Opportunities in the Hospitality Market

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For most print service providers, their biggest challenge is identifying and capturing new clients—especially in this highly competitive marketplace. One often overlooked strategy is looking to …

For most print service providers, their biggest challenge is identifying and capturing new clients—especially in this highly competitive marketplace. One often overlooked strategy is looking to vertical markets for new revenue opportunities. To better assess your capabilities to serve vertical markets, you need to first understand their behaviors and service needs.

This presentation on the Hospitality Market is part of a series of PowerPoints created to help you better understand, and target, six of the highest value verticals according to InfoTrends.

Let’s get started. Do you have any hospitality clients in your portfolio? If not, you may be missing out. There were over 52,000 hospitality organizations in the US according the latest Census data.

Brought to you by Mohawk MakeReady, this presentation can be used for your internal training purposes.

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  • For most print service providers, their biggest challenge is identifying and capturing new clients—especially in this highly competitive marketplace. One often overlooked strategy is looking to vertical markets for new revenue opportunities. To better assess your capabilities to serve vertical markets, you need to first understand their behaviors and service needs. This presentation on the Hospitality Market is part of a series of PowerPoints created to help you better understand, and target, six of the highest value verticals according to InfoTrends. Let’s get started. Do you have any hospitality clients in your portfolio? If not, you may be missing out. There were over 52,000 hospitality organizations in the US according the latest Census data. Brought to you by Mohawk MakeReady, this presentation can be used for your internal training purposes.
  • Anyone who has ever stayed in a hotel or gone to camp has been exposed to the hospitality industry. As a whole, it comprises establishments that provide lodging or short-term accommodations for travelers, vacationers, and others. The industry is organized into three major groups: Traveler Accommodation Includes establishments that primarily provide traditional types of lodging services. This group includes hotels, motels, inns, and bed and breakfasts. In addition to lodging, these establishments may provide a range of other services to their guests. RV (Recreational Vehicle) Parks and Recreational Camps Includes establishments that operate lodging facilities primarily designed to accommodate outdoor enthusiasts. Included are travel trailer campsites, recreational vehicle parks, and outdoor adventure retreats. Rooming and Boarding Houses Include establishments providing temporary or longer-term accommodations, which for the period of occupancy, may serve as a principal residence. Board (i.e., meals) may be provided, but this is not necessarily the case. MakeReady Tip: You probably travel for either work or pleasure — or both. Think about the marketing communications you receive from this industry. Could you improve on them? Could you create a more compelling offer that would have enticed you to book a weekend getaway?
  • Understanding current and upcoming trends for a particular market can help give you insight on activities that may influence their decision to bring on a new vendor. According to a recent study by InfoTrends, the four bullets shown on this slide represent the top trends for the hospitality market—any one of these could impact a client’s buying process. For instance, let’s look at the spa services and conference package trends—these could lead to personalized print projects, such as spa loyalty rewards cards, conference itineraries, and event signage. MakeReady Tip: It’s in your best interest to understand your target market and where that market is going. It will help you be perceived as a valued resource, ultimately providing you with new opportunities to better serve your clients.
  • Like any other organizations, the hospitality segment faces many challenges that can ultimately provide opportunities for print service providers. This industry segment is relatively unsophisticated as far as understanding how to create an integrated marketing program. In addition, they are under considerable time pressures to complete projects. So what can you do to help? First—position your company as their outsourced marketing partner. Explain the advantages of a good marketing mix—including print, online and email. Think about what you can offer. Can your company provide managed campaign services? Project management? Targeted e-mail? MakeReady Tip: Show them the value of a targeted, consistent message spread across multiple channels. Explain the benefits of each channel and how a good mix can help to mitigate risk while enabling channel testing.
  • The average annual external print spend in the hospitality segment is $33,000. This could be annual revenue coming into your business. Where is this revenue going now? A recent InfoTrends study indicates that 66% of the business is going to commercial printers, 50% to Office Super Stores, 31% to Franchise Printers, and 50+% to self-serve copying and printing services. Two takeaways from these numbers: hospitality companies are using different vendors for different types of jobs, and, all of these types of print providers utilize digital equipment. Of those surveyed, 30% expect to increase external print spending on promotional material. This is an excellent opportunity to sell the benefits of variable data printing through digital. MakeReady Tip: Sell the value of personalization for the hospitality industry’s clientele.
  • Hospitality organizations have a wide variety of marketing communications needs. All of these needs provide a tangible opportunity for your company’s services. Here is a list of some of the most common uses as determined by a recent InfoTrends study. Top 5 Marketing Communications Printed directory, such as Yellow Pages (82%) e-Mail marketing (77%) Signage and Point of Sale advertising (74%) Newspaper advertising (72%) Printed direct mail (59%)
  • How can your printing business capture some of this business? You need to bring something more than just your capabilities. You need to bring value. One way to differentiate your company is to provide unique materials that enable higher value printed products to be created. Let’s take a look at how Mohawk Bravo Digital Substrates can help you provide this value to your education customers. We discussed printed direct mail and signage as types of print collateral being produced by some hospitality organizations. Here are some specific examples of how new Mohawk Bravo Digital Substrates can be used for this type of application and environment. Synthetic Materials - Choose any of our moisture, wear resistant PVC or Polyester sheets for hotel room reminder cards or bottle hangers. Pressure Sensitive Materials - Use Pressure Sensitive materials to create personalized wine labels for room service or emergency exit wall signage. Magnetic Materials - Get a charge out of magnetic materials! Create menus for your in-room mini bar fridge or advertisements for an upcoming conference to display on the city taxis. Embedded Card Materials - Use these materials for loyalty reward cards, upcoming conference calendar schedules, or card-sized maps indicating local restaurants around your business. Mohawk Bravo Synthetic Materials are designed for the entire range of digital color production presses including those using high heat to fuse toner as well as HP Indigo ElectroInk. For more information, visit www.mohawkpaper.com/bravo
  • Now that we’ve discussed tangible applications you could sell into this market, let’s take a look at a specific customer case study. Pinehurst Resort, a historic golf resort located in North Carolina, wanted to drive enrollment in its Pinehurst Golf Academy. They created direct mail postcards directing recipients to a Personalized URL. Once at the campaign site, visitors were asked to participate in an online survey that would assess their golf game. After completing the survey, a personalized brochure was mailed to respondents with customized information regarding the weaker elements of their golf techniques.  (This full case study can be found at www.PODi.org.)
  • The marketing mix definitely helped play a role in making this campaign a success. Not only did they capture data on new members, they also grew the attendance for their spring golf school by 50+ attendees over the previous year—a hole in one for the client’s print services provider! Customer satisfaction not only makes it easier to gain repeat business, but it can help you win similar business from new clients. Explain the potential ROI of a project to help sell. Use data and real examples to demonstrate how you have helped your clients achieve their marketing goals. MakeReady Tip: Use case studies of your existing clients to help win similar business from new clients, particularly if they are in the same vertical.
  • The hospitality market provides numerous revenue opportunities for you to capture. It really boils down to these main opportunities for this market that your company can address: Hospitality businesses are looking for ways to “green” their business. Show them the value of print on demand with digital and recycled substrates. Businesses are looking toward social media as a way to stay connected with customers. Are you savvy on the social scene? Mobile marketing is growing as business provide additional information through QR codes and SMS text campaigns to current, future or prospective guests. Personalized communications are on the rise as hospitality business look to establish lasting and relevant channels of communication with current, future or prospective guests. Conferences and meetings create the opportunity for customized meeting packages.
  • Digital printing is changing…and fast. That’s why we created Mohawk MakeReady. A go-to place for guidance, insights and tools to keep you prepared for what’s next. There’s a reason we named this service MakeReady … a little irony, too. Taking a familiar industry term in a new direction, Mohawk MakeReady offers ways for you to make more efficient use of your time, material, people and entrepreneurial energy. To grow your digital printing business, you need to be prepared — with actionable information and tools — so your team can implement best business practices, craft effective sales strategies, and create opportunities to use and promote new high-value products. That’s what you’ll find here: an ever-expanding site , rich with content built on the experiences of digital printers like you. As a leading manufacturer of digital substrates, Mohawk brings you practical wisdom gained from our experience in sales, marketing, production, and operations. With how-to articles on marketing your business, videos on topics like precision sheeting, and PowerPoint presentations showcasing how to identify sales opportunities. All strategies you can put to work today. Talk to us. Let us know what’s on your mind. Mohawk MakeReady. Dedicated to making you ready for the exciting future ahead.

