Some travel industry conferences are so much better than others and I’ve just returned from a zinger. The Association of Travel Marketing Executives met in Las Vegas last month, and I picked up several nifty nuggets of business travel intelligence that road warriors will see play out in the coming year.
Here’s a sampling:
Social media invasion. By far the hottest topic at this conference was the rapid rise in popularity of social media. When asked how they planned to reach more travelers when marketing and advertising budgets are getting slashed, nearly every presenter said their brands would be Facebooking, Twittering and blogging a lot more this year. Nobody seemed too sure how increased visibility in social media would translate into higher bookings or revenue, but nonetheless, the crowd was wowed by the new phenomenon. If you are reading this blog, you’ve already jumped on the social media wave, but if you’d like to go deeper, you can follow me on Twitter, too.
Who do you trust? Polls show that traditional media and travel agents are now considered less trustworthy than social media sites where travelers contribute personal stories and experiences.
Busy summer ahead. In a poll taken earlier this year, 47 percent of consumers said that they were going to trim their leisure travel spending in the coming year. Note that they said TRIM…not CUT. People are still traveling, but they are just spending less. (Example, Disney World is running at 89 percent full, but margins are suffering because guests are spending significantly less.) This means business travelers should brace for busy airports and full hotels during peak summer travel season despite the gloomy economy.
More electrons, less paper. 62 percent of travel companies say that they are cutting traditional marketing and advertising budgets this year. (Example: Orlando’s budget shrunk to $47 million this year from $68 million last year.) As a result, highly sought-after frequent travelers will see fewer TV spots or glossy magazine ads, and a lot more direct mail (and email), online ads and video, more social media involvement, and an attempt to reach you more often on your mobile devices.
I’d pay for that. A Forrester survey reveals that 43 percent of air travelers would be willing to pay more for guaranteed overhead bin space on the plane, 38 percent would pay more to guarantee a seat away from screaming babies, and 30 percent would pay for an in-seat power plug.
Tough times in Vegas. These are challenging times in the travel industry, especially for meetings and conventions in Las Vegas. As a result, Las Vegas is now one of the best deals for a meeting anywhere in the U.S., with four and five star hotels going for $100 a night (or less), cheap, frequent flights and a populace eager to please. Plus, Las Vegas has revived its clever “What Happens in Vegas, Stays in Vegas” campaign, so expect to see a lot more of that in coming months.
Chris McGinnis writes about business travel for Best Western’s You Must Be Trippin’ consumer travel blog.
{ 1 comment… read it below or add one }
I will take the “I will pay for that” category. For years people have said that they would be willing to pay for some extra room or for any number of things and when the airlines have experimented with such things, the reality is that people aren’t generally willing to pay extra.