Advertise Hotel Online With Best Pricing Models
Hotel Advertising is not as easy as it looks like. Every hotel pretends to be the best and persuade potential guests with attractive websites, good reviews, catchy advertising and more. When every business of the same genre is doing the exact same thing, it becomes an ideal example of a perfect competition market and the challenge to tell your prospect guests- “You are the best” becomes the main task. Most of the hotels are focusing on online advertising but a very really understand its pricing elements and how to do it efficiently.
Let’s understand the best pricing methods in Online Advertising and figure out how it can be beneficial to know this while you plan an advertising campaign for your hotel.
CPM - The pricing strategy CPM stands for Cost per thousand miles or cost per thousand impressions. In advertising, impressions refer to the number of times the particular page is located and loaded. The CPM method facilitates the pricing on the basis of times the ad was watched. It is good for segmented targeting where the intended advertising aims to cover a small group of people.
CPA - The pricing method CPA stands for Cost per acquisition or cost per action. In this strategy, the advertiser pays for a specific action taken by the target customer. You can say if the traveler watches your advertisement and book the hotel, the payment of advertising will be made for you, but before taking considerable actions, advertisers don’t need to spend money on factors like impression, reach, frequency.
CPC - The pricing method CPC stands for Cost per click. This strategy for online advertising is beneficial to drive traffic to the hotel website. Advertisers pay each time a link to their site is clicked. This model is very popular among OTA advertisers who aim in the price-sensitive category of prospect guests. In this method, advertisers need to set and customize bids to achieve high page rankings
Well, this is just an introduction and curious hospitality enthusiasts can always hunt for more detailed information. We understand, marketing is not a core business of the hospitality industry and that’s why we are here. At Woodstock Digital, we understand the marketing aspects and hotel needs. We are a perfect niche digital marketing partner for hotels/health clubs/spas and more. Feel free to connect to us and we assure you quality digital marketing campaigns and can provide you a lot more services.