Transcript

  • 1. A vertical focus for approaching new clients September 2011 Research by InfoTrends 2011
  • 2. The Market Defined Companies you know The Hospitality industry comprises establishments that provide lodging or short-term accommodations for travelers, vacationers, and others. The industry is organized into three groups: Traveler Accommodations, RV Parks and Camps, and Rooming and Boarding Houses. Source: InfoTrends 2011
  • 3. Top Trends For This Market
    • Partnering with branded spas to offer onsite services
    • New hire training is important
    • Looking to make more sustainable choices
    • Conferences and convention centers are looking for personalized content packages
    Source: InfoTrends 2011
  • 4. Time: Explain the short turnaround for digital Understanding: Educate them on marketing channels
  • 5. Did you know that the average annual external print spend in the hospitality segment is $33,000? According to InfoTrends… Source: InfoTrends’ Capturing the SMB Communication Services Opportunity 2009
  • 6. So, what are they producing? Hospitality organizations have a wide variety of marketing communications needs. All of these needs provide a tangible opportunity for your company’s services.
    • Print directories
    • E-Mail marketing
    • Signage
    • Point of sale advertising
    • Newspaper advertising
    • Printed direct mail
  • 7. Bringing More Value One way to differentiate your company is to provide unique materials that enable higher value printed products to be created. Mohawk Bravo Digital Substrates can help you provide this value to your hospitality customers.
  • 8. Pinehurst Golf Academy: “ Driving” response rates. Pun intended.
  • 9. Campaign Results
    • Attracted 50+ more attendees for golf school than the year before
    • Direct mail response
      • 11.3% visit rate – recipients went to Personalized URL’s
      • 9.9% of visitors completed golf self assessment survey
    • Social media response
      • 2,500 visitors to campaign landing page
      • 26% of visitors completed golf self assessment survey
    Source: PODi.org
  • 10. Why You Should Consider Pursuing this Market The hospitality market provides many revenue opportunities for you as a print service provider. The opportunities include these key products and services:
    • Campaign management
    • Database management
    • Data-driven personalization
    • Cross media services
    • High-quality digital print
    • Mailing & Fulfillment
  • 11. Mohawk MakeReady provides practical tools and actionable information for digital printers like you. We can help… Visit: www.MohawkMakeReady.com for more tools, to request a meeting, or to join the community.