Left: The Sheraton Nanjing Kingsley Hotel & Towers: My local hotel, office, gym, bar, restaurant... Well, everything really! The Sheraton brand of hotels is an industry leader when it comes to innovation and resourceful marketing.
Light at the end of the tunnel
Whether you are in the hospitality industry and trying to ensure your hotel or motel keeps its head above water, or in the software development industry and desperately searching for hotels and motels to purchase your booking system, there looks to be light at the end of the tunnel! It may only be a small and flickering light, but at least it’s no longer a never ending pitch black tunnel of doom.
Now is the time to withdraw your ostrich-like head from the hole you have created in the sand and take stock of your current situation and take charge of your future opportunities. It appears that the upside of our current economic downturn is not too far off and you want to be (read ‘need to be’) the first hospitality business to switch from ‘survival mode’ to ‘all stations are go’.
A changed market
As you step into the sunlight, you will see that your market has changed considerably; and with it, your competition. Your prospective customers have a new attitude to spending, and the companies they work for are still holding on tightly to the spending reins; their values have altered; they now expect the best value, complete price transparency and uncompromised honesty.
No longer will they pay slightly above the odds purely for the convenience or to save time. No longer will they put up with receiving slightly less than they’d expected purely because it’s time-consuming to complain.
Also, many of your less market-savvy competitors have disappeared never to return; so, now is the time to embrace your new market and the new ideals of your customers and expand your market by adapting to these changes.
Rewarding loyalty
Start by rewarding your loyal customers; those that stayed in your hotel or bought your booking system during difficult times. Any marketing initiatives or reward schemes that were put on hold because of the recession; now is the time to put them into action. Ask for feedback, listen intently, and respond promptly; make them feel special and make them feel appreciated.
Let customers know you've done more than survive
You also need to increase advertising, once again. Let previous customers and prospective customers know what your plans are for the future, and how you have changed. Do you have an upgrade to your software package? Have you renovated your rooms? Now is the time to spread the word. Tell the world that not only have you survived these difficult times, but you’ve improved and grown! Tell the world before your competitors do; don’t blend in; be one step ahead. Shout about your achievements.
Train, train, train
Finally, if you didn’t continue to do so during the downturn (which I hope you did!) invest again in employee Training and Development. Your employees will be unsure about the market and even more unsure about their future; they need to be reassured and motivated. Without the reassurance that you are investing in their future, they are likely to head for the hills, or worse, your competitor. You need highly motivated staff to deliver your message to the market and promote your excellence; with lack of motivation and training, this just will not happen.
Be one step ahead
After so many months of cutting costs, putting initiatives on hold, freezing marketing budgets, and improving resourcefulness, it feels irresponsible and risky to start expanding and adapting to an improving market; but do it. You must stay two steps ahead of your competition in order to survive, and they are only one step behind you in firing on full cylinders… So, put your foot down and see where this exciting new road might take you.
In my next post, I will be providing you with more detailed findings from my booking system research. Watch this space for more information.
Best of luck!
Emma
If you are a small to medium sized hotel, motel or guest house, or a hotel booking system developer, in need of independent advice from an industry expert, please contact me on eharradine@hotmail.co.uk. Even if I’m unable to offer you the exact advice you need, I can put you in contact with a company that can.
