Tag Archives: revenue

How To Increase Your Revenue and Improve Your Results

Inside of cabin with brown wrap around coach, stone by wood burning fireplace

 

 

Do you know what your ideal guests want? Who are you trying to attract to stay at your inn? The more you understand about who you want to serve, the better you become at meeting their specific needs.

Know What Your Guests Love About You and Your Inn

Are you getting their attention with the headlines you use? What do you receive the most compliments about from your guests? Be sure to feature what you know guests love.

The Benefits Of Frequent Guests and Guest Referrals

It is much easier to host returning guests than to find new guests. Do you offer incentives for frequent stays? Do you reward guests who refer you new business? This could be complimentary room upgrades and other incentives.

There Are Other Ways To Earn Money (Besides Overnight Stays)

Do you offer more than just the option of staying overnight? There are other ways of earning additional money. Why limit your hospitality earning potential?

Earn More By Offering Related Guest Products

You can offer additional related products and services to “up-sell” your guests. Of course, they have to really want what you offer. The best way to know what your guests want, is to ask them directly!

Increase Your Income With Guest Packages

Be sure to show professional pictures of each item for sale or that comes as part of a package. Guest packages can be centered around activities, specific themes, special occasions, and the four seasons. Think about what your guests like to do and the common reasons for their visit.

Host Events and Groups To Boost Your Earnings

You can also host private events and groups. Do you have enough space to host weddings and/or private local groups? The more details you can provide, the more inquiries you will receive.

Most People Buy Based Upon Their Emotions (Not Logic)

Do you tap into their fear of missing out? Most people making purchasing decisions based on their emotions. Expiration dates motivate!

Share Content That People Can Connect With

Do you provide them with enough content (blog posts, emails, website information, social media) to convince them that your place is the next place they want to visit? Share inspiring stories.

Prominently Feature Your Guest Testimonials

Do you feature guest testimonials on your website and in your social media? People put more stock into what previous guests say about you than what you say about you. That is why online review sites are so popular.

In Summary

The more of these suggestions you implement, the greater your odds of hospitality success. You can become the go-to accommodations in your local area.

Image by Marcus Berg of Unique Angles Photography

How Bed and Breakfasts Can Win Like Amazon

Amazon Prime logo

Think about how your inn can win like Amazon and uniquely excel in hospitality, cuisine, and accommodations. Fast Company ranked Amazon the World’s Most Innovative Company in 2017.  Amazon is the largest American e-commerce company.

Founded on July 5 of 1994, Jeff Bezos selected the name Amazon as he looked through the dictionary.  He settled on “Amazon” because it was a place that was “exotic and different” just as he envisioned for his Internet enterprise.  Bed and breakfasts should each strive to be different and stand out in a unique and impressive way.

Bezos also noted that the Amazon river was by far the “largest” river in the world and he planned to make his store the largest in the world.  Amazon, as a company, has achieved enormous success. Back in 1996, Amazon was only a $16 million company while Barnes and Noble was at the time a gigantic $2 billion company.  However, Amazon was the fastest company to reach one billion in sales. In 2016, Amazon’s revenue was $136 billion United States dollars while Barnes and Noble increased to a significantly smaller $4.16 billion.

How did Amazon do it?  Amazon set goals to create something superior and completely new.  Jeff Bezos, who continues to record ideas as he thinks of them, made a list of 20 possible categories for his business and then decided that his best option was to start with books.  Years later Amazon would become one of the world’s best known companies and be referred to as “the everything store.”

While publishers complained when Amazon let its users publish book reviews (showing both the positive and negative comments), Jeff Bezos stated, “We make money when we help customers make purchase decisions.”  To him, it was so people could make informed choices.  The user-generated content did give Amazon viewers an extra reason to visit their website: actual buyers of books were giving their honest opinions.  Now consumers can leave written evaluations of any of Amazon’s products.  Bed and breakfasts would do well to encourage their happy guests to leave reviews as well.

Amazon strives for continuous improvement and efficiency.  While you may be satisfied with the size of your business, there are always things innkeepers can do to make more money with each guest who visits.  Whether through added packages, special retreats, retail merchandise, or other extras, make it a goal to win like Amazon by gaining more business from every customer (guest) who contacts your inn.

Names are so important for both people and places. Names help define people and brands. One of the most successful brands is Amazon.  Bed and breakfasts can look to Amazon for its success as a brand and its successful brand name.

Since June 19, 2000, Amazon’s logotype has featured a curved arrow leading from A to Z, representing that the company carries every product from A to Z, with the arrow shaped like a smile.  A good bed and breakfast logo can appear on merchandise you sell like coffee mugs, cookbooks, and aprons.

Amazon carefully selects who they hire to join the company.  According to Amazon, they hire only the best and the brightest.  Some interview questions have been known to catch people off guard like, “Do you know why manhole covers are round?”  This is to judge the reasoning skills of interviewees as much as it is assess their intelligence.  This sets a high bar for the talent they hire.

While they have had some personnel issues as far as people electing to leave the company, many employees have done very well for themselves by staying.  Bed and breakfasts can win like Amazon by being selective when hiring more staff members.

