Make hay in the dark.
Because the sun will shine again.
The travel industry has been hit hard by the Covid-19 pandemic.
But it’s not going to last forever, and you can use this “down time” to make sure you’re ready for a Comeback. One thing you can do right now is read this great piece on Hotel News Now. Some good stuff there.
(We especially like the part about the importance of creativity going forward.)
Here are few of our own thoughts:
Here are few of our own thoughts:
Give people a reason to book in advance. Flexible cancellations and no charge for re-booking are common practices these days, so why not offer a discounted rate for rooms booked, say in the fall – and charge one night’s cost as a non-refundable deposit? That could generate some revenue now when you need it. And you could even offer an additional incentive by donating a percentage of that one-night’s deposit to a good cause. Sort of a "buy now/save later" thing. Your guests can save on a future stay and feel good about doing it. There is actually a group that provides the means to sell a "bond" and save you all the trouble. "Buy Now, Stay Later." Check it out here.
Don’t disappear. The economics of the situation aren't too different from a recession. And it’s a fact that businesses who maintain an advertising or marketing communications effort in the down times come out of it much better and much faster than those who disappear. This is not an opinion; it’s a fact. And, as an independent, you need to realize that your chain competition is certainly not going to go dark. They’re going to capitalize on their rewards club databases and stay very visible to their most important audiences.
Smaller advertisers rely on a steady, ongoing drumbeat to build awareness and compete in a crowded environment with bigger spenders. If you stop advertising, it will slow or stop the awareness you have worked to build, and the cost to regain it will be higher. Playing catch-up always is.
Look for media opportunities. Like everything else, media channels are changing because of the virus. Keep in mind that the number of businesses, wisely or not, going dark, means media channels are more desperate for advertisers. That means they’ll be open to negotiation, and you can get more for your money in a much less crowded environment.
So look for new products and ask for discounts and delayed payment options so you can continue being visible but pay later when business has started to come back. Don’t buy straight off the shelf at rack rate. Partner with your media outlets.
Take a hard look at your IT and website. One thing you may have noticed is that the way almost everybody does business has changed and a lot of it is going to stay changed. Distance learning, virtual yoga, overloaded online banking systems and the like. So maybe now, while things are slow, you could tune up your IT capabilities, get your database cleaned up and get the kinks out of your website.
There’s more you can do. We’ll share more ideas, and you’ll probably have some of your own. But the key to this is your mindset. Don’t hide and just wait for the crisis to pass. Plan ahead. And set yourself up for quicker success when the world opens back up for business.
It’s going to get better one day. The question is whether you’re going to be ready to take advantage of it or not.
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