Monitor Brand Values in Hospitality for Better Results
A strong brand is crucial for attracting and retaining customers in the competitive hospitality industry. Your brand is more than just a logo or a tagline; it’s the essence of your business, and it sets you apart from your competitors. One key aspect of building a strong brand is defining your brand values. These guiding principles define your business and reflect your position on wider social issues. Understanding your values will make your customers more likely to choose your business over others.
In this article, we’ll explore why defining your brand values is essential for success in the hospitality industry.
As MediaCom found in their study,
40% of customers have abandoned a brand because of poor values.
This is a huge potential loss to a business and highlights just how important your brand values are. Your brand values are the foundation on which your brand is built. A well-defined brand strategy can help you stand out in the competitive hospitality industry.
Why Branding Matters in Hospitality
When guests walk through the doors of a hotel or restaurant, they aren’t just looking for a place to eat or sleep; they’re looking for an experience. They want to feel welcomed and comfortable, and most importantly, they want to trust that they will receive excellent service.
But how do they choose where to go? This is where effective branding comes in.
In the words of branding expert Marty Neumeier
“A brand is not what you say it is, it’s what they say it is.”
Your brand is guests’ first impression of your business, and it’s what they’ll use to decide whether to choose you or your competitor.
A strong brand communicates your unique values, personality, and story to potential guests. It helps to create a lasting impression and fosters brand loyalty, even after the guest has left.
What Values Do Hospitality Consumers Look For?
Hospitality consumers are seeking consistency and a positive experience across all touchpoints. This is where brand values come into play. Brand values encompass everything from social media conduct to ethical values and environmental impact. Quality, reliability, understanding, honesty, transparency, social responsibility, and integrity are all important values that should be reflected in the business as a whole. By embodying these values, businesses can create trust, loyalty, and advocacy among their consumers.
Quality and Reliability
Regarding hospitality, consumers want to ensure they get their money’s worth. They look for quality products and reliable service that they can count on. With so many options available, having a 4-star+ reputation is important for standing out from the crowd.
Honesty and Transparency
Trust is the foundation of any successful relationship, and hospitality is no exception. Customers want to know that they can trust your brand, from your promises about your products to how you run your business. Being transparent and honest is crucial in building this trust.
Social Responsibility
Social responsibility and environmental impact are increasingly important to consumers. According to a survey of 2,000 consumers
63% believe brands should give back to society, and 80% state they must take steps to minimise environmental impact.
As a business in the hospitality industry, it is important to be aware of these expectations and take action to make a measurable impact. However, with 65% of consumers believing that brands overstate their environmental credentials, it is important to act with integrity and follow through on any claims made regarding social and environmental activities.
By embodying these values throughout the entire organisation, businesses can create trust, loyalty, and advocacy among their consumers, ultimately leading to long-term success.
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Take-Aways
When it comes to branding, consistency is perhaps the most important value to consider. It may not be the most important value to customers, but it is fundamental to the success of your venture. Businesses face a communication crisis, with consumers demanding engagement on all channels and platforms. Providing relevant information through the web, social media, print, newsletters, and other platforms is essential.
When people know what to expect from your business, they are more likely to feel connected to your brand and become advocates for it.
A consistent image and message help consumers recall and connect with your brand, and repeated exposure to the brand builds trust. Maintaining a consistent brand takes time, but it is essential to building a strong reputation and identity.
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