Importance of Quality Data in Travel Distribution! Jim Barsch! COO, VacationRoost!
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1 Importance of Quality Data in Travel Distribution! Jim Barsch! COO, VacationRoost!
2 Who We Are Founded in Park City, UT in 2001 Leading Ski, Vaca;on Rental and Villa Wholesaler in North America Now serving 80+ des;na;ons worldwide Largest distributor of managed vaca;on rental inventory through direct and indirect channels 2! 2
3 Connecting Consumers with Vacation Homes! 3!
4 VacationRoost Distribution Channels!! B2C Travel Brands! VacationRoost.com! VacationRoost Brands! Travel Agents!!! B2B - Partner Services! Distribution Services! Reservations Services! Technology Services!! 4!
5 VacationRoost Brands! 5!
6 B2B Service Offering! 6!
7 pm: Understand the Importance of Keeping, Maintaining and Managing High-quality Data Sets Aggregate business and technology to obtain the most useful sources from ever-increasing volumes of data sets Gain commercial insights and reap the rewards from the increasing amount of unstructured data from different platforms and channels, such as social media, research, call center, blogs etc. Figure out what tools are best for your marketing, RM and e-commerce challenges to enable scalable, accurate, and powerful analysis of your data Understand the importance of keeping and maintaining high-quality data 7!
8 Problem Statement! Understand the Importance of Keeping, Maintaining and Managing High-quality Data Sets! Aggregate all your different data sources into one location! Tie all data back to sales and contribution! Make decisions on a granular scale that impact the business overall! 8!
9 The Past! Travel planning was hard,travel Agents were the source for information and purchasing Commissions were good for agents & distributors 9!
10 Change Begins! 10!
11 Travel Products Become a Commodity! Consumer Price Goal Supplier COD Goal Supplier Price Goal Distributor Margin Goal 11!
12 Why Does This Matter?! Cost of marketing increases rapidly Online PPC, SEM Offline Competition increases between suppliers and distributors for eyeballs on sites Communication and consumer functionality expands and increases Online Phone Web lead Chat Reduced Margins Increasing Marketing Costs Increasing Sales Expenses 12!
13 What to Measure?! Financial! Gross Sales! Net Sales! Product Margin! Net Margin! Contribution Margin! Performance! Online conversion! Offline close rates! 13!
14 Data Big Data! Multiple data sources! Online analytics! Call stats! ! Chat! Marketing data effectiveness! Click through! Open! Impressions! What was the result of money spent?! 14!
15 Three Large Sources of Data! Industry Internal Third Party TIA Smith ARC CVB / Tourism Etc. Sales/CRM DB Accounting DB Marketing DB Spreadsheets Analytics PPC Engines Ad Networks Phone systems 15!
16 Standard Operating Methodology! Industry Internal Third Party Analyze & compile Analyze & compile Analyze & compile Report Report Report 16!
17 Creating the Repository! Industry Internal Third Party Big Data Destination research Smith Research Deistimetrics DMO / CVB US Travel Association Brand USA 17!
18 Creating the Repository! Industry Internal Third Party Big Data Offline Data Phone System Technology API into internal database Tied to agent calls and CRM system Chat Internal Database(s) Customer data, product/inventory data, transaction data, online bookings, web leads/forms Accounting Software Bookings, revenue, refunds, commissions, spend 18!
19 Creating the Repository! Industry Internal Third Party Big Data Online Data Web Analytics Google & Other API PPC platforms Google API + Bing API Live chat software Ad Networks / Remarketing / Online Ads Affiliate/Partner Programs 19!
20 Creating the Repository! Industry Internal Third Party Big Data Reporting Data Cube 20!
21 Challenges With The Data! Is the data correct??! Offline data doesn t match online analytics! Duplication of data! Unintended data manipulation from systems! Logic that impacts other or more data than intended! 21!
22 Creating The Repository! Reporting Data Cube Phone System Technology Internal Database(s) Accounting Software Unique ID tracking system Web Analytics PPC platforms Live chat software Ad Networks / Remarketing / Online Ads Affiliate/Partner Programs 22!
23 Set It Up! Come up with a tight structured attribution hierarchy that encompasses all your possible sources of business (data)! Unique identifiers get assigned at the lowest level and roll up to larger buckets! Everything gets tagged! 23!
24 Examples in Practice! Booking Data Bad Example PPC w/ standard tagging Phone Call Web lead Online booking Analytics conversions Good Example PPC w/ unique identifier Phone Call Web lead Booking w/ unique identifier Booking w/ unique identifier Online booking Analytics conversions 24!
25 Examples in Practice! ID Dynamic Phone numbers Phone Call Booking w/ unique identifier unique identifier ID Automated call response Web lead Booking w/ unique identifier ID # ID Keyword level tracking Online booking Analytics conversions 25!
26 End Results! Sales, costs, contribution margin, booking data all tied to a single granular source of business! Can get full data down to keyword sets, single marketing campaigns, promotions, s, social media and more! Drives marketing roadmaps and decision making for all levels of the company! 26!
27 Keep it Simple! 27!
28 Cost of Acquisition YOY! 28!
29 End Results! Efficiency explosion! Sales Contribution % Acquisition Cost Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 29!
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