Cookies on HFTP Bytes

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us give you the best possible user experience.
By using the site, you consent to the placement of these cookies. However, you can change your cookie settings at any time. Read our Privacy Notice to learn more.

I understand
commercial

Friday Freebie: Download The Hotel Power Couple

Tambourine Blog·29 June 2018
Tambourine uses technology and creativity to increase revenue for hotels and destinations worldwide. The firm, now in its 34th year, is located in New York City and Fort Lauderdale. Please visit: www.Tambourine.com
commercial

Friday Freebie: 7 Cool Google Hacks for Hotel Marketers

Tambourine Blog·22 June 2018
This week’s freebie: Stop wasting time researching on Google and wading through useless pages. Efficient hotel marketers know how to properly tweak their marketing questions to get the most targeted and relevant results.
commercial

Smart hotel marketers are going 'old school'

Tambourine Blog·19 June 2018
It’s graduation time. And as we sit on uncomfortable auditorium chairs watching our kids, nephews, nieces or grandkids beaming with eagerness for the road ahead… we can’t help think back to the good ol’ days of our own high school and college experiences.
commercial

Take this piece of hotel marketing advice from your Dad

Tambourine Blog·15 June 2018
Welcome to the Friday Freebie! Each week we share one impactful hotel marketing tactic that you can implement immediately to drive more conversions and more revenue.
commercial

Metasearch: is it right for your hotel?

Tambourine Blog·12 June 2018
While OTAs have long been a dominant source of indirect hotel bookings, metasearch sites like Kayak, Trivago, TripAdvisor, and Google have recently become much more relevant in hotel marketing and distribution channel discussions.

Why do some hotel marketers get everything they want?

Tambourine ·12 June 2018
With the hotel industry enjoying a period of record performance, posting all-time highs for occupancy, ADR and RevPAR, one of the most talked-about ways to improve performance (and delight ownership) is to reduce the cost of guest acquisition.And that begins with fully understanding a vital metric: your hotel's CLV-to-CAC ratio.But unlike many other industries that have already embraced the concept, too many hotel marketers are still unable to quantify their CLV-to-CAC formula.This can be overcome with a little effort, offering a major potential boost to the bottom line and a far stronger bargaining position when asking ownership for more marketing dollars (and a raise)! What It Means? To get started, there are some basic principles to know, beginning with terminology.CLV stands for "Customer Lifetime Value," meaning the revenue your hotel can expect to earn from each guest over the lifespan of that customer's relationship with you. CAC, meanwhile, is short for "Cost to Acquire Customer,"or your total sales and marketing spend to attract each customer and obtain the aforementioned CLV. The premise behind the CLV-to-CAC formula is to maximize that ratio as much as possible.There are multiple benefits from having a strong CLV-to-CAC ratio, including enabling hotel marketers to ask owners for more investment dollars, for example, imagine being able to tell ownership: "We spent $300,000 last year to attract 5,000 NEW guests, who represent a LIFETIME VALUE of three million dollars in revenue... in other words, for every dollar you give me, I'm giving you ten dollars back in gross revenue."So how do hoteliers calculate their CLV to CAC ratio?Here are the core steps:1. Making the CalculationsTo come up with your CLV, first consider how many times a guest typically stays at your hotel(s) over multi-year period. Then, deduce the total value of those stays. Multiply that value by the total amount of visits per guest and that is the CLV you will use in the formula.Next, to arrive at a value for CAC, simply divide the TOTAL amount your property spends on sales and marketing for each segment (ie: transient vs group vs corporate) by the total number of guests from that segment.EXAMPLE:So, if a hotel attracts 1,000 new guests this year and spends $100,000 to do it, the CAC equals $100.2. What to include in CAC?When calculating CAC for each demand segment, be sure to include salaries, expenses, technologies, advertising and any other investments made specifically to attract bookings for that specific segment. That may include, for example, a customer relationship management (CRM) system and trade show booth that are part of the CAC for your hotel's sales efforts for attracting the corporate business segment.Other costs, like Google pay-per-click (PPC) advertising, email marketing and social media fees should be attributed primarily to transient guest CAC calculations. On the other hand,your hotel's website, the salary for your director of sales and marketing (DOSM) and other "shared" costs can be distributed evenly across all segments that your property targets. 3. The Results:Using the calculations described above, divide the CLV by the CAC to arrive at the ratio.For example, if a hotel has a CLV of $5,000 per transient guest and the CAC for each transient guest equals $100, then the CLV-to-CAC ratio is 50x. In other words, for every dollar spent on sales and marketing to target that guest, the hotel will earn back $50.That is the kind of return owners love!And that is the kind of math that separates serious hotel marketers from those just focused on pretty pictures!Now compare results to your OTA costs!Once you know your own CLV-to-CAC ratio, you can compare it to the CLV-to-CAC of bookings derived from third-party online travel agencies (OTAs).You'll most likely be pleasantly surprised by what you find: Typically, OTA-driven guests are less loyal, and will have a lower CLV as a result. Also, the commissions on those bookings may be higher than the CAC you are achieving on your own.So, in the quest to drive hotel profitability even further into the stratosphere, make it a top priority today to learn your CLV-to-CAC ratio for each customer segment you target. By offering such compelling insight, the CLV-to-CAC ratio can be an incredibly powerful stat for hotel marketers to cite to owners when requesting more marketing dollars.You'll be much more likely to obtain the budget you need when your owner is assured their investment will lead to a far better payoff down the road.
commercial

