Less than half of Americans have a passport. The same is true of around 25% of Brits and 98.5% of Chinese citizens. Whilst this tells us something about those without passports, it also points towards a much more valuable insight about those who do have one. If you can afford flights, hotels, car hire and the rest of the cost associated with going abroad, it’s likely that you’re an attractive customer for many brands.
Take business travellers as a segment. People who regularly travel in business class are twice as likely as the average person to earn in excess of $100,000 and are three times more likely to own homes worth in excess of $250k. They are twice as likely to be planning major technology purchases, four times as likely to have an investment portfolio in excess of $250,000, twice as likely to own a luxury vehicle and 3.5 times more likely to have spent more than $1,000 dollars online in the last six months. In short, they are a highly desirable target audience, not just in travel but across a wide range of consumer sectors.
The value of travel data is compounded by the fact that it has a number of features that aren’t found in other verticals. Firstly, travel purchases are complementary – if you buy a flight then you’re likely to book a hotel stay, a car rental, a dinner in your destination or possibly a gift for your spouse to apologise for going away on another business trip! Travel behaviours are also predictive – patterns are often repeated for regular family holidays, business meetings or other events. There is true scale with travel data too, as it provides insights across the global consumer’s different spheres of activity.
Additionally, many travel purchases take place online (approximately 60% in Europe according to Eurostat) meaning that there’s a huge amount of data available about these travel buys and these consumers.
The relative wealth of travel buyers, combined with their preference for online purchasing, means that travel data has emerged as a new and illustrative source of insight for marketers across every sector. Retail and financial services data have long been looked to for insights on segmentation and purchase plans. Travel search, booking and profile data are now beginning to emerge as an equally compelling source that helps provide a better understanding of consumers’ behaviour patterns.
Although travel marketers have increasingly been leveraging this data to speak to market travellers as well as those who have previously travelled, premium marketers in other verticals are now recognising the value of travel data. For example, high-end luxury retailers can use travel data to pinpoint individuals who are flying first class to Moscow, Dubai or London, enabling them to market themselves more effectively at key points on the travellers’ purchasing journey, as can a wireless operator marketing local data and voice plans before travellers go abroad. The richness of the data provides greater insights into consumers for marketers, helping them to deliver targeted messages to specific, high-value audiences.
By Elizabeth Harz, President of Media at ADARA.
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