Trash The 2002 Marketing Plan - and just start over

Written by Carol Verret, Consulting and Training


Nothing can approximaterepparttar loss and sense of grief that we feel forrepparttar 121622 victims ofrepparttar 121623 World Trade Center andrepparttar 121624 Pentagon Tragedies. However,repparttar 121625 economic aftermath is just beginning to take shape and it is ugly. Now,repparttar 121626 most patriotic thing that we can do for our country and ourselves is to get back to business and try to stabilize this economy.

My advice to all of you inrepparttar 121627 hospitality industry is to TRASHrepparttar 121628 2002 MARKETING PLAN - and just start over. Most of you have just finished or are inrepparttar 121629 process of completingrepparttar 121630 marketing and business plan for 2002. 2001 has been difficult for an industry that was posting double-digit gains in revenue forrepparttar 121631 better part ofrepparttar 121632 last decade. According to PKFrepparttar 121633 average US hotel will suffer a 5.6% decline in operating profits in 2001 compared with a 10% increase in profits in 2000. That was written prior to September 11, 2001.

Many hotels and hotel management companies are ill equipped to deal with this sudden change of events. Demand has been so strong forrepparttar 121634 last ten years, we have focused on managing yield rather than generating demand. Demand has not just slowed down; in many market segments, it has come to a screeching halt. Most impacted are those convention and meeting hotels with long term bookings that are suddenly cancelled until further notice. Corporate travel, even ifrepparttar 121635 fear of flying did not exist, will be impacted byrepparttar 121636 airline's curtailment of 20% of their average schedules. How deeply and for how long leisure travel will be impacted is anyone's guess. Our travel and business life as we have come to know it has come to an end, at least forrepparttar 121637 near future.

Trash The Marketing Plan and Start Over - fromrepparttar 121638 beginning. Competitive Analysis - Everyone is nowrepparttar 121639 competition. Fromrepparttar 121640 limited service franchise downrepparttar 121641 street torepparttar 121642 luxury hotel atrepparttar 121643 other end ofrepparttar 121644 street. Don't hold on to a rate structure that has you positioned in your 'market/product segment.' It is war out there. The client doesn't care about your rate position in your market segment - they care about value and service for their scarce travel dollars. Do what it takes to retain your current accounts and steal new ones.

Value Add - If your top accounts are leaving you forrepparttar 121645 limited service hotel downrepparttar 121646 street, drop your rate and build in breakfast. If you have a food and beverage outlet, throw in a coupon for a free beverage. Offer an incentive to userepparttar 121647 restaurant for meals other than breakfast. Will it reduce your overall revenues -- maybe. If your clients leave you forrepparttar 121648 amenities that your competition includes inrepparttar 121649 rate, your revenue will most certainly be reduced even further. Think cash flow versus NOP.

Market Segment Analysis - Reduce your projections by a minimum of 20% acrossrepparttar 121650 board forrepparttar 121651 first six months ofrepparttar 121652 year (and that is probably optimistic). Target those with which you can realistically have an impact and solicit like crazy. Some of those include government, drive-in markets like AARP and AAA. Develop packages for those guests that may now arrive by rail. Develop local 'vacation' packages for those in your area and within driving proximity that won't be flying this year. Remember, SMERFs and Associations have members, not stockholders, and may be inclined to continue their activities at a reduced budget closer to home. Go after those small accounts you couldn't be bothered with last year -repparttar 121653 last economic recovery was built on small businesses.

A Marketing Formula That Works

Written by Joe Gracia


Marketing is all about helping people get what they want, and you use marketing vehicles -- ads, flyers, sales letters, telemarketing, face-to-face sales presentations, etc. -- to let your prospects and customers know that they can get what they want . . . from you.

With that concept as a foundation, here is a simple formula to help you create powerful and effective marketing vehicles for your business.

1. HEADLINE: TELL THEM THEY CAN GET WHAT THEY WANT

People are extremely busy and their lives are hectic. When they look through their mail, or look through a newspaper, or listen to a telemarketer or sales presentation, they are looking and listening for only one thing -- 'What do you have for me?'

If they don't see or hear 'what's in it for them' within 15 seconds, they will respond immediately with, 'Sorry, not interested!'

They are not going to dig through your sales letter, or your ad, or your verbal presentation to find out if you have anything of interest for them. If you don't tell them immediately and upfront what you have for them, you will have lost them -- in seconds.

If you are creating an ad, tell them in your headline atrepparttar top ofrepparttar 121621 ad. If you are writing a sales letter, put it in your headline atrepparttar 121622 top of your letter. Yes, sales letters should have a headline just like an ad.

If you are talking to them in-person or onrepparttar 121623 phone, tell them upfront what you have for them. You see, even a face-to-face or phone contact should have a headline too.

It's vital to ensure that what you have for them, and what they want are bothrepparttar 121624 same. If what you have for them in your headline isn't what they want, then you've lost before you've begun. That's why it's so important for you to know exactly what your prospects and customers want before you begin spending money on marketing. Test, don't guess.

2. SUB-HEAD: TELL THEM THEY WILL HAVE TO ACT QUICKLY TO GET IT

We all procrastinate. We put off taking action even for things we want for a variety of reasons. We get easily distracted. If you don't get immediate action from your target group, there is a good chance they won't come back to your marketing vehicle later. It will surely get lost or tossed. Out of sight, out of mind.

It's up to you to help your prospects and customers overcome their tendency to procrastinate and take immediate action to get what you are offering. You do that with what is called a Sense of Urgency. Tell themrepparttar 121625 offer ends on a particular date, perhaps in a week or two. Or tell them that there is a limited supply, or that they will receive a special bonus if they act now, but they will missrepparttar 121626 bonus if they put it off.

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