the power of meta-search · the essential global youth travel industry event @wystc | #wystc2014 ...

The essential global youth travel industry event

www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org

Speaker: Brian Reeves

The power of meta-search:

Wednesday, 24 September | 14:00 – 15:00

It can do more for your hostel business than you might think


What is Meta Search

Who uses it

How to prepare for it

How to engage

Overview


What is Meta Search?


Hotels Combined


Who uses Meta Search?


HOSTEL Website

Traffic x Conversion Rate x Average Booking Value

BOOKING.COM:

Traffic x Conversion Rate x Average Booking Value

Just for OTAs?


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


Passive v’s active selling booking engine


Value…Loss Aversion…Reassurance


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


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


Using Travel Meta Search


Middleware Solutions

Hostel Website Booking Engine


MVT

Hostel Website Booking Engine

Hostel Website

Middleware Solutions


Channel ROI reporting & On/Off Control?


Bid Control


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

[email protected]

the power of meta-search · the essential global youth travel industry event @wystc | #wystc2014 ...

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