The ageing marketing chronicle states that the cost of acquisition of new customers is at the least 6 to 7 times more than the cost of retaining an existing customer. Customers are a hotel lines most valuable asset. Keeping the customer satisfied and loyal is thus, the greatest need for any hotelier in the business.
Here are 4 ways to create the best hotel loyalty policy. How do we know? We’ve been working along side one of India’s top grossing Hotel lines, Sarovar Hotels & Resorts with the Sarovar Rewardz Program, and have first-hand experienced their growth in the country.
‘To gain big, you need to let go of a few’. This underlines the purpose of the various loyalty programs undertaken by the companies. If there is one thing that delights the customers, it is recognition from their favourite brand. Giving a chance to the customers to earn some points on the purchase of your product and then exchanging them later on for a prize is a classical example of a loyalty program. Apart from ensuring repeat sales for the company, it also gives a chance to the customers to win something in exchange of buying their favourite product.
For the company handling multiple products, it is not possible to advertise all its products till eternity. Advertising and brand promotion are the means of giving a launching pad to your product, but if you are needed to revert to it every alternate month, it suggests that your product isn’t making any progress. The companies strive to achieve a point in time wherein the product runs on its own without any need for further advertisements.
Every business today wishes to excel in whatever they do. It requires the corporates to rise beyond orthodox mediums to contemplate, create and cater promotional mediums that matches the brand in a way that it can come closure to the audiences.
Markets today hold the cut throat competition that may require the professionals to either go on pushing through the professional peers exhaustively to capture maximum audiences, or be sceptical and settle for something average. Business houses that are stubborn about rocketing their brand in the open and chalking their niche in the sector, need to be extra careful while when they go about launching their brand, commonly known as brand activation. Below quick actions things can help the brands achieve the solace with their ambition.