Hospitality Marketing Podcast 243 April 3rd 2020
Hospitality Marketing Podcast 243 April 3rd, 2020
Hospitality Marketing Podcast 243 Transcripts (English US)
Announcer — Welcome to this week in Hospitality Marketing. The podcast show number 243 with your host, Loren Gray. Hello, everyone, and welcome to hospitality marketing the podcast. I’m your host, Lauren Grey. And this his episode number 243. So each week we spent around 20 to 30 minutes sharing the most interesting tools, news and techniques being used in marketing for the hospitality industry. We also do a quick recap of our weekly live video show this weekend, Hospitality Marketing, which also airs every Friday at 11:30 a.m. Eastern US time. So with that, let’s get started.
Announcer — And now today’s new resource tool Okay, so we usually do our tools first, then our technique, and then we do the news and review. We’re going to keep the same format, but it will be a little mysterious as to why we’re recapping some of these tools that we’ve already talked about before because they’re really tied into a technique that I really want to talk about today. That is about the emergence of something to come and on being on a positive note, given the circumstances that we’re currently living through, I wanted to talk about what to do to work now so that when the opportunity arises in the future, we will have, um, our ducks in a row, so to speak.
So we’ve talked about these tools before one not in particular, but tune to directly. One is a platform called Iceman AJ, which is a wonderful tool that you could go into seem to a spy food which we’ve already talked about before. We’re gonna focus nice bananas. Today I spent ash allows you to go in and look at the historical paid history of your competitors. The historical paid history of anybody in your market. Actually, um, it also allows you to go over and track your s your presence and placement against your competitors.
And so far, it’s a wonderful competitors. Discovery tool, that is. IspyP i o n a g e dot com. It is a paid for service. They do allow little free testing for but pretty much visibly, only some top level results. And for what we’re going to talk about today, you’re going to want to have a little bit more of an in depth look at what you can do with it, so I would definitely recommend this is the pay for functionality that you want to step into.
The other platform we’ve talked about before is a war e o A W a r i o dot com. And this is a monitoring tool that allows you to see based on what keywords hashtags websites you put into it. What people are saying about it on multiple platforms is a great discovery. Tools we’ve talked about in previous shows to discover influencers or those people that are in high engagement with you also was being said about you for sentiment as to what? What positive negative feelings air towards that plus two geographic location of where all this is coming prophecy of a sense of traffic opportunities that we’ve talked about it in the context of discovery.
From that perspective, The third for us, would be brand mention dot com. Now, brand mention is similar to our Oreo in the sense that it monitors all the platforms you choose for it and look into where and what’s being said for any context again by keyword hashtag website. And those are two similar tools to discover a tremendous of content about your market space, about your voice of market, what’s being said in market. We’ve also mentioned ah platform trend tool called trends on, and this is to monitor what is socially being said in your market.
What terms and vour bridges are being used, what hashtags are being used, who’s being referred to in your market. And to that end, we’ve also talked about social insider. So you see, we’re talking a whole mess of tools we’ve brought up at one point or another for different reasons of their value. Competitors discovery, compacted competitors. Competitive analysis is to what they’re doing to steal what they’re doing right and bring it into yours. But today we’re going to be talking about them in a different context. They don’t know about them into a sense of discovery about opportunity, off terms, going into what we hope to be our technique, which is the game book now 12 we have not talked about before.
It works very similar to ah tool called G rou, which was a analysis tool for scenarios. But this one’s from Google and it’s in your ads program and it’s for free and its ads dot google dot com Fort Size Budget planner Now what this does, and you have to have an active series of campaigns for this to work truly properly to build a budget planner. But what it does, in essence, is takes a current budget ad campaign that you’re running and then allows you to take it out of reality and mess with it.
Change it. Create variables for changer CPC. Change your budget amount. Change your range of click requirements. Change of conversion values allows you to determine if you are to change the metrics of this particular budget. What would be the potential Impact B’s done whatever you want to whether be clicks, click throughs, total revenue, spend total revenue cuts, ah, total budget to spend. It allows you to multiply the variables and change it to see if there’s a better way to do the campaign that you’re currently running. Now, why is that important?