One of Amazon’s core values is innovation.  They remain on the cutting edge of technology with their products and services.  As a company they love inventing things.  They are not held back by conventional thinking. They will quickly abandon old notions and embrace new ones when better options present themselves.  Likewise, innkeepers should stay on the cutting edge with their online marketing, reservation software, and so forth.

Amazon is known for their excellent customer service. They offer a generous 30-day return policy. They are resolved to offer the lowest prices anywhere.  Amazon has expanded not only the types of merchandise it sells, but also the programs it offers.

With a focus on long-term customer loyalty, those who are Amazon Prime members get several perks including free shipping.  Bed and breakfasts can win like Amazon by rewarding returning guests and guests who make referrals.

Amazon is obsessed with customer satisfaction.  This online giant offers a personalized version of their website and gives recommendations to each shopper based on their previous searches and purchases. Amazon’s wide selection, low prices, and excellent customer service is remaking industries.

Through strategic marketing, including blogging, social media, and phone conversations, bed and breakfast guests can win like Amazon by persuading guests to spend more money during their visits on custom packages and other options.

Amazon arguably has the most authoritative online product catalog.  To make it easier for customers to learn more about the products on Amazon, they offer the following lists and tools:

  • Amazon Bestseller Lists
  • Amazon Sales Rank
  • Amazon Wishlists
  • Amazon Look Inside The Book
  • Amazon Search Inside The Book

Amazon’s overarching goal is to be the first place people look to buy anything. Amazon is also referred to as the “unstore.”  According to Bezos, Amazon is not bound by the traditional rules of retail. This is a list of some of Amazon’s products and services:

Perhaps having a company name beginning with “A” was preferential due to the probability it would occur at the top of any list that was alphabetized.  Does this mean that your bed and breakfast name must start with the letter A?  No, absolutely not.  You can think of a clever and profitable bed and breakfast business name by taking into account: your location, your inn, your decorating theme(s), and so on.

Maybe I should rename my company name from Bed and Breakfast Blogging to something else?  Any suggestions??  Feel free to comment below with positively creative suggestions!

Everybody Writes: Infographics

everybody writes infographic

 

This wraps up our series of posts about Ann Handley, the author of Everybody Writes: Your Go-to Guide to Creating Ridiculously Good Content.  Ann offers practical infographic creating tips that we will illustrate with an excellent bed and breakfast industry infographic.

 

But first, just what is an “infographic”?  Infographics are expressed graphically via drawings, pictures, maps, diagrams, charts, and more and are all held together with a coherent visual theme and typically published as an image file.

According to Ann Handley, the best infographics express rich objective data in a more accessible and engaging way:

  • Checklist or resource
  • Compare and contrast study
  • Evolution of a movement, demographic, or industry
  • Illustration of the state of some business sector or function

Have the following characteristics:

  • Utility: entertaining, educational, intrinsically useful, applicable to your audience
  • Data: based on facts (not opinions); uses credible data and credible sources
  • Story: have a hypothesis and a narrative at their core
  • Logical sequence: organize your information so that it flows logically; the images and text need to make sense together
  • Great design: color, typography, illustrations, animation, videos, charts, text
  • Quality control: make sure your infographic is free of errors
  • Promotion: the goal is to drive attention to and interest in your brand
  • Shareable: make your infographics easy to share in social media

The infographic shared in this blog post was produced by Little Hotelier and the Professional Association of Innkeepers International.  First, they share the statistics that the B&B Industry in the United States has an estimated worth of $3.4 billion.  The core of this starts with the estimated 17,000 inns in the United States and then branches out to all of the product and services needed:

  • Real estate
  • Insurance
  • Hospitality
  • Furniture
  • Food and beverage
  • Cleaning
  • Safety
  • Heating
  • Cooling

The median performance:

  • Occupancy rate: 43.7%
  • Average daily rate: $150
  • Revenue per available room: $58

everybody writes infographic

The infographic tells us that the typical inn has between 4 and 11 rooms with 6 being the average number of rooms and the average size is 5700 square feet.

94% have private baths and 93% offer free high speed wireless internet.

Types of inns:

  • Suburban 5%
  • Urban 23%
  • Village 43%
  • Rural locations 29%
  • Historical designation 36%

everybody writes infographic

Their infographic portrays amenities at most inns both in the common areas and in the guest rooms.

Amenities in Common areas:

  • Internet
  • Magazines
  • Hot/cold beverages
  • Board games
  • Fireplace
  • Televisions
  • Refrigerator
  • Newspapers
  • Telephone
  • Cookies, cakes, candies, and fruit
  • Fresh flowers

Amenities in Guest rooms:

  • Internet
  • Magazines
  • Televisions
  • Fireplace
  • Luxury bed linens
  • Robes
  • Premium branded toiletries
  • Jetted tubs

everybody writes infographic

Their infographic ends with a statistic about the inn owners.  The percentage of inn owners that are 72% are couples, 18% are individual females, 5% are individual males, and 5% are non-couple partnerships.  Also it lets us know that 79% of owners live on the premises.

everybody writes infographic

A big thank you to Ann Handley, Little Hotelier, and the Professional Association of Innkeepers International.  If you would like help with your online marketing, please contact us at Bed and Breakfast Blogging.

 

Top Image by Marcus Berg of Unique Angles Photography