E-book: “Travel Marketing Budgets 2016: 5 Must-Watch Digital Trends”
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It’s 2016 budgeting season, which means it’s time to determine how to best allocate your digital marketing spend. These decisions aren’t easy; digital is quickly transforming the travel/hospitality space, and there are seemingly countless fresh platforms, networks, and ideas to invest in. So, which of these many channels and tactics should you to devote additional resources to? What will have the biggest impact on your business? The new e-book from MDG Advertising, “Travel Marketing Budgets 2016: 5 Must-Watch Digital Trends,” explores the key online areas in which we expect to see significant growth in the next 12 months. The complimentary e-book examines why each of the channels and tactics matters, and what you’ll need to do to make the most of these opportunities. The areas covered include: Websites: Learn why consumers are increasingly returning to brand sites, and what that means for travel and hospitality businesses. Mobile: The rapid growth in smartphone usage is changing how travelers tackle everything, from researching to booking. Find out how to not get left behind. Millennials: This much-talked-about age group now represents 40% of online travel bookings. Discover what makes this generation of travelers fundamentally different. Reviews: Did you know that reviews have the second-biggest influence on travel purchase decisions after price? Understand how to make the most of these assets. Video: Digital video viewing and sharing has finally reached scale in the travel and hospitality space. Explore why this shift has big implications for your social strategy. Check out the full e-book for an in-depth analysis on why each of these areas is expected to be important in 2016, and for specific recommendations on how to capitalize on their growth. Discover the latest tactics in travel marketing. Contact MDG Advertising today at 561-338-7797 or visit mdgadvertising.com.
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E-book: “Travel Marketing Budgets 2016: 5 Must-Watch Digital Trends”
- 1. 1 mdgadvertising.com Share this e-book! Travel Marketing Budgets 2016: 5 Must-Watch Digital Trends
- 2. 2 mdgadvertising.com Share this e-book! Travel Marketing Budgets 2016: 5 Must-Watch Digital Trends As travel and hospitality marketers budget digital spend for 2016, what should they be paying attention to? Which trends, platforms, and tactics are expected to matter most? To start with, there’s good reason to be optimistic about the year ahead. The U.S. Travel Association expects total travel expenditures to increase by 3.4% in 2016, with domestic travel growing by 2% and the number of international visitors rising by more than 4%. This increased volume is projected to lead to single-digit price increases by air, car rental, hotel, and other hospitality-related businesses. Digital should grow even more quickly in 2016, with Internet traffic projected to jump by 23% and combined desktop/mobile ad spend projected to surpass television spend. In other words, marketers should be facing increased demand for their products/services and more opportunities to capitalize on this interest online in 2016. This means that the right digital investments have the potential to payoff quickly and significantly. The problem, of course, is trying to figure out which digital channels are the “right” ones. There are seemingly countless options for brands —ranging from traditional online advertising meda to emerging social networks—with more arriving each day. In this e-book, we’re focusing on digital channels and tactics which we expect to see significant growth in during the next 12 months. These recommendations are by no means all-encompassing, but they do represent many of the areas that we believe will have the biggest impact on your business in the year ahead.
