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HomeAway Vacation Rental Seminar - Loyalty Marketing

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Presented November 14, 2013 by Robert Gray at the San Diego HomeAway Software for Professionals Vacation Rental Breakfast Seminar. Presentation reviews the basics on 'Loyalty Marketing' and how …

Presented November 14, 2013 by Robert Gray at the San Diego HomeAway Software for Professionals Vacation Rental Breakfast Seminar. Presentation reviews the basics on 'Loyalty Marketing' and how Vacation Rental Managers can participate in a program.

Published in: Travel, Business, Technology

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  • 1. Loyalty Marketing For Vacation Rental Managers HomeAway Breakfast Seminar San Diego – November 2013
  • 2. 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
  • 3. Overview • • • • • • Loyalty Marketing Overview Communications Exclusivity Rewards/Perks Putting it All Together Q&A
  • 4. LOYALTY loy·al·ty Is expressed when a customer chooses your product when other options are mostly equal.
  • 5. What is LOYALTY MARKETING? “The effort to identify, maintain and increase the yield of best customers through longterm, interactive, value added relationships.” - Colloquy
  • 6. 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
  • 7. EXAMPLES of Loyalty Marketing
  • 8. 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?
  • 9. Your VALUE Proposition ‘The promise you are making in exchange for something of fair value’
  • 10. What Do You Want? ① Data ① Advocacy ① Dialogue ① Sales
  • 11. 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 ✔
  • 12. 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
  • 13. Communications • Automated Emails – Use automated emails reminding them of your value at select times – Use ‘your’ personality in automated emails
  • 14. Communications • Text Messaging – Must Opt In – Use Sparingly
  • 15. 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’
  • 16. Rewards/Perks • Soft Benefits – Early Ck-in – Late Ck-out – Free linen • Hard Benefits – Free Stays – Prizes – Discounts
  • 17. Rewards/Perks • Turn Points into a commodity – Give points instead of refunds or discounts
  • 18. 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
  • 19. Coming Spring 2014
  • 20. Guest Loyalty, Retention and Optional Rewards Tools and Consultation Member Set Up and Management Console Exclusive Vacation Planning Tools For Members Multiple Communications Tools Optional Rewards Program
  • 21. Visual Data Systems 20 years serving the Vacation Rental Community with Web Design, Online Marketing Solutions, & Reservation System Integration. Robert Gray, VP – Vacation Rentals 410-964-8665 ext.:234 robertg@vdsys.com www.GuestAdVantage.com http://www.slideshare.net/VisualDataSystems www.vdsys.com info@vdsys.com