Marketing Is Brand Building, Not Advertising
As a result of COVID-19, Airbnb had to let go staff and cut down majorly on their advertising spend. While many others in the travel industry continue to suffer badly, Airbnb have benefited from a strong brand & community to guide them back 'in the green'. Over recent years, their main marketing aim was to increase loyalty among both hosts and guests. In 2019, 69% of revenue came from repeat guests. They did this by focusing on the following;
- word of mouth
- organic channels
- search engine marketing
“Approximately 91% of all traffic * to Airbnb came organically through direct or unpaid channels, reflecting the strength of our brand”. Airbnb IPO prospectus
* (September 2019 - 2020)
Why Black Friday Is Bad for Business
Ahead Of The Game
As a small business owner, you're likely trying to keep an eye on what new movements are happening and what's coming down the tracks. You may admit that you've called some 'trends' may be a bit too hastily! To be first out of the blocks is a risk. It may or may not work out! However, as important as being right or wrong, is deciding on which trend you will act on and realising that spotting a trend in your industry is only half the battle.
One trend that has been on agenda for a while now but is sure to get much more attention post-Covid is health. Many businesses agree that health and hygiene concerns will have an impact on their 2021 marketing plans and some are developing a new product offering in response to consumers’ wellbeing needs.
Health and wellness creates opportunities across many industries; from F&B to financial planning to beauty. How may it affect your small business?