IF you haven’t started spending your 2011 marketing budget, it’s time you do! But what does your budget look like and how did you get to it? Is it realistic? Did you position yourself right?
You would think that marketing trends would be closely aligned with consumer trends, since effective marketing is getting our messages where the most qualified customers are focused. Unfortunately that isn’t always the case and if hotels still need to “do more with less” here are some notes about new trends and ways to stretch your marketing spending for 2011.
Reach out to loyal hotel customers and create more personalised communications: The in-house hotel database is often the most productive source as the clients have already expressed an interest towards your hotel or its services.
Creatives used by multiple platforms: Look at how you can exploit your creatives across multiple platforms, whether TV spots, behind-the scenes footage or branded content. Create a campaign that delivers a return on investment and makes the execution pay for its own media space.
Internet marketing: The Internet is a primary tool for the delivery of information and promotions. It refers to using the power of advertising tools such as Affiliate Marketing, Display Advertising, Email Marketing, Interactive Advertising, Search Engine Marketing and Viral Marketing to generate a response from clients. Online marketing offers benefits such as convenience, affordability and provides the opportunity to track results. It allows the smallest hotels to compete in a global marketplace.
Always think return per investment: If you have an expensive marketing niche that pays off in big dividends, keep on spending while exploring other inexpensive strategies. The key to marketing is to make the investment worth the return.
Only produce the materials that is needed: Before spending, hotels need to have a clear plan for how it will be effectively used and ROI regained. Marketing isn’t just an expense; it’s an investment. The key is to market smarter and fully utilise a marketing budget. Here are a few ways to effectively stretch your budget: Market your product at the right time to the right customer. Scheduling marketing activities to take advantage of peak times and avoid the “valleys” (no one is in the market for what is being sold).
Look at market segmentation: Targeted marketing recognises the diversity of hotel customers and enables to target different categories of consumers who perceive the full value of the hotel products. Differentiated marketing builds greater loyalty and repeat purchasing by considering the different customer needs. It creates more total sales with a concentrated marketing effort in selected areas.
Effective use of free publicity: It costs nothing and builds credibility and awareness. Hotel executives can speak at local organisations about generic topics or share their knowledge by writing articles for their industry journals and their own website. Reusing content reduces marketing spent. If a hotel has reasonable up to date marketing resources they should reuse them as much as possible. Photos of hotel products can be used in multiple print ads and sales literature used on websites and paid ads.
Soliciting Marketing Partnerships: Look for businesses with complimentary services to create cooperative advertising campaigns.
Networking: People like to do business with who they know. Networking does not cost much but takes a time commitment and remains a consistent effort.
Multi-touch direct marketing: This increases a hotel’s chance of being insight and inmind at the right time. Hotels generate more by touching 1,000 prospects three times with direct marketing, than by touching 3,000 prospects once. Use search engine optimisation to generate more leads that represent sales opportunities. Hotels need to increase the likelihood of being found at the top of the search engine results. Stretching a marketing budget means getting your money’s worth. Pay per click and pay per call advertising on search engines are highly effective and allow hotels to pay only for qualified leads. With the conversion rates right at ones fingertips, hotels can make quick changes and alterations to their strategic marketing online.
Hotels can leverage social media as another inexpensive way to stay in sight and in mind with clients. All it costs to use social media mediums such as LinkedIn, Facebook or Twitter, is time. Join appropriate LinkedIn groups and search in Twitter related comments to your hotel and or drive conversations.
If something works, stick with it: Many hotels attempt to be super savvy and come up with new promotions all the time. Scrapping existing, perhaps effective but not appropriately utilised campaigns, for new ones is a waste. It not only means the hotel start the ‘reach process’ again, it also means that the hotel is creating unnecessary expenditure.
Do not copy: The look, tone and image of hotel promotions should be dictated by the hotel product and its market – not by other hotel companies.
Hotel marketing is an important part of the business operation. Strategic planning is the key so that hotels have a purpose with each marketing dirham they spend. Creating a marketing plan that incorporates some of the above tips will help hotels have a focus and a variety of venues to reach existing and potential customers and keep the financial picture on track.
By NADA SHESHTAWY
Nada Sheshtawy is managing director at SectorMark Marketing Consultants.