This week we discuss why you should never skip the strategy stage if you want to plan out effective luxury travel marketing campaigns. We also summarize what elements should be included in a luxury strategy project.
What we cover in this episode:
- KPI Calculation (CPC, CPL, CPA, CLV etc.)
- Step-by-step action plan (traffic, content, email, social)
- S.M.A.R.T. Goals
- SWOT Analysis
- Market Segment Research
- Luxury Buyer Personas
- Content Briefs (Landing pages, copywriting etc.)
- Technology Recommendations (ESP, CRM etc.)
- Media Recommendations
- Luxury Insights (Dos & Don’ts)
- Cost Estimation
Why do you need luxury travel marketing strategy plans before running campaigns:
Luxury marketing campaigns, especially for travel brands, need to be well researched, thorough and creative. To include all those elements you should base your strategy on current digital marketing best practices and accurate, up-to-date market data. Involving your sales team and customer service reps can also yield very useful intelligence when it comes to knowing what your high-net-worth customers need and prefer. Applying the luxury strategy in terms of controlling supply, modifying the buying process etc. needs to be obviously a priority in planning your overall communication as well.
Once you have solid research, personas and market data ready to go you can proceed to formulate realistic action plans, select vendors, write briefs, buy technology, map out your funnel and calculate relevant KPIs. A lot of traditional or brand focused marketers tend to skip calculating the necessary direct marketing formulas, but this usually results in lackluster campaigns with bad analytics that under-perform or go over budget to achieve goals, so don’t skip that step if you want to be a smart luxury marketer in 2019!
In the next episode:
In the next episode we will talk about funnel creation, what goes into a basic funnel and why applying a growth marketer mindset to luxury is the future of promoting high-ticket travel products and services.