Digital data has made a world of difference in how travel brands market to travelers and manage their operations. As a result, it can be challenging for travel marketers to navigate through all of the digital options and develop the ideal business strategies. In anticipation of The Smart Travel Data Summit in late November, 100 senior travel executives were asked to share their industry insights in the Smart Travel Data Survey 2016. The results were compiled and reveal the importance of revenue management, data, and analytics in travel both today and tomorrow. EyeForTravel.com shared the key findings to show where the travel industry is heading.
Check In on What Should Matter Most
According to Eye for Travel, there are certain factors that travel brands should prioritize in 2017. Their greatest focus should be on:
- Marketing analytics
- Data collection
- Revenue management
But, travel brands must also pay attention to:
- Improving customer understanding
- Strengthening consumer loyalty
- Increasing ancillary sales
- Eliminating the commoditization concerns of distribution partners
Discover the Future Financial Focus
When it comes to the financial focus of travel brands, more than 60% of respondents expected their revenue management budget to increase over the next three years, while around 25% said their budgets would stay the same.
And in terms of where travel brands plan to invest their budgets, the information showed:
- 32% in distribution technology
- 32% in infrastructure
- 20% in marketing technology
- 10% in revenue management technology
- 6% in other
The 10 Topics Travel Brands Are Excited to Explore
A number of topics and trends that travel brands are looking forward to exploring are as follows:
- Big data
- Revenue management
- Distribution technology
- New partnerships
- New marketing technology
- Traveler personalization
- Customer experience
- Mobile innovation
- User-generated content
Stay current on what matters most in travel and hospitality marketing. Contact MDG Advertising.
MDG Advertising, a full-service advertising agency with offices in Boca Raton and New York, NY, is one of Florida’s top hospitality marketing companies and branding firms. MDG’s core capabilities include advertising, branding, logo design, creative, infographic development, digital marketing, creative media planning and buying, radio and TV advertising, website design and development, email marketing, mobile marketing, content marketing, social media marketing, and SEO. To stay on top of the latest trends in travel marketing and advertising, contact MDG Advertising.
Written by Michael Del Gigante