Courtesy of John Faheed and Hotel Interactive I've found my new favorite New Year's Eve resolution: Measure or DIE!
This guys so totally gets it:
On the whole, the hospitality industry has yet to resolve John Wanamaker’s century-old dilemma – “Half the money I spend on advertising is wasted; the trouble is, I don't know which half,”, but the time has come. It’s no secret that waste and inefficiency in hospitality marketing has traditionally been significant, but now there are no excuses. All the tools necessary to answer Wannamaker’s age-old problem are here today, if we will take the time to use them. We have dedicated toll free numbers, URL’s and e-mail addresses; the ability to measure Web traffic and click throughs; sophisticated online reservation systems; and traditional tools such as business reply cards, press clipping services and even our own reservationists. It’s time that every one of our marketing vehicles is assigned a measurement tool. Otherwise, how can we quantify and qualify what we’re doing? How do we determine cost per lead, cost per sale or capture promotional program performance? Without measurement, there is no ROI. With a planned measurement program we can enjoy the benefit of knowing the ongoing effectiveness of our efforts, have the ability to reallocate dollars to vehicles that are working, thereby spending less while achieving greater results. This ultimately leads to a real competitive advantage. Let’s resolve as an industry to implement planned marketing measurement programs this year.


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