Friday Freebie: Remember The 4Ps Every Day

March 31, 2017 • By

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Welcome to the Friday Freebie!

Each week we share one impactful hotel marketing tactic that you can implement immediately to drive more conversions and more revenue. 

This Week’s Freebie: Stay on top of your hotel’s success each day by reviewing your hotel’s four marketing pillars: price, product, promotion and placement (distribution).

It’s easy to forget what marketing is really all about.

With all the new hotel marketing technology, apps, social networks and fancy lingo we deal with, it’s inevitable that you will be pulled away from the big picture to focus on all the minor details.

If you don’t make an effort to clear that clutter from your mind each day, you’ll lose sight of the CORE FOUR marketing pillars that drive the success of every successful company’s marketing:

1. Price

This is a critical component of hotel marketing. Does your room rate make sense for the value of your guest experience? How do you compare to your comp set? Are you implementing the rules of hotel pricing psychology to reach guests? Are you allowing OTAs to price your hotel too cheaply?

2. Product

The most important of the 4Ps! Consider both the hotel’s physical product (rooms, meeting space, restaurant, spa, amenities, etc.), as well as the service experience. What truly differentiates your guest experience compared to your comp set? Are your hotel’s USPs still relevant to today’s travelers? What needs improvement?

3. Promotion (i.e. Advertising)

This translates to hotel advertising. Are you synchronizing your limited budget to correlate to your targeted business mix? Are you being smart about retargeting abandoned reservations? Have you invested some ad dollars into reaching audiences on social media platforms?

4. Placement

This refers to your distribution channels. Are you allocating too much inventory and relying too heavily on OTAs? Or, are you thoughtfully optimizing your own hotel website and booking engine to attract more profitable, direct bookings?

Each day commit an hour to review each of these pillars. Determine the areas that need more attention and where your team is currently succeeding. Pivot and finesse as needed. Staying on top of these four major areas will assure that you’re headed towards success each and every day.

Get more: April Fools – 8 Ways Hotel Marketers Can Avoid Looking Foolish


About Tambourine

Tambourine uses technology and creativity to increase revenue for hotels and destinations worldwide. The firm, now in its 33rd year, is located in New York City and Fort Lauderdale. Please visit: www.Tambourine.com