![]() ![]() Alternatively, first party data, such as guest surveys, reviews, and site user testing, can highlight opportunities that might otherwise be missed.Ī good portion of your digital marketing budget is going to be in fixed expenses (or investments as some say). Third party research such as the 2023 Leisure Travel Trends Study, your market’s STR report, chamber of commerce data, and more will reveal where the overall market is heading. From marketing to operations to revenue management, your SWOT analysis should evaluate all aspects of your hotel.īoth first and third party data should be examined prior to developing your hotel’s digital marketing budget. ![]() Don’t skip this step! Further, be sure to include a broad range of departments. What threats exist that might compromise your bottom line?Ĭreating a hotel SWOT analysis will provide valuable insights into your brand’s competitive position. What opportunities does your property have physically, digitally, and/or operationally? Where is your property falling short physically, digitally, and/or operationally? ![]() What makes your property stand out physically, digitally, and/or operationally? This will offer you a chance to look at your property objectively and identify areas to focus your budget (and overall marketing efforts). Other: What other campaigns are you running that you can measure, and ultimately improve by increasing or decreasing budget in 2024?ĭo you have a hotel SWOT analysis? If not, now’s the time to create one.Does your CRM employ feature AI, retargeting, and personalization strategies to improve performance? Email Marketing: While email is certainly not new, it is still one of the most effective marketing tactics.Are you successfully converting your OTA bookings to direct guests? Is your percentage of OTA bookings in line with your goals? Reducing OTA commissions can be critical to success. OTAs: At TravelBoom we like to think of the OTAs as a new business tool, not a set-and-forget way to fill empty rooms.Rather, you need to ensure your efforts here are driving meaningful engagement, traffic, (and revenue). Social Media: Try to avoid focusing on vanity metrics such as likes or follows.Organic Search: Is your website consistently increasing in rankings for targeted keywords? More importantly, is this traffic qualified and/or converting? This data will help dictate whether you need to invest more money in content creation, site optimization, or potentially an entirely new website.Paid Search: Are you achieving your ROAS goals for PPC, metasearch, local listings, etc.? Are you capitalizing on existing demand, or do you need to allocate additional funds to generate demand?.Conversion Metrics: Is your website driving bookings, leads, quotes, and/or other success events? You should be doing this on at least a monthly basis, and your annual review should be an even deeper dive into how users are engaging with your website.Website Traffic: Review your traffic to uncover potential opportunities that might lead to targeting, partnerships and more.This should include a thorough review of digital traffic, paid media campaigns, organic search efforts, traditional print, and more. The past can help guide the future – Evaluating historical data will provide meaningful insights to aid in determining future allocations. ![]()
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