Teads Elevates Travel Performance Advertising with Teads Conversions
by on 12th Sep 2024 in News
Teads, the global media platform, is redefining travel advertising with its innovative Conversions solution, transforming the way travel brands achieve their business goals and engage with consumers in a post-pandemic world.
Macro situation: As the travel industry rebounds post- COVID-19, marketing budgets are cautiously returning, driven by ambitious business objectives. Travel performance advertisers are increasingly turning to Teads to support their efforts, particularly as they face saturation in traditional advertising channels.
At Teads, we’ve observed a significant surge in demand across major markets in the APAC region, with nearly an 80% year-on-year increase in advertising budgets within the Travel sector in 2023 and a 40% year-on-year* growth specifically in performance marketing.
Surge in media investment: Key markets such as Singapore, Australia, and Hong Kong have seen a substantial rise in media investment. Brands across various industries, including airlines, hotel chains, tourism boards, theme parks, and zoos, are doubling down on their advertising efforts.
Their primary goals are to boost brand awareness and, more importantly, achieve aggressive business objectives that were hindered during the pandemic. To accomplish this, they aim to make their media efforts more accountable by focusing on driving quality visits and conversions.
- Compared to pre-COVID levels, the number of individuals planning to purchase an overseas vacation in the next 3-6 months increased by 11%, from 19% in 2019 to 21% in 2023.
- Similarly, those planning to purchase travel tickets in the next 3-6 months have increased by 13%, from 24% in 2020 to 39% in 2023.
*Source: GlobalWebIndex, APAC, Q3-Q4 2020 vs. Q1-Q4 2023, Teads audiences interested in travel
Introduction of Teads Conversions: Teads launched its Conversions solution as part of its Performance suite in 2023. Having conducted over 260+ campaigns (measured as opportunities with won & with spend) in the past year, Teads has successfully supported clients engaged in direct e-commerce across 26 countries, optimising for objectives such as quality leads, purchases, and subscriptions on direct-to-consumer websites. Teads' roadmap includes plans to export support of objectives on web and mobile platforms this year, delivering stronger results and increased efficiency through automation.
One of the standout features of Teads is its ability to suggest creatives using generative AI. As part of our ongoing efforts to innovate and enhance our capabilities, we employed Teads Internal (Beta) tools powered by Generative AI. At Teads, our cutting-edge AI technology empowers clients to streamline their processes and deliver superior outcomes. By integrating advanced AI, we stay ahead of the curve, maintaining a competitive edge in the industry. This approach enhances creative effectiveness while continuously optimising top-performing assets through Dynamic Creative Optimisation (DCO). In addition, we provide detailed reports and insights that allow clients to track campaign performance and make data-driven decisions. Our consultative team offers exceptional support throughout the entire partnership, ensuring success every step of the way.
Top Travel Trends in 2023:
In 2023, travel trends reveal a strong desire for relaxation and unique experiences, with the following statistics highlighting the key motivators and preferred types of vacations among travellers.
- Relaxation – 26%
- Local food and beverage experiences – 21%
- Good facilities/activities for children – 20%
Top 3 Types of Vacations
- Beach/Resort – 53%
- Road Trip – 43%
- Theme Park – 36%
*Source: GlobalWebIndex, APAC, Q1-Q4 2023, Teads audiences interested in travel
Teads Conversions is a strong partner offering incremental quality performance solutions to support various verticals, including travel, in their post-pandemic marketing efforts.
*For clarification regarding the 40% year-on-year growth in performance marketing: Performance = Mid & Low Funnel MS & SS campaigns for Travel Vertical for full year 2023 in Constant Currency (e.g., Fixed Commercial Performance) - Billing CPC or CPM - Goals: Click (CTR/CPC), Visits (CPV, CPQV), Conversions (CPA, CPL, ROAS). and double check value
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