Good planning is behind every successful business however the promise of the annual busy season for the hospitality industry sees many businesses rely on tradition and volume of the market for their festive season business. During strong economic times this approach can work however during more uncertain times it is risky to leave such an important period to chance. This festive season write a plan to ensure you maximise opportunities.
To assist with your festive season planning here are 6 steps to a Successful Festive Season Plan.
Step 1 – Know what your competition is up to.
Knowing what your competition has on offer is a valuable tool to use to your advantage.
If your business enjoyed a busy and successful festive season last year you can rest assured your competition will know what you did and how you did it and will be looking to incorporate your winning formula into their planning this year which means that the reason for your success last year may not be as relevant this year.
Be sure to take the time to study your competition and develop a new plan with points of difference for each year. Failing to do this may see you leading the pack one year but trailing the next.
Step 2 – Define your product for this festive season
This year take some time to define your product by asking yourself and researching the following questions:
In past years what went well and what didn’t? – Check surveys and feedback
How long have we been offering this concept, is it time for a change?
What is our competition offering?
What is the state of the market this season (economy)?
What innovative products and/or services could I include this year?
What are the trends in our industry this year? Eg. A more casual approach to dining or increased focus on healthy eating options…
Use this information and research to define your product for this year.
Step 3 – Define your target market
As is the case for any marketing activity defining your target market is an important part of planning and the festive season is no different.
Begin by looking at these points:
Were bookings strong last season and why?
Was last years marketing successful in capturing the target market we were aiming for?
Are previous target groups still purchasing your type of products/services this year and at similar volumes?
Will festive season target markets be different to other periods of the year and why?
Looking at competitors target markets, are there any gaps/opportunities?
Use this information and research to define your target market this year.
Step 4 – Establish your points of difference
Points of difference are the key reasons why guests/customers buy from you and not from your competition. A point of difference must be just that, a reason that is different from competition so using “excellent service” as a point of difference has little marketing capacity as everyone uses that point…
Think outside the square and come up with innovative points of difference that your competition won’t already use to give your target markets a reason to buy from your business.
Step 5 – Market your product
Once the planning is done the next stage is to get your product or message to the market.
Identification of your target market is imperative as it will tell you how you will need to market and where to get access to your target groups. For example if a good proportion of your target market play golf then you are far better to invest a few dollars in advertising in your local golf club newsletter than spending large sums of money in a local newspaper as it is far more targeted. If your target groups are regular users of social networking find out which site/s they use and ensure it forms part of your campaign.
The more you know about your target groups the more targeted your marketing can be, the less your marketing will cost to get your message out and the more effective it will be.
Outline your marketing plan and incorporate an advertising schedule to keep you on track.
Step 6 – Roll out the best festive season ever
With great planning comes lower stress levels and a more organised and enjoyable environment which is good for you, good for your staff, good for your business and good for your guests.
I welcome your comments, feedback and perhaps some ideas that I haven’t included which have worked for you.
Initial Consulting (@initialconsult)
07/11/2011
Hospitality Businesses have a successful and low stress festive season this year.