Friday Freebie: Focus On, Then Fix Your Booking Failures

Tambourine Blog· 8 June 2018
Welcome to the Friday Freebie! Each week we share one impactful hotel marketing tactic that you can implement immediately to drive more conversions and more revenue.
commercial

Which Direct Booking Incentives Actually Work?

Tambourine Blog·29 May 2018
As hotel and resort owners strive to improve margins by reducing the cost of guest acquisition, hotel marketers are increasingly focused on driving direct hotel bookings, with the major brands spending millions annually to evangelize the benefits.
commercial

Friday Freebie: Amp Your Hotel's Authenticity with Hyper-Local Emphasis

Tambourine Blog·25 May 2018
Each week we share one impactful hotel marketing tactic that you can implement immediately to drive more conversions and more revenue.
commercial

The rising cost of hotel PPC...and what to do about it

Tambourine Blog·22 May 2018
As owners and asset managers struggle to offset the rising costs of debt service, brand fees, energy, staff and insurances, marketing costs have also come under intense scrutiny. For many hoteliers, reducing the cost of guest acquisition is the only way forward to improving margins.
commercial

Friday Freebie: Follow These Digital Breadcrumbs To Find Out What Guests Really Want

Tambourine Blog·18 May 2018
You can easily discover what travelers are seeking in a hotel experience by listening and monitoring the right places. The post Friday Freebie: Follow These Digital Breadcrumbs To Find Out What Guests Really Want appeared first on Tambourine.
commercial

What's Hot (and What's Not) in Hotel Marketing Right Now?

Tambourine Blog·16 May 2018
We all know hotel marketing moves at a rapid pace. Tactics that crushed it last year may no longer even be relevant today. So, what’s worth exploring and expanding… and what needs to be jettisoned?
commercial

Friday Freebie: Don't Miss This Channel When Monitoring Your Hotel Comp Set

Tambourine Blog·11 May 2018
Hotels are forever locked in a battle for bookings. Savvy hoteliers are always aware what their comp set is up to. Besides monitoring rate, they keep one eye focused on what competing hotels are doing to draw more direct bookings and group business. One of the easiest ways to watch your competition is to sign up for their emails and follow their social media accounts.
commercial

Why are hoteliers asking CRS vendors so many tough questions?

