Tripology!

This is Part 2 of Presentations in Prague and London:

EyeforTravel’s Travel Technology Summit in London during World Travel Market: Analyzing Key Travel Trends Through Unpredictable Times

My presentation in London was entitled: Analyzing Key Travel Trends Through Unpredictable Times.

This presentation focused on KPIs or Key Performance Indicators; metrics that allow you to track how your business is doing.  Traditionally, travel folks did this at a very high level; tracking only gross profits with the more sophisticated folks tracking net profits.

However, in today’s online world with all the different activities we’re all doing, you have to get more granular than this.  Here are the key metrics we track:

The Top 7 Key Metrics Tripology Tracks:

1.     Site Entry

2.     Trips Verified

3.     Conversion Rate

4.     Agents Registered

5.     Leads Sold (to one, two and three agents)

6.     Average dollar revenue per trip

7.     Monthly sales. 

8.     Plus, there are some others as well, but I don’t want to give away the store.

With respect to conversion, we don’t just track how many people filled out a trip request, we track how many people get through each phase of our trip request processes including the lead-to-sales portion and only then do we look at the overall conversion.  This is my point, you have to look at each piece of the puzzle; you can’t just look at it overall.  It has less meaning that way and it is harder to identify problems.  Any online process has within it, various points of exit, intended or not.  When do people, as we say in technology, bail on your process?  When have you asked too many questions so that people decide your “streamlined process” isn’t streamlined at all?

Getting someone to do what you want online is tricky business. You can’t just track start and finish, you have to track every step of the process to understand the whole.

Happy tracking!

Presentations in Prague and London

Standing Room Only for John Peters at EyeforTravel, Prague

Standing Room Only for John Peters at EyeforTravel, Prague

 

In the past month, I’ve had the honor and pleasure at speaking at two conferences in Europe.  First, EyeforTravel’s Sales & Marketing in Travel Summit in Prague and then EyeforTravel’s Travel Technology Summit in London during World Travel Market.

I’ve always been a big fan of attending overseas shows, especially when it comes to travel and technology.  Getting another perspective about what you do all day long is quite refreshing.  Not only are the presentations interesting and informative, but I find the networking opportunities fascinating. 

As an example, at one particular lunch, I was sitting with the VP of Sales and Marketing for one of Israel’s largest hotel chain, the Director of a UK based travel technology consulting firm and the Director of a marketing consulting company from Russia.  You can imagine, the conversation was anything but boring.

It’s always so interesting to hear other people’s point of view.  The overseas folks are hungry to hear our opinions and trust me, they have many of their own (especially when it comes to our politics). In the US, we forget how our politics impact the world. The good news, is that when it comes to “Search” and “Analyzing Key Trends”, my two topics, my foreign counterparts were all ears.

Many people asked for my presentation notes or even my PowerPoint presentations, so I thought you might appreciate reading the highlights of the presentations in nice, simple bullet format.  I’m going to break this post into two parts.

EyeforTravel’s Sales & Marketing in Travel Summit in Prague: Smarter Search Strategies:

In Prague, my presentation was titled: Smarter Search Strategies.  The presentation was a bit technical for sure, but following are the highlights:

With search, getting the basics done right is easier said than done.   

TOP 5 Most important things when it comes to Search.

1.     Site Taxonomy:  This is your roadmap.  Does it look like a clear logical path with all your pages and topics in nice neat order or does it look like a bowl of spaghetti?  At the end of the day, you have to make it easy for Google and Bing to understand your content.

2.     Internal Linking: Internally, pages should like to other relevant pages.  Again, everything has to be in clear order.

3.     Title and Meta Description Tags: OK, everyone knows about this and how each page is labeled and titled.  This, no doubt, is important.  But, did you know that these descriptions, done alone, are minimally effective?

4.     H1, H2:  These are your heading tags.  They have to confirm the title tags.  Don’t overdo it though, concentrate on one topic for the page.

5.     Keyword Density: Make sure to your primary page keyword (in title, h1, description, URL already) appear 3-5 times on a page within the content.

Most people/companies, unfortunately concentrate on the Title and Meta descriptions, but honestly, these items alone, while important, don’t do much of anything if that’s all you do.  Further, the list is mentioned in order of important.  Okay, enough of that boring stuff.

The other main topic I covered was conversion.  Everyone with a website wants more visitors.  That’s all they talk about.  Rarely however, do they put as much time into traffic conversion.  Here’s the point, if you get one hundred people a day to come to your site and one person makes a booking, you’ve achieved a one percent conversion.  Most people then try and figure out how to get two hundred people to come to the site.  That’s a fairly expensive proposition.  My point of view is that you’re better off trying to figure out how to get more people to buy from you.  If you can increase the conversion from one person making a booking to two people or heck, even five people, you’ve made amazing improvement and it didn’t cost you any more marketing money.

There are dozens of ways to attack this problem, however, I’m simply saying it’s easier to work on increasing sales from existing visitors than to increase the number of visitors overall.   Don’t get me wrong; as you scale your business, you need to do both. Remember however, not all traffic is created equal.  You need to know your conversion rates for each category of traffic (paid, organic, affiliate, etc.).

Part 2 of this post, on the WTM and EyeforTravel in London, will be uploaded later this week.

November 17, 2009

Exciting News at Tripology

Central Holidays Becomes a Tripology Travel Industry Supporter: http://bit.ly/AETRn

Are you taking advantage of free leads from industry suppliers?  Get started now: http://bit.ly/Tp59z

At Tripology, we’re constantly telling our Tripologists to consider what consumers are listing as their travel budgets when investing in travel leads, but to also realize that many consumers don’t know how much a particular trip will cost and need the assistance of a travel specialists to help determine that.

We just received the following quote from one of our Tripologists in response to a courtesy email that helps prove this important point, and I thought I’d share it with you:

“What is interesting is that the last couple of Tripology leads that have converted to sales have disregarded their stated budgets and gone way over in order to get what they wanted.  When I purchase a lead, I take into account the stated budget, but that alone does not determine whether I purchase the lead, as I know that people will almost always find a way to spend what is necessary to enjoy the trip they anticipate.  Frankly, some consumers even know that they have no idea what the budget should be and just put something down to get their travel lead submitted.  That is why I consider other information besides budget when selecting a Tripology lead (ages, comments provided, destinations).” - Loretta Lamberth, Georgia

It’s up to you, the travel specialist, to educate the client about the costs of their dream vacation.  We find that consumers who use Tripology are looking for a great travel experience and know, and want, the help of a true expert to get them there.

Tell your friends! Become a Facebook “Fan” of Tripology by 11/15/09 & be entered to win a $250 Visa Gift Card! For details:http://bit.ly/3JHuYA