Travel and hospitality companies have made good progress in the journey to digital maturity – new report | Econsultancy

More than a third (35%) of travel and hospitality organizations classify themselves as ‘digital disruptors’, and a further 48% describe their organizations as ‘fast followers’, according to research published today by Econsultancy and Adobe.

Additionally, over two-fifths (43%) of companies in this sector say they have a ‘central, integrated function dedicated to digital transformation’.

A global survey of nearly 200 senior digital marketing and e-commerce executives working for companies in the travel and hospitality sector found that the rise of digital-only companies and the sharing economy are top of mind when it comes to competitive and environmental pressures, and are important factors in driving companies to optimize and sometimes redefine their proposition and services.

The Digital Trends in the Travel and Hospitality Sector report also found that companies in this sector have really grasped the importance of mobile and are more focused on this business imperative than their counterparts in other industries, placing mobile at the heart of the customer journey.

Two in five (41%) companies agree that they are ‘mobile-first’, and almost two-thirds (63%) say that they have budget specifically allocated to mobile experimentation over the next 12 months.

The research has also revealed that the vast majority (82%) of companies are attempting to build a 360-degree view of customers in order to communicate to them more effectively. Three-quarters of responding companies (75%) say they have a data analytics strategy, but a significant proportion of these say (44%) that this strategy isn’t multichannel.

According to Mohammad Gaber, Head of Industry Strategy & Marketing, Travel & Hospitality at Adobe:

“The results of this research point to a technology, cultural, people and process transformation that is occurring in this sector. With focused integrated transformation functions, increasingly mobile-first posture and formalized data analytics strategies, it’s clear that progress is being made.

“However, significant opportunities remain, including a greater omnichannel data view, enhanced collaboration across marketing / technology teams and, importantly, the delivery of multichannel personalization.

”Other key findings include:

  • ‘Customer experience’ is the area where companies are most likely to be focused in the context of developing their digital capabilities over the next 12 months.-) More than a third (38%) of responding organizations say they are committed to the use of digital at their physical locations while a further 26% say they have carried out pilots.
  • Although virtually all companies claim to be doing some kind of personalization, only 30% say they are carrying out multichannel personalization based on digital and offline data.
  • Just under two-thirds (64%) of organizations say that their own data (first-party) is very effective for helping them to drive return on investment from marketing activities.
  • Social media platforms are the technology area where companies are most likely to be prioritizing investment over the next 12 months.

To get this report:

Source: Travel and hospitality companies have made good progress in the journey to digital maturity – new report | Econsultancy

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