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!