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The essential global youth travel industry event
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
The power of meta-search: It can do more for your hostel business - - PowerPoint PPT Presentation
The power of meta-search: It can do more for your hostel business - - PowerPoint PPT Presentation
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
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What is Meta Search?
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Hotels Combined
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Who uses Meta Search?
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Who uses Meta Search?
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HOSTEL Website
Traffic x Conversion Rate x Average Booking Value
BOOKING.COM:
Traffic x Conversion Rate x Average Booking Value
Just for OTAs?
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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
Understanding Cost of Sale Marketing
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Passive v’s active selling booking engine
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Value…Loss Aversion…Reassurance
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Value…Loss Aversion…Reassurance
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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
The power of conversion optimisation
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Value, Urgency & Risk Mitigation Speed – page response times Availability Optimisation for Multi-night requests Wait List Function Abandonment Analytics Reservations Recovery
Top areas of focus to improve conversion
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Using Travel Meta Search
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Middleware Solutions
Hostel Website Booking Engine
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MVT Hostel Website Booking Engine Hostel Website
Middleware Solutions
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Channel ROI reporting & On/Off Control?
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Bid Control
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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
Summary
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