Welcome to Boostly Podcast Season 10 Episode 3. This is a recap of my Facebook live video where I talked about ways to generate revenue during lockdowns or government restrictions.
Here's the audio for this episode:
Here's the video for this episode:
Timestamp
02:00 How to generate income in these crazy times
03:30 Alternative listing sites
05:20 Keyworkers
07:10 Subscription services
09:40 Update your PMS and website
11:40 Start emailing
13:00 Gift vouchers
14:30 Share your story
16:10 Pivot
18:20 Georgina Bearman's story
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Transcript from the Episode
A lot of the ways that you can generate income in these crazy times is the playbook that we had back maybe in March or April but a lot of it is is new as well and this is something that you can utilize all over the world. This isn't just UK specific or Spain specific or Australia or America this is this is everywhere.
Focus on alternative listing sites to generate revenue
We're going to focus on alternative listing sites. Something as you may feel relevant as something like an alternative listing site has generated direct bookings for a Boostly Academy member and generated a lot of inquiries. All the members of the academy saw it and it is helping others get bookings and generate and inquiries as well.
Some are based in places with some of the strictest rules right now in the United Kingdom. But they have been able to generate bookings, doesn't matter on what stage of the lockdown it may be.
Focus on Keyworkers
Key workers, hospital staff, truck drivers, you know, key workers fall into so many different categories, it isn't just NHS staff. But even with the big restrictions, right now, people are still able to travel for work, that's one of the stipulations and, and again, that the contractor, the worker market, the key worker market, they still need accommodation, even though all the big media buzz around keyworkers has sort of died down a lot.
So if you are really in need of generating some income for your properties, if you've got rooms or properties that are empty, maybe go back to those contacts that you will have made back in March and April in May with the local NHS with a local hospital, maybe start posting on local Facebook groups that, that you can take accommodation. you're looking for, you know, to house key workers, which again, everything that so many people were doing back in March and April, we're looking at these platforms.
So again, trying and see if you can do so and if you had people stayed with you back in the past that were key workers or, you know, contractors, business people, then one of the simplest things you can do right now is pick up the phone, or send a personal email or a text message to them and ask if they're needed to come back into the area to say that you've got availability, would you need to come back and stay over again.
Explore Subscription services for additional revenue
I've been paying massive attention to what the big chains are going to be doing, going into 2021 and beyond. And what quite a few of these big chains are doing is they're starting to offer subscription services. So basically you just pay a monthly recurring fee, and you can utilize and use any of their units on their portfolio.
Now, I'm not saying that you need to join one of these chains Far from it. But what can you be doing here that and seeing what these big guys are doing? And how can we mimic it into our businesses? Well, number one, are you part of a group or an organization? Or do you just know a large number of people that you could start up something similar? So you could start off a subscription service where they would pay X amount and then you would just share the bookings or the availability? Or if that sounds too complicated to you? Could you start up something for your superfans your VIP, so those guests that come year after year after year, the large group of a mob as some people that always like your Facebook posts are always engaged on your Instagram or replying to every email. Those are your superfans.
Could you create something that would be beneficial to them. So for example, if you are a fantastic chef, if you've got a recipe book that, that you put out, and you know, people have taken your recipes home and they have loved them, could you start up a subscription service, and just do zooms or private coaching or whatever it would be group coaching, and start up a subscription service where every month for say 4.99 or 5.99, or 3.99, or 6.99, or whatever you want it to be, people would join us for tuition service, and you will be able to serve on the recipes that you're doing.
Now, one person paying 6.99 may not sound appealable to you, especially when you compare it to what you could be doing with bookings. But if you can get 10 people or 20 people or 100 people or 1000 people to join, then that is going to be monthly recurring income coming in, even if you can't take physical guests inside your properties.
So even if you're not the most amazing chef, even if you haven't got a large portfolio of people that you can rely on and this could be something else because there's a niche, and there's a potential for everything right now and especially if you can relate it to the people that already staying with, you know, like trust and love you What could you be doing?
Update your PMS and website
So because the hospitality industry has been absolutely just screwed over, over the course of all of this There are now grants and things being put in place to help and support. So could you be using this downtime? Could you be using this this real quiet time now to find out about those local grants that are in your area? And can you put them into practice? So can you put them in by updating your website? Can you book in a photoshoot a virtual tour? Could you get digital guidebooks? Could you get tablets?
What can you be doing to make sure that when we are back to some form of normality, where you can be taking guests a bit more regular? What can you do now to make sure that your systems and your structure and everything is set up so your life is so much easier?
Try and think back to October 2019. And you're getting to the end of the busy season and you're just I'm just so busy. I'm so busy, I haven't got the time to do X Y Zed. But one thing that I have noticed specifically with Boostly website, you know we do web design for people is that we have never been busier.
Because even with lockdowns and quarantines, and all of those things that hosts around the world are starting to Now pay attention to this kind of thing to make sure that they are set for at least the next few years when coming out of these periods is that they're ready to take bookings with a property management software, PMS, or proper website are all of the things in it, where if they do a bit of research and look into grants, then again, it may be a case of where it can be free money, it could be the money is there, it's just you've not looked for it.
