American Travel Firm Sees Reduction in Cost Per Booking
Genius Monkey conducted a case study on a world-class North American travel industry conglomerate. The company laid out their goals to Genius Monkey, which included:
- Lower cost per booking
- Increased quality of targeted traffic
- Elevated conversion rates
The marketing team reviewed the goals and formulated an effective advertising strategy. By implementing Genius Monkey's programmatic platform, the team redefined the digital marketing budgets to a more holistic approach. They also increased the number of ads being seen by more specifically-targeted visitors, and they were able to do it at a lower cost than the travel company's previous marketing strategy.
This targeting success was a result of Genius Monkey's examination of several factors that were used to locate and reach out to specific consumers-in this case, those whom were most likely to utilize the services of the travel company. These factors included demographics, psychographics, offline behaviors, precise geographical areas, keyword searches, websites previously visited and even emails from competitors. A large degree of Genius Monkey's effectiveness in targeting such specific audiences can be attributed to the partnerships they have developed with such a vast number of behavioral database operators.
Throughout the campaign, Genius Monkey constantly conducted multivariate testing to the ads, as well as specific pages of the website to which the traffic was being driven. This was in order to further capitalize on incoming traffic and maximize the effectiveness of the campaign. Because the marketing industry is continually changing, factors such as total leads, total calls, total gross sales and market share must be constantly monitored so that the client gets the most out of each ad dollar spent.
The modified advertising plan that was put into action by Genius Monkey paid off immensely. According to the year-over-year comparison, the cost per booking was decreased by over 73%, and the total bookings were increased by 8.5%. The conversion rates were also affected, resulting in an increase of 33.9%. In addition, the open rate of the current email newsletter was increased by a substantial 127%, and the click-through rate was elevated by 23%.