To take off in a post pandemic world, companies can tailor their marketing strategies to consumer preferences.
As parts of the world emerge from the pandemic, travel and transport companies are bullish on the prospect of a rebound in consumer demand. Of the industries hit hardest by Covid-19, advertising spending in 2021 could increase 28% year-over-year for travel, compared with 15% in media and entertainment, and 5% in retail.
Historically, however, airlines, hotels, cruise companies, and travel intermediaries have struggled to make the most of their marketing budgets. They miss opportunities to delight customers by relying on “one-size-fits-all” offerings, deploy digital marketing assets ineffectively, and fail to deliver a seamless user experience.
These uniform marketing strategies often fall flat because they don’t address the differing needs, behaviors, and attitudes of consumers. A Google survey of 1,990 travelers found that different consumer segments share specific preferences for accommodations, destinations, transportation, budget, and more. Evaluating consumers on five factors, Bain has identified five traveler archetypes.
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