- 3. 3 mdgadvertising.com Share this e-book! Section 1 Invest in your website: Don’t neglect the digital hub Section 2 Mobile optimize everything: It’s a small-screen world Section 3 Make way for Millennials: This demo is very different Section 4 Refocus on reviews: They matter more than ever Section 5 Keep spending on video: Its time is finally here 4 5 6 8 10 Table of Contents
- 4. 4 mdgadvertising.com Share this e-book! Investing in your site is one of the smartest things you can do next year. 64% of travelers believe they pay less on brand websites than on third-party sites 1. Invest in your website: Don’t neglect your digital hub We know what you’re thinking: putting budget into your website feels more 2006, or even 1996, than 2016. Nevertheless, investing in your site is one of the smartest things you can do next year. Something very interesting has happened over the past few years while everyone has been talking about consumers’ move to social and third-party platforms: many brand websites have been thriving. In summarizing its findings from a recent survey of U.S. consumers, the Destination Marketing Association International (DMAI) highlighted this key learning: “Travelers are [sic] increasingly heading directly to travel brand sites to both research and book travel at a substantially higher rate than in previous years.” The survey found this return to brand websites is due to two main factors: price and convenience. Some 64% of travelers believe they now pay less by booking directly, and 67% think it’s easier than going through a third-party site. Given that many consumers view travel and hospitality brands’ websites as the most accessible and cost-effective digital platforms, it’s essential that you devote time and resources to your most visible online experience. Don’t just think of your website as an ancillary part of your business; view your site as a core digital hub, the place where many consumers are likely to research, and purchase, your offerings. Section 1
- 5. 5 mdgadvertising.com Share this e-book! 2. Mobile optimize everything: It’s a small-screen world We know, we know, you’re sick of hearing about the importance of mobile. Still, we’d be remiss if we didn’t talk about it, since it’s almost assured to be the biggest digital trend of 2016. The use of mobile devices in the travel and hospitality space is already significant, and it’s increasing rapidly. How rapidly? According to Google, mobile search volume is up by more than a third across the board in the space this year, including for hotels (+49%), cruises (+49%), tours and attractions (+47%), car rental (+47%), and airlines (+33%). A key thing to note is that the rise of mobile applies to every aspect of travel, not just booking. For example, some 40% of consumers have checked into a flight using a mobile device, and the use of mobile boarding passes was up +31% last year. All of that is why a recent survey of travel managers found that the increased use of mobile technology is viewed as the most important trend in the coming year. So what should your business do about the rise of smartphones and tablets? Most importantly: mobile optimize absolutely everything. At a basic level, this means that each element of your website should display nicely, and quickly, on mobile devices. Beyond that, though, it’s important to view all your offerings through a mobile-first lens. Is your booking mobile-friendly? Does your app have the full functionality of your desktop site? Is it possible to get online customer support easily via a smartphone? If you haven’t already, make sure to grapple with these questions in 2016; the rise of mobile isn’t coming, it’s already here. Section 2 A recent survey of travel managers found that the increased use of mobile technology is viewed as the most important trend in the coming year.
- 6. 6 mdgadvertising.com Share this e-book! 3. Make way for Millennials: This demo is very different In 2015 Millennials surpassed Generation X as the largest generation in the U.S. workforce, and it’s estimated that the group now represents 40% of leisure travelers who book online. This means that Millennials are already driving a huge amount of purchasing for both business and personal travel, with the share set to increase even more in the coming year. So how does this impact travel and hospitality businesses? Overall, it’s important to keep in mind that Millennials often don’t look, or act, like other generations. According to an in-depth Pew study of Millennials, this group is the most racially diverse generation in American history, with higher levels of debt and less interest in marrying early compared with other age groups. In terms of specific differences when it comes to travel, Millennials are more likely to: Use mobile devices and digital platforms to research, book, and share experiences Spend more per day while on a vacation compared with other age groups Section 3 Millennials already represent 40% of travelers who book online
- 7. 7 mdgadvertising.com Share this e-book! Take “staycations” (the average Millennial went on 3 close-to-home trips last year) Combine business trips and personal travel into one longer experience Research Airbnb/HomeAway rentals at the same time as hotel options when planning There are, of course, many other differences beyond these— some of which are just emerging as the group moves further into adulthood. Broadly, when developing your products/services and marketing campaigns, we recommend always keeping this in mind: Millennials are very different from other demographics, and the group needs to be targeted in unique ways.
