsky says:
“These questions are not necessarily the easiest and will probably require some data analysis. But, the work done in the process will be worth it, given the potential return on financial investment. Obviously, involving your revenue management team would also serve you well.”
What Segment Yields the Best ROI?
After finding that out, figure out how best to target consumers in that segment — with messages based on personas? If there’s a loyalty program and this group doesn’t yet get extra rewards, maybe add a few based on their behavior?
Mogelonsky suggests that hotel marketers review three years of data, including average daily occupancy rates, how much third-party booking sites are impacting revenue, how much direct booking increases revenue, what impact group sales cause and “trend the data.”
How Does Your Marketing Compare With the Competition?
Examine the competitions’ marketing during the past year, find strengths and weaknesses and “exploit” two or three of them in your marketing for the year, Mogelonsky writes.
How Should You Market for the Off-Season?
Every business is different, and each may have its own definition of an off-season.
“For example, in the Northeastern U.S.,” Mogelonsky says, “most hotels will experience lower occupancies from January through until Easter. Yet, despite knowing these months in advance, typically little is done until a few weeks prior. Planning needs to begin a full season before. New initiatives should be trial-tested during higher occupancy periods so that the process can be refined and so word of mouth can build.”
How Can You Double Your Wedding Business? (Should You?)
Target Marketing added the “should you” question, because weddings may not be the core business for particular hotels. Some facilities cater best to business clients, for instance.
However, if this is applicable to your hotel, Mogelonsky suggests you explore what differentiates your hotel and how that can help you gain market share from competitors in this area. For instance, winter weddings are becoming more popular. What do you have to offer in that area?
How Are You Addressing Changing Demographics?
Baby Boomers are upping their spend on luxury travel. Millennials are entering the market and may not know you exist. How is your marketing addressing the changes?
If You Had a 25% Larger Budget, What Would You Do With It?
When hotel marketers ask themselves this, it reveals the highest priority and, by default, the lowest priority. Mogelonsky stresses that hotel marketers don’t need a third party to tell them what comes first — they know it themselves.
What do you think, travel and hospitality marketers?
Please respond in the comments section below.
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