Dec
21
Earlier this week I happened to be sharing a dram with an hotelier who is nearing completion of a £1 million refurbishment of his property.
These days it is prudent to cut costs. So that’s what he’s doing: Advertising programmes have been sliced; product offerings reduced; staffing levels cut and employee training brought to nearly a standstill.
At the same time, some wild sales offers are being made online – you might have seen these offers floating about on the internet, for example “rooms for only £10”.
Elsewhere on this blog I try to encourage you to think of your marketing expenditure as an investment, not a cost. To do this effectively means you have to prepare it and measure it as an investment. You’re not a bank, no government is going to come and bale you out. You’re not a bank, with a bit of luck you might actually have a sustainable business model.
But unless you treat your marketing efforts with the respect they deserve, your other investments (in the fabric of your property for example) will be exposed to even greater risks.
These days it is prudent to cut costs. So that’s what he’s doing: Advertising programmes have been sliced; product offerings reduced; staffing levels cut and employee training brought to nearly a standstill.
At the same time, some wild sales offers are being made online – you might have seen these offers floating about on the internet, for example “rooms for only £10”.
Elsewhere on this blog I try to encourage you to think of your marketing expenditure as an investment, not a cost. To do this effectively means you have to prepare it and measure it as an investment. You’re not a bank, no government is going to come and bale you out. You’re not a bank, with a bit of luck you might actually have a sustainable business model.
But unless you treat your marketing efforts with the respect they deserve, your other investments (in the fabric of your property for example) will be exposed to even greater risks.
Continue reading "Listen very carefully - I shall say this only once"


