Competing with Million Dollar Marketing Budgets
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Marketing teams across the industry are being asked the same question- how do we keep bookings direct? Both independent and branded properties are faced with the challenge of changing the consumer booking behavior while competing with companies who have marketing budgets in the billions
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Competing with Million Dollar Marketing Budgets
- 1. Competing with Million Dollar Marketing Budgets
- 2. In 2014, Priceline Group increased its advertising spending to hit $2.6 billion while Expedia Inc.’s advertising jumped to $1.6 billion1.
- 3. 15-30% Average commission OTA’s now charge hotels2.
- 4. Branded Hotels Fight Back Hilton: Stop Clicking Around Marriott: It Pays to Book Direct
- 5. OTAs will represent 58% of US independent properties’ online volume this year, compared to a 48% share for chains3 Independent Hotels Branded Hotels 58% 48%
- 6. 3 Ways Independent Hotels Can Maximize Budget Finding A Niche Using Segmentation Creating A Marketing Mix
- 7. 1. Find Your Niche What Makes Independent Hotels Unique? Their Independence Market their uniqueness. Travelers now expect for their hotel to have as much character as their vacation. Hotels Should
- 8. 80 MillionBookings through Airbnb in 20154 The rise of Airbnb has validated the consumer’s want for more unique and personalized experience.
- 9. 2. Use Segmentation Independent hotels know their clientele better than any brand. Use data + segmentation to produce content directly focused on each segment of guest. Hotels Should
- 10. 70%Of consumers now expect personalization5 From the booking process to in-stay and post-stay marketing campaigns, marketers at the independent level are able to better communicate their guest’s needs and wants.
- 11. Implement A Marketing Mix Over the last three years, the hospitality industry has seen a boom in the amount of technology providers focused on hotels Create a mix of tools and platforms to create the most effective digital experience for their guests. Hotels Should
- 12. 62%# of Millennials who say online content drives loyalty6 Determining the guest behavior will tell hotel marketers which tools to implement for a strategy focused on their niche and personalizing the experience for guests.
- 13. Learn More