The power of meta-search: It can do more for your hostel business - PowerPoint PPT Presentation

Sep 24, 2022 •29 likes •239 views

The essential global youth travel industry event The power of meta-search: It can do more for your hostel business than you might think Speaker: Brian Reeves Wednesday, 24 September | 14:00 15:00 www.facebook.com/wystc @WYSTC | #WYSTC2014

The essential global youth travel industry event The power of meta-search: It can do more for your hostel business than you might think Speaker: Brian Reeves Wednesday, 24 September | 14:00 – 15:00 www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Overview What is Meta Search Who uses it How to prepare for it How to engage www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
What is Meta Search? www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Hotels Combined www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Who uses Meta Search? www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Who uses Meta Search? www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Just for OTAs? HOSTEL Website Traffic x Conversion Rate x Average Booking Value BOOKING.COM: Traffic x Conversion Rate x Average Booking Value www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Understanding Cost of Sale Marketing Calculating Bid Price for Profitable Traffic Average Booking Value on Hostel Website £300 Budgeted Cost of Room Sold 10% Website Conversion Rate – Stage 1 50% Booking Conversion Rate – Stage 2 3% Overall Conversion Rate 1.5% Max bid price per new visitor 45p www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Passive v’s active selling booking engine www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Value…Loss Aversion…Reassurance www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Value…Loss Aversion…Reassurance www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
The power of conversion optimisation Booking.com - $11.50 ad spend per room night sold ($1.27 billion ad spend in 2012)* Expedia - $22.28 ad spend per room night sold ($ 870 million ad spend in 2012)* * Source: VFM Leonardo 2013 www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Top areas of focus to improve conversion Value, Urgency & Risk Mitigation Speed – page response times Availability Optimisation for Multi-night requests Wait List Function Abandonment Analytics Reservations Recovery www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Using Travel Meta Search www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Middleware Solutions Hostel Website Booking Engine www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Middleware Solutions MVT Hostel Website Booking Engine Hostel Website www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Channel ROI reporting & On/Off Control? www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Bid Control www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
Summary Understand cost of sale based marketing for paid search and meta search Work hard on conversion optimisation Consider meta search middleware solutions Apply COS based controls to protect ROI www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
brian@goppardigital.com

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