How can brands successfully fuse first- and third-party data to target campaigns more accurately?
The traveller: a valuable consumer
Travellers are a self-selecting group of consumers with money to spend. If you can afford flights, hotels, car hire and the rest of the costs associated with going abroad, it’s likely that you’re an attractive customer for many brands. This view is validated by figures from PhoCusWright’s US Consumer Travel Report from August 2014 which found that 93% of consumers with a household income (HHI) of more than $150,000 have travelled in the past twelve months compared to less than half of those with an HHI of less than $50,000.
In the UK an incredible 80% of business travellers do at least half of their consumer spending online and they spend much longer consuming their media online.
David Morrow, Marketing Director, EMEA, Adara
In addition to spending power, travellers are digitally savvy. There has been a rapid growth in online travel bookings. Across the EU there has been a 33% increase in online bookings since 2011 with 58% of bookings across Europe now made in this way. Of these, mobile apps are also claiming major market share with and an 82% uplift in mobile bookings alone between 2013 and 2015. This is a significant benefit for brands and agencies as it has made travel data much easier to access in real-time creating a more comprehensive picture of travellers as consumers. This means advertisers can better understand and identify key audience segments within this group, regardless of their location.
Whilst transactional travel data is undoubtedly the Holy Grail for travel advertisers due to its unique properties – it’s connectable with travellers making multiple purchases for every trip and it’s predictable with patterns in the data identifiable over time – it is also incredibly valuable to advertisers from other verticals. It enables brands and agencies to identify consumers with a higher propensity to purchase.
In a recent research study, ADARA used a combination of face to face interviews with business travellers, an online survey of 1200 travellers in the US and the UK and detailed analysis of our own travel data to build a holistic picture of the business traveller as a consumer. We wanted to study the behaviour of business travellers both up in the air and on the ground. We analysed their searching and booking habits for both business and leisure travel, their media consumption, and their consumer spending across finance, tech & telco, luxury retail and automotive.
It transpired, perhaps unsurprisingly, that business travellers are incredibly valuable consumers. Business travellers, for example, are more inclined to have a premium credit card or purchase high-end retail goods, to be in the market for a new car or to have a portfolio worth more than $250,000. In the UK an incredible 80% of business travellers do at least half of their consumer spending online and they spend much longer consuming their media online.
Whilst the business traveller is clearly a desirable target market for many brands we also identified two additional groups, Elite travellers and Ultra Travellers who display even more attractive consumer behaviours. To find out more about the consumer behaviours of this unique set of people and more importantly, how to reach them, join ADARA at the Digital Agency Masterclass on Tuesday 28th April.