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Eric Goldreyer
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Pareto's Principle, more commonly known as the 80-20 Rule, suggests that a relatively small number of causes results in a large percentage of the effect. While more of a guideline than an absolute, it can help you achieve your goals by helping you to focus on critical objectives. Apply this rule to your internet marketing efforts to maximize your results.
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Every day you are besieged with offers to list your inn on local, regional, national, and international Internet directories: Where do you list your property? Which ones will bring results? And at what price? If you have unlimited time and funds for Internet marketing, go ahead and sign up for everything. If, like most of the self-employed, you have the freedom to choose which 20 hours a day you'd like to work, it's time for the 80-20 Rule.
Let's say that the top three-to-five Internet directories result in 80 percent of your reservations, and another 20-40 sites produce only 20 percent, but that you spend an equal amount of time keeping all of them up-to-date. Apply the Pareto Principle to improve your results. Instead of wasting valuable time and limited resources on the less productive directories, make sure you're maximizing the sources that produce the greatest number of reservations.
For example, we've found that many members of BedandBreakfast.com could significantly improve their results with the investment of a small amount of time and attention. Nearly all of these membership benefits are absolutely free. Answer yes to all these questions to maximize your membership:
- Are you displaying the maximum number of photos allowed at your level?
- Are the photos attractive and appealing to prospective guests?
- Is your descriptive text clear, concise, and complete?
- Are your email and website links accurate (for Silver members and up)?
- Are you posting specials, last-minute availability, and packages (for Silver members and up)?
- Are you posting recipes?
- Are you participating in our special publicity campaigns?
- Do you accept gift certificates?
- Are you using Featured Property ads to drive traffic to your listing?
You can also use the 80-20 Rule to improve your own home page. Let's say that traffic to 20 percent of your web pages - perhaps the home page and the rooms & rates page -- produces 80 percent of the reservations. Although it's easy to get distracted by the fancy bells and whistles of website design, the productive approach is to make sure your key website pages are quick-loading, easy-to-read and navigate, have great photos, and are up-to-date and accurate. Some website home pages have slow-loading graphic images and music, yet neglect to provide such essential consumer content as telephone numbers and geographic location, and equally vital search engine details as page titles and keywords.
For more information on Pareto, an 19th century Italian economist, read
Pareto's Principle: The 80-20 Rule, an excellent and easy-to-read article by Arthur W. Hafner, Ph.D., M.B.A., Dean University Libraries, Seton Hall University. Dr. Hafner reminds us that this useful tool applies "when there is a question of effectiveness versus diminishing returns on effort, expense, or time." He outlines several practical applications, then recommends a final twist: The 20-20-60 Rule, which goes as follows:
"Twenty percent of most prospects are avid supporters and 20% are avidly not supporters. The persons in these two 20% tails are basically fixed and no amount of persuasion will change their view or attitude. Prospects in the remaining 60% are persons who are interested but need to be convinced or 'sold.' Application of the 20-20-60 Rule means that our outcome is best if we focus on the 60% group by answering their concerns, doubts, and questions. The persons in the 60% group are the ones who most likely will become our clients and customers."
Applying his concept to inngoers, it follows that 20 percent of travelers will always seek out a B&B, and 20 percent avoid them like the plague. Focusing one's efforts on the middle sixty percent is the best investment of limited resources. Promoting your property on a specialized Internet directory like BedandBreakfast.com is an excellent way to reach the 60 percent target group.
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"I was just reading my PAII email regarding gift certificates, when the phone rang. It was none other than a BedandBreakfast.com gift certificate holder. What an easy booking! The certificate was for $50 and I booked $320 of business from of it -- well worth the $5 commission!" Lynn Carlson, 1900 Inn on Montford, Asheville, NC
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Join the 1900 innkeepers across the U.S. who enjoy this risk-free way to increase reservations. Don't forget: the 2000th participating B&B gets a one-year free upgrade to the next level of membership.
Sign up today.
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For your protection, your traffic statistics and member information are shown only in the email we sent you. For more details, please log in with your property ID and password. Can't remember your password? Click here, then enter your property ID and we'll email it to you. Don't like your password? Once you're logged in to Home Base, just click "Change Password" (first item in the left-hand column), and choose another that's easier to remember. More information
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Time to move on? Sell your property by listing it on the leading Internet site for bed and breakfasts and inns, BedandBreakfast.com, visited by thousands of inngoers every day! Read more
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According to results from the 4th annual PhoCusWright Travel Consumer Trends Survey, 21 million Americans "usually" buy their travel online, up 75% from 2000. Nearly 27 million Americans have now bought travel online at least once, up from 21 million last year. Read more
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Our sister company, Munsenware, offers the most popular reservation and guest management software on the market: Guest Tracker.
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