After a dramatic reduction in marketing
spending by travel companies in 2020 and 2021, the money is flowing again.
Two of the biggest global brands illustrate
In their financial reports for the first
quarter of this year, Booking Holdings and Expedia Group reported spending
$1.15 billion and $1.34 billion, respectively, on marketing – compared to
figures of $461 million and $487 million, respectively, in Q1 2021.
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But while this year’s first quarter numbers indicate
travel advertising may be on pace to approach
2019 levels, the digital advertising landscape is in the midst of major
shifts that requires marketers to employ new strategies to understand and reach
According to Phocuswright’s latest report, The
State of Digital Advertising in Travel: Time for a Rethink, two of the
biggest drivers of change are legislative action to protect consumers’ privacy
and the elimination
of third-party cookies.
At the same time, a new model for personal
data is gaining traction: self-sovereign identity, which gives consumers complete
control over how and when their share their personal information and
The challenge for travel marketers is to
understand this new landscape and how balance privacy with personalization.
The full report addresses the immediate, near-term and
mid-term factors impacting digital advertising, the issues they represent and
strategies to consider to address these challenges.
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