It might be hard to imagine now, but there will come a time when the coronavirus pandemic is over. Yes, really! There are already signs that hotel bookings in China are recovering while cruise bookings for 2021 are starting to fill too. It’s a good sign that travellers are looking ahead beyond this pandemic. You need to do the same for your business, too.
Now is the time to start preparing so your business can get ahead. Offering your customers an Early Bird discount is a savvy marketing tool you can use to optimise your recovery and get back on track once things resume to normal.
Early Bird discounting is a powerful marketing tool. It works by offering a discount to people who book and pay early for your product. It is a way to incentivise people to commit early by offering them a discount in exchange.
Why does this work? It is a useful tool for marketing because it benefits both parties. Your clients save money on something that they would otherwise book later. For your business, it guarantees early payment for the booking. It allows you to plan for the future, knowing you have paid bookings lined up.
Why is now a good time to offer discounts?
Given the benefits of Early Bird discounts, there is no better time than now to offer such a discount. Why? Because people who are forced to stay at home are eager to get out of the house and travel. People are also spending a lot more time online. With the promise of eased restrictions, people have already started planning activities for the rest of the year. By offering an Early Bird discount, you can capture their interest and sell them on a bargain deal.
Use this discount as an opportunity to improve your cash flow so that you can prepare for your business’ operations once things are back in full swing. Don’t focus on filling your slots for bookings. Things will rebound when the time is right. Some short term cash flow relief and strong forward bookings will be the key to a good recovery, so you’re not left scrambling when it’s time to resume operations.
Tips for Early Bird discounting success
Done right, Early Bird discounting could help your tourism business recover faster after the pandemic. Here are some tips to keep in mind:
In the end, no one knows your target market better than you do. Dangle a great deal in front of them, and see what happens. You’re already on the right track simply by thinking ahead.
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