Thrive in an Economic Downturn? It Can be Done
It is safe to say that in every industry, executives are planning and strategizing how to maintain success and survive during this this economic downturn. Contrary to what many may believe, in this tough economic climate, there are hotels in the industry that are actually thriving and profiting as they were during this same time last year. How are they able to do this?
In a recent article in Hotel News Resource focused on how sales departments can thrive during this economic climate, we thought the insight was beneficial on how to do things differently. During a time when most companies are preparing to scale back on sales and marketing departments this is not the time to do it, the best thing for companies to do is actually the opposite. Strategies should be developed to reflect current economic realities in the market.
What are some strategies that these successful hotels are implementing during these times?
First, increase sales efforts, in the past sales may have not been as necessary due to business and leisure travellers aggressively pursuing the property, however now sales is essential to reach out to potential customers.
Think of ways to 'sell into the recession.' Properties can do this by actively targeting new prospects that seem to be prospering in this environment. Hotels can also go through their existing database to choose current/past accounts that are sustaining during this tough time.
Finally, the internet. Attack the internet as a means to reach out to current and future business prospects. Pay per click advertising is one of the best ways to position your hotel at the top of a search. However, monitor the online efforts to determine where the benefits are coming from.
We, at The Refinishing Touch, believe during this economic climate businesses must truly ramp up efforts and do things non-traditionally to succeed in 2009. Executing targeted campaigns to generate awareness while also looking at areas to save is critical.
In a recent article in Hotel News Resource focused on how sales departments can thrive during this economic climate, we thought the insight was beneficial on how to do things differently. During a time when most companies are preparing to scale back on sales and marketing departments this is not the time to do it, the best thing for companies to do is actually the opposite. Strategies should be developed to reflect current economic realities in the market.
What are some strategies that these successful hotels are implementing during these times?
First, increase sales efforts, in the past sales may have not been as necessary due to business and leisure travellers aggressively pursuing the property, however now sales is essential to reach out to potential customers.
Think of ways to 'sell into the recession.' Properties can do this by actively targeting new prospects that seem to be prospering in this environment. Hotels can also go through their existing database to choose current/past accounts that are sustaining during this tough time.
Finally, the internet. Attack the internet as a means to reach out to current and future business prospects. Pay per click advertising is one of the best ways to position your hotel at the top of a search. However, monitor the online efforts to determine where the benefits are coming from.
We, at The Refinishing Touch, believe during this economic climate businesses must truly ramp up efforts and do things non-traditionally to succeed in 2009. Executing targeted campaigns to generate awareness while also looking at areas to save is critical.
Labels: 2009, economic downturn, hotel, pay per click, sales efforts, saving money, Strategizing, The Refinishing Touch, thrive
posted by TRT Blog on
Friday, December 26, 2008
at
9:24 AM
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