Are you playing a numbers game?
The events hosted at a property are the lifeblood of any marketing program. The amazing work the catering and sales teams put into delivering extraordinarily beautiful events in various styles and at various price points is a crucial contributor to inquiries that usher in future bookings. Interestingly, booking volume is one of the results used to evaluate catering and sales managers. While increasing revenue might be more intuitive as a result, the percentage of available dates booked often matters most. It’s no surprise, then, that hospitality marketing has become a numbers game over the years.
Are your qualified leads providing real value?
Inside the hospitality industry, qualified leads are the key investment for marketing. Those leads are driven by dollars spent on digital advertisements, influencer marketing, advertorials, paid wedding placements, social promotion, and other strategies that make up an overall marketing budget. Yet views and clicks, which are the Key Performance Indicators (KPIs) of traditional marketing approaches, often only deliver leads that must be nurtured, negotiated, and eventually contracted for an event date with a property. Depending on the property, booking a full year of available dates could require hundreds or even thousands of leads that would ultimately boil down to a pool of customers who would work with the venue for years to come.
Showcasing “real wedding” content is, of course, vital for hospitality marketing. You can see an example of that content in action in our recent post, “One Venue, Three Ways: Grand Velas Riviera Nayarit.” At Carats & Cake, we believe that paying for a guaranteed number of leads via third-party sites is no longer the strategy that contributes meaningfully to faster bookings. Since we launched in 2013, we have learned so much about the teams that pull off events and how those groups of vendors all sharing a wedding collectively can ladder up to viral moments of brand collaboration. Those moments elevate and differentiate a property’s marketing strategy, motivating customers to reach out with true and clear intentions to book.