Show Me The eMoney!

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Information about Show Me The eMoney!

Published on May 14, 2008

Author: nguyenht

Source: slideshare.net

Description

This was my presentation on where Millennium & Copthorne Hotels' online/ecommerce revenue is coming from. This was at the first ever Web Wednesday Singapore on March 20, 2008.

Web Wednesday Singapore: A Gathering Of Like-Minded Web-Spinners

Show Me The eMoney! Joe Nguyen, Director - Global eCommerce BLOG: http://ecommerceforhotels.blogspot.com 2

Why Is The Online Marketplace Important For Hotels?  In the US, 22%, 25%, 28% of all hotel bookings will be made online in the years 2005, 2006 and 2007. Another 1/4 of hotel bookings will be influenced by the Internet, but done offline (call Centre, walk-ins, group bookings, etc). This figure includes Online Travel Agencies (OTA) as well as direct-to-brand business. - Source: PhoCusWright US Online Travel Overview Dec 2006.  By the end of 2010, over 45% of all hotel bookings will be completed online - Source: Merrill Lynch 3

BUT - Where is it coming from? Meta- Corporate search Website Blogs Sites OTAs Search Hotel Engines Social Website Networks 4

What Is The Online Consumer’s Buying Cycle? SHOP PURCHASE 5

How does Web 2.0 affect the online consumers’ buying cycle ?  Firstly, WEB 1.0 - what did IT mean?….. TRANSPARENCY  Consumers are going direct to suppliers, and businesses are going direct to each other  Traditional intermediaries (like travel agents) got sidelined by airlines and hotels.  Information is at the hand of the consumers and end users giving rise to ebay, amazon, and expedia  Consumers have more information and more choices; they can SHOP much easier  WEB 2.0 means INCREASED TRANSPARENCY  Not only will end-users see a company’s product, but they will also have a better idea of how it performs BEFORE they purchase  They can compare and contrast a hotel’s rates offered across online channels (online direct vs expedia vs cheaphotels.com vs telephone booking)  They will know which rooms has a nice view and which room is “haunted”  Consumers can RESEARCH much easier and better 6

What Is The Online Consumer’s Buying Cycle NOW?  With the web, research is now easy, quick, and immensely insightful RESEARCH  Previously, this research was offline or at best SHOP going to the hotels’ websites or OTAs sites.  Web 2.0/Travel 2.0 PURCHASE provides a lot more information than before 7

Research Then SHOP  How do consumers shop once they have done their Research? RESEARCH  What tools do they use?  Where do they go? SHOP PURCHASE 8

How Do Consumers SHOP? Direct to Websites Direct Internet Booking Engine Up to 90% Via Corp Site Search Engines Inventory CRS/PMS Hotel Site CRS/GDS/ Extranets OTAs Users 9

Search Engine Results Page (SERP) Google reported revenues of $11.77 billion for the first 3 quarters of 2007, representing a PPC 59% increase the first 3 quarters of 2006 revenues of $7.40 billion.  Google-owned sites generated revenues of $7.50 billion, or 64% of total revenues, PPC  Google's network generated revenues, through AdSense programs, of $4.15 billion, or 35% of total revenues  Revenues from outside of the United States totaled $5.83 billion, representing 47% of total revenues of the first 3 quarters of 2007 SEO 10

M & C Traffic Breakdown - 2007 Graph 11

Where Is The eMoney? Direct to Websites Direct Internet Booking Engine Up to 90% Via Corp Site Search Engines Inventory CRS/PMS Hotel Site CRS/GDS/ Rateview/tiger OTAs Users Search Engine Marketing = eMoney 12

Web Wednesday: A Gathering Of Like-Minded Web-Spinners

Evolution of Online Travel Share - HRN launches - TripAdvisor Founded Hotels.com - IAC buys - Orbitz Founded - Travelocity goes TripAdvisor - Travelocity merged back to Sabre - Cendant buys with Preview Travel Orbitz - Travelport formed; includes Orbitz & - Expedia spins - USA Networks >> Octopustravel - USA Networks -Travelocity buys off from MS InteractiveCorp (IAC) buys Expedia LastMinute - Priceline IPO - IAC buys Hotels.com - Priceline buys - Priceline buys bookings.com Travelweb (Merrill Lynch, HeBS, TravelCLICK) “In 2006 the major hotel brands enjoyed an above the average direct vs. indirect online ratio of 81.4% vs. 18.6%.” - HeBS 14

The Search Engine Marketplace How many searches are done worldwide and what is the share? Unique Searches Search Result Search Visits Share of Result Pages Items 1 to 98 Searchers (MM) Pages (MM) Per Searcher Searches Per Search (000) Total Internet 66,221 97,728 22.3 788,594 100.0 1.5 All qSearch Properties ... ... ... N/A ... ... 1 Total Internet 66,221 97,728 22.3 788,594 100.0 1.5 2 [P] Google Sites 41,345 58,898 18.5 633,521 62.4 1.4 3 [P] Yahoo! Sites 8,505 12,981 9.4 302,952 12.8 1.5 4 [P] Baidu.com Inc. 3,428 5,391 11.9 67,791 5.2 1.6 5 [P] Microsoft Sites 1,940 2,971 4.7 184,451 2.9 1.5 6 [P] NHN Corporation 1,572 1,970 18.6 21,431 2.4 1.3 7 [P] eBay 1,428 1,852 4.6 108,770 2.2 1.3 8 [P] Time Warner Network 1,062 1,427 4.7 98,494 1.6 1.3 9 [P] Ask Network 728 1,004 3.6 93,853 1.1 1.4 10 [P] Yandex 566 819 13.2 12,503 0.9 1.4 11 [P] Alibaba.com Corporation 531 951 5.8 22,806 0.8 1.8 12 [P] Amazon Sites 493 793 2.7 79,152 0.7 1.6 13 [P] FACEBOOK.COM 465 786 4.1 38,919 0.7 1.7 14 [P] Fox Interactive Media 420 866 3.6 48,356 0.6 2.1 15 [P] Lycos Sites 408 662 8.1 18,365 0.6 1.6 16 [P] Sohu.com Inc. 225 453 4.5 13,696 0.3 2.0 17 [P] CRAIGSLIST.ORG 224 1,059 6.2 12,582 0.3 4.7 18 [P] Wikipedia Sites 215 253 2.3 47,646 0.3 1.2 19 [P] TENCENT Inc. 213 348 5.0 18,933 0.3 1.6 20 [P] FRIENDSTER.COM 173 273 5.5 13,454 0.3 1.6 Source: comScore Networks; Worldwide data for December 2007; qSearch Key Measures Report 15

CGM Changes Minds of Online Travel Buyers  51 percent of respondents used CGM (Consumer Generated Media) to help narrow a choice  23 percent employed consumer-created information to confirm a decision  15 percent used it to pick their top choice.  21.2 percent of travel purchaser surveyed said consumer review sites influenced their choices, while 11.3 percent noted online advice from consumers did so.  Advice from family and friends and corporate Web sites, however, had more impact. Friends and relatives influenced 38.3 percent of participants, and around one- third said company sites had an effect. Source: The ClickZ Network, Dec 14, 2006 16

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