Marketers Most Critical Challenges:
Brand positioning
Marketers need to manage and customize their communications to appeal to different traveler types and budgets. Understanding the drivers of sales for different segments through marketing mix modeling can help achieve this objective.
Personalization
Marketers can leverage the power of content and AI to provide a personalized and unique experience to various target groups, and the most effective messages can be identified through advanced data analytics.
Price sensitivity
With the availability of meta search for flights or hotels driving greater pricing transparency and competition, marketers need to find creative ways to market their products to increasingly price-conscious customers hit by rising inflation. Price sensitivity analysis can be part of a standard marketing mix modeling project.
Distribution channels
Today, the proliferation of distribution opportunities means marketers need to manage and optimize a complex system of owned, partnered and third-party channels. Modeling can uncover how demand varies across channels and how to best target your customers across the complex buyer journey.
Brand vs. Performance
Employing advanced modeling and budget optimization allows companies to understand how to balance their long-term brand marketing objectives versus shorter-term performance.
Technology
Technology has transformed marketing, with social media and online reviews playing a crucial role. Marketers must harness social media as both a research tool and a marketing platform. To stay competitive, they need to adapt to evolving tech trends, meet travelers where they are, and offer innovative, user-friendly experiences throughout the travel journey.
Marketscience provides a range of bespoke solutions that help address the needs of travel and leisure marketers in this uncertain and competitive environment. Explore our case studies:
