Brands targeting leisure travelers have a much wider set of opportunities than they did in the days when people took only one holiday or vacation a year.
The vacation or holiday market has diversified significantly as traditional vacation or holiday seasons merge into one year-round season, with many people taking multiple breaks throughout the year and the numbers of Christmas travelers seemingly increasing year on year. A recent ABTA Consumer Trends survey showed that people are being more frugal with respect to eating out and other leisure activities, retaining budget for vacations or holidays.
However, in a market where competition is fierce, especially when it comes to essential travel items such as luggage, sunscreen and swimwear, brands need to carry out the right research with the right consumers in order to properly inform their marketing campaigns and product development activities. Even travel agencies have recently been under fire for not understanding their customers. Marketing campaigns and product development activities are costly and must be supported with the right research to ensure they provide the best ROI. With increasing pressure to raise that ROI, research has become an even more vital activity.
This situation has provided the opportunity to create a revenue stream for market research agencies, and other organizations that can benefit from owning a survey panel. This group includes publishers of travel magazines and websites. Increasingly, publishers will build their own online survey panels to gather opinions that can help shape their editorial activities and help convince advertisers that their outlet is the best one to be in. These same publishers can open their survey panels to other organizations, thereby generating a revenue stream, part of which can be used to cover survey panel incentive costs.
For publishers of travel magazines, there is a great opportunity to capitalize on this approach as they can open their panels (comprising the magazine’s readers and therefore leisure travelers) to relevant brands for survey sampling opportunities.
Given the difficult times the publishing industry has recently undergone, diversifying revenue streams has become more important than ever. Those publishers who have not yet considered a survey panel as a viable channel to add revenue now can do so easily and effectively. The rise of DIY market research tools has provided access to many easy-to-use technologies that can be used to set up panels, as well “hubs” that can be used to make panels available to other organizations.
Across all industries, the economic climate has presented many challenges to businesses and brands, making them have to work smarter and look for new ways to generate additional income. Whether it be a travel publisher, a not-for-profit or a brand wanting to access opinion on a regular basis, building and owning online survey panels is a viable way of fulfilling a number of business objectives.
See how publishers are using the Engage solution.