Loyalty Marketing For Vacation Rental Managers
HomeAway Breakfast SeminarSan Diego – November 2013
Visual Data Systems
• Custom Desktop and Mobile Website Design
• Online Marketing Consultation and Training Services
• Search Engine Promotion
• PPC• Email Marketing• Social Media
Marketing• Reservation System
Integration
Overview
• Loyalty Marketing Overview• Communications• Exclusivity• Rewards/Perks• Putting it All Together• Q&A
LOYALTY
loy·al·ty
Is expressed when a customer chooses your product when other options are mostly equal.
What is LOYALTY MARKETING?
“The effort to identify, maintain and increase the yield of best customers through long-term, interactive, value added relationships.”
- Colloquy
Why is Loyalty Marketing ESSENTIAL to a SUCCESFUL Business?
• Improve customer retention (repeat business)
• Increase market share
• From competitors
• Cross-/up-sell
• Provide a framework for relevant dialogue
EXAMPLES of Loyalty Marketing
Loyalty Marketing & Your Company
• How do you define a loyal customer?
• How much does a new customer cost ($) v. retaining a current customer cost? (Hint: About 6X as much!)
• If you could increase your percentage of loyal clients based on your definition by 5, 10, 15% - how much would that be worth?
Your VALUE Proposition
‘The promise you are
making in exchange for
something of fair value’
What Do You Want?
① Data
② Advocacy
③ Dialogue
④ Sales
What Are You Willing To Give in Return?
Four Basic Ways to Deliver Value:
① Members Only Discounts/Privileges
② Promotional Currency
③ Soft Benefits
④ Dialogue
✔
Communications• Email Marketing
– Segment according to data received from clients and prospects
– Ask what their preferences are
– Pay attention to your KPI’s
– ROI from $50 to $175
Communications• Automated Emails
– Use automated emails reminding them of your value at select times
– Use ‘your’ personality in automated emails
Communications• Text Messaging
– Must Opt In– Use Sparingly
Exclusivity
• People want to feel the are receiving ‘benefits’ that are not available to everyone
• Use the words that imply exclusive in communications and marketing– ‘Members Only’
Rewards/Perks
• Soft Benefits– Early Ck-in– Late Ck-out– Free linen
• Hard Benefits– Free Stays– Prizes– Discounts
Rewards/Perks
• Turn Points into a commodity– Give points instead of
refunds or discounts
Putting It all Together
• UNDERSTAND the IMPORTANCE
• DECIDE your LEVEL OF COMMITMENT
• Work with a CONSULTANT• Analyze• Strategize• Implementation Procedure• Analysis Tools• Exit Strategy
• Get COMPANY WIDE BUY-IN• IMPLEMENT• ANALYZE & STRATEGIZE
again• TWEAK and MODIFY
ComingSpring 2014
Guest Loyalty, Retention and Optional Rewards Tools and Consultation
Member Set Up and Management ConsoleExclusive Vacation Planning Tools For MembersMultiple Communications ToolsOptional Rewards Program
Visual Data Systems20 years serving the Vacation Rental Community with Web Design,
Online Marketing Solutions, & Reservation System Integration.
www.vdsys.com [email protected]
Robert Gray, VP – Vacation Rentals410-964-8665 ext.:[email protected]
www.GuestAdVantage.com
http://www.slideshare.net/VisualDataSystems