Well, we know that the world that we had left behind going into this current series of events is not the same world we’re going to enter into afterwards. People’s search history, their travel preferences, their interest levels, their concerns for travel their very nature of what they’re going to want to travel for are fundamentally shifting and changing, especially out of the longevity of whatever along this last for us. With that in mind, there’s a need for research going into the same budget that you had before the same keywords that you had before the same strategies you had before.
It means you’re not keeping up with what you’ll need into the new world of what comes out of what we’re doing to right now. So all of these tools I just mentioned, which, of course, are in our show notes for you to go back and look at and Lincoln and see and maybe purchase. Inquire for those that cost money is all towards what is now going to be our discussion on the technique of the week Now for this week’s hospitality technique. Okay, so our technique of the weekend calling game book now for all our football fans, we know that every coach and every team goes into a game of football game with a strategy and to baseball and all the other sports.
I’m just gonna pick on football in particular for this one. They know what their first play is going to be. They know based on variables, but the second place probably going to be. And as the time goes on, those probabilities decrease as the variables increase. So where they start may not be where they ended intentionally, but where they start determines where they end now, not done. Sound esoteric. That means that the first game plan is the one that’s already preplanned. Well, that’s what you need to have for your hotel or your restaurant or your food and beverage operation of any sort.
Going into what would hope of the the emergence of your market voice Again, we talked about the fact that going into what we are currently experiencing is not the same as we’re gonna come out of it. People’s questions, their searches, their concerns, their variable ways of looking for things are changing as we speak. So all of the keyword baskets that you had before all of the strategies you had before the budgets based upon those the cost per clicks upon those are all pretty much worth the trash man now.
It’s not to say that they won’t work in some capacity if they were simply turned back on. I mean, there is relevance to what you had built, but that relevance is not as relevant as it will be for going forward. Now. I’m not here to tell you exactly what words to search for and what exactly is necessary to go from fun at two. To categorize the mask. That’s literally a work in progress. Ah, work in progress that you need to start now. You need to be researching now the changing landscape of what’s being searched four in your market, how it’s being searched. Four.
In your market, what is being searched for in relationship to what people will use it for in your market. Now what I mean by this is we all know we’ve already mentioned that some previous shows that the cost per click on a lot of paid campaign stuff is unaltered. Time low. I mean, there are There are terms that you used to fight for for tens 15 twenties of dollars that are now in the dollar. $2 range because there is no value to bidding on them because nobody was in travel at this particular point.
So why spend money on something that not necessarily is there now. There is some rationales we discussed as to why it’s good to be in that space right now. Become where people don’t discover you at a higher level than that you would never be able to be found before. But that’s a discussion based on your finances and liquidity of monies to determine whether you have that affordability right now, aside from that conversation, you need to know what your first play is coming out of the gate Now.
I’ve used the analogy and previous webinars and conversations, live show and so forth. And if you’re familiar with car racing, there’s the Lamont. I just watched the four versus Ferrari, so it was kind of fun to put that into the analogy. The racers stand on one side of the track and then when they’re given the flag, they ever run over and jump in the car, start the car and take off on the race. Okay, well, in our analogy, when this happens when the day comes, we were able to have travel, enter into people’s minds again, where they want that they have the means to do this. Okay?
Some people are gonna run in, jump in the car. The car’s not going to start cause they fired the mechanics, Some cars. I’m gonna start cause they ran out of gas, a k A. Money to actually be able to go anywhere. Other cars, they’re gonna get started. But they’re gonna have problems because they didn’t maintain them well enough and they don’t know what to do next. They never looked at the tract in the world to turn left or right. The ones that prepped and planned and kept their cars in great shape kept monies available.
So there’s gas in the tank. Took the time to research the track to know exactly what they were going to do as soon as they got into the car and made that first jump and took off into the into the track. Those are the ones gonna be ahead of everybody else. It doesn’t mean I was gonna stay in there, remember races one at the end. Not the beginning. But they will have exposure. They will have people talking about and such and such is the beginning the race so forth and so on.
