By: Norah Malkin, Account Manager – Travel (New York)
There is no better opportunity for brands to connect with consumers than in the Transaction Moment™ – when they’re at the peak of engagement and ready to spend. And few opportunities are better than those that seamlessly link complementary offerings to drive value for both consumers and brands.
Take event ticketing and travel. When a customer buys a ticket, they aren’t just gaining entry to the event, they’re signing up to a wider experience that includes the entire journey – getting to the venue, food, and drink, and often accommodation. Creating the ideal mindset for relevant travel companies to step in and begin a conversation with the customer.
Data driven relevancy
Ticket purchases create a potential opportunity for travel brands. In fact, 18 million of those who buy via our ticketing partner sites — including Ticketmaster, Live Nation, and AXS — travel over 100 miles to attend shows and festivals, while 17 million travel at least 250 miles. Over half of the customers who book events go on to buy further ancillary services such as hotels, flights, and rental cars. Presenting a complementary offer both enhances the relevancy of the purchasing journey for ticketing customers as well as allows travel companies to build relationships with customers they know are likely to buy.
“The travel and ticketing industries are perfectly placed to take advantage of this opportunity, especially when they work together to create exceptional customer experiences.”
Hyper-relevancy AND personalization
How brands approach customers is critical. Drawing on data from customer purchase journeys, marketers can design relevant offers and personalize messages for optimal impact.
For example, Russ books to attend a London-based music festival in four weeks time, we know the type of artists he’s going to see, his ticket price, and the venue location – among other things. This can be used to serve natively-presented messaging, incorporating the event details, either immediately after purchase, or through an email series leading up to the event. As the days count down, Russ can be offered 20% off three nights in a nearby hotel, local restaurant deals or car rental add-ons, each perfectly timed based on consumer booking cycles. Gaining consent to connect with individuals through email, means featured brands build a rapport with the customer, increasing the likelihood of building a lasting and valuable relationship. By utilizing event data, brands can optimize the timing and copy of offers made, which can result in an increase of conversion rates by 10X.
All too often a shopping journey is considered complete the second a purchase is confirmed. In reality, it is just the beginning. When navigated correctly, a confirmed purchase generates more than just extra revenue – it creates loyal customers. The travel and ticketing industries are perfectly placed to take advantage of this opportunity, especially when they work together to create exceptional customer experiences.
Further insights on travel and the Transaction Moment™ can be found in our latest paper with Skift, The Anatomy of the Upsell: Making the Most of Travel Transaction Moments.