So just go start by asking local Facebook groups maybe call the local council, call your local grant hub, wherever that may be, wherever in the world that may be, there may be some funding for you. But utilize this time wisely.
Start emailing
Perfect time to do so your guests wants to hear from you. There's been all of the sentiment studies and I spoke about it all year. And you know, we've looked at them all we've done it, we've seen the ones that few have done that skift have done and other people have done the PMS software's and whatnot, people want to hear from you don't just think that emailing is a scammy, or a scummy thing, people want to hear from you.
So why not utilize it. So go for your email list. If you've got an email list, if you've not created one, put a post on social media saying we're looking to start up emailing to give everybody the latest updates, share stories, share pictures from our business, etc. Who would like to join it and then go to MailChimp, it's free, send Fox, it's free, you can get started really simple, you can get started in five to 10 minutes, and you can stay in it.
And those of you that are emailing and those of you who keep doing it consistently, then you're staying top of mind. So when you are able to take guests and say somebody is in their office, or they're just on a Facebook group, obviously a recommendation and say, Can somebody please help me find accommodation in X, I'm looking to go visit for work or pleasure or whatever, then you're top of mind.
So even if the person who's getting emailed isn't gonna book with you, you're the top of the mind recommendation is so powerful email and it is also free, which is also a bonus.
Offer Gift vouchers for additional revenue
We are coming to that sort of time of the year. And especially with people not being able to physically book for right now. But people want birthday presents ideas, they want gifts, you know, they want to be able to buy something for somebody that they know that they will like, and what better than an online gift card that they could purchase for your property to stay with you.
And again, there are some PMS, there are some property management software's that offer this built-in. But there's so many of it done. So for those that don't go check out Dan van,
If you can do that now takes maybe a couple of hours to do. But once it's set up, it's set up for life, you can integrate it with stripe, you can integrate it with all the payment channels, it's really easy to do. And again, you can then put this on your website, you can have a direct link. It's really super simple. And again, you can email out but you're offering gift vouchers.
So again, utilize this time wisely. And even if you can't take guests right now, create the gift card, put the offer out via email or on your socials. And let's see what comes in.
Share your story
People want to hear from you. These channels that we are chatting on Facebook, LinkedIn, Instagram, Tik, Tok, Twitter, wherever you want to be prevalent or present. They are free to post I don't charge you to post so take one advantage of it, tell your story, go live on Facebook, go live on Instagram, share the view share the latest offerings that you have talked about the business why you got started in hospitality, again, people buy from people. And those that have a very high rate of direct bookings, those that build that brand online, share their story, share their business share their lives. And this is a perfect time to do so because people are wanting to find out more about you.
The problem is, is that we're afraid, we're afraid what people are going to think we're afraid what's gonna happen. The proof is in the pudding. And those that do are the ones that get rewarded with bookings, they were rewarded with online visibility because they stick their neck out. And they do something that so many of us aren't. And I can look back at members of the Boostly Academy, members of the hospitality community, people that I send emails to, I can look back, and I can see on my feet, those who are being comfortable about being uncomfortable and doing things like this, they are the ones that are being rewarded, because they are going live sharing their story. And they're building that online brand with their business and building a loyal fan base. So use this time wisely.
Pivot your business for more revenue
I guarantee that so far Bed and Breakfast owners will be looking at this going well, I can't do any of that. There's no such word as kind of, you know, you can do some about it. So if you look at the news, and you look and see what people have been doing, there are pubs that are out there that pivoting there are Bed and Breakfast that are pivoting and so people are able to offer out their rooms or their area as a workspace.
So many companies now are having to make sure that their staff work from home. But because people have been stuck in their homes for so long, and they may have distractions, as in pets, partners, kids, traffic, roadwork, you name it, they just think I just got to get somewhere and if you can offer a quick Wi-Fi, where they don't have to worry about all the other things. And you can offer that space for a couple of hours or a week or whatever, then that could be an option.
And who knows, they may be able to get it where their work pays for it. Or if they're, you know, self-employed, the neck can be using it maybe through funding or whatever. But you just got to put it out there.
If you are going to offer this then you know do a per room for a very quick photo shoot. You don't have to do anything fancy. You can get your phone and take these pictures if you've got a good phone camera. And then you can start to put that out on listing sites, you can start to put that out on Facebook groups, you can go and find these business Facebook groups and people will be there, start talking about it online. You can ever do a room or workspace or whatever.
It is proven to be really profitable people that have got units and they've got doors and do the rental arbitrage over there. They are getting people who are working because they don't have that distraction. So see what you can do on that.
Georgina Bearman's story
I just want to leave you with a story of Georgina Bearman, those of you that have been on this podcast and regular listeners if you're part of Team Boostly you will know who Georgina is. But again COVID in March and April destroyed her bookings. But she didn't soak she didn't whine or complain and go into Facebook groups and do all the things. She got on with it.
And she started doing food delivery in a very close area started with breakfasts, and then it grew and grew and, and grow to afternoon teas. So again, it's when you can't take guests, utilise what you have, and take advantage of it.
And again, if you're a good chef, people like your food and you can do afternoon teas and things like that utilize that. If you've got something else you can do utilize that. But there are lots of different things that you can be doing right now to be generating income for you for your business for your family. You just got to start thinking outside of the box.
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