Nov
4
Do you know what it costs to get a customer to book at your hotel?
Do you know how much it costs to make someone aware that your hotel exists?
Do you know how much a customer is worth to you?
This month, why don't you try an experiment...
Do you know how much it costs to make someone aware that your hotel exists?
Do you know how much a customer is worth to you?
This month, why don't you try an experiment...
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Keep a log of all the activity and expenditure involved in getting people to book at your hotel.
- That's all the time spent sending letters sent out. (x the hourly rate of the person who did it)
- All the time spent sending emails sent out. (x the hourly rate of the person who did it)
- All the time spent answering enquiry calls. (x the hourly rate of the person who did it)
- The cost of all the brochures used.
- The cost of the paper, the envelopes and the stamps.
- All the time spent online. (x the hourly rate of the person who did it)
- All the time spent on the phone. (x the hourly rate of the person who did it)
- All the time spent writing proposals. (x the hourly rate of the person who did it)
- All the time spent in face to face sales meetings. (x the hourly rate of the person who did it)
- All the time spent networking. (x the hourly rate of the person who did it)
- All the time spent preparing adverts. (x the hourly rate of the person who did it)
- The cost of placing adverts.
- The cost of commission on bookings received.
- And (controversially it seems) the cost of any discount you've had to offer to get those bookings.
There might be other things for your business. Add them too.
When you've got that figure, get a blank piece of A4 paper and write it down near the top of the page.
Then add up the number of all the bookings you took this month (not for staying this month - you want the bookings made this month). Write that down below the first figure.
This might be a bit rough and ready, but divide the Cost of the bookings by the number of bookings taken. Write that down and underline it.
That's your cost per booking.
Now add up the value of all those bookings for the month in question and write that figure down.
Divide it by the number of bookings (you've already got that written down).
That's your average booking value.
How do you feel?
Are you getting the results you want from your marketing?
Keep a log of all the activity and expenditure involved in getting people to book at your hotel.
- That's all the time spent sending letters sent out. (x the hourly rate of the person who did it)
- All the time spent sending emails sent out. (x the hourly rate of the person who did it)
- All the time spent answering enquiry calls. (x the hourly rate of the person who did it)
- The cost of all the brochures used.
- The cost of the paper, the envelopes and the stamps.
- All the time spent online. (x the hourly rate of the person who did it)
- All the time spent on the phone. (x the hourly rate of the person who did it)
- All the time spent writing proposals. (x the hourly rate of the person who did it)
- All the time spent in face to face sales meetings. (x the hourly rate of the person who did it)
- All the time spent networking. (x the hourly rate of the person who did it)
- All the time spent preparing adverts. (x the hourly rate of the person who did it)
- The cost of placing adverts.
- The cost of commission on bookings received.
- And (controversially it seems) the cost of any discount you've had to offer to get those bookings.
There might be other things for your business. Add them too.
When you've got that figure, get a blank piece of A4 paper and write it down near the top of the page.
Then add up the number of all the bookings you took this month (not for staying this month - you want the bookings made this month). Write that down below the first figure.
This might be a bit rough and ready, but divide the Cost of the bookings by the number of bookings taken. Write that down and underline it.
That's your cost per booking.
Now add up the value of all those bookings for the month in question and write that figure down.
Divide it by the number of bookings (you've already got that written down).
That's your average booking value.
How do you feel?
Are you getting the results you want from your marketing?
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