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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
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
What is Meta Search
Who uses it
How to prepare for it
How to engage
Overview
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
HOSTEL Website
Traffic x Conversion Rate x Average Booking Value
BOOKING.COM:
Traffic x Conversion Rate x Average Booking Value
Just for OTAs?
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
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
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
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
www.facebook.com/wystc @WYSTC | #WYSTC2014 www.wystc.org
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
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
MVT
Hostel Website Booking Engine
Hostel Website
Middleware Solutions
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
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
brian@goppardigital.com
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