July 19, 2018
Expedia says packages are better for hotels than room-only
Hotels are achieving higher average daily rates (ADR) from consumers who book packages rather than just rooms, according to data from Expedia Group.Read more
The implication is that most companies have their marketing backwards. Instead of pushing deals and incentives, the most important marketing occurs after the sale.
A landmark research report from McKinsey revealed how outreach of consumers to marketers has become dramatically more important than marketers’ outreach to consumers.
Marketing used to be driven by companies - “pushed” on consumers through traditional advertising, direct marketing, sponsorships, and other channels. At each point in the funnel, as consumers whittled down their brand options, marketers would attempt to sway their decisions. This imprecise approach often failed to reach the right consumers at the right time.
Today, customers are driving the decision journey.
Consumers have seized control of the process and actively “pull” information helpful to them. The research found that two-thirds of the touch points during the evaluation phase of a purchase involve human-driven marketing activities like Internet reviews, social media conversations, and word-of-mouth recommendations from friends and family.
Get the full story at Schäfer Marketing Solutions and McKinsey & Company
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