Research “drives travel marketing”
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The travel industry leads the way in making marketing decisions based on data and research, according to a new report.
The study of US executives by The Economist’s Intelligence Unit (EIU) with California-based Lyris found 23% of executives used data for product development and to lead their marketing strategy, compared to an 18% average compared to other sectors such as the clothing, automobile, entertainment, media and banking industries.
The report said the industry is starting to gather more personal information about consumers to draw in an online attraction, which fits industry trends and IATA’s plans for the NDC.
Marketing strategies in the travel sector shifted from getting across multiple touch points (from 32.5% to 15%) to deeper data analysis (17.5% to 30%) with 87% citing data as important to business. Repeat customers and the value of the transaction were also deemed important to 85% of respondents.
Emails are said to be the highest channel of influence at the initial purchasing decision (37%) for US travel consumers, although referrals were the largest impact in the final stages (31%). As a result, the top priority amongst executives is to build brand ambassadors.
An excerpt from the report said: “The travel industry has been seriously challenged by disruptive technologies as more and more travel providers deal directly with customers and as services have become commoditised. Although industry executives report relatively high increases in the use of online channels to drive sales (70% vs. all-industry average of 66%), the use of online channels is about average for every other application.”
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