If you are still thinking that digital marketing consists of just having a pretty homepage, doing a little bit of SEO, social media and maybe dabbling in Google Ads, think again! The field of digital marketing has evolved and if you want to generate high-net-worth leads and bookings for your business, you better get up to speed on funnels!
What we cover in this episode:
- What most people consider to be digital marketing nowadays
- What are marketing funnels (general definition)
- The old school mentality in a lot of luxury companies
- Sales cycles vs marketing funnels
- The steps of a simple funnel
- Why are funnels better than disconnected marketing plans
- There are different specialty funnels for different verticals
Why are funnels the next step in the evolution of digital marketing:
Marketers and executives in luxury travel on the SMB level usually perceive marketing as only complimentary to sales or not useful at all, just a cost-center, as old-school managers often say. In comparison to that, multi-nationals or enterprise companies (like in luxury hospitality for example), heavily invest into digital marketing. Another major differences is the way digital marketing is incorporated into the overall business strategy. A pretty website, with a bit of basic social media or search marketing and a boring newsletter is considered to be sufficient in a lot of cases.
This is where funnels come in. Funnels usually combines multiple elements of digital marketing to generate traffic, convert and nurture visitors and support the closing of new accounts or customers. Because of that, they are particularly relevant to luxury travel, which is by default international in a lot of cases and offers a variety of paid media options to fuel your funnels.
In the next episode:
In the next episode we will talk about paid media and what are some useful media buying strategies for luxury travel companies.