YOIN excellent meeting places and Venue Marketing have presented their second edition of the marketing research for the hotel and venue industry. The survey, based on data collected in May and June of 2023, provides valuable insights and comparisons to the previous survey in 2021 and potential opportunities for location entrepreneurs. The research was published today.
Marketing departments take activities in-house
An important finding is that marketing departments at locations are increasingly developing internal competencies to carry out activities themselves. This shows that they invest in a long-term vision and do this with the help of future-proof marketing teams.
Distinctiveness and sustainability as essential values
While quality assurance is still paramount for venues, there has been an increase in the importance of differentiation, reflecting the growing need to be both unique and high-quality. Sustainability is and remains a continuously growing theme and is now an integral part of the brand policy for almost all locations.
Emerging trends in marketing strategies
LinkedIn and Instagram marketing remain popular, while at the same time the desire for authenticity in content marketing is growing significantly. Sustainability and marketing automation are also gaining interest among location entrepreneurs.
Media input is shifting: social media is almost taking the lead
Google Search was once again voted the best media type for making locations visible, with social media still a persistent, strong second. Location websites and news websites continue as important media channels and investments in Google AdWords and re-targeting also remain popular.
Community building and international orientation
The research shows that participation in trade associations, networks and quality brands is increasing, indicating a growing need for collaboration and knowledge sharing. Moreover, location entrepreneurs are showing more interest in the international MICE market than two years ago.
Key customers and consistent marketing KPIs
The most important customers for the industry are still event agencies and direct customers. The primary marketing KPIs also remain consistent and the same as those of 2021.
YOIN excellent meeting places and Venue Marketing are surprised by the results and look forward to future editions of the study to offer even more value to the industry.