That’s what you need to be. And you need to do this in the descending fashion, so your first play is the play to get you out in front. First. That player to get you out in front first is followed by the play that keeps you somewhere close to being in front, if not in front. And if you have to keep falling back because other cars as males and be maybe are better, faster and you and they may have better drivers, the idea is that you’re at the right place at the right time for people to know you’re there.
So going back to the football analogy, since we’re full of analogies today, it’s about being aware how to start the game and then once it gets too rich for your blood or you can no longer afford to be in that space, what’s the next level you go to and already have that plan already have that laid out and it’s not what you think it is right now. As a matter of fact, I would not be able to tell you that if I made a playbook of right now, that would be the same playbook with that.
We would use a week from now or two weeks from now or even three weeks from now should still be delayed as to when we could even use this playbook. It’s an ever evolving process. All these tools I mentioned, I spin as the war e o the social insider, the ads Google Budget Planner, the G rou. All of these ones are all tools to begin that monitoring process. Tow, watch and see what it is that people’s changing terminologies of search are now because their search hasn’t the volume hasn’t gone down.
People are at home. They’re looking for things. They want to know what they’re going to do when they leave. They’re doing what we’re talking about for a personal level we’re talking about from a business level they’re looking at. What is the first thing I’m going to want to do when I get out of here And they’re planning and their search priorities are changing, there’s now more search for what is sanitation rules that you’re running by? What is your cleaning patterns for your hotel? What is the distance from here to there?
Blah, blah, blah. So for this one that are different and building up your biggest most brightest terms, the most expensive I wish I could be in those terms. List is tier one. Then, as you take time and you look at where you’re thresholds are your cost of acquisition versus what you re actual revenues and so forth. You have thresholds. So say, for instance, if you had, uh, booking is worth, say, on the new world, of whatever the air would be $300 for a two night stay total 159. Okay, says $300.
What is your value? Proposition of cost? His acquisition. Is it 10% of that? Is it 14% of that 11% of them. What is the value of that? Say it’s 10%. So you have $30 now. Obviously, you look at your volume of traffic for your key words. You’ve researched those words. You look them in clusters of keyword. Get clustering that you have. You say Okay, so I’m gonna have this huge amount of volume. What’s the click through rate that click through rate potential on these key words. And you get those from those tools I just mentioned.
Then, from there, you determined from the clicked Well what’s my conversion rate? So maybe out of all of it, if you say you know, my click through rate is 3%. My conversion rate is 10%. Then it’s gonna cost me whatever dollars per threshold. What’s the dollars for that? Up to $30. Well, that means I might I might be able to stay in that space for as long as it gets up to my cost acquisitions. $30. Then I have to retreat from that. Because at that point, then it’s no longer good for me.
To be in that space is too expensive. But by then, you already have your second game plan. You already have your second place set up saying, OK, they covering our past team. So we’re gonna have to do a run game now. So now we’re on tier two so we can’t go there for the super big, fluffy words anymore. We’re gonna go for the second best super fluffy words and those at the same threshold. How long can we last in that space? And then eventually, when they figure out the run games, All right, we’re gonna just calm, but we’re gonna start doing some screen passes and so forth woods up the middles and what have you So that’s that’s two or three and you go on and on and on.
But you have a game book. You have a plan that says when this begins to emerge, when we begin to come out of this, that we’re not looking to scramble to put everyone together, but rather we know what we’re going to do when we do get to go together. So that is my technique of the week, of which I’m calling game book tracking, analyzing planning for the emergence of a market voice. Now, this week’s hospitality news that you should know. Okay, so news and review we had an awesome show.
Truly, an awesome show lasted well over two hours with us. We had Max dark off. Who was the previous founder of Heads, which is now next guest. Hey, is now a magic professor, and why you teaching hospitality technology also was the new Argh! Whoa, who is the founder and president of Milestone Internet? Both of them have been dear friends of mine and for our other co host for a very long time. It was wonderful toe. Have them on the show. Um, wealth of information, Very positive. It was a lot about us talking about what to plan and do for now.
Minute gave some excellent slide deck information on what, exactly the three stages of growth will be for us. What we need to do now versus what we need to do in the short term future versus the long term future, the emergence of what we should be doing. Max made wonderful points about those companies that shut off their sales and marketing will be the last. To be able to come out of this because they will not have the tools of resource is to truly make an effective change and coming back in the market a little bit of what our earlier conversation about our technique for today about having a game book and I guess the game plan.
