Marketing Audit: It May Not Sound Exciting But It Can Be Crucial For Your Budget

Welcome to another Expert Insights discussion.

Today we are joined by:
🔹 Stephanie Smith
Founder and Digital Matriarch at Cogwheel Marketing (https://bit.ly/3bojfPl)

NB: Cogwheel Marketing are one of our Expert Partners (https://bit.ly/32FLILD)

In this discussion Stephanie outlines why she feels the ideology around the digital marketing budget needs to evolve, rather than asking the question “how much am I going to spend” we should be asking “is what I’m spending in the right place” – and this is where the marketing audit comes in as a first step.

We consider the ‘ecospheres’ in which your hotel exists and moving beyond rate shopping and production reports to look at where your competitors operate in the social media universe – online competitor analysis – which is much more important to hotel marketeers.

Finally, we consider how the marketing audit helps you identify not only what you need to spend and where you need to spend but, more crucially, why you need to spend it – building the business case for owners/investors that provides the confidence there has been some thinking behind the budget numbers rather than a “let’s add 5-10% on last year” mentality

🎞 Here are the video chapters:
00:00 Video Start
01:21 Guest Welcome
03:00 Why is an audit so important
06:00 Problems an audit can identify
07:30 Ecosphere - what are the 4 areas
11:34 Comp set - moving beyond traditional competitor analysis
17:33 Evaluate what your doing well or not doing well
21:19 Surely a 12 month budget is not realistic
28:30 Wrap Up
29:42 Additional Videos and Subscription

Here is the link to the article Stephanie wrote on the topic of Marketing Audit (https://bit.ly/2Var9ag)

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💢 Why Hotel Marketing Needs to Move Beyond ROI and ROAS
https://youtu.be/dtvzuWoNAHo
💢 The Hotel Mindset: Is It More Like Nokia or Apple?
https://youtu.be/5fVhQtOY2z4

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