Maximize your Sales Collateral
Recently I was asked to speak at a women’s conference, at the end of my session I could present my ‘offer’. But I was asked, what type of discount are you giving our attendees? Discount, I thought, hmm well, I don’t discount my rates. “Rather than discount”, I said, “I include bonuses, aka added value.”
It’s an old sales story, but lowering your rates will not sell more product. Reducing rates is simply a lazy form of marketing. It’s generally the first thought when sales are low; after-all, it takes very little thought and certainly very little effort. It’s simple sales economics; lower rates have never created product demand.
Sure, initially you may grab a few sales but in the long run, it will be a disservice to you and others and discounting rarely sells enough product to offset revenue lost due to lowered rates. People don’t buy price; they buy value. Do not reduce rates; add value.
But you say, my product already contains plenty of value, how can I possibly add more? Ok that’s a fair enough question let’s take a look at it as it relates to hotel and/or destination sales. First, adding value is the key to increasing sales. The obvious tactic is to create and promote special packages to accomplish this. Packaging allows you to mask actual rates with benefits for bringing a group to your location. But, that’s been done a thousand times; this is no time for shortcuts. It’s time to get creative!
A not so obvious approach is to share ideas and photos highlighting a unique use of space. Consider hiring an event designer and a photographer and take the time to look at your property through fresh eyes. Invent some ‘signature looks’ exclusive to your property. Share photos of different set-ups, both meeting and event, for your pre-function and function space.
In the case of a destination, create some ‘signature experiences’; these can be anything from activities, cuisine or music that is unique or indicative of the area. Think in terms of what makes this experience unique to your destination. If the answer is not so obvious, then ask others what they find so special about the area. In Newport Beach, CA, for example, guests often take comfortably quiet electric boats to group friendly restaurants lining the harbor. Or planners have turned to electric Pedego bikes as a fun transfer from hotel to event space, much like locals would do.
Value-added marketing and proper positioning can elevate your property within the marketplace. If you believe your location deserves to be recognized as a leader, then position it that way.
Take a serious look at your collateral. Is it interesting, eye-catching? Does it need an overhaul? Could it use fresh images or stand out graphics? What seems to be working and what doesn’t and why? Would you read it? Facts are important but visuals command attention, do you have enough? Are they interesting or pretty generic looking? Do they seem to be copying everyone else in your space? Differentiating yourself from the competition takes far more than words especially in today’s highly visual tech world.
If your shaking your head and thinking ugh oh we need a bit of help, it may be time to add video to your collateral. While images speak volumes, video speaks louder! Incorporating video into your marketing materials allows you to truly capture the spirit of your location helping to boost its appeal.
In the end, lowering your rates simply devalue your product. “You get what you pay for” is very much alive and well.
Looking for a fantastic coastal location offering plenty of value for groups, connect with Visit Newport Beach, the destination marketing organization for Newport Beach, CA. Visit Newport Beach opens the doors to this Pacific paradise with destination expertise, customized site visits, strong partnerships and resources that ease the planning process. Check out all that Newport Beach has in store for your group; we’ll keep the sun shining just for you!