10 MUST-HAVE MARKETING TECHNOLOGY STACK FOR YOUR B2B TECH

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Still think your current martech stack doesn't need an upgrade? Think again. 2019 is gradually coming to a close and marketing channels have shown no signs of slowing down. If you’re a marketer who’s part of a technology-dominated industry, you know well that it’s no longer a bonus to be technologically savvy in this day and age. To ensure customers don’t just drop out of your funnel you need to test drive every efficient alternative to get the job done. A study by Gartner reveals that marketing technology is now the largest portion of the total marketing budget. Putting together a modern technology stack is no joke – especially when every business varies in shapes and sizes. It’s crucial to realize that as marketing departments, we each have functions, needs, and goals. To ensure that your performance scales in 2020 and beyond, you need a proper stack and a diverse set of tools that are perfectly aligned with your marketing structure.

Spotlight

Valor Hospitality Partners

Valor Hospitality Partners is a full service hotel management, acquisition and development company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, pre-opening hospitality management and operations management. Valor Hospitality Partners is a proven hospitality management company driven by excellence and achievement of top and bottom line targets. Our on-time/on-budget ethos, combined with our willingness to invest directly in projects, ensures we are aligned with owners and investors. As a comprehensive services provider, Valor Hospitality Partners can also plan and oversee the refurbishment and renovation of existing properties and assist ownership in positioning.

OTHER ARTICLES
TRAVEL TECHNOLOGY

Leveraging AI English Language Training Tools to Address Travel Surge

Article | July 7, 2022

Following the relaxation of travel restrictions worldwide, the travel and hospitality industries are bracing for a surge in demand, which will be exacerbated by the upcoming holiday season. As widespread delays and cancellations become more likely, companies like airlines are looking for new ways to put customer experience first. In a global workplace, not being able to speak more than one language, especially English, can hurt productivity and customer service. For this reason, people who work with customers need to have good communication skills. Investing in AI English Language Training Tools Traditional training for staff in the travel and hospitality industries requires in-person sessions. It can be expensive and impractical because employees have tight work schedules and staff operates in different time zones. AI app-based training alternatives solve these key issues, allowing employees to learn "on-the-fly" whenever possible. Digital training alternatives can provide greater levels of personalization for task assignment and user feedback. This individualized approach to staff development is difficult to replicate in large in-person sessions. Because all tasks are given and done digitally, management teams can track each user's progress and how well training is going for the whole department. Offering Excellent Customer Experience English communication is vital to offering an excellent customer experience and long-term profitability as the travel industry recovers. Artificial intelligence-powered English language training solutions stand out from the crowd. This technology has the potential to constantly advance and improve over time, thanks to its own learning community. Ed-tech learning tools that incorporate future-proofed AI technology will enable providers to confidently invest in training, increase staff engagement, and provide best-in-class customer experiences to global travelers. As a result, companies in the travel and hospitality industries that put communication skills training at the top of their list of priorities and speed it up can increase customer loyalty and stay competitive with other market leaders.

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COMMERCIAL TRAVEL,INDUSTRY OUTLOOK

Crypto Tourism: A Quick Guide

Article | July 13, 2022

Cryptocurrencies have skyrocketed in popularity in recent years. They have progressed from a speculative asset class to one gaining widespread mainstream acceptance. And it's not just retail investors who are interested; cryptocurrencies are finding applications in various industries, including tourism. Yes, the travel industry, like many others, has warmed up to these virtual digital assets. It has even spawned a new type of operation, namely crypto tourism. Introduction to Crypto Tourism Crypto tourism is categorized into two broad groups: the first has tours and travel packages purchased with cryptocurrency. Emirates Airlines, the biggest airline in the UAE, has said it will soon accept bitcoin as a form of payment. Air Baltic, a Latvian airline, has also been accepting bitcoin for a long time. The second type of crypto tourism is trips and travel packages where crypto conferences, classes, or lectures are a big part of the schedule. You might not understand why someone would take a vacation to go to a lecture or learn about blockchain. Well, most people don't go on vacations like these. Instead, they focus on entrepreneurs and crypto fans who want to network, meet people with similar interests, and discuss business ideas. In addition to the usual sightseeing and relaxing, these crypto trips include talks by well-known speakers and industry veterans. Limitation and Scope Crypto tourism is a small market with few options, and only a small number of travel partners accept crypto payments. Also, the people who put on some crypto trips often use these events to sell ICOs and do other marketing. However, crypto tours are great for people who want to learn about cryptocurrencies, meet others interested in the same things, and relax. They are also great if you want digital money to pay for your trip. Then, you don't have to worry about currency exchange rates or losing cash. A Different Reality Crypto tourism might be niche, but it is a new reality in the travel industry. It allows safe transactions and innovative tours, which many businesses are keen about.

