The Guest Life Cycle and Loyalty Marketing

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Information about The Guest Life Cycle and Loyalty Marketing

Published on March 11, 2014

Author: VisualDataSystems



Present by Robert Gray at the March HomeAway Breakfast Seminars (Myrtle Beach, Wilmington, Pigeon Forge and Asheville) this presentation discusses how loyalty marketing encompasses the entire guest life cycle and how vacation rental managers should enlarge their sphere of influence in loyalty marketing.

Life Cycle and Loyalty Management HomeAway Breakfast Seminar Spring 2014

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

Overview • Loyalty and Loyalty Marketing • The Guest Life Cycle • Expand Your Sphere of Influence • Building Loyalty • Shameless Product Plug • Q&A

LOYALTY loy·al·ty Is expressed when a customer chooses your product when other options are mostly equal.

What is LOYALTY MARKETING? “The effort to identify, maintain and increase the yield of best customers through long- term, interactive, value added relationships.” - Colloquy

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

The Loyalty Marketing Goal…

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? (Hint: for every 5% increase in repeat guests, you could reduce marketing costs by 7- 8%, all things remaining equal)

Traditional Vacationer Life Cycle Depart Stay Organizing Decision Planning Shopper

Change The Life Cycle Funnel • Remove Shopping • We don’t want the guest to resort to Google for the next vacation • Add in RETURN • The goal is to get them back in the funnel albeit at a different starting point.

New Vacationer Life Cycle Formal Loyalty Marketing Return Depart Stay Organize Book Vacation Plan Vacation

Who should we market to?

Lease Holder Pet Fee $ How You Currently Perceive Your Vacationers

2014 Leader Pet Fee $Influencer 2015 Leader Review Writer Wallet Catalyst How You SHOULD Perceive Your Vacationers

How to build Loyalty with Bob and his family • Include ALL • Communicate with Bob and others they way they want to be communicated with AND with the information they want. • Ask them how, when and what • Provide something of value in return for this information. • Exclusivity • Provide them with the tools they need to plan and execute a vacation • Remain in contact with them • Do not break your promise

How to build Loyalty with Bob and his family • Plan: Bob will return to your site in lieu of searching • Book: Bob will move directly into the booking process. • Organize: Bob and his group will have all the tools at hand to organize their trip without resorting to third party sites. • Stay: They will use your branded site during their vacation. • Depart: You will communicate with them at departure and they will welcome the communication • Return: As loyalty increases so does the possibility of return.

Coming April 2014

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

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

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