Intent Media has produced an e-book listing the “top five myths in travel marketing”.
The digital advertising solutions firm seeks to let readers know the most commonly held misconceptions that cost travel brands millions in lost revenue each year.
“We work with travel sites all over the world, and tend to hear the same line of questions regardless of region or size,” said Nick Morley, managing director, EMEA.
“We’ve written this e-book to help answer those questions, dispelling the most common misconceptions we hear about how to deal with changing consumer behaviour, predictive analytics, competitive advertising, cannibalisation and more.”
The myths according to Intent Media
Cross-shopping is a bad thing:
Cross-shopping is actually only a threat when success is measured by conversions alone.
“Users come to travel sites for different reasons at different times. Savvy travel brands have shifted their focus from bookings to broader metrics like revenue per search and revenue per user – metrics that recognize today’s consumer realities,” reads the report.
“Fragmented shopping is a reality – and an opportunity. Capitalise on your customer’s shopping habits with ads that intelligently support cross-shopping.”
Online media is an ancillary business:
Travel brands “leave more than $2 billion on the table” each year when they don’t take advantage of a media opportunity.
“Taking a transaction-only approach to your business and your site ignores the reality of the current travel market and limits your revenue potential,” reads the report.
“In short, a media strategy can and should be a core part of any travel brand’s business. Give media its proper focus – when executed correctly, it can transform your P&L.”
The risk of cannibalisation can’t be managed:
With intelligent segmentation, travel brands can preserve transaction profits while growing media revenue.
“The impact of a lost booking is greater than it appears,” reads the report.
“At Intent Media we know from years of experience that not all users are created equal.
“A site’s highest value users – those who are most likely to convert – are also more likely to book higher value trips and come back to book again in the future.
“These visitors can be worth more than 10 times the value of an average visitor over their lifetime.
“Segment your audience and mitigate risk by delivering media only when it makes sense for your bottom line.”
Customised media strategies aren’t worth the effort:
Travel brands must customise the way media is integrated into their sites – the way ads are triggered, delivered and designed.
The report reads: “Travel brands must customise the way media is integrated into their sites, the way ads are triggered, delivered and designed.
“It’s one thing to simply plug and play travel display ads into your site, it’s quite another to deliver native ads that feel like useful functionality only in the moments when it’s beneficial, and not distraction.
“This customisation is what drives long-term profitability and brand strength.”
What works today will work tomorrow:
Keeping up with new technology, formats, protocols and standards can be daunting – partnerships will be required for long-term success.
“To stay ahead, work with partners who are focused on innovative and sustainable media strategies,” reads the report.”
Download the report here