Tambourine Blog· 8 May 2018
Hotel marketing and revenue management execs are pushing their tech vendors to do more… Your central reservation system (CRS) is one of the most important assets in your hotel’s overall marketing arsenal. (Yes, marketing… because pricing is one of the four “Ps” of marketing)
commercial

Friday Freebie: You have one chance to make a good impression

Tambourine Blog· 4 May 2018
Mom was right. Our moms are always dishing out sage advice. And, it turns out their quips hold a lot of hotel marketing wisdom. In honor of Mother’s Day and all our wonderful mothers out there, we’re celebrating one of our favorite mom quotes: “You have one chance to make a good impression.”

Are comments about your hotel falling on deaf ears?

Tambourine Blog· 1 May 2018
Hotels take reputation management seriously when it comes to guest feedback on TripAdvisor, but often underappreciate the need to closely monitor other social media channels. This is a lost opportunity to gain short term insight and long-term goodwill. Here are 3 reasons hotels need to prioritize social listening.
commercial

Friday Freebie: How to Uncover Guests' Hidden Instagram Photos

Tambourine Blog·27 April 2018
Your guests are creating FREE ultra-creative marketing content almost every day. Here’s how to uncover that treasure trove of evangelism! Right now as you read this, a guest is documenting their stay at your property and posting it on Instagram for all their followers to see.
commercial

Solving the latest hotel website curveball from Google

Tambourine Blog·20 April 2018
In hopes of fostering a safer internet, Google has moved toward new security standards for its Chrome browser, which requires a significant update to hotel websites in order to achieve compliance. Under the new specifications, Google now requires all websites that collect any type of personal data (i.e. forms, email addresses, credit card info, etc.) to migrate websites to HTTPS and upgrade their security technology in the form of “SSL Certificates,” or suffer the consequences.
commercial

Friday Freebie: Solving the latest hotel website curveball from Google

Tambourine Blog·20 April 2018
Google’s new security standards could threaten your hotel’s website traffic. Here’s how to solve the problem: In hopes of fostering a safer internet, Google has moved toward new security standards for its Chrome browser, which requires a significant update to hotel websites in order to achieve compliance.

Bad Habits: 5 things hotel marketers should stop right now

Tambourine Blog·17 April 2018
Usually, we offer insight on the hotel marketing tactics, tools and strategies you should adopt to drive more revenue to your hotel: add chat to your hotel website. Focus on this webpage as your SEO secret weapon. Try these tips on your mobile website, etc…
commercial

Friday Freebie: Rate parity matters... but so does Promo Parity

Tambourine Blog·13 April 2018
Les Roches students get to enjoy a range of exciting and eclectic activities, clubs and societies. One such example is the Les Roches Wine Club, where keen oenophiles (that’s wine lovers, by the way) gather to discuss, taste and learn about some of the world’s finest vintages. However, Les Roches’ relationship with wine goes deeper. For the past three years, we have organised the World of Wines exhibition, otherwise known as the WOWExpo2018. Run by students and held at Les Roches’ Bluche campus, the one-day event showcases the quality and diversity of Swiss wines, as well as unusual vino from around the world. The third instalment of the WOWExpo takes place on Saturday 21 April and will welcome six different wine-producing regions and their best producers to present. But when it comes to wine tasting, what are the basics? How do you tell a good wine from a bad one? Our blog has all the answers.

The 10 Daily Habits of Highly Effective Hotel Marketers

Tambourine Blog·10 April 2018
Hotel marketing success requires daily discipline. Can we all agree that the cumulative effects of small daily habits—both good and bad—add up to meaningful results over time? Brush your teeth every day and you’ll avoid cavities. Eat chocolate pie every day, you’ll probably gain weight…
commercial

Friday Freebie: Use Content To Become A Meetings Magnet

Tambourine Blog· 6 April 2018
CVBs and DMOs aren’t the only ones who can produce destination content. Hotels would be smart to create their own online destination pieces to drive traffic to their website. While many properties already create content touting leisure travel, very few hotels craft group-oriented content to cultivate traffic and awareness for group leads.

