Why travel marketers need to embrace brand value exchange
June 14, 2012 | Hotel Marketing
Summer is travel season, and when it comes to picking their hard earned vacation, consumers are increasingly turning to digital platforms to help them make decisions. So how can marketers in the travel space tap into this consumer need for travel information and, ultimately, connect with consumers to ensure their destination or venue wins out?
To be successful, brands should look beyond basic awareness campaigns and focus on creating genuine value for their consumers. We call this concept a “Brand Value Exchange,” and it’s based on the premise that if brands provide something of value to consumers, they’ll naturally be inclined to return the favor with their attention, intent to purchase, and loyalty.
Value to consumer can be delivered in many forms, but can essentially be grouped into three basic categories: Community Value, Utility Value, and Entertainment Value. To illustrate how each approach can be applied to the travel industry, let’s look at several brands that are applying the principles of Brand Value Exchange to their digital initiatives today.
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