Welcome to INNsider Tips.

In today’s INNsider Tip, I will talk about The Point of a Marketing Strategy.

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Post COVID-19 Action Plan

 

 

Have you seen the Post COVID-19 Action Plan for hospitality properties?

If not, you need to check it out. You can do that by visiting

KeystoneHPD.com/PostCovid19ActionPlan

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What is the point of a marketing strategy? 

The point of a marketing strategy is to generate business. Without a marketing strategy, you’ll wander aimlessly. 

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Think of it this way. 

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You’re in a new city and you have to find a specific address. You do not have GPS or even a map. Yes, you might eventually find your address but you will probably waste a lot of time and effort on the way. 

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Another way to look at it is to think of the last time you bought a bookshelf from Ikea or the updated financial program for your computer.   

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Did they come with step-by-step instructions?   

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Think of your marketing strategy as step-by-step instructions for your company’s success.  

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A great marketing strategy is laid out to the lowest common denominator.

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Like all your other policies and procedures in your operations manual, your marketing strategy has to be an easy-to-understand process, with the platforms (where to market), dates and costs listed. 

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You or your accountant do not keep all your business’s facts and figures in your heads.

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They should be in financial reports for ongoing reviewing and monitoring. For your business to work effectively, you have to know the numbers.

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There is no difference in your marketing strategy.   

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You have to have a written document laying out your game plan.   

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Imagine the mess if you or someone else who was responsible for your marketing, for some reason had to give up that responsibility. If a new person took over and did not have the plan, your plan, they would have to start from scratch.

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A huge waste of time and money. 

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A marketing strategy should be designed yearly but that could be difficult if you’re in the middle of a day-to-day hospitality property operation.

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To do your marketing strategy justice, I recommend you step away from your business.

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If your organizational structure is in place and running properly, and this will not be a problem. Get away from your smartphone, your front desk and make time to think of the big picture. 

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Brainstorm with your sales team or at least a trusted employee or partner. 

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After you’ve done these for a few years, designing your marketing strategy actually becomes reviewing your marketing strategy; enhancing the platforms that are working, deleting the ones that are not, and researching the new exciting trends coming down the road. 

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That is it for today’s INNsider Tip.

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That’s today’s INNsider tips.

Until next time, have a fun day.

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A Division of Keystone Hospitality Property Development