Measuring Success in the Travel Industry with a Measurement Framework
Looking to define your marketing wins and losses? Plan a campaign that’ll work towards your key objectives? You’re looking for a measurement framework.
The travel industry has never been more competitive, so making sure your marketing activity is effective has never been more crucial.
Measuring success in the travel industry with a measurement framework
The most robust way to do this is with a measurement framework that allows you to unify shareholders, put your focus in the right place from the outset and tell you whether you’re on the right track or falling by the wayside. A comprehensive measurement framework is one of the hardest working tools in your arsenal.
What is a measurement framework?
“It provides structured thinking about what the real purpose of a campaign is and an objective set of measures with which to identify success or failure.”
Your measurement framework is your why, your how, and your what; it’s your hypothesis through to your conclusion. An effective campaign measurement framework should tell us why we’re conducting a campaign, how we will measure it and what will determine its success.
Why is a measurement framework important for the travel industry?
The importance of a marketing measurement framework is not limited to travel; we believe it’s something every campaign in every sector should have to hand. But travel is arguably one of the most competitive and constantly evolving markets (especially after the pandemic), making it even more critical to make informed decisions with a focus on success from the outset.
Ensure all of your stakeholders are unified.
Join your messaging and your campaign objectives.
Promote an evolving marketing campaign.
Open the door to data-driven decision making.
Negate the challenges of measurement.
Consider changes in the market.
A digital marketing and measurement model will ensure that all of your stakeholders are unified in their approach. Your measurement model provides a clear road map, giving all stakeholders a shared understanding of what performance (and ultimately success) will be judged on and what doesn’t need to be monitored and prioritised.
When you know what you are working towards, you’ll be able to join your messaging and your campaign objectives with ease. If you work with Accord, an integrated approach will be part and parcel of your campaign as we always align a measurement framework and comms plan to create a coordinated plan of action.
LEARN MORE: What is Comms Planning: delivering the right message at the right time.
Your framework will promote an evolving marketing campaign, making sure you don’t get stuck in the mud. Knowing what success looks like means you’ll also know what failure looks like, and being able to chart your progress easily will mean you’ll know when something just isn’t working. It’s okay; it happens. But knowing it’s happening allows you to quickly refocus, retarget and change courses before it’s too late.
What’s more, it opens the door to data-driven decision-making. Using the three pillars of measurement – attribution, experiments and media mix modelling – you’ll be able to identify performance against the KPIs in your framework and ensure that you remain on the right path to success as your campaign evolves.
Measurement is complex, and there are many pitfalls you must avoid. A measurement framework will negate many of these challenges. From looking at the wrong measures at the wrong time to getting caught up in vanity measures or not applying that all-important context to the numbers, a measurement framework will tell you what’s important and when, letting everything else fade into the background.
What’s more, the challenges of measurement are changing as the industry does, and so a well-considered framework will keep up with these changes as and when they happen. From the introduction of GDPR to the depreciation of third-party cookies, a robust measurement framework will take all challenges into account and be poised to remodel should another come along during the campaign.
Creating a measurement framework and calculating success
So, where do you start? When it comes to creating a measurement framework, a top-down approach works best, beginning with the big question - why are you even doing a campaign? - and working down to the granular details and data segments.
Accord Measurement Framework
How Accord can help
From conceptualising a marketing campaign built around an established measurement framework to helping you shift the dial on an existing campaign by analysing the data, we’re here to help your brand.
Working with you to create a rigorous comms framework.
Building a robust measurement framework.
Unveiling the right metrics to be measured at the right time.
Offering you a clearer view of your data.
To start, we’ll create a rigorous comms framework that is aligned with your business objectives and media strategy. With a comprehensive marketing plan that’s built around your target audience in place, it’s time to establish how we measure success.
We’ll then work with you to discuss your current measurement strategy and ensure a robust measurement framework is in place that aligns with your campaign goals. Now we have the why and the how, with a clear road map of channel-by-channel actions tailored to your audience and a clear understanding of how to decipher whether those actions are succeeding.
Throughout your campaign, we’ll be there to ensure every stakeholder is referring back to the framework and measuring the right data at the right time. We’re able to work as an extension of your internal team to feedback on progress, steer focus and streamline thinking.
And we’ll make that data clear and easy to digest. With LOOP, our market-leading analytics platform, you’ll have the KPIs that matter displayed in a custom-built dashboard, helping you get a snapshot of progress whenever you need it.
LEARN MORE: LOOP: Market-leading analytics made simple
If you want to find out more about how Accord can help apply a data measurement framework to your brand, whether in the travel industry or another sector, get in touch today.
Kara Bennett
Kara is Accord’s Head of Analytics.
