Prepare For Better Hotel Marketing and Revenue Management

How To Prepare For Better Hotel Marketing and Revenue Management With A Vaccine For COVID-19 Coming Up?


How To Prepare For Better Hotel Marketing and Revenue Management With A Vaccine For COVID-19 Coming Up

Fuel Travel’s latest survey confirms that revenue growth in the hotel industry is on the charts. According to the study, almost a half ( 45%) of leisure travellers in North America dropped their vacation plans due to the Coronavirus outbreak. But with the delivery of potential vaccines around the world, travellers have started to repack their bags. In fact, 59% of travellers have already started to plan their vacation in 2021. These numbers are a clear sign that most people are still craving to travel. As domestic and international travel opens up for business again, hotel owners are busy planning the perfect hotel marketing strategy to attract new customers. If you are looking for some successful hotel marketing ideas to boost your revenue, read on –

How To Increase Revenue In The Hotel Industry Through Marketing?

Revenue growth in the hotel industry is directly related to its marketing campaigns. It is simple – the more eyeballs you grab, the more money you make! While it is great to have a long term hotel marketing strategy, invest time in executing your month-on-month marketing ideas too. It is important to stay flexible, especially during the initial months of reopening. You will need to direct your efforts to spark an initial interest within the travellers’ community. It would be a good idea to start with interacting with your potential customers. Reach out to your previous guests to see if they are planning to travel. Social media is a great tool to test your marketing ideas and gain feedback. For a detailed hotel marketing strategy, we recommend the following model:

4-Step Model For Revenue Growth In Hotel Industry

Step 01: Get the word out:

Letting people know that your hotel is welcome to host guests again is the first step to get the cash flowing. As the hotel industry bounces back, your primary focus should be on creating awareness about your hotel’s offerings. Visual marketing tools on social media creatives can help you reach your audience with 80% accuracy. Dedicate a major portion of your marketing budget to top of the funnel marketing activities like generating awareness about your hotel and the experiences it offers. You may need to consult a travel marketing expert to help you identify potential users who are inclined to travel.

Step 02: Build your booking pipeline:

Once you have a few potential leads, drive your energy to convert them. The most common way to engage a lead is by promoting an exclusive discount or offer. Digitally, you can use tools to remarket your hotel to the audience of your choice. Some tools even let you automate your marketing initiatives, so you can focus on delivering a personal experience to your guests. When distributing your marketing budget, you can follow the 60-40 rule i.e 60% for marketing awareness, 40% for discounts, offers, etc.

Step 03: Collaborate and Upsell:

In order to grow your revenue, you will have to collaborate with other complementary businesses to upsell your inventory. A typical example of an upsell campaign is working with a local spa to offer an exclusive guests-only discount. You can prompt your guests to opt for these personalized offers at the time of booking. Depending on the type of guests you are targeting, you can modify the offer. However, to carry out a successful upsell campaign, you will need the support of complementary business owners. So, don’t forget to work out a mutually favourable business model.

Step 04: Prioritize reviews:

Once you have reestablished your reputation and have a steady inflow of guests, let them do the talking. Within a few months of aggressive marketing, you should have guests who’d like to share their experience. Lower your marketing spending to 80% and reserve the 20% to engage guests who’d be willing to review your hotel. You can also use the feedback and reviews shared by your guests to improve the quality of your service and create a better guest experience.

Hotel Marketing Ideas From The Expert’s Playbook:

Before rebuilding your hotel’s marketing strategy, it is important to determine the goals and revenue growth that you are expecting. This will help you design a practical approach to not just marketing but also service delivery. You can plan for new offers or bundle complementary services as a combo once you have a clear understanding of the expected hotel revenue. Use software products to manage individual tasks such as bookings, check-in, marketing campaigns, etc.

If you are cutting down costs, Hotelogix is an all-in-one property management system that manages all your operational tasks, including billing and housekeeping, in one place. Moreover, Hotelogix allows you to automate your marketing campaigns so you can get the best return on your investment.

Here are some 5 hotel marketing ideas from the experts of hotel marketing at Hotelogix:

1. Update your Hotel’s Website:

It is no surprise that before making a reservation, your potential guests are going to run a background check on your property. Your hotel’s website is often the first place your guests would go to. Hence it is important to keep your website updated. Have a website that is not just pleasing to the eye but also easy to navigate.

Here are some quick pointers to help you audit your website:

Opening hours: If you haven’t already, make sure you mention your working hours. Ideally, a hotel should be accessible 24*7. However, if you have decided to make changes due to the pandemic, let your guests know early on.

Safety updates: Hygiene and safety have been the utmost concern for travellers worldwide. It is important to have a large, clear message on your hotel’s website to let guests know that the property is safe to visit. You can build the trust of your guests by sharing pictures of routine deep cleaning of all rooms as well as conducting regular temperature checks of all employees and visitors.

2. Offer a Flexible Cancellation Policy:

To keep up with the unpredictable times, having a flexible cancellation policy will help your hotel stand out among your competitors. It is not uncommon for hotels to have a strict cancellation policy to avoid loss of revenue and occupancy. However, given the current situation, it would be a good idea to allow guests to reschedule their booking. Of course, you can restrict the validity of the policy depending on your hotel’s occupancy. Most hotel owners offer to reschedule up to 45 days. If you are planning to offer a flexible cancellation or rescheduling policy, you will need to have a PMS (property management system) to organize your bookings. Avoid miscommunication and double bookings with Hotelogix’s single integrated system.

3. Aim for Direct Bookings via Social Media:

A great way to interact first hand with your potential guests is through social media. You can stay updated with the trends in the hotel industry and know exactly what your guests are looking for. You can also strive for more direct bookings and save on commissions by targeting potential guests one-on-one. Direct bookings are a great way to reduce cancellations and optimize hotel revenue management. You can even offer discounts to build a healthy guest relation or start a referral programme. Getting your guests involved in your marketing campaigns is a great way to build a community and gain qualified leads.

4. Install a CRM System to Improve Guest Experience:

Staying in touch with your guests before check-in is necessary to ensure a superior guest experience. Being available to your guests if they need to arrange for an airport shuttle or help with directions to the hotel’s location is crucial. Remember, your guests will judge their experience with you even before they arrive at your hotel. Hotelogix’s PMS software has in-built CRM software. This software helps you prepare for additional requests that your guests may have. A CRM (customer relationship management) software acts as a medium for an unbroken flow of communication between you and your arriving guests.

5. Value your Loyal Guests:

Revenue increase in the hotel industry depends on your guests. Loyalty indicates that your guests trust and appreciate your hotel’s services. Loyal guests double as your brand ambassadors. They will organically improve your hotel’s brand awareness and build the hotel’s image in the market. Therefore, it is important to compensate your loyal members with personalized offers every once in a while. This is a great way to encourage travellers to return to your hotel.

As the end of the Covid pandemic seems to be inevitable, proactive hotel marketing ideas are making a comeback. While domestic travel across most countries has resumed, property management systems (PMS) are in demand again. To keep you ahead of the competition, we, at Hotelogix are offering a 75% Year-End Special Discount for hotel owners until the 31st of December 2020.

Grow Your Hotel's Revenue With Hotelogix