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Beyond Booking Webinar Follow Up

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Beyond Booking Webinar Follow Up

  1. 1. Beyond Booking Building Brand Equity Online in the Travel & Leisure Market Presented by Jessica Hogue & Karen Daenen
  2. 2. Our Research Capabilities <ul><li>On-Demand Business Research: </li></ul><ul><ul><li>On-demand access to a dedicated research team that quickly provides the insights and knowledge you need to track competitors, markets, technology and new opportunities. </li></ul></ul><ul><li>Strategic Intelligence: </li></ul><ul><ul><li>Insightful intelligence ethically obtained from unpublished sources, industry experts, market watchers and from actual market players who know the companies you want to understand. </li></ul></ul><ul><li>Custom Market Research: </li></ul><ul><ul><li>In-depth custom research and strategic consulting through advanced interviewing and analytical techniques. </li></ul></ul><ul><li>Product Development Intelligence: </li></ul><ul><ul><li>Analysis and expert advice in conceiving, developing and commercializing new products and processes. </li></ul></ul>
  3. 3. Our Research Capabilities (continued) <ul><li>Expert Advisory Network: </li></ul><ul><ul><li>Expert consulting and witness services from over 10,000 industry experts covering nearly all areas of science, engineering, regulation and business. </li></ul></ul><ul><li>Global Research: </li></ul><ul><ul><li>International research capabilities through an exclusive network of business intelligence centers </li></ul></ul><ul><li>Legal Survey Research and Expert Witness Services: </li></ul><ul><ul><li>Survey research intended to withstand even the most rigorous judicial scrutiny and expert witness services for a wide variety of legal disputes </li></ul></ul>
  4. 4. About the Presenters Jessica Hogue Jessica Hogue is a Business Research Analyst at Guideline who specializes in food and beverage, travel and leisure industries. Prior to joining Guideline, Ms. Hogue was a Marketing and Communications Director for a luxury cruise operator, where she spearheaded email marketing as well as distributing product online. She previously worked as a freelance writer and at Gourmet magazine, a Condé Nast publication. Ms. Hogue holds a B.A. from Pepperdine University and an M.S. in Journalism from the Columbia University School of Journalism. Karen Daenen Karen Daenen is a Research Analyst specializing in food, wine and travel and leisure industries. Prior to joining Guideline, Karen worked as Director of Information Services at a wine importing and marketing company based in New York. She holds a BA from Columbia University and a Master’s degree in Library Science from Pratt.
  5. 5. The Online Travel Market Today <ul><li>Today’s online travel marketplace is valued at $68 billion. </li></ul><ul><li>In 2005, more than one-quarter of all leisure and unmanaged business travel was booked online. </li></ul><ul><li>Online travel is expected to grow to 35% by 2006. </li></ul><ul><li>Understand and market to travelers’ evolving online information and inspiration needs </li></ul><ul><li>Personalize and humanize the online experience </li></ul><ul><li>Offer “expert” or “insider” content travelers can’t get elsewhere </li></ul>
  6. 6. Objective & Methodology Our objective was to uncover the purchasing patterns of people who book travel arrangements online. What motivates them to choose one supplier over another? Are there any subtleties that travel/leisure providers can play to in an effort to attract travelers’ attention? Finally, we sought to differentiate between luxury and non-luxury travelers. Guideline conducted 407 online interviews, with respondents who have a total household income of at least $100,000 and who have taken a domestic or foreign vacation in the past 2 years. Two hundred surveys provide error margins of + 6.9% for each group, while comparisons of the two groups will have an error margin of + 11%. Travelers n=202 n=205 LUXURY TRAVELERS MAINSTREAM TRAVELERS (spent >$2k+ pp) (spent <$2k pp)
  7. 7. The Travel Planning Process: First Stop - The Big Three <ul><li>Over 5 billion travel-related searches were performed in 2005. </li></ul><ul><li>46% of online travelers start their search with Expedia, Travelocity or Orbitz. </li></ul><ul><li>Only 24% first visit a branded airline, hotel or car rental site. </li></ul>Source: comScore; Nielsen/NetRatings
  8. 8. Average Number of Websites Visited Before Purchasing <ul><li>46% of Mainstream travelers visit between 4-6 sites, another 39% visit between 1 and 3. </li></ul><ul><li>A small segment of Luxury travelers (15%) visit as many as 10 sites. </li></ul>Significant in comparison to other sub-group
  9. 9. Researchers vs. Payees Q: Who does the research for your leisure/personal travel? Q: Who actually pays for your leisure/personal travel? (Multiple responses permitted) Who does the research? Who pays for the travel? (Multiple responses permitted)
  10. 10. Destination Influencers Destination influences ranked from most influential to least influential. Significant in comparison to other sub-group
  11. 11. Destination Influencers
  12. 12. Online Resources Used to Research Trips
  13. 13. Offline Resources Used to Research Trips
  14. 14. Compelling Website Content for Destination Selection Significant in comparison to other sub-group Both sets rate reviews by other travelers, articles and photos or slide shows as valuable components.
  15. 15. Most Appealing Website Components
  16. 16. Royal Caribbean
  17. 17. Royal Caribbean
  18. 18. Royal Caribbean
  19. 19. Royal Caribbean
  20. 20. VisitLasVegas.com
  21. 21. VisitLasVegas.com
  22. 22. Lufthansa
  23. 23. Lufthansa
  24. 24. Lufthansa
  25. 25. Booking Preference Significant in comparison to other sub-group Prefer to book with a live travel agent Prefer to book directly with travel supplier Prefer to book online via online travel agency or travel search aggregator
  26. 26. Three Primary Forms of Travel Transacted Online <ul><li>36 million airline tickets are booked online </li></ul><ul><li>and 32 million hotel accommodations </li></ul><ul><li>and 17 million rental cars </li></ul>Source: Forrester
  27. 27. Comfort Booking Many Types of Travel Online MARKET OPPORTUNITY
  28. 28. Where Do You Get the Best Price? Significant in comparison to other sub-group
  29. 29. Maximum Willing to Spend Per Person What is the maximum you would spend per person for a luxury vacation package online? Significant in comparison to other sub-group
  30. 30. Importance of Brand Selection When booking a luxury travel package how important are the following components to ensuring the enjoyment of your trip?
  31. 31. Why Are We Hesitant to Book Online? The Luxury Group are more likely than the Standard Group to say that they are unable to get everything they need from one source for their personal/leisure travel.
  32. 32. Confused, Fed Up with Travel Planning? Your online research is an enjoyable aspect of pre-planning your trip Your online research process is too confusing Your online research process is too time consuming Attitudes Toward Travel Planning Online
  33. 33. <ul><ul><li>Know the Researcher, the Broker and the Booker – Address each need state through the travel process to optimize number of solutions your brand can deliver. </li></ul></ul><ul><ul><li>Personalize & Humanize Your Site – While a website will never replace the “live” experience a travel has with your brand, create some of that experience online by offer rewards for feedback, inviting travelers to write reviews and ask questions via live chats to encourage interaction online. </li></ul></ul><ul><ul><li>Become the Expert – Provide authoritative content or partner with an expert to create an “insider” feel and lend credibility to elements of your online content so you are THE trusted source . </li></ul></ul>Keys to Building Brand Equity in the Online Travel Market
  34. 34. Thank You 625 Avenue of the Americas New York, NY 10011 www.guideline.com Jessica Hogue Karen Daenen Research Analyst Research Analyst 212.463.6306 212.463.6327 [email_address] [email_address] Contact All attendees will receive these PowerPoint slides and access to an online recording of the presentation within the next week.

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