In our final episode on funnels (for now) we talk about what you can do once you have a working cold traffic funnel in luxury travel. Everything from making sure that your high-net-worth leads convert to deals or that your bookings don’t bounce in the checkout phase.
What we cover in this episode?
- Assumption (What is a working cold traffic funnel)
- Closing the deal (direct bookings)
- CRM sales cycle (B2C luxury sales)
- Collecting data & insights
- Optimizing the funnel
- Word of mouth
- Recurring business
- Up-sells / Cross-Sells (Collaborations)
- Warm traffic tactics
You have a working luxury funnel, congrats! But what comes next?
Assuming that you have built a working marketing funnel online for your luxury travel business, there are still a few areas where you can improve. Two important ones being, obviously, the check-out process for direct booking based business models (hotels, resorts, hospitality platforms) and the lead gen collection & sales follow-up process for private aviation and yacht charters and travel agency brands.
Collecting data and applying insights generated from that to A/B test and optimize the cost-efficiency of your funnel to the max is usually an ongoing but very rewarding process in terms of effects on your bottom line.
Once that is taken care of, you can start thinking of how to extend your funnel in two directions. Number one is what to do after you close the deal. Attaching mechanisms to the end that promote word-of-mouth and recurring business or building out warm funnel tactics on top of your funnel to reduce drop-outs and increase conversions are what you should focus on in the long term.
In the next episode:
We are taking a little break from luxury marketing or digital marketing related content after finishing our series on funnels. Next weeks episode is going to be about a topic that is very personal and dear to me: Business Ethics!