The Smart GM's Checklist for Hotel Marketing

Tambourine · 5 April 2018
The cost of guest acquisition is on everyone's mind these days, which means GMs are feeling pressure from ownership, asset managers and their hotel management companies to maximize the ROI from their marketing investments.GMs have responded in two positive ways:GMs are now holding their marketing teams accountable for contributing - in a tangible, measurable way - to revenue goals and generating leads.GMs are also championing their marketing team's efforts and investing more time than ever before in improving their understanding of the complex challenges facing their hotel marketing teamTo support this effort, here's our list of 10 significant hotel marketing elements that every general manager should be familiar with:1) The Four Marketing Pillars: Price, Product, Promotion and PlacementA smart, easy place for every GM to start is understanding the four traditional pillars of marketing that directly drive the success of your hotel:Product The most important of the four, classic marketing "Ps": How does your product differentiate you? Consider both the hotel's physical product (rooms, restaurant, meeting space, amenities, spa, etc.), as well as the service experience. GMs need to constantly work with their marketing team to determine if their product or service experience need improvement (and then ask ownership for the funds)!Promotion (i.e. Advertising and traffic generation)More than anything else, the GM MUST ensure that the marketing team's promotional expenses and investments are synchronized with the hotel's targeted business mixPlacement (Distribution channels)GMs need to know where the business is expected to come from and how the property's rates and inventory are positioned there? How much group vs transient do you expect and how much is actually being generated? How much inventory are you allocating to OTAs? Is your team relying too heavily on OTAs to reach revenue goals? Or, are you thoughtfully optimizing your own hotel website and booking engine to attract more profitable, direct bookings?PriceYour revenue management team controls pricing, but price is an unavoidably critical element of marketing. GMs need to have consistent, accurate visibility to ADR vs the compset. GMs should also strongly encourage close cooperation between their marketing and revenue management teams. 2) What your marketing team needs from YOU to succeed! Your marketing team can't survive without the GM championing their efforts and giving them the right amount of funds, tools and resources to succeed. The key is to simply, and constantly, ask them what they require from you to achieve their goals, then make it happen. 3) The quality of your product We want to underscore the importance of your PRODUCT in the marketing mix.No amount of clever advertising or promotion can overcome an inadequate product or me-too service experience. Keep in mind this compelling quote by Robert Stephens, founder of Geek Squad, "Advertising is the tax you pay for an unremarkable product."There are far too many hotels that continue to sink millions of marketing dollars to over-compensate for or to cover up an aging, lackluster, or grungy hotel product. The less you pay attention to improving your service and your hotel product, the higher your marketing and advertising expenses will be to make up for it.GMs can best serve their marketing teams by driving product improvement first!By refusing to cut corners, investing in quality from the front desk to the back of the house, and by presenting the best guest experience that your staff can deliver, guest sentiment will go up, your number of repeat guests will go up, profits will go up and your marketing cost per booking will go down.4) How marketing investments correlate to projectionsSmart GMs know exactly how much revenue they expect from each segment of the hotel's business. And they expect their marketing teams to correlate their investments for leisure/transient, group, corporate and F&B.Generic, aimless and "pretty picture" marketing won't cut it. Every marketing activity should be done with the intention of achieving the segmented revenue goals of the overall business mix.Check back in throughout the year to see how your marketing team is synchronizing their allocated budget and resources to align with revenue projections.5) Your property's storyConsistently and creatively telling a meaningful, truthful story is what truly attracts travelers. However, many hoteliers don't know what their story is, much less how to convey it. Correctly telling your story means knowing your audience, being honest about your assets and getting all stakeholders in agreement about your property's unique identity so that you can convey it poignantly across all your marketing channels.Travelers are no longer drawn to sterile facts, puffy promises of a wonderful stay or mentions of your recent industry awards. They want to be a part of something that intrigues them, connects with them and gives them something to brag about.GMs should be vigilant about their marketing team's ability to propagate a unique story across all channels.6) Actual costs of OTAs vs marketing expenses Every good hotel marketer must know the actual costs and expenses of each channel. OTAs are particularly tricky to track, as their commissions are often hidden, yet are one of the costliest expenses to hit your bottom line (OTAs usually pay a net rate back to the hotel, so the actual cost will never show up in your financials). Lean on your marketing and revenue team to track the real expense of OTA bookings and compare that to the tangible expenses that power more direct booking channels.7) The ratio of direct vs 3rd party revenueThis goes in tandem with #6. Many hotels are still relying disproportionately on higher cost channels for business. With rates and occupancy at an all-time high, one of the primary areas GMs can affect is COST of acquisition!And owners are watching this closely.GMs should check the pulse on this each month to compare how many bookings came directly through your hotel call center and website versus costly 3rd parties.8) How to augment the brand's marketing programBrand affiliation offers many benefits... But custom marketing targeted to your specific audiences is not one of them.Branded/flagged properties need to augment their brand's core program with timely campaigns and custom direct "vanity" websites that help fill periods of need. Instead of solely relying on the brand's standard marketing program, which is duplicated for every other sister hotel in the region. Your marketing team should be proactively differentiating your property, customizing your website, and boosting your search engine optimization (SEO) and social media efforts.9) Marketing KPIsGet familiar with the KPIs your marketing team is responsible for, while ensuring they are not spending too much time tracking vanity metrics. Metrics should offer insight that GMs and the property owners consider high priority (like how much your marketing team is actually contributing to the hotel's revenue targets). Hotel marketers should be able to share vital KPIs like direct revenue ratio, leads generated for the sales team and marketing cost per booking (MCPB).10) Why you lose business to the compsetWinning is easy.Losing requires painful introspection.A majority of hotel sales and marketing teams fail to ponder why people chose another property. Whenever your team loses a major group deal or market share, the GM needs to ask the team: Why did we not win this business?What went wrong... How could we have done better?This simple follow-up could dramatically empower, alter, and inform your future sales efforts.Also, your team should never lose track of what your comp set is doing. In fact, there are so many tactics and tools at your disposal, that a competitor's success should never come as a surprise. Keeping tabs on your compset will give you the insight to finesse, and possibly pivot, your own marketing campaigns.

