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Tim Peter Thinks

Tim Peter

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May 15, 2019

What Good is Social in An AI-Driven World? (Thinks Out Loud Episode 246)

May 15, 2019 | By | No Comments

What Good is Social in An AI-Driven World? (Thinks Out Loud Episode 246): Friends sharing media on mobileLooking to drive results for your business? Click here to learn more.


What Good is Social in An AI-Driven World? (Thinks Out Loud Episode 246) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil PR40 Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Pro X for the Mac.

Running time: 16m 40s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

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May 10, 2019

The Hotel Marketing and Distribution Trend You Care About Most This Year

May 10, 2019 | By | No Comments

Looking to drive results for your business? Click here to learn more.


Hotel marketing and distribution: Why Google matters

Let’s talk distribution for a minute. Yeah, I know, distribution is one of the least sexy aspects of the hotel industry. It’s also one of the most important, especially for hotel owners and independent hotel operators. Hotel owners, operators, and brands looking for ways to reduce costs and increase profitability need to continue thinking about how they’re going to acquire guests in a cost-effective manner. Also, hotel marketing and distribution are joined at the hip. And the whole topic is about about to get much, much more interesting.

Why? What’s going on here?

In a word, it’s Google. Google is what’s going on here.

The Beast That Scares the 800-lb. Gorillas in Hotel Marketing and Distribution

Google isn’t the 800-lb. gorilla of the hotel industry. No, Google is a much larger and more ferocious beast that has all the industry’s 800-lb. gorillas running for cover. Google is stealing mindshare — and potential margins — from OTA’s and other intermediaries every single day. No less an observer than Expedia CEO Mark Okerstrom plainly stated that Google represents his company’s biggest competitor. In his words, “The internet has been littered with the bodies of companies put out of business by Google.” Okerstrom’s job is to make sure Expedia isn’t one of them.

Okerstrom is right. It’s no secret guests increasingly use Google as the first stop in their decision-making journey. And with recent integrations of Google’s artificial intelligence-powered, travel booking capable Assistant into Google Maps on Android and iPhones alike, expect even greater use of the search giant when guests plan their stay. There are over 3 million searches on Google every minute, with more than half of those on mobile and roughly 20% of those using voice. That’s at least 300,000 voices searches every minute, many of them targeted towards travel. Everyone’s scrambling for share, further driving up the cost of acquiring guests.

For example, Expedia, Booking.com, and others — OK, Expedia and Booking’s subsidiary brands and metasearch channels — recognize this shift, spending more on marketing and advertising with Google to drive more traffic to their direct channels. That’s a switch, huh? But it’s a fact. To drive traffic to its sites, Booking.com paid Google in Q3 alone last year somewhere in the neighborhood of $1 billion.

Nice neighborhood, eh?

At the same time, as Google increases the amount of metasearch and paid inventory in its search results page, it’s also driving up costs for individual hotel owners and operators. Worse, without solid connectivity solutions — which far too many independent hotels lack — hotels can be shut out of Google’s latest product offerings and miss out on direct revenue opportunities altogether.

How to Deal With Google’s Domination of Hotel Marketing and Distribution

So how can you ensure you earn your rightful place at the table and gain booking share without significantly increasing your cost of guest acquisition? Here’s how:

  • Develop a comprehensive distribution strategy that includes both search and metasearch. Search is a distribution channel. And the search landscape gets more and more challenging every day. SEO, paid search, voice search, metasearch, AI, schemas, and whatever else Google rolls out next can’t be considered in isolation. Each plays a role in driving guests towards your direct booking channels and in delivering flow-through — positive or negative — towards your bottom line. Similar thinking should shape your OTA agreements. Do your internal team, website development firm, and marketing agency understand how to best make these work together to deliver the lowest total cost of distribution for your property? This is critical question that your property must get right. Otherwise, you risk continuing to fund OTA’s bidding against you in search, driving up the costs of your hotel marketing and distribution, and further risking your property’s distinct value proposition.
  • Offer destination content to gain guests earlier in their decision-making journey. Data shows that guests who start their research on OTA’s book on OTA’s. I strongly suspect the same will be true for Google before long, most likely in the form of metasearch and partnerships. Already, Google displays a remarkable number of paid listings and metasearch results before getting to organic results. This is a huge problem for hotel marketers. Why? Well, to put it bluntly, guests who don’t come to your website never get the chance to book direct. It’s critical you use content about your destination to move deeper into the long tail of search, getting guests to your site early in the journey and for terms that aren’t flooded with paid/metasearch offerings already. Google’s AI-driven search results place significant value on quality content. Give them — and your guests — something worth finding.
  • Focus on increasing conversion rates on direct channels. Here’s a simple truth: It’s always going to cost you something to get guests to contact you. You’d damn well better make sure they convert when they do. It doesn’t matter whether guests come to your website or call your reservations line; every lost opportunity increases your cost. Take a close look at where your reservations come from, how effective your direct channels are at turning interest into action, and how to improve those results to get the best return on your spend.
  • Ensure your connectivity options support Google — and potential future competitors. Do your direct channels appear in Google’s metasearch results today? Or does your property only appear via intermediaries? The latter is a clear sign you’re paying more for reservations than you should — likely much more. Make sure your team is working towards placing your property’s direct channels front and center in metasearch on Google, as well as on other metasearch partners who offer the opportunity to challenge Google in the future. Or accept the fact that you’re always going to pay more for bookings than you should. But that doesn’t seem like a good long-term plan to me.

