Hoteliers’ online action plan in slowing economy

Image via WikipediaWorldwide – In today’s economy, one has to be careful about how to spend their money wisely, and this is especially true in the hotel industry. Hoteliers invest their money in marketing to bring in more guests, but in a tough economy, business slows down. So how is it possible for us to thrive, despite slow business? The answer is: keep marketing, and don’t slow down. This does not mean simply market every way you know how, it means be careful in how you invest your money – what marketing methods work, and what don’t. It is more important than ever that we pay attention to our return on investment (ROI). So, stick to proven marketing methods that have a high ROI, and your worries will remain small.

Eighty-three percent of travel planning is booked online. This means that the internet has emerged as the premier distributor of hospitality. Since this is the case, it only makes sense that we work through the internet for the best possible ROI. Instead of cutting your marketing spending, look at the most effective ways to attract guests through internet-related means: online advertising and direct response initiatives as opposed to offline and brand-building methods. Plus, with web analytics tools, it is easier than ever for a hotel to track how their online marketing initiatives are performing.

Word of Mouth advertising is the best possible advertising. It is important that you monitor and measure your online reputation as determined by the websites like Facebook, YouTube, Flicker and other social sites along with travel chatter sites like TripAdvisor, IgoUgo, Hotel Chatter and many more. Once you have a monitoring and measuring method or tool, you need to implement a procedure to utilize this information to improve internal operations, build your Public Relations and integrate into your property marketing. Where possible you should interact with consumers with postings, networking and blogging. Granted your marketing spend during a slow economy has to be productive and it is difficult to determine your ROI from social media. But people do utilize these sites as part of their planning process for both business and leisure travel. You need to capitalize on good reviews and respond to offset bad review

So, as a hotelier, the majority of your Internet marketing spend should focus on internet marketing strategies that center around ROI to reach potential new customers, and this includes local online marketing as well. These campaigns should revolve around your unique selling proposition (USP). Doing so will differentiate yourself from the market – which means more attention and more guests. While you are thinking big, however, make sure that the basics are taken care of first, which includes:

• Optimization of your current website

• Strategic Linking

• Email and Search Marketing (eMarketer reports that 80% of all internet activity comes from search engines)

• Web Analytics and Performance Tracking

So, here are a few steps to get you on the right track to marketing success this year:

1. Look at the budget numbers for this year’s marketing plan. Drop any investment in marketing strategies that are unproven or not bringing in a good return on their investment. Limit your experimental investments this year, that is, stick to what you know works and will bring in the guests. Make sure that your marketing is directed towards the most influential audiences, i.e. travel planners, businesspeople, and vacationers.

2. Market your hotel wisely. Try to find marketing strategies that perform above the industry averages for your property. Make use of web analytics to track the bookings and activities of the guests coming to you online or by phone as a result of online information. Adjust your marketing based on the information from the analytics. A good analytics company will cost money, but the results can give you a serious edge.

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