Travel companies are not fully capitalizing on the business opportunities presented by social media platforms, according to the Digital Channels in Travel report launched today by Facebook and Deloitte. The report asserts that travel companies must fully integrate digital channels into their overall business strategies in order to better engage with consumers.
The report’s findings are based on Deloitte Global’s review of data from a Facebook-commissioned global survey of 10,500 people who use social media. The survey data found that social media platforms, 33 percent, ranked second only to friends and family, 50 percent, as sources for travel ideas; followed by TV shows, 32 percent, travel brochures, 31 percent, and search engines, 31 percent. Yet, a recent study conducted by Deloitte LLP in the U.S. and MIT Sloan Management Review found that more than 50 percent of travel executives believe their companies are behind the competition with respect to digital media presence1. These findings suggest that there is still more work to be done before travel companies can reap the rewards of a fully integrated digital strategy.
“Successful companies are investing in digital and adopting new technology and innovation faster than their competitors. Internally, these companies are altering their organizational structures to eliminate soloed departments and are making digital essential to all departments and teams. The successful players in the travel industry aren’t viewing ‘social media’ as a separate entity, but as a key asset to their business growth and success,” Lee McCabe, Global Head of Travel, Education and Consumer Services at Facebook, said.
“Travel companies that are not taking advantage of the business opportunities presented by digital platforms are potentially missing out on important sources of growth. With the high proportion of the population in the Middle East region being under the age of 29 years old, and the increasing influence that these individuals have on family travel decisions, it is clear that with the right approach, digital can transform a travel company’s marketing efforts and deliver real ROI. However, effective strategies must be tied to business goals in order to begin to see real, tangible results,” Grant Salter, director, Tourism, Hospitality and Leisure (THL) industry at Deloitte Middle East, said.