Marketing Effectiveness Review
Marketing can be a significant business expense in the hospitality sector particularly for those businesses which have adopted a loyalty scheme. It is imperative that this completely discretionary expense is managed within guidelines that provide for objectives and the capacity to measure outcomes. Often the process of examining the effectiveness of this type of expenditure is associated with the management of large volumes of data. We can assist clients by reviewing the data capacity of their business to complete this type of analysis in a cost-effective manner and also identifying the type of analysis that should be undertaken. There must be a clear understanding of what each dollar of expenditure is intended to produce and what it actually does produce.
The meaning of data and comparability to benchmarks is also an essential success factor when examining the effectiveness of marketing. Simply understanding that marketing represents a percentage of turnover and that is within what some describe as an acceptable benchmark may not result in the effective management of this expense. Our expertise can assist clubs and other hospitality providers in challenging and reviewing significant and entirely discretionary cost of business.