The recession, it seems, is officially here judging by the # of reports on survival strategies. Companies typically take aim at the least-efficient channels at such times – online media are not really safe either. Big online companies invest in many channels to derive maximum returns – search, email, display, ad networks What are the best strategies for travel sites to deal with tigher pursestrings and leaner budgets?
– Invest in the most ROI oriented channels without completely consigning brand advertising to cold storage. People still do the things they like in a recession – travel, eat, shop and they still like to save money and get the most bang for their buck. A brand is a reassuring sign – a signpost for stability and hence not completely irrelevant in a tougher time
– Offer cheaper weekend vacations – Everyone needs a break from the endless cost-cutting! Weekend vacation deals give travelers a chance to cool it off without the intensive planning and costs associated with longer trips – Recession-proof vacations.
– Tune in for some fun and innovation – Look at unexplored avenues and still-in-the-works media. Google, for instance, is stepping up its mobile advertising initiatives – being an early adopter in new, trendy media while others are still figuring out their budgets has its advantages – new audiences, new formats and the ability to quickly scale up in good times.