What sticks around in a recession

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.

Published by

Vijay Dandapani

Co-founder and president of a New York based hotel company for 24 years. Grew the firm to five hotels in Manhattan and also developed a greenfield project at MacArthur airport, New York. Speaker at numerous prestigious forums including Economy Hotels World Asia, Lodging Conference, NYU, Columbia University Real Estate Roundtable, Baruch College's Zicklin School and ALIS. President and ceo of New York City Hotel Association since January 2017.