HomeAway Vacation Rental Seminar - Loyalty Marketing
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Transcript of HomeAway Vacation Rental Seminar - Loyalty Marketing
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Loyalty Marketing For Vacation Rental Managers
HomeAway Breakfast SeminarSan Diego – November 2013
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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
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Overview
• Loyalty Marketing Overview• Communications• Exclusivity• Rewards/Perks• Putting it All Together• Q&A
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LOYALTY
loy·al·ty
Is expressed when a customer chooses your product when other options are mostly equal.
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What is LOYALTY MARKETING?
“The effort to identify, maintain and increase the yield of best customers through long-term, interactive, value added relationships.”
- Colloquy
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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
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EXAMPLES of Loyalty Marketing
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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?
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Your VALUE Proposition
‘The promise you are
making in exchange for
something of fair value’
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What Do You Want?
① Data
② Advocacy
③ Dialogue
④ Sales
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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
✔
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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
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Communications• Automated Emails
– Use automated emails reminding them of your value at select times
– Use ‘your’ personality in automated emails
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Communications• Text Messaging
– Must Opt In– Use Sparingly
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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’
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Rewards/Perks
• Soft Benefits– Early Ck-in– Late Ck-out– Free linen
• Hard Benefits– Free Stays– Prizes– Discounts
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Rewards/Perks
• Turn Points into a commodity– Give points instead of
refunds or discounts
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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
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ComingSpring 2014
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Guest Loyalty, Retention and Optional Rewards Tools and Consultation
Member Set Up and Management ConsoleExclusive Vacation Planning Tools For MembersMultiple Communications ToolsOptional Rewards Program
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Visual Data Systems20 years serving the Vacation Rental Community with Web Design,
Online Marketing Solutions, & Reservation System Integration.
www.vdsys.com [email protected]
Robert Gray, VP – Vacation Rentals410-964-8665 ext.:[email protected]
www.GuestAdVantage.com
http://www.slideshare.net/VisualDataSystems