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Differentiation in online travel Ian McCaig CEO - lastminute.com June 2006 New challenges in online travel ¾ Supplier direct became reality ¾ Tour ops and Airlines expanding online functionality/features to encourage customer transition to online channels ¾ LCCs successfully cross-selling ¾ Increased pressure on customer acquisition costs – strong brand resonance/heritage and customer loyalty are core advantages ¾ Metasearch becoming usable – driving commoditisation (but at a cost in high marketing spend). Differentiating through Brand ¾ Position ourselves as giving our customers the inside track to smarter travel and leisure solutions (without paying more for them) ¾ Brand tone and personality is a key differentiator – continue to evolve and develop proposition to grow loyalty for existing customers but also engage new customers in a way that’s meaningful ¾ Strive for innovative and eye catching creative executions: cut through and differentiation ¾ Contextual and topical activity - push the brand in surprising and new places - take risks and stretch the boundaries ¾ For lastminute.com, score against our brand values and maxims list all the time – it’s smart, it challenges you and delivers unique value Differentiating through Product ¾ Fundamental customer choice advantage – 17K suppliers for lastminute.com ¾ Scale drives exclusivity, delivers customers: virtuous circle ¾ Retailing mindset: anticipation of desires and speed of reaction to consumer behaviour ¾ Rich user experience: getting to filtered results faster, relevant/targeted merchandising and continuous customer usability tracking ¾ Non-travel products – lifestyle partner which helps you to get the most out of your life View of the future ¾ Rich content – User-generated content – High quality, searchable details on products, made available via multiple media (wireless, idtv, mobile) ¾ Customer empowerment – Review content increase leads to increased reliability – Social networking drives opinion-forming ¾ CRM – Loyalty - travel and lifestyle breadth promotes loyalty in multiple combinations of products – Help customers to get smarter – Trust as lifestyle expert and encourage visits every day (and repeat purchases) lastminuteliving.com