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AIRLINES AND AIRPORTS

Smart Airports: Hassle-free Air Travel & Revenue

Article | July 12, 2022

Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace. The Emergence of Smart Airports Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT). Advantages of Smart Airports Real-time data improves operational efficiency. Cost reduction, productivity improvement, and operational perfection. Demand optimization through passenger flow control and entry automation. Improved passenger handling, flight control, check-in, etc. Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security. Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.). The Revenue Angle A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study) Traveler’s & Airport Operations Experience A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart. Creating a Smart Airport: The Checklist A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps: Selecting an IoT solution that aligns with your business goals Determine the organizational and technical abilities required to implement the solution Craft a road map to address gaps between the required abilities and existing abilities

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TRAVEL TECHNOLOGY

Big Data In Travel: Triggering Business Transformation

Article | July 7, 2022

Global travel agencies are striving to maintain a competitive edge in the market. They are relying on big data to analyze the current state of the market, automate work processes, and better understand customer needs to streamline their businesses. Big data is now an important part of the future of the travel industry because it helps: Accurate decision-making Customer demand forecasting Service personalization Travel marketing Optimization of pricing strategies How is Big Data Sourced? The following data sources are used to gather big data: UGC Data User-Generated Data (UGC) is the most affordable data to obtain and includes textual data gathered through questionnaires, social networks, and image data. Device Data Device data gives access to GPS data, mobile roaming data, bluetooth data, RFID, WiFi data and more. This data is harder to obtain and is expensive. Transaction Data Web search data, web page visit data, online booking data, etc., constitute transaction data. Advanced web services such as Google Analytics can help collate this data. The sourced data is analyzed using artificial intelligence, machine learning, and natural language processing (NLP). How Is Big Data Changing the Way Travel Companies Operate? With the help of big data, you can increase your performance, get deeper customer insights, and offer an excellent customer experience to travelers. Let us briefly examine how big data can help you achieve all these objectives. Optimize Your Revenue Optimize your costs and accurately predict short-term and long-term revenues. Through customer experience metrics, you can also analyze your profit potential, correctly forecast peak period demand and offer relevant services to customers at the right time. As a result, protect your agency from unexpected expenses and make the most of customer demand. Recognize & Capitalize on Trends Historical, real-time data and a standard analytical approach help you understand the changing trends in the tourism industry. Then, you can swiftly take measures to adapt to these changing trends and capitalize on the ones that contribute to revenue. Bleisure is an excellent example of such a travel trend. Improve Your Marketing Campaigns Big data processes large amounts of information on your target audience and helps you see which marketing campaigns can succeed based on long-term forecasting. Consequently, you can prevent any unexpected losses while executing seasonal marketing campaigns. Additionally, big data collects information on your competitors and target audience in real-time, so you know the kind of marketing campaigns you need to execute to remain ahead in the race. Enhance Brand Reputation Big data considers customer reviews and comments to help you understand which aspects of your business need improvement. Internally collected feedback and big data analysis can create a standard to improve the brand reputation of your agency. Conclusion Big data in the travel industry is more than just a trend; it is a tool for better understanding the market situation and each customer in general (potential and existing). All of this lays the groundwork for a more personalized approach and accurate prediction of what customers want, and contributes to an elevated customer experience and an increase in revenue.

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Spotlight

Valor Hospitality Partners

Valor Hospitality Partners is a full service hotel management, acquisition and development company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, pre-opening hospitality management and operations management. Valor Hospitality Partners is a proven hospitality management company driven by excellence and achievement of top and bottom line targets. Our on-time/on-budget ethos, combined with our willingness to invest directly in projects, ensures we are aligned with owners and investors. As a comprehensive services provider, Valor Hospitality Partners can also plan and oversee the refurbishment and renovation of existing properties and assist ownership in positioning.

