Returning to some digital marketing, this week we talk about mainstream media for luxury marketing funnels when it comes to travel. Google, Facebook, Instagram and all the other mainstream media options out there. Useful or a waste of money?
What do we cover in this episode?
- Mainstream media in luxury travel
- Google & Bing
- Facebook & Instagram
- Twitter, Pinterest, Snapchat / Tik Tok
- Are they viable for luxury marketing funnels as traffic sources?
- Reality Check (Some stats and numbers)
- Google examples
- FB & IG examples
- How can you narrow it down?
- Traffic is just the beginning not the end
Is it even worth to invest in Google, Facebook and Co. if you want to attract affluent customers?
The answer as usually is: it depends. Some business models (aviation, hospitality, travel agents) may have access to larger or smaller audiences on mainstream media depending on things like geography etc. But even if you do find a viable audience to advertise to (for example some keywords that match the kind of buying intent your luxury service or product would require), the big challenge then still remains to narrow down, filter and disqualify the people who can’t afford you or just want to dabble. Because those clicks will waste your media budget faster than you can count!
That is were digital marketing skill and experience in addition to knowing the high-net-worth mindset can come in handy. If you know your customer profile or buyer personas well and the advertising suite (Google Ads, Facebook Ads, Linkedin Marketing etc.) allows for it, you can mix-match different targeting settings to filter out the traffic you need to fuel your funnel.
But at the end of the day (at least in my opinion) mainstream media are always going to be inferior compared to niche direct media and targeted email lists in luxury, because the mainstream and luxury are always going to be diametrically opposed, which makes sense if you think about it right?
In the next episode:
In the next episode we will talk about attribution modelling when building funnels. How can we use tracking, analytics and software to figure out how well our funnel performs and where we can improve.