booking is the beginning, not the end
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- Wesley Golden
- 5 years ago
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Transcription
1 booking is the beginning, not the end
2 DREAM RESEARCH SHARE COMPARE STAY BOOK
3
4 DREAM RESEARCH SHARE COMPARE STAY BOOK
5 DREAM RESEARCH SHARE COMPARE STAY BOOK
6 No competition - they DREAM ALREADY LOVE YOU Their hearts AND RESEARCH wallets have already SHARE been opened to YOU. You are out gunned everywhere else. COMPARE STAY BOOK
7 MESSAGES: CONTENT CONTAINER WHEN VOLUME REPETITION SIZE / IMPACT
8 advertising expenditures are a little unbelievable
9 MY OFFICE
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11 DREAM RESEARCH SHARE COMPARE STAY BOOK
12 IS THERE A POST BOOKING REVENUE OPPORTUNITY?
13 Guest Revenue With Home-Grown Loyalty Loyalty Members Non Members Average Revenue per stay: 283 Average Rate: Average Length of Stay: 3.64 Average Number of Stays: 2.91 Average Revenue per stay: 306 Average Rate: 134 Average Length of Stay: 2.16 Average Number of Stays: 1.29 Average Total Revenue Per Guest: 825 Average Total Revenue Per Guest: 394 Members pay a liile less per reservajon but stay many more Jmes and have longer stays. The average loyalty member spends $431 more with the brand then non members.
14 On-property activity is direct-correlated Those who booked either Direct or Corporate made 29% more general requests on average than those who booked through OTAs or Tour Operators. 136% more requests on average (almost 3x) And looking at just the menu orders (which are a VERY good proxy for revenue generating requests), those who booked through Direct or Corporate made 3x more orders than those who booked through OTAs or Tour Operators. Thanks to Alice-App for this data!
15 ANCILLARY BUSINESS WITH AIRLINES HAS INCREASED 262% (in the past 5 years) 5.4% 6% 6.7% 7.8%
16 FOCUS ON CONVERSION The average failure rate is around 95-99% for BOOKING ENGINES
17 Abandonment is step-centric, not holistic, so WHERE a customer abandons matters common booking engine phases date rate / room enhancement checkout selection 35% 50% 10% 5% abandonment rate abandonment rate abandonment rate abandonment rate
18 Loyalty vs Non-Loyalty Performance % of Transient Room Nights 2016 Q1 40% 41.1% 30% 58.9% 20% Loyalty Non-Loyalty 10% 0% Brand.com GDS Direct CRO OTA Source: TravelClick Demand360. Top 50 markets worldwide from data participants. Transient reservations = Individual reservations for all channels Q1. 18
19 Loyalty versus Non-Loyalty Share Quarter Comparison Loyalty Non Loyalty 60%. 0% 2014-Q Q Q Q Q Q Q Q Q1 Source: TravelClick Demand360. Top 50 markets worldwide from data participants. Transient reservations = Individual reservations for all channels Q1.
20 Loyalty guest demand increased 2.8% and ADR increased 2.3% compared to a year ago. By comparison, non-loyalty guest demand decreased -5.3% and ADR increased 1.3%
21 So if the stay part of the cycle is really a great opportunity, and new loyalty is my best bet, what does it all mean? What can I include post booking that will maximize this space?
22 DREAM RESEARCH SHARE COMPARE STAY BOOKING
23 recommendations
24 It has been Estimated that around 29% of Amazon s revenue is directly attributable to the recommendation engine. Amazon s recommendation system is based on a number of simple elements: what a user has bought in the past, which items they have in their virtual shopping cart, items they ve rated and liked, and what other customers have viewed and purchased. Amazon calls this homegrown math item-to-item collaborative filtering, and it s used this algorithm to heavily customize the browsing experience for returning customers.
25 palimpsest
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28 share
29 Joint versus Single Travel/Hotel Decision Maker 100 single joint Thailand Phillippines Australia India New Zealand Singapore
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31 Zuckerberg s Rule of Sharing Y = C *2 X Where X is time, Y is what you will be sharing and C is a constant.
32 safety
33 Security takes many forms: physical security risk reduction investment assurance experience assurance tour guides / cruises trip cancellation/mishap insurance
34 access
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36 choice decouple the experience
37 Decoupling the elements of experiences Decoupling experiences and PUSHING the elective purchase of them to post-booking WORKS VERY WELL: Destination Seat Luggage Food In hospitality, our trend has been the reverse - bundling in the hopes that the aggregate value is clear. Maybe it isn t.
38 recognition not reward
39 AirBNB improved its conversion rate 3.75% by recognizing that guests should be paired with the hosts most likely to accept them, not just the ones that SEEM to fit their search criteria.
40 A number of businesses in the retail industry have already begun to test beacon technology, which uses Bluetooth to connect with shoppers phones in close proximity, in their locations.
41 Real estate developer Simon said last fall it would outfit nearly 240 malls and shopping centers with beacons. Macy s in September also rolled out a sizable beacon installation involving 4,000 devices. GameStop said it would pilot both geo-fencing and beacons in 36 stores in Q2, and Lord & Taylor stores rolled out beacons last year.
42 recognition choice access safety sharing palimpsest recommendations
43 A Final Point
44 Relevance is the coin of the realm C1 = B2 Q2 Q1 C1 - Cost per click paid by YOU B2 - Bid from the next-ranked ad (your competitor ) Q2 - Quality score of the next-ranked ad (your competitor ) Q1 - Quality score of your ad.
45 Relevance is the coin of the realm C1 = B2 Q2 Q1 C1 - Cost per click paid by YOU B2 - Bid from the next-ranked ad (your competitor ) Q2 - Quality score of the next-ranked ad (your competitor ) Q1 - Quality score of your ad
46 THANK YOU