Hospitality Industry
-
Steal this Hotel Marketing Content Framework
Everyone knows how important it is to have the right content for the right guest at the right time. However, most hotels struggle with content and advertising strategies. I hope this helps hotels be a little more strategic about what they put out there. I should add that this should be a source of inspiration. Make it your own by customizing it.What are your content difficulties for social media, advertising, your website, and your blog?
-
What Characteristics do the Best Social Media Managers Share?
Social media is a very important way to get the brand's message out, connect with guests, and make sales. My team was in charge of setting the strategy and guidelines and hiring social media talent at the property level. Here's what the great ones do.
-
Digital Marketing Managers are from Venus, and Revenue Managers from Mars
Here is a cheat sheet for digital marketing managers. If you want to know what your revenue manager means, this is it. Rate hurdle Minimum order value Group ceiling Maximum order quantity (specific product) Average daily rate (ADR) Average order value Average length of stay (ALOS) Average quantity Segments Sell channel categories Revenue per available room (RevPAR) Average revenue (per store) Total revenue per available room (TrevPAR) Total revenue per (available store) Gross operating profit per available room (GOP PAR) Gross profit per (available store) Net revenue per available room (NRevPAR) Net profit per (available store) Revenue generation index (RGI) Market (click) share Market penetration index (MPI) Market share ranking …
-
Revenue Managers are from Mars, and Digital Marketing Managers from Venus
Here is a cheat sheet for revenue managers. This is what your digital marketing team or agency means when they talk. Prospecting π° Demand generationImpressions π° InfluencingWebsite visits π° Direct guests (potential)Engagement π° Tentative (guests)Bounce rate π° WashBooking funnel π° Sales process (online)Conversion rate π° Pricing effectivenessConversion window π° Lead timeCPA (Cost per acquisition) π° Distribution costGeotargeting π° POS (Point of Sale)One way to learn something new is to find a way to link it to something you already know.What would you like to add to this list?
-
Five hotel jobs (mostly commercial) that will disappear in the next five years
β (Director/Manager) Sales/Sales & MarketingWhy: Because the majority of business has moved online. Traditional DOS/Ms can only contribute 10-20% of (offline) business.Indicators: Rather than DOS/Ms, more hotels are hiring well-rounded commercial leaders.The way forward is to expand into the dynamic rate world, managing OTAs and bed banks while also bringing revenue management skills to the table. Alternately, specialize in MICE, corporate, series, and group business.β Revenue ManagementWhy: Revenue management systems are becoming more sophisticated and affordable. AI will even be able to address shocks caused by rapid trends or strategy changes.Indicators: Global brands no longer employ this position at the property level. Clusters are also being used by more properties.…
-
The Growing Disparity between Guest experiences at Home and in Hotels
Do I need to provide a statistic to show how digitalization accelerated during and after the pandemic? Consider your own smartphone usage and the number of tasks you completed on it before and after the pandemic.So this is what your guests have become accustomed to.ππΌ They can order food from the comfort of their own homes by using an app.ππΌ Users can use shopping apps to order almost any product and have it delivered to their home.ππΌ They have instant access to any type of entertainment.ππΌ The majority of apps learn about the user and provide personalized recommendations.ππΌ Their friends, as well as Google, Alexa, and Siri, respond immediately to…
-
Guest Messaging is the New Review Response
Although messaging is common in the vacation rental industry, hotels do not take it as seriously. There are hotels that make sure to respond to all reviews, but many questions from various platforms go unanswered. This is a huge missed opportunity. You receive messages from: Social media platforms such as Facebook and Instagram Google Maps/ Business Profile Line, Whatsapp, WeChat, and other instant messaging apps OTA extranets Your website or app All of these will assist you in: Solving guest doubts Generate leads Upsell Cross sell Reduce the number of cancellations Convert them to direct customers Fine-tune the content on your website, OTAs and booking engine I've already…
-
What distinguishes top revenue managers?
Revenue management is an important part of a larger commercial strategy that I helped to manage. I've interviewed and trained dozens of revenue executives in digital and CRM strategies. More than half of the distribution/e-commerce managers I hired are now in senior revenue positions across the region. Here is what the best and brightest have in common.They are aware that it is 20% numbers and 80% people. They dedicate more time to training, lobbying, persuading, and learning from various stakeholders.They know that the revenue management system will do most of the hard work, but the systems may not handle major shifts in strategies and trends. The system must be constantly…
-
Rate reduction is not always a bad idea. Please hear me out.
It's fashionable to say, "Once you dump your rates, it'll take months or years to get them back up." Senior executives don't want hotels to play the volume game, and for many owners, a high rate level is a source of pride. Whatever the reasons for this attitude, I've seen it play out in ugly ways at hotels.They artificially raise online prices while selling super low rates to offline agents and groups. I've also been asked about ways to secretly discount OTAs without affecting public rates. Even properties under global chains are not immune to this.1οΈβ£ I've seen too many hotels keep their prices high, especially in the most visible…
-
Five simple ways to boost your hotel’s OTA revenue
Not ranking, but conversion rate - you don't have to be on page one. Improve your conversion rate regardless of which page you are on. Leverage geographic strengths - for example, Booking excels in Europe and the Middle East, whereas Agoda excels in Asia. Expedia is best positioned to bring in business from the United States. Take advantage of this. Room types by channel - for example, Booking outperforms Agoda in driving higher room category bookings. Expedia falls somewhere in the middle. Make up for the cancellation rate - for example, Booking has the highest cancellation rate of all. More than half of all bookings are canceled. Try to get…