Thursday, October 17, 2019

Can't buy me love

Can't buy me love.

Everything isn’t always all the time non-stop about making money. At least not directly. Sometimes, it pays to look at the bigger picture.

Here’s an example. We stayed at a Kimpton once that held a two-hour happy hour every night, free for guests. They rolled up a keg of beer and some wine, laid out a bunch of nuts and snacks and let it go at that. Easy-peezy. In a sea of free continental breakfasts, this was different.

Another hotel might not want to have such a reception because it won’t make money. Making money isn’t the point. The point is to deliver the Brand. A clear Brand can drive Brand preference, and Brand preference is what leads to more repeat business and higher rates.

So it’s about making money, just not directly.

Same thing with special promotions. Halloween, St. Patrick’s Day, Summer Solstice, Valentine’s Day – whatever. Every one of them is an opportunity to do something other than just offer discounted rates. Do something fun and engaging. Put a rose in every room on Valentine’s Day, dress the staff in green and have a green beer special in the bar for St. Patrick’s Day, bring out the ghosts and goblins for Halloween.

And be sure to tell people you’re doing it – in your email blasts, on your website and Facebook and Instagram pages and in your advertising.

Remember, it all boils down to two words: “Do good. Tell people.”

No, nobody is going to book your hotel instead of somewhere else strictly because you’re having a Halloween Party. After all, Halloween is only one night of the year. But they are probably going to be more aware of you and pay more attention to you because of the collection of events like Halloween parties and green beer specials you’re having.

That whole “penny-wise and pound foolish” thing probably applies here if you think about it.


A hotel without a Brand is a commodity

A hotel without a Brand is a commodity.

And the primary driver for a commodity is price. You don't want to go there.

This is some of what we say about Brand on our website:

"Your Brand is not your logo, ad campaign or tag line. It's a supportable differentiation around which you deliver a unique value. And the moment you stop being just 'a hotel with this many rooms in this place' and start to tell the world that you're 'a hotel that is unique for these reasons,' you narrow your competitive set."

(By the way, anything with the word "luxury" in it is definitely not a unique value. Google "luxury hotel" and you will get 699 million hits. We know this for a fact because we did it.)

A Brand is what can keep you from competing on price. Without one, you may just be a commodity.