Effective and Low Cost Marketing Strategies for Any Hotel and Restaurant Owner

Marketing need not cost you an arm and a leg!

Below are effective and low cost marketing strategies that you might have overlooked. What’s more awesome is they are so easy to do.

Discover these eight easy and incredibly low cost marketing strategies that you could easily apply to your own hotel and restaurant business right now:

1. Do the unfamiliar – If you want a better outcome for your hotel and restaurant then you must change your routines. Expand your network and attend functions. Be prepared to tell people exactly what you have on offer and do not be afraid to ask for business.

2. Get new business from referrals – We are all connected. Everyone can be your prospective customer or knows someone who is a potential customer. Do not be shy to enlist the help of your family, friends, associates, and neighbours to help you grow your business.

3. Set up strategic partnerships – If there are businesses that can refer customers to you and you can refer customers to them, give them a call and go and see them. Set up a more formal arrangement, exchange brochures, get to know their business, and start referring as soon as you can.

4. Be visible – Stand in front of a crowd, send letters to the editor, look for relevant local organizations to join or become a head of at least one. Distribute your business card to as many people as possible.

5. Volunteer your time for public service – If you just make time for it, you can be referred to businesses just by being a good corporate citizen and helping out in local charities or events. Make time for it and get well rewarded in many surprising ways.

6. Use a blackboard – Surprisingly, you will be amazed by how much business you can get from simply putting a blackboard outside your hotel and restaurant.

7. Ask your customers for ideas – Take some time to sit down with a few of your customers and ask them for ideas to help you grow your hotel and restaurant. They will generally have some very interesting ideas that you may not have thought of. Smart hotel and restaurant owners are always very open to other people’s ideas, and who better to look for ideas than your existing loyal customers? They get to feel good because you asked for their opinion and you get some great advice (hopefully) for free.

8. Do not underestimate the power of simple, thoughtful gestures – Look for ways to do the little things for your customers that other hotel and restaurants won’t bother to do – remember names, give them an on-the-spot discount, and always look for ways to exceed their expectations.

Now, get out there and start applying these eight easy and incredibly low cost marketing strategies. If you do need help executing any of these strategies, you can always personally email me on Jay@theBizVo.com to help you get started.

Three Guaranteed Ways to Double Your Hotel and Restaurant Sales

I’m sure the ultimate desire of many hotel and restaurant owners is to watch their businesses grow. However, most hotel and restaurant owners that we meet experience the same problem in time management – they are not able to devote enough time to stop and think of strategies and techniques that will make tremendous impact to their businesses.

Do you know that there are three main strategies to double your hotel and restaurant business? And I believe it is time that you benefit from this awesome knowledge.

The three strategies to double your business are the following: get more customers for your business; get customers spending more; and get customers coming to you more often. The strategies are very effective when implemented one by one, but they produce awesome results when utilized together. This is where awesomeness happens because these time-tested strategies have a multiplying effect on each other, similar to a compound interest. Let us discuss them in more detail.

1. Get More Customers

The first and obvious way is to get more customers for your hotel and restaurant. The number of your existing customers is proportionate to your profits. So simply double the number of your customers to double your profits. Sounds simple but it is also the hardest and most expensive way.

It takes a lot to get new customers because you have to build a relationship with them. They may need multiple contacts with you and your brand before they can recognize your presence, earn their trust, and do business with you.

2. Get Customers Spending More

The second way is to get customers spending more. Up-sells are the most common way to achieve this, as best exemplified in common culture by McDonalds’ “Do you want fries with that?” Apply this to your own hotel and restaurant and ponder on the possible up-sell you could apply at the time of purchase for your customers.

An ideal up-sell compliments and adds value to the original purchase, but it should not be something that the customer expects to have been included in the original purchase. For example, if your customer registered online for a ‘3 night room accommodation to one of your higher rooms,’ then a good logical up-sell is a ‘1hr full body massage,’ rather than the standard buffet breakfast that most hotel customers would already be used to.

In today’s Internet Age we are fortunate because of the ease and convenience in increasing order value. There are available commerce store platforms like Shopify where you can buy Apps that allow you to easily create up-sells without having to write a single line of code.

Hotel and restaurant owners can also think of ways to influence customers to spend more by offering bundles of related products. In this method, there are two or three products added to the purchase together as a bundle, and the customer can avail of a discount on the purchase.

3. Get Customers Coming Often

Finally, the third main way to double your hotel and restaurant is to get customers coming and the buying from you more often. You can best do this with strategically designed “nurture sequences” and marketing funnels. Follow up with your customers persistently so that they remember to buy frequently. One of the best examples with my hotel clients is what we referred to as ‘Room Recommendations for You,’ based on things that the customer has previously purchased or has inquired about.

