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:
Hotel marketers are drowning in metrics. But very few actually make a tangible difference to your business (and your career).
Page views, time on site, sentiment scores, Instagram followers, open rates, clicks… on and on the list of fluffy hotel marketing metrics goes.
No wonder hotel marketers are often distracted and overwhelmed – there’s so much to track and analyze! So it’s vital to remember that many of these metrics are meaningless to achieving what actually matters – conversions!
While boosting traffic to your hotel website is almost always a good thing, an increase in traffic can create a distorted sense of success and mask a deeper, more dangerous issue: LOW CONVERSION RATE.
Flash sales, media/PR events, seasonal/regional events, and many other things can cause transient spikes in traffic that fail to deliver a long-term, sustainable impact on your business.
In our opinion, after working with thousands of sophisticated hoteliers over the last 34 years, there are a few key metrics that every hotel marketer SHOULD obsess over, including:
- MCPB (marketing cost per booking): tracks actual production vs the cost of each S&M channel
- Revenue variance from target: this metric reflects your actual results vs the revenue goals (by segment) memorialized in your annual S&M Plan.
- DRR (direct revenue ratio): measures % of online revenue coming direct vs expensive third-party sources like OTAs. If you’re not getting 40%+ direct, you have work to do!
Tambourine uses technology and creativity to increase revenue for hotels and destinations worldwide. The firm, now in its 34th year, is located in New York City and Fort Lauderdale.
Please visit: www.Tambourine.com