The marketing communication process is not something new, and it has been done the same way for years: the professional identifies the target audience and the main media channels, develops the creative concept and launches the campaign. Depending on the budget and on the kind of action, the campaign can be kept on the air for a few weeks. After this period, the marketing area should analyze the results to evaluate the return. This information is fundamental for developing new campaigns that will follow the same ‘script’. By doing so, it is possible to understand why the creation didn’t bring the expected result and change the creative concept. If the media channels that were chosen didn’t bring new prospects, they need to be replaced. And so on.
This model also applies for the digital age. But now there is a small difference. The time to evaluate results and make necessary adjustments for the next campaign is not some weeks anymore. This is done in minutes. No, I’m not mistaken! It only takes some minutes.
Today, no brand can wait days to assess the results of an action. With the speed of internet, consumers are impacted by new products and services offers on a daily basis. Their choices are made in a dynamic way. Companies that don’t understand this are risking a big part of their marketing communication investment. This is also true for the hospitality industry.
By following this process, airline companies can relocate media funds to promote flights which are difficult to sell out. Hotel networks can direct the biggest part of their resources to the most interesting destinations or to locations with low occupancy rate. Car rental companies can test adverts for different kinds of cars and offers, keeping only the ones that generates the best revenues online.
The most interesting part of this all is that everything can be altered overnight. Another extremely positive point is that media budget allocation can be done dynamically. Instead of pre-allocating funds for campaigns, like most companies do, this can be done proportionally to the return over investment. Why should a campaign that keeps bringing profit and travelers stop?
This is only possible because in the digital age we can measure a big part of the actions – know how many people were impacted by the campaign, the creative pieces responsible for the best results, the most efficient media channels, which consumers purchased and the return over investment.
This information is available in real time for the marketing team to do all the necessary adjustments. This makes possible to follow, through the day, using a computer, tablet or mobile phone, how many reservations are being made, for which location, and by which segment. This is very important for improving decision making. With real data, it becomes easier to redefine budget, channels, communications and target audience. This is the marketing of the new times, based on data to reach business performance.
John Wanamaker, one of the pioneers in the retail department stores in the 19th century, had a famous quote: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” If he were alive today, another quote from him could be: “Everything I spend on marketing in the digital age can be measured. Those who don’t do it are lost”.
This post was originally published in Brasilturis.