If you are a local convention and visitors bureau, do you ever worry about having a modest advertising budget in comparison to competing CVBs? According to a study from Kantar Media of over 2,300 CVBs:
- Approximately 51% of CVBs exhibit measured media spend of less than $10,000 per year.
- 51% is likely to be a low figure since Kantar lists only CVBs with measured media spend. There are many more CVBs that are not included in this report.
- Only 3% had annual measured media spend of $1 million or more.
In order to better understand the dynamics of user behavior in the sharing economy platform, a multi-stage study was conducted on how Airbnb hosts articulate themselves online and how consumers respond to different host self-presentation patterns. First, using text mining techniques on a large dataset consisting descriptions of Airbnb hosts in 14 major cities in the United States, two patterns of host self-presentation were identified. Hosts generally present themselves online as (1) a well-traveled individual, eager to meet new people or (2) an individual of a certain profession. This contributes to the conceptualization of profile as promise framework for online self-presentation in mixed-mode interactions involving peer-to-peer accommodation platform. Second, consumers respond to the two host self-presentation strategies differently, demonstrating higher levels of perceived trustworthiness in and intention to book from well-traveled hosts. This has direct strategic implications for effective self-marketing of “amateur” tourism players as well as for the role of residents as resources in tourism destinations.
Spain has jumped above the U.S. to become the second biggest tourist destination, according to new estimated figures. Despite facing a number of significant challenges in 2017, around 82 million tourists visited the country. The preliminary figure, which uses data for the first 11 months of the year and an estimate for December, would likely put it ahead of the U.S. and behind France in terms of overall numbers. Spain’s position as the official world number two looks almost certain because of the dreadful Trump slump year the U.S. is having. France, meanwhile, expects a year-on-year improvement.
Consumers are looking for experiences, and travel brands want to be their one-stop shop.
Skift recently identified its top Megatrends in Travel for 2018. The top trend is that travel brands want to be experience platforms. Online travel agencies were the first to disrupt the industry and empower consumers to take more control over their own travel experiences. As these companies began to grow, they became the precursors to the experience platform model that travel brands are striving to become—a place where consumers can plan/book almost every facet of his or her travel journey through one platform.
In addition to being intermediaries, brands wish to ensure great experiences—by curating content and harnessing big data and artificial intelligence to personalize the experience to make it that much faster, better and smarter.
TTRA update: latest OnlineFirst Articles for Journal of Travel Research for Nov/Dec 2017 are now available at http://bit.ly/2iE9Zwp