Published on May 14, 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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