So great conversations, then Also joined with us was Tammy Carlo from Milestone Internet as well. She is the North America hospitality manager for them, a brilliant, brilliant woman known her for many years as well. Great right hand to the new, also with us, was ever ST Onge, president and founder of Flip to Stuart Butler, who is the c 00 of fuel travel, has an excellent podcast. Award winning podcasts of one is doing a tremendous amount of great contribution content on a daily basis associated with what to be doing that right now, which was the core theme of our live show that today as well.
Mr Robert Cool with Rock Cheetah does our curated list every week. If you want to sign up for his list of top stories Brained product Intermediaries Distribution Market Street, the list that we use is a baseline, which we didn’t get to on this show, because simply we had such great co host with us. The conversation stayed the entire two hours plus because of all the great content that they brought to the table. Ah, but you can sign up for them for his weekly newsletter, Free No Obligation to it a bit.
Lee B. I t dot L. Y Ford’s last Rock Cheetah Lower case. Also with us was valid Parini with nor one. She is amazingly talented woman very knowledgeable and really had fun conversation with her dialogue as well about what hotels need to be considering. As to the now process not sitting on our hands waiting for this to pass, but rather idle hands make well, anyway, um, in that big too many analogies today. But the idea is that doing nothing and having no sales market people doing nothing right now is really destined in yourself that you can’t cost.
Save yourself into operational profitability. You can’t save enough money to know that when you come out of it, you’ll just get pick up all the people that you’ve let go because you cut costs. One of the worst things we’ve seen companies doing is cutting staff and team simply to save the dollars of not keeping them around. And rather than being the people, people, person company that they were touting just a few weeks ago, there’s gonna be a day of reckoning for a lot of companies coming in through this of those that took care of their teams versus those that didn’t and you’re going to see a lot of shifting of great talent two companies that showed their true colors as to being the good company versus the companies that didn’t so that was our live show.
It was again very amazing life show, um, through the process of what people should be doing now. I don’t want to take on too much time with any top stories. Obviously, the top stories, literally. What are we doing now during the current circumstances associated with this? This total stop on anything related to our industry at this point? Um, again, Robert gave a great curated list. I’d much rather refer to the fact that he had some great contents for those he did have what we call it a boop, which is the positive aspect.
And he says, Of course it’s hard and hard to find these days, but he did have a boop, which was the 50 best travel films of all time. It was a fun little thing just talking about how some of these movies showed type places in the world at a time that never will be seen like that again. Uh, and it’s just it was a fun reflection of the fact that travel is a part of our human nature. So with that, remember, you can find us on Google play apple iTunes I heart radio soundcloud stitchers, Spotify, Pandora to actually 36 different platforms, including going to Amazon, Lexa, Google assistant and cirie and just simply saying, Hey, Siri ago.
Okay, Google or hey, Lex, have play hospitality, marketing podcast and open the latest episode. This being the latest of them all, no matter which 1 may use. If you like to the show, please raid us and leave a comment that helps. That helps people finding us. See, my watch even told me I was talking to them that house people find us and spread the word as to what we’re sharing in the sense of content. Also, this year, first time hearing she could, of course, subscribe to our show in any of those platforms that you found us on.
And for an archive of all of our previous podcasts, you can go to hospitality digital marketing dot com forward slash podcast. There you’ll find all the links of all the tools I just mentioned on. Don’t forget also our live video talk show. If you’d like to get back and listen to the amazing dialogue we just have with Max and Manu and Tammy and rest of the team, then you can join us and participate every Friday 11 30 Eastern US time called this week in Hospitality Marketing, The Live show and you can see the replay of it and all previous two armed 41 other shows.
A 42 other shows Excuse me at Hospitality digital marketing dot com. Ford slashed live so that I thank you for the privilege of your time and look forward to talking to you next week. You have been listening to this week in Hospitality Marketing, the Podcast show 243. Brought to you by hospitality, digital marketing and support of the HSMAI, the Hospitality Sales and Marketing Association. International rights reserved copyright 2020.
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