Conclusion

Distribution funnels through a limited number of chokepoints and gatekeepers. And, at least for the foreseeable future, the number of gatekeepers continues to shrink towards just one: Google. If Expedia worries about Google eating its lunch, you might want to given the search giant some thought too. And then you want to put those thoughts into action.

Google may be the beast that 800-lb. gorillas fear. That doesn’t mean it should scare you. Individual property owners and operators may not be 800-lb. gorillas. But unlike the big guys, they can run through the jungle much faster. Think about your hotel marketing and distribution strategically and you’ll be able to outrun the big guys for a long time to come.

Past Insights from Tim Peter Thinks

If you’re looking to learn even more about how changing customer behavior will shape your marketing going forward, be sure an register to receive a special report I’ve produced in conjunction with hotel marketing firm Vizergy, “Digital Hotel Marketing in a Multiscreen World.” While it’s targeted specifically at hotel and resort marketers, the lessons apply to just about any business. You can get your free copy of the report here.

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Finally, you might enjoy some of these past posts from Thinks to help you build your e-commerce strategy and your digital success:

A version of this article originally appeared on Hotel News Now as "The Distribution Trend You Care About Most in 2019"

Tim Peter

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April 23, 2019

Hey Marketers: Is 2019 Everything You’ve Hoped For? (Thinks Out Loud Episode 244)

April 23, 2019 | By | No Comments

Hey Marketers: Is 2019 Everything You've Hoped For? Marketer seeing success in annual resultsLooking to drive results for your business? Click here to learn more.


So, here we are with almost a third of the year gone. And, for marketers, it’s time to ask, “Is 2019 everyhing you’ve hoped for?” If not, it’s even more important to ask what you plan to do about it.

The latest episode of Thinks Out Loud takes a look at how to evaluate your progress so far this year — and what to do if you’re not where you’d like to be.

Here are the show notes:

Hey Marketers: Is 2019 Everything You’ve Hoped For? (Thinks Out Loud Episode 244) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil PR40 Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Pro X for the Mac.

Running time: 12m 43s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Tim Peter

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April 15, 2019

What Digitally Native Companies Do Best (Thinks Out Loud Episode 245)

April 15, 2019 | By | No Comments

What digitally native companies do best: Workers brainstorming new services for customersLooking to drive results for your business? Click here to learn more.



Many businesses struggle to keep up with the changes brought about by digitally native companies in their industry. But why are they so successful? What is it that digitally native companies do best? This episode of Thinks Out Loud offers some insights. Here are the show notes for you:

What Digitally Native Companies Do Best (Thinks Out Loud Episode 245) – Headlines and Show Notes

Subscribe to Thinks Out Loud

Contact information for the podcast: podcast@timpeter.com

Past Insights from Tim Peter Thinks

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Technical Details for Thinks Out Loud

Recorded using a Heil PR40 Dynamic Microphone through a Cloud Microphones CL-1 Cloudlifter Mic Activator and a Mackie Onyx Blackjack USB recording interface into Logic Pro X for the Mac.

Running time: 18m 33s

You can subscribe to Thinks Out Loud in iTunes [iTunes link], the Google Play Store, via our dedicated podcast RSS feed )(or sign up for our free newsletter). You can also download/listen to the podcast here on Thinks using the player at the top of this page.

Katie Peter

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April 3, 2019

Tim Peter Appears in new Tech Trends Ebook

April 3, 2019 | By | No Comments

Tim Peter, president and founder of Tim Peter & AssociatesCustomer data platform ARM Treasure Data has released an ebook this week on technology trends and the way they will impact the future of marketing. Early in the book they talk to our founder and president Tim Peter about something most businesses seem to have trouble with: effective use of data. The ebook focuses on data as the foundation of marketing technology and speaks to multiple experts on its use. Tim Peter addresses the importance of personalization:

The biggest challenge I’ve seen is that marketers struggle connecting their data directly to customer actions. Too many personalization platforms rely on rules-based engines or underpowered analysis tools that require you to first understand (or, worse, guess) what’s important to customers before you can apply it to gain useful insights.

He goes on to explain how and why you should work on improving this, which you can find in ARM Treasure Data’s ebook here.


If you’re looking to learn even more about how changing customer behavior will shape your marketing going forward, be sure to register to receive a special report I’ve produced in conjunction with hotel marketing firm Vizergy, “Digital Hotel Marketing in a Multiscreen World.” While it’s targeted specifically at hotel and resort marketers, the lessons apply to just about any business. You can get your free copy of the report here.

You might also want to check out these slides I had the pleasure of presenting recently about the key trends shaping marketing in the next year. Here are the slides for your reference:

Finally, you might enjoy some of these past posts from Thinks to help you build your e-commerce strategy and your digital success: