March 22, 2021 • 11 mins
When things start returning to normal, do you want customers knocking down your door to book? I’m going to share a proven method to improve your chances.
As a hospitality property owner or manager, you have to keep coming come up with imaginative ways to entice new guests, but as you know, this type of marketing can be expensive.
It is less expensive to market to your existing guests than to find new ones.
Getting a new customer is six to seven times more expensive than maintaining a current guest, but this business model isn’t sustainable forever.
Your business can’t grow if you don’t expand your customer base. At some point, you’ll need to run marketing campaigns to attract new customers.
This is why you need a customer acquisition strategy that won’t deplete your marketing budget.
A customer referral program can do this. You leverage your existing guests to bring in new business.
What are the most significant factors of hospitality property revenue?
According to studies, retention and acquisition are first and second on the list.
By merging both of these factors into one marketing campaign can be very beneficial for your property.
If you can properly employ a customer referral program into your marketing strategy, you’ll get new customers without a lot of extra work. You set up the program and the rest will take care of itself.
Don’t get me wrong, it will take some thought.
The secret here is coming up with the right referral program that gets your current guests excited enough to participate.
Whether you’re creating your first guest referral program or trying to improve the one you currently have in place, continue reading watching listening and I will share ideas in this episode that will help you create a referral program that drives bookings…
⇒ TO READ OR LISTEN TO THIS EPISODE ON KEYSTONE HOSPITALITY PROPERTY DEVELOPMENT:
https://keystonehpd.com/ how-to-use-customer-referral-programs-boost-bookings-ep-235
Get Your INNsider Tips
http://keystonehospitalitydevelopment.com/Sign-up-for-INNsider-Tips
Join one of your private groups
https://keystonehospitalitydevelopment.com/private-groups
Say hi on social
Facebook: https://www.facebook.com/KeystoneHDC
Twitter: https://twitter.com/KeystoneHDC
LinkedIn: https://www.linkedin.com/company/keystone-hospitality-development
Listen to The Hospitality Property School PODCAST here
https://keystonehospitalitydevelopment.com/itunes-podcast
https://www.spreaker.com/keystonehdc
YouTube
https://youtu.be/-yAnb8OKbdU
A Division of Keystone Hospitality Property Development
As a hospitality property owner or manager, you have to keep coming come up with imaginative ways to entice new guests, but as you know, this type of marketing can be expensive.
It is less expensive to market to your existing guests than to find new ones.
Getting a new customer is six to seven times more expensive than maintaining a current guest, but this business model isn’t sustainable forever.
Your business can’t grow if you don’t expand your customer base. At some point, you’ll need to run marketing campaigns to attract new customers.
This is why you need a customer acquisition strategy that won’t deplete your marketing budget.
A customer referral program can do this. You leverage your existing guests to bring in new business.
What are the most significant factors of hospitality property revenue?
According to studies, retention and acquisition are first and second on the list.
By merging both of these factors into one marketing campaign can be very beneficial for your property.
If you can properly employ a customer referral program into your marketing strategy, you’ll get new customers without a lot of extra work. You set up the program and the rest will take care of itself.
Don’t get me wrong, it will take some thought.
The secret here is coming up with the right referral program that gets your current guests excited enough to participate.
Whether you’re creating your first guest referral program or trying to improve the one you currently have in place, continue reading watching listening and I will share ideas in this episode that will help you create a referral program that drives bookings…
⇒ TO READ OR LISTEN TO THIS EPISODE ON KEYSTONE HOSPITALITY PROPERTY DEVELOPMENT:
https://keystonehpd.com/ how-to-use-customer-referral-programs-boost-bookings-ep-235
Get Your INNsider Tips
http://keystonehospitalitydevelopment.com/Sign-up-for-INNsider-Tips
Join one of your private groups
https://keystonehospitalitydevelopment.com/private-groups
Say hi on social
Facebook: https://www.facebook.com/KeystoneHDC
Twitter: https://twitter.com/KeystoneHDC
LinkedIn: https://www.linkedin.com/company/keystone-hospitality-development
Listen to The Hospitality Property School PODCAST here
https://keystonehospitalitydevelopment.com/itunes-podcast
https://www.spreaker.com/keystonehdc
YouTube
https://youtu.be/-yAnb8OKbdU
A Division of Keystone Hospitality Property Development
Mark as Played
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Death, Sex & Money
Anna Sale explores the big questions and hard choices that are often left out of polite conversation.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.