5 Things Modern Hotel Marketers Can Learn From Vintage Travel Posters

Tambourine Blog· 4 April 2018
In the Golden Age of travel in the early part of the 20th century, there were no online banner ads. Nor guest analytics, marketing technology, mobile apps, retargeting campaigns, email offers, Insta-influencers, or search engines. Instead, airlines, CVBs, resorts and railway companies relied on one of the most powerful mediums of their time – the travel poster.
commercial

Friday Freebie: Want More Business/Corporate Transient? Try this.

Tambourine Blog·30 March 2018
Start applying basic digital marketing tactics to enhance traction with the corporate/business transient segment. 2018 is going to be a hot year for corporate travel.` The Global Business Travel Association and Carlson Wagonlit Travel 2018 forecasts predict corporate travel spending will increase by 6.1 percent this year, up from the expected 2017 increase of 5.1 percent. However, despite the growth, don’t expect corporate travelers to be drawn to your hotel on their own. You’ll need to sharpen your plan to attract their business. Here are FOUR easy ways to grow your hotel’s business travel bookings in 2018:

Newletter

Thank you for subscribing. Your email address has been added to our mailing list.
Close
To subscribe to the GDPR Bytes Newsletter please enter your contact details below.
An error occured, please check your input and try again.
I do want to receive the GDPR Bytes email newsletter.
By submitting this form, you have read and agreed to the Privacy Notice of HFTP.
You may unsubscribe to these emails at any time.
CancelSubscribe