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TRAVEL TECHNOLOGY

New Sojern Report Shows Travel Marketers' 2021 Plans for Digital Advertising

Sojern | August 25, 2021

Sojern, a leading provider of digital travel marketing solutions, today published a new report titled, “How Travel Marketers Are Activating Digital Advertising in 2021.” Worldwide Business Research (WBR) Insights surveyed senior decision makers in Asia-Pacific, Europe, North America, and Middle East and Africa who own the marketing budget for a hotel, attraction or tourism brand. These 300 travel marketers shared key challenges faced as a result of the COVID-19 pandemic, which has led them to test new solutions, innovate with new messaging, and generally do more with less. “The last 18-months have been quite the rollercoaster for travel marketers navigating the global pandemic, but one thing is clear: travel marketers are more focused than ever before on effectively and efficiently spending precious resources to drive a business return,” said Noreen Henry, Chief Revenue Officer, Sojern. “In this environment you need to be agile, data-driven and optimistic—travel is coming back and it’s a great time to take part in that recovery.” Key findings of travel marketers surveyed include: 56 percent agree that the current environment is ideal for direct response campaigns. Travellers are booking directly because of clearer cancelation or refund policies, coupled with their frustrating experiences navigating online travel agency (OTA) reimbursements for cancelled trips. 88 percent have increased or kept their digital advertising strategy budget the same since COVID-19. 87 percent tightened spending on brand campaigns and increased spending on performance campaigns in 2020. 84 percent rated machine learning and artificial intelligence as top priority for personalisation across channels. Consumers are eager to travel, and with the increasingly widespread administration of COVID-19 vaccines, the hard hit travel, media, and entertainment industries are all expected to rebound in 2021. The upward swing is already under way, with a surge in domestic and regional tourism, as newly vaccinated consumers exercise the option to travel within their own borders.

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TripAdvisor debuts self-service ad platform

Mobile Marketing Magazine | November 20, 2019

TripAdvisor has launched its first self-service advertising platform, enabling small and medium-sized businesses and agencies to take control of their cross-platform ad campaigns on the travel and restaurant reviews platform. The TripAdvisor Media Manager enables advertisers to build their ads directly within the platform, where they can upload their own creative, set their own campaign budget and schedule, and monitor results and adjust as they see fit. Businesses can also utilise three targeting options – including user location, browsed locations, and recent travel planning activities – to reach consumers with their content. “We’re excited to enable local and small businesses to easily and quickly create and upload their own campaigns that they can push live on TripAdvisor in a streamlined way. The real benefit is the ability to quickly grow a business by reaching nearly 460m loyal, engaged and connected travellers who want to hear from brands that are relevant to them,” said Christine Maguire, vice president of advertising revenue for TripAdvisor.

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TRAVEL TECHNOLOGY

New Sojern Report Shows Travel Marketers' 2021 Plans for Digital Advertising

Sojern | August 25, 2021

Sojern, a leading provider of digital travel marketing solutions, today published a new report titled, “How Travel Marketers Are Activating Digital Advertising in 2021.” Worldwide Business Research (WBR) Insights surveyed senior decision makers in Asia-Pacific, Europe, North America, and Middle East and Africa who own the marketing budget for a hotel, attraction or tourism brand. These 300 travel marketers shared key challenges faced as a result of the COVID-19 pandemic, which has led them to test new solutions, innovate with new messaging, and generally do more with less. “The last 18-months have been quite the rollercoaster for travel marketers navigating the global pandemic, but one thing is clear: travel marketers are more focused than ever before on effectively and efficiently spending precious resources to drive a business return,” said Noreen Henry, Chief Revenue Officer, Sojern. “In this environment you need to be agile, data-driven and optimistic—travel is coming back and it’s a great time to take part in that recovery.” Key findings of travel marketers surveyed include: 56 percent agree that the current environment is ideal for direct response campaigns. Travellers are booking directly because of clearer cancelation or refund policies, coupled with their frustrating experiences navigating online travel agency (OTA) reimbursements for cancelled trips. 88 percent have increased or kept their digital advertising strategy budget the same since COVID-19. 87 percent tightened spending on brand campaigns and increased spending on performance campaigns in 2020. 84 percent rated machine learning and artificial intelligence as top priority for personalisation across channels. Consumers are eager to travel, and with the increasingly widespread administration of COVID-19 vaccines, the hard hit travel, media, and entertainment industries are all expected to rebound in 2021. The upward swing is already under way, with a surge in domestic and regional tourism, as newly vaccinated consumers exercise the option to travel within their own borders.

Read More

TripAdvisor debuts self-service ad platform

Mobile Marketing Magazine | November 20, 2019

TripAdvisor has launched its first self-service advertising platform, enabling small and medium-sized businesses and agencies to take control of their cross-platform ad campaigns on the travel and restaurant reviews platform. The TripAdvisor Media Manager enables advertisers to build their ads directly within the platform, where they can upload their own creative, set their own campaign budget and schedule, and monitor results and adjust as they see fit. Businesses can also utilise three targeting options – including user location, browsed locations, and recent travel planning activities – to reach consumers with their content. “We’re excited to enable local and small businesses to easily and quickly create and upload their own campaigns that they can push live on TripAdvisor in a streamlined way. The real benefit is the ability to quickly grow a business by reaching nearly 460m loyal, engaged and connected travellers who want to hear from brands that are relevant to them,” said Christine Maguire, vice president of advertising revenue for TripAdvisor.

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