- 8. 8 mdgadvertising.com Share this e-book! 4. Refocus on reviews: They matter more than ever Section 4 Online reviews are really, really important to travelers. 64% of travelers say they visit sites like TripAdvisor for inspiration Let’s start with this: online reviews are really, really important to travelers. A poll of consumers conducted earlier this year found positive reviews are the second-most likely factor to influence a travel purchase, with only price ranking higher. What is sometimes overlooked is that reviews matter throughout the travel journey, not just at the time of booking. Some 64% of travelers say they visit sites like TripAdvisor for inspiration and 46% have been motivated to write a review after an experience. Moreover, online reviews are especially trusted by a prized demographic: affluent travelers. Consumers with annual incomes above $150,000 say they trust online reviews more than both recommendations from friends/family and write- ups from travel experts. All of that means that 2016 is a good time to refocus on your reviews. To some degree this is about building positive sentiment; make sure you’re doing everything possible to encourage people with good experiences to share online, and that you’ve properly addressed any negative posts. In addition, we recommend spending some time and budget on review optimization. Specifically, make sure that you’re surfacing positive reviews at every level of your own digital experiences—such as on web pages/in your app—and that you are properly represented on every third-party platform. One area to pay particularly close attention to in the coming year is reviews on geo-applications, such as Google Maps. These are increasingly becoming the gateways to reviews for consumers, especially on mobile, and a little optimization effort on them can have a big payoff.
- 9. 9 mdgadvertising.com Share this e-book! 5. Keep spending on video: Its time is finally here Section 5 Digital video viewing has finally reached scale, and it’s growing quickly. 75% of U.S. Internet users say Facebook is how they distribute digital clips of their travels Digital video has been a challenging medium for many travel and hospitality brands; for years it’s been talked about as the next big content type, yet engagement levels have often lagged the hype. Here’s our advice for 2016: stick with it. Why? Because digital video viewing has finally reached scale, and it’s growing quickly. In 2011, the average American adult spent just 21 minutes on average engaging with digital video; in 2015, that number jumped to 1 hour and 16 minutes. Some of this is due to the increased popularity of streaming sites like Netflix and Hulu, but much of that engagement is also with short-form videos. One trend that’s especially important to keep in mind is this: digital video and social media are quickly converging. YouTube, of course, is the ultimate example here. The network has more than a billion users constantly watching, sharing, and commenting on videos. However, other platforms are also rising quickly in the space. Facebook doubled the number of videos watched on its network within the past year—from 4 billion to 8 billion per day—and Snapchat is experiencing a meteoric ascent, with 6 billion videos now being streamed each day. Social media is where travelers go to both watch and share videos; 75% of U.S. Internet users say Facebook is how they distribute digital clips of their trips, ahead of email (52%), SMS (34%), and photo streams (14%). For travel and hospitality brands, then, it’s key to integrate social and video strategies in 2016. Travelers increasingly see these two things as the same, and if you want to succeed in the space it is important to view them as intertwined.
- 10. 10 mdgadvertising.com Share this e-book! So what’s the perfect mix of digital tactics for 2016? The answer to that question will vary widely from business to business. Determining the right combination of platforms and ideas to invest in is highly dependent on your particular audience, goals, and competitive landscape. That said, we believe that the five things covered in this e-book—website investment, mobile presentation, Millennial targeting, review optimization, and video production—should have a major impact on travel and hospitality businesses across the board in the near future. Ultimately, if you take these tactics and channels into account when budgeting for 2016, you should be well poised to succeed in digital in the year ahead.
- 12. mdgadvertising.com Share this e-book! Florida 3500 NW Boca Raton Blvd. Suite 601 Boca Raton, FL 33431 561 338 7797 New York 275 Madison Ave. 14th Floor New York, NY 10016 917 969 5370 To schedule a consultation on how your brand can keep up with changes in travel marketing, call 561-338-7797 or email us at info@mdgadvertising.com. If you would like to receive future MDG e-books, subscribe to the MDG blog at mdgadvertising.com/blog, visit us at mdgadvertising.com or Connect with us via our social media pages.