Vrma nov 2010 david atkins digital dna infusion

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Vrma nov 2010 david atkins digital dna infusion

  1. 1. Building a Digital Strategy Don’t be left out in the cold Presented by: David Atkins, Principal Digital DNA Infusion, LLC david@digitaldnainfusion.com Twitter: @atkinsdavid www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  2. 2. PhoCusWright- Vacation Rentals www.digitaldnainfusion.com Source: PhCusWright October 2010
  3. 3. More PhoCusWright  Demographic Profile vs “Traditional Leisure Traveler” • Spend more than $1,000 per annum per household • 20% of the audience spends more than $6,000 per year (double the general leisure travel audience) www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion Source: PhCusWright October 2010
  4. 4. Stating the obvious  You compete with • Other professional VRM • Rental by Owner • Hotels • Resorts • Timeshare www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion Question is what does the consumer know ?
  5. 5. NEW FROM GOOGLE SEPT 2010
  6. 6. Change The only constant imperative when it comes to Digital is CHANGE Copyright 2010 Digital DNA Infusion
  7. 7. Google’s View 2010 www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion Source: Google
  8. 8. Moves Digital to Physical World  No more platforms  No more technical requirements  Just be “human” & transparent Copyright 2010 Digital DNA Infusion
  9. 9. Digital, Social, Mobile? • 39% of consumers have no destination in mind when starting their travel research online • Consumers are searching less- – Searches down to 6 (circa 12 in 2009) – Sites visited at 20 before a booking • “Only” 50% of shoppers use search in the research process • 92% of online bookings are “latent” • Mobile anyone- 18% of biz and 15% of leisure travelers checked hotels in 2009 Copyright 2010 Digital DNA InfusionSource: Forrester, Compete & Google Dec 2009- Sept 2010 The Planning and Review category (i.e. TripAdvisor) grew its share of all site visits by over 50% since 2008 Private Sales?
  10. 10. Does it all work?  Orlando CVB “67 Days of Smiles”  Santa Monica CVB  Best Western “Travel Tuesday”  Marriott- “Tweet yourself to Hawaii”  Motel 6  And many more www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion ROI, Traffic, Bookings, Revenue and Mentions
  11. 11. Where to start? Video SEO/SEM Social Media OTA’s Display Ads Site Conversion PPC Copyright 2010 Digital DNA Infusion Brand Sales Marketing Distribution Revenue IT Ownership
  12. 12. Follow the basics  Your customer  Your business  What metric?  What platform? Copyright 2010 Digital DNA Infusion Benchmark!
  13. 13. Influential Features in Leisure Travel Planning Source: PhoCusWright May 2010 www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  14. 14. Curators  Content, Experiences  Not always of our own creation Copyright 2010 Digital DNA Infusion
  15. 15. Customer View of travel sites- Areas of Opportunity Copyright 2010 Digital DNA Infusion Frommers Unlimited April 2010
  16. 16. Awareness Consideration Purchase Intent Loyalty Purchase Display Media Social Media Affiliate Marketing Search Engine Marketing Social Media Marketing Search Engine Marketing Search Engine Marketing Affiliate Marketing Email Marketing Social Media Marketing Marketing Channel Evaluation
  17. 17. Source: Wikipedia www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  18. 18. www.digitaldnainfusion.com Copyright 2010 Digital DNA
  19. 19. Basic Principles for Social Media www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  20. 20. Copyright 2010 Digital DNA Infusion, LLC
  21. 21. Review Sites Photo Sharing Video Sharing Blogs Types of Social Media that matter most for travel For North America and EMEA The priority will change based on your business & customer objectives www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  22. 22. Who Matters? Source: Quantcast Dec 2009 www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC Trip Advisor Who is your customer?
  23. 23. Does Social Media impact pricing? “ Done correctly, ratings and reviews deliver a significant increase in sales. One third of retailers reported an 11-20% or more overall increase in conversions as a result of adding reviews to their sites, while consumers are willing to pay up to 22-49% more for a 5-star rated product than for a 4-star rated product in the hospitality and travel industries” www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC Source: Mashable Feb 2010
  24. 24. Does Social Media impact pricing? • PhoCusWright answers this with: – Social Travel Advocacy Index mapped to ADR • Shows a distinct correlation that is quantifiable • Beyond the ADR/RevPar impact of your social media profile – What does this due to transparency of pricing? – What will the consumer accept? – How well does your organization understand SM? www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  25. 25. Does Social Media sell travel?? • PhoCusWright answers this with: www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion, LLC
  26. 26. Digital consumer behavioral data • 65 % of consumers have had a digital experience change their perception of the brand/product • 97% of consumers report that their digital experiences influence whether or not to purchases goods, services or products from the brand/product • 97% of consumers have searched out a brand online • 69% have read a corporate blog • 73% have posted a review of a product or service • 44% of consumers who follow a brand on twitter do it for DEALS Copyright 2010 Digital DNA Infusion Source: Razorfish Q4 2009
  27. 27. Beresford Data on Social Networks www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion Beresford Research June 2009
  28. 28. How are customers sharing data? Copyright 2010 Digital DNA Infusion Frommers Unlimited April 2010
  29. 29. Build a framework  The key: alignment and education Copyright 2010 Digital DNA Infusion
  30. 30. www.digitaldnainfusion.com Copyright 2009 Digital DNA Infusion
  31. 31. Digital Best Practices- Simply Enable Inspire Engage Involve Outreach Metrics Results Copyright 2010 Digital DNA Infusion Pick your partners wisely
  32. 32. www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion
  33. 33. www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion
  34. 34. Key questions to ask partners 1. What do I get? • Distribution • Marketing • Sales • SEO • SEM • Mobile • Website 2. Are you Independent? 3. Who else do you do business with? 4. What reporting do you provide? 5. What does it cost all in? 6. What is the commitment term? www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion
  35. 35. Questions and Thoughts?  Don’t allow your product to become a commodity!  Own your strategy and destiny!  Understand your partners  Discuss the history of the hotel/OTA relationships?= what lessons should we learn www.digitaldnainfusion.com Copyright 2010 Digital DNA Infusion
  36. 36. How to reach me?  David@digitaldnainfusion.com  Twitter @atkinsdavid  Old School: Digital DNA Infusion 6619 South Dixie Hwy Ste 306 Miami FL 33143 David- 305-458-2311 Maria- 954-609-9110 Copyright 2010 Digital DNA Infusion

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