19 Apr Is Your Data Really Generating a Return?
Posted at 23:46h in Blogs
It’s never been more important to use current, transparent data about people in the market genuinely looking for hotel rooms, flights, hire cars, experiences and more.
This year has been the toughest travel market most operators have experienced. Which is why firms that make the most of data about travellers who are actually looking to book travel have a competitive advantage.
Many airlines, hotels, travel agencies and other stakeholders in the travel market assume their first party data generated from information about customers’ previous transactions is all they need when developing future marketing campaigns. But augmenting this with additional, more current data sets is a much better way of driving sales and profits.
Let’s say an airline has customer details from when they bought a flight from Sydney to Adelaide. But now, the customer is looking to book a flight to Queensland. If the airline only has the data from the previous transaction, it has no way of knowing the customer is in the market looking for flights to Queensland entice them with a compelling offer to drive consideration back to their brand.
At Audience360, we can deliver businesses in the travel sector data about this customer because through our partnerships, we know the traveller has just booked a flight in Brisbane and is likely to need to book a hotel.
Having a deeper understanding of the customer and being able to personalise marketing populates the sales funnel and results in better conversion results. What’s key is understanding what you need in terms of data to enhance the information you already have.
Having transparency over the data set and being able to verify the information ensures you achieve a return when investing in data to help drive sales and business growth.