Key is to know where the industry is heading and keep forecasted trends top of mind when considering how to allocate digital marketing dollars
Budgeting for 2021 is a new horizon for us all. Financial planning is not business as usual and crafting the perfect budget is challenging
Zero-based budgeting is a way to deal with instability. It’s a method of budgeting in which all expenses must be justified on each new period
Without justification, budgeting can feel a whole heck of a lot like guessing. Share of voice gives you that much needed justification
There is space right now to create significance as a brand. People are asking for more value driven options, so up to you to give it to them
The budget process is the opportunity to learn about every inch of your hotel. Really examine what’s going on inside all the departments.
The pandemic has thrown off 2020 forecasts and limited usefulness of historical data, setting a budget for 2021 will be a new experience
If you do the marketing budget when you build the marketing plan, you can determine segments with opportunity and create a plan broken down by month that includes events, trends and seasonality.