Marketing is very important in a business. You need to implement a strategic marketing plan to establish your brand in the market. In marketing a hotel business, you have to look for your edge. You are not the only hotel in the city or the country. You need to outshine the competition. There is a wide range of marketing strategies that you can do. But before implementing the strategy itself, these are the basic things that will guide you in drafting a marketing plan:
Analyze the SWOT
Normally, you use the SWOT analysis for your business. It is also important that you analyze the SWOT of your competition. Evaluate their strengths and weaknesses as a player in the hotel industry. Then, identify the opportunities and threats surrounding them. These are external factors that can contribute to the growth of their business.
Study the 4Ps
After using the SWOT analysis, focus on the 4Ps – Product, Price, Place, and Promotion. This is important in formulating your marketing mix. In the product, focus on the amenities, facilities, and technology of your hotel. The price should discuss the rates, discounts, and promos. The place refers to the channels of your marketing. Lastly, the promotion part should identify the best marketing strategy.
Set realistic goals
Always remember to set a goal for your business and your marketing strategy. Basically, the big goal is to grow your business and attract customers to go to your hotel. On the other hand, it is important to set realistic goals for your marketing strategy. For example, you aim to increase the booking rate up to 35% after performing social media marketing.
Research the latest trends
Trends come and go. The market’s likes and consumption always change every day. It is important that you keep up with these changes. Research the latest trends in the market, among your target audience, and among the hotel key players. The latest trends will be helpful in creating your marketing strategy. The goal is to make your hotel relevant today and the coming years.
Creating a marketing plan is complex. The things you read above are just the basics. Thorough research and planning is a must for implementing your marketing strategy.