Relationships with customers do not end after a sale. You need to follow up with them so they will be encouraged to make additional purchases. The usual way to do this is through email marketing. Another way is through retargeting where you input tracking codes to your site that allows you to follow site visitors as they navigate around the web. Facebook remarketing is now getting highly developed and something we regularly implement with our Business Evolution clients; it has come up with parts that guide buyers as they purchase one product to another based on pages on your site and scope of marketing funnel.

If you apply this to your hotel and restaurant business, imagine what would happen to your earnings if you increase your registration page conversion by 10%; add a low price product sale (what we in marketing refer to as tripwire) behind the registration; add an up-sell behind the tripwire; improve your phone sales script conversion by 10%; make an email follow up sequence; launch a Facebook re-marketing campaign; and then increase your targeted traffic by 10%? The awesome result: a massive increase in your leads, sales and profitability that enables you to double your hotel and restaruant business.

Take some time to focus strategically about your business as a whole and not just each little task that you need to do. Pull all the levers in your business, sit back, and watch it multiply.

We have found the exact medicine prescribed for growth of most hotels and restaurants. If you haven’t had the chance to meet me in person and learn these strategies and more, grab your Business Evolution eBrochure! We can certainly help you escape work early, take more holidays, and still make record profits with these cutting edge business automation tools and marketing breakthroughs!

The Most Profitable Hotel and Restaurant Marketing Strategy Ever

A hotel and restaurant owner should never run out of ideas to market his or her business. Many business books have been written with hundreds of different marketing strategies about sales and marketing; however, the key is to discover three or five strategies that are suited to your hotel and restaurant. Study the marketing strategies that you think will work for you and implement them.

Hotel and Restaurant owners consider Partnership Marketing, also called “Strategic Partners” or “Strategic Alliances” or “Joint Ventures” as the best marketing strategy of all time. In this method, you evaluate your business and think of other businesses that complement your product or service. These companies should not be your competitors although you have the same or similar customers.

Create an agreement with these companies that you will promote their product or service to your customers on the condition that they will do the same for your business. For a restaurant business, complementary businesses might be businesses offering condiments, drinks, suppliers of poultry, fruits and vegetables, and many other related businesses.

It is a simple process but if you learn more about it and master this art, you are on your way to massive and lasting business success. Here are five of the many reasons why Partnership Marketing is a smarter way to do business:

1. It is Faster

It is a lot faster and easier to find one business that will endorse you to their 1,000 customers rather than find a thousand new customers one at a time. To make better use of your time and finances, you would surely choose the first option. Write down a list of all your prospective partners then do some research on their businesses as to how you can add value to them.
Once you figure this out, give them a call, email or visit the office, and state that you are open for a partnership agreement with that company. Brainstorm on how you can help each other and better serve your customers.

2. It is Cheaper

Some businesses can afford to spend more than $100 just to generate a new lead, but that applies only to stable businesses. For a business that is just starting out, that would not be a smart financial move. A business would have to spend $100,000 to acquire those 1,000 leads – a large amount of investment that you only hope you could retrieve.

In a Partnership Marketing agreement, you do not have to shell out a large amount of money. Your investments would be a few hours to set up tracking links and write promotional emails. You would also spend a few hundred dollars to print some brochures and leaflets that will go into your partner’s next direct mail campaign.

3. It is More Effective

When a business owner does traditional marketing, most of the leads coming in do not turn to be customers because although many of those leads might want and need the product or service you offer, they might be skeptical or need more time to decide to buy. However, when your business is promoted or endorsed by a person or a company that is already trusted or credible, that power of being a trusted brand is automatically crowned to you.

This is called endorsed marketing, where you will not only get leads, but it will be much easier to convert these leads into sales. This means you accomplish the sales cycle quickly, bringing money into your company faster and leaving your business with more funds.

4. It Helps Your Customers

This is an important point that often gets forgotten. When customers buy and use your product, they will also need other complementary products or services. Hence, they will seek these products or services on their own and if you give them a hand, they will be grateful for your assistance.

In this way, you will also help them stay away from scams or illegal operators. If you know trustworthy companies and inform your customers about them, that is a value-added service for your customers. And satisfied customers will be loyal to you and will toot your horns for you.

5. It is Good for Your Brand

A business that is only starting out naturally has still an unknown or less known brand. Through partnerships, a new business will appear bigger than it actually is. By simply displaying the logo of your partner companies on your website, people will feel that you have more influence because of these associations and at the same time, you are a smart choice for your customers.

This will benefit your business because your partners will bring you new leads, and you will be better positioned to more convert your own leads easily. Existing partnership marketing will also facilitate new partners for your business and push your alliances to the top.