It costs six timesmore money to get a new client than retain an existing one.
This Thispresentation presentation will not... will...• Give you every • Educate you on answer basics• Sell you any • Make you want software to learn more• Make you an • Challenge your expert thinking 6
PROBLEM: Up to 40%cancellation rate betweenreservation and payment. 29
Online Travel Purchase Process• The average consumer makes 22 visits to travel sites (not necessarily different sites) before buying travel online.• 15% don’t know where they’re going when they start planning.• 39% don’t know when they will be traveling. Source: Meskauskas, Jim. ”6 Keys to Vertical Ad Network Success.” December 17, 2008. Via I-media connection e-newsletter. 30
To Create a Database... You have to ask the Questions
Case Study: Harrah’s Casino• When guests check in at Harrahs Casinos, they are given a casino card that acts like a credit card that can be used for access to gaming rooms and machines, the resort spa, restaurants etc.• The casino gets a real-time history of where the customer is spending his time.• They can offer rewards or discounts and other promotions based on those patterns.• Can offer the incentives during the current stay or as an inducement to gain repeat business. Source: CRM Buyer 37
Tracking Customer Behavior • Learn about customer behavior so as to design offers/product/marketing • Find the common and the different • Record everything Source: CRM Buyer 38
WARNING Americans Bolder Overseas• 59% are more adventurous than they would be at home• 91% are experimental in their choices of local cuisine• 76% make an effort to speak the local language• 58% alter their dress... to appear less AmericanSource: TripAdvisor Survey, Hotel News Resource, May 2010 40
WHEN IS APPROPRIATE TO TALK TO YOUR PROSPECT ?
Itch CycleReach your clientsas the “Itch Cycle”begins. 42
Start planning your next tripBEFORE current one is over! 43
HOW OFTEN WILL YOUR CLIENTS BUY YOUR PRODUCT ?
Club Med• With 80 resorts worldwide, Club Med rewards loyal guests with benefits: – complimentary upgrades – private resort transfers – late checkout – boutique and excursion discounts• Free enrollment 51
Leaders Club The Leading Hotels of The World• Free Nights at the World’s Finest Hotels• Early Check-In / Late Check-Out• Preferential Treatment on a One-Category Upgrade• Special rate privileges• Invitations to Leaders Club events• Access to one-of-a-kind specially created experiences• A unique welcome gift at each Leading Hotel 53
Star AllianceThe Star Alliance network provides a true end-to-end service for frequent flyers to ensure aconvenient, smooth and efficient worldwidetravel experience. • Faster and smoother transfers • Frequent flyer programs • Upgrades • Awards • Lounges • Additional rewards of Gold and Silver status 54
REI• More than 3.8 million active members• $20: Lifetime membership• Receive special members-only offers• New members receive $100 off an REI Adventure trip 57
Costco• Over 500 locations• Extremely loyal members; renew their membership at an 86% renewal rate• $50 - Business or Gold Star (individual) membership• $100 - Executive membership (earn 2% annual reward) 58
Not All Vacations Are Created Equal Milestone birthday 45% Ever took vacation to Milestone anniversary 37 celebrate a life event. Wedding 35 !65 Family reunion 28 % Graduation from high 19 school, college, etc. Retirement 5 Bonus or raise in 5 compensation for my job New job 3 Source: Portrait of American Travelers, Ypartnership, June 2010 61
Targeting Kids • Children play an active role in planning vacations in half of all family travel households • 9 out of 10 have a page posted on Facebook • 1 out of 4 has visited a blog to seek or preview information about a vacation destination or travel service supplier Source: Portrait of American Travelers, Ypartnership, July 2010 62
Targeting Kids • Over $15 billion a year is spent on advertising direct to children • 55% of kids are successful at getting their parents to buy what they want • Developing a separate website for the kids • They don’t travel aloneSource: National Survey, Center for a New American Dream, 2010 63
What’s the best way to Reach Clients (and prospective clients)through Social Media
Monitoring Your Brand• Monitoring your brand is the first step to knowing what your customer (or potential customer) thinks: – Facebook – Twitter – Youtube – FourSquare – TripAdvisor – News Feeds – The list goes on... 66
Nearly 1/3 of travelers are at least somewhat influenced bycomments from people in their online social network whenmaking travel purchase decisions 67
Effective Facebook Page• Call To Action• The purpose of your custom landing tab should always be conversion of visitors to your fans.• Good practice to remind people about it the “Like” button. 68