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BizReport : Advertising : September 12, 2016

Travel industry loses standing as leader in moment marketing

The travel industry has lost its place as the top digital sector for moment marketing, according to TVTY's latest survey, as rising ad costs motivate other sectors to adopt the marketing method.

by Helen Leggatt

Moment marketing consists of online campaigns triggered by offline events and using data and technology to execute them within a brief period of opportunity. Those events can range from television programs, financial or economic events, the weather and sporting events.

Earlier this year, moment marketing firm TVTY released survey results that found the travel industry to be leading the way and developing the most sophisticated moment marketing strategies. At the time of the survey, almost two-thirds (64%) of digital marketers in the travel industry planned to allocate more budget to moment marketing this year.

However, TVTY's latest survey, conducted in June among 200 marketers, found that the travel industry has dropped down to fourth place. Taking the top space now is entertainment/media, followed by business/industrial, and retail.

The reason for the change, suggests TVTY research, is that businesses are having to rethink marketing strategies in light of rising advertising costs. Nearly all those marketers surveyed (93%) said advertising costs have risen over the past year, yet reach has remained the same.

To that end, one in five businesses have cut costs. Twenty-one percent have cut back on staff and 32% are reducing the number of campaigns conducted.

moment mktg.png

However, 81% say they have launched moment marketing campaigns and nearly all (98%) said they would like more detailed insight about the kinds of offline triggers that impact their target consumer's moods and purchasing behavior.

"The rapid adoption of moment marketing has been driven, at least in part, by continuing pressure to optimize ad spend, against a backdrop of the rising cost of consumer attention," said Eliott Reilhac, TVTY chief executive. "But undoubtedly, moment marketing is also allowing brands to launch highly innovative campaigns that are delivering amazing results. Over the next 12 months we expect to see brands widen the variety of triggers they use and launch even more 'Always Ready' campaign strategies."

Tags: advertising, moment marketing, research, travel

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