Daily Bulletin

Business News

  • Written by Drew Bowering, Senior Director of Market Management, Expedia Group

Most of us in business have heard the old adage, “half of your marketing spend is wasted, but you do not know which half”.

 

We now no longer need that to be true. Why? Well, you see we used to talk about how many people are online, now we talk about how many are online constantly.

 

We’ve been saying that the future is mobile. Well, two thirds of all online traffic is now mobile1. Mobile is not just the future, mobile is now.

 

My point is that with so much searching and shopping happening online, we have very specific data to understand how to target effectively, which means online marketing spend can be optimised as there is true visibility.

 

Expedia Group conducted a lot of research in this space, and from that we’ve identified four fundamental themes that we need to hit for online success; (1) relevance, (2) trust, (3) convenience and (4) value2. By masterfully taking data and applying it to our online businesses, we can deliver on these while also eliminating wasted online spend.

 

For me, the first focus is relevance. It’s the theme technology has fundamentally turned on its head.

 

Relevance in the digital age is about identifying the correct intent in the exact moment it is intended. Put simply, the Netflix generation want it all, but they want you to find it for them and serve it up on that first page so that they don’t have to go looking for it.

 

Whenever you interact with your consumers online, you have to understand their needs at that precise moment or else you may end up wasting the spend you have invested to try to get that view. This is true whether this is through a marketing message, through Google search, or someone looking at a room photo on a website.

 

So what can we do? At Expedia Group, we’re tackling this through various ways, including the investment in technology. Specifically, data science technology.

 

As the world’s travel platform, our interactions with the consumer give us millions of data points that we can leverage to understand what consumers’ intent is, and how best to assist them in their conversions. We are harnessing the power of our global platform to take these millions of data points, wrap supplier tools around them, and provide insights that matter for their businesses.

 

In other words, we’re providing our hotel partners with value in the way that can masterfully take data and apply it to deliver relevance.

 

So is the implication that the world belongs to the large platforms who can access masses of data on a global scale? Absolutely not.

 

Instead, what we’ve seen is the rise of two types of platforms. On one side, we have the largest players - like the Alibaba and Amazon of the world. On the other, we have those with such a super tight specificity that they can drive equal relevance without needing to rely on big data.

 

Over time, we’ve witnessed that it is not just the big platforms that will continue to excel, but equally a rise in niche players hollowing out of the middle.

 

The niche players have a specialism which, when marketed correctly, allows them to drive as equal relevance as ‘the biggest’. It’s where relevancy can narrow marketing spend in such a targeted way, that nothing is wasted.

 

Relevance is the common denominator between the big and niche, and a direct response to the demands of today’s highly particular consumer.

 

For global platforms, that’s about harnessing the power of data science and machine learning, but for the most niche, that’s about delivering a particular and highly specialised experience.

 

It might seem odd to think that consumers can be loyal and simply swing between both, when the offering is so vastly different. Again, it comes back to relevance. Get relevance right and, no matter which side of the spectrum you sit, you’ll be able to crack the intent factor that our technology-driven world demands.

 

1 1Stone Temple, “Mobile vs Desktop Usage in 2018: Mobile takes the lead”, April 27th 2018. AdWeek, IAB/PwC Internet Advertising Revenue Report, HY 2018

2 Five Retail Trends Shaping The 2018 Holiday Season and Beyond”, November 9th, 2018

Top 5 Reasons Businesses Are Shifting From Magento To Shopify

Although building an online business has been made simpler by the extensive use of the internet, maintaining its success is a journey rather than a destination. It involves critical decisions made a...

News Company - avatar News Company

Deliveroo appoints Laura Huddle as Head of Commercial in Australia

Leading online food platform Deliveroo has appointed Laura Huddle as Head of Commercial in Australia, as the platform continues to invest in building a strong and experienced local leadership team...

Sinead Harding - avatar Sinead Harding

The Most Successful Start-Ups in Australia

The future looks bright for Australia’s start-up sector. Cities like Sydney, Melbourne and Perth are beginning to be recognized as most popular Australian start-up hubs. More and more companies are ...

News Company - avatar News Company

Three important challenges small businesses face and how to fix them

Running a business can be hard, and sometimes, it can be harder than you think when first entering into this otherwise unknown world. Because of this, many small businesses in Australia are afrai...

News Company - avatar News Company

Here Are the Top Payroll Services For Small Business

Ah, payday. Employees are lining up to grab their checks and preparing for some serious weekend spending. Meanwhile, you're too busy with all the ins and outs of payroll management to join in on the...

News Company - avatar News Company

Arborvitae inks deal with national pharmacy chain

Arborvitae Health and Wellbeing has announced a significant new partnership deal with Blooms, The Chemist, which will see Aborvitae products being stocked across all 92 of the national pharmacy chai...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus


The Conversation

Politics

Prime Minister on the Alan Jones Show

ALAN JONES: Prime Minister, good morning.    PRIME MINISTER: Good morning Alan, how are you? Good to hear you back on the air.   JONES: Thank you. Thank you very much. Can I just - there's a lot...

Alan Jones - avatar Alan Jones

The Greens side with activists, not farmers

The Greens’ Agriculture Spokesperson, Senator Janet Rice, today made some disgraceful comments in relation to the Government’s tough new penalties for keyboard warriors who incite activists to inv...

Senator Bridget McKenzie - avatar Senator Bridget McKenzie

Scott Morrison interview with Alan Jones - 2GB

ALAN JONES: The Prime Minister's on the line from Melbourne, Prime Minister good morning. PRIME MINISTER: Good morning Alan ALAN JONES:  thank you for your time. I wish we had three hours but look...

Alan Jones - avatar Alan Jones

Travel

DEAL: Kids stay and eat for FREE these school holidays!

Take these school holidays to the next level with the ultimate family escape at PARKROYAL Darling Harbour. What’s more, kids under 12 years of age, can stay and eat for FREE! ...

Liana Gardy - avatar Liana Gardy

How to Book a Hotel for Your Vietnam Trip

Finding a travel destination may turn out to be challenging at times. You may have a long bucket list, which leaves you spoilt for choice on where to visit first. Going through travel blogs and site...

News Company - avatar News Company

New Allianz data reveals the ‘forgotten’ European countries attracting Australian travellers this winter

FROM SPAIN TO THE UKRAINE - THE SURPRISE EUROPEAN DESTINATIONS BOOMING WITH AUSSIE TOURISTS Australian travellers are seeking new destinations beyond the Mediterranean when it comes to European...

Media Release - avatar Media Release

ShowPo