Travel companies are not fully capitalizing on the business opportunities presented by social media platforms, a report said.
Travel companies must fully integrate digital channels into their overall business strategies in order to better engage with consumers, according to the Digital Channels in Travel report launched today (February 26) by Facebook and Deloitte, a provider of audit, tax, consulting, and financial advisory services.
The report’s findings are based on Deloitte Global’s review of data from a Facebook-commissioned global survey of 10,500 people who use social media.
The survey data found that social media platforms (33 percent) ranked second only to friends and family (50 percent) as sources for travel ideas; followed by TV shows (32 percent), travel brochures (31 percent), and search engines (31 percent).
Yet, a recent study conducted by Deloitte in the US and MIT Sloan Management Review found that more than 50 percent of travel executives believe their companies are behind the competition with respect to digital media presence1. These findings suggest that there is still more work to be done before travel companies can reap the rewards of a fully integrated digital strategy.
Lee McCabe, global head of Travel, Education and Consumer Services at Facebook, said: “Successful companies are investing in digital and adopting new technology and innovation faster than their competitors. Internally, these companies are altering their organizational structures to eliminate siloed departments and are making digital essential to all departments and teams.
“The successful players in the travel industry aren’t viewing ‘social media’ as a separate entity, but as a key asset to their business growth and success.”
Grant Salter, director, Tourism, Hospitality and Leisure (THL) industry at Deloitte Middle East said: “Travel 
companies that are not taking advantage of the business opportunities presented by digital platforms are potentially missing out on important sources of growth.”
“With the high proportion of the population in the Middle East region being under the age of 29 years old, and the increasing influence that these individuals have on family travel decisions, it is clear that with the right approach, digital can transform a travel company’s marketing efforts and deliver real ROI. However, effective strategies must be tied to business goals in order to begin to see real, tangible results,” he added.
Key recommendations
• Effective measurement – To fully maximize the opportunity presented by digital channels, companies must hold their digital activities to the same standards of measurable return that they apply to traditional marketing tools (i.e., television and print). Measuring the number of “likes” is not meaningful on its own unless it can be connected to a larger and measurable business goal. Digital media isn’t new anymore, and its reach and potential continues to evolve rapidly. The sooner companies can adapt to these new techniques and integrate them with their core business strategies, the quicker they can transform their digital outreach from an expense to a profitable investment.
• Leverage digital channels to improve targeting abilities – Collecting information on consumers is only the first step. Brands need to effectively use data to target specific audiences; this is the catalyst that sets digital channels apart from traditional marketing methods. By targeting specific consumer cohorts, companies can be more efficient with their spending and dedicate more resources to consumers who are likely to generate revenue for the company.
• Integrate digital channels into the broader business – Digital operations need to happen right alongside operational activities to be effective. An effective digital strategy cannot happen if digital marketing lives siloed on the organizational chart – and the optimal location for digital operations is unique to each company. A successful organization is one that allows digital channels to cut across and support all the relevant parts of the business. –TradeArabia News Service
Related Posts
-
He was luring young girls into prostitution through social mediaTevon Harris’s modus operandi was simple. He would contact young girls through social media and offer them modelling jobs with lots of money. Later they mere made to have sex with Harris and other customers. The girls were then photographed and their images posted in online ads for prostitution. Even the money they earned was pocketed by Harris who used violence and intimidation to make them cooperate. They were also not allowed to speak to their friends or relatives and kept without food for days if they did not cooperate.
-
-
New EU initiative may create hell for secret and anonymous shell companiesA new EU initiative might make life miserable for corrupt individuals and companies to hide their identity behind a maze of anonymous shell companies. The new move might make it easier for investigators and the public to uncover the source and intended destination for funds stolen from the public or given and accepted as bribes for winning public contracts. Many secret companies till now being used to hide illicit funds.
-
Mind your business in my spaceTill lately, the outer space was a no man’s land. Things moved there but slowly. Only a handful dared to even imagine going there, fewer still set foot on it. All this, is set to change. With a new set of players minding the business of inter-galactic travel nothing is going to remain private or unexplored… Even the sky is not the limit
Leave a Reply