Reduce cost per booking by 50% with smart media strategies and advanced analytics.
Two of the most critical stats for hotel marketers is how many rooms are booked and at what cost. Get the cost per acquisition (CPA) of booking a room down to a healthy level, and the marketing effort is deemed a success. If the CPA is too high, however, marketing becomes unjustifiable.
By honing in on audience segments from a lifestyle and interest perspective, our Morgan & Co. team was recently able to pinpoint how best to connect with travelers for New Orleans’ iconic Hotel Monteleone. From there, we defined a clear media strategy, determining which media vehicles had the capacity to get the hotel’s brand in front of the right customers.
A critical part of the strategy was a system of analytics that allowed for a clear view of campaign performance – landing page visits, bookings and most importantly, the cost per booking. With this view of performance, Morgan & Co. was able to manage the campaign, shifting media investment to the most advantageous aspects of the campaign.
The result was a 50% reduction (year over year) in cost per acquisition (a room booked during the summer travel months, which tends to be slower for the New Orleans hospitality industry).
Get a glimpse of the campaign in our Hotel Monteleone Case Study.