Share of voice (SOV) is essential for assessing brand visibility and engagement compared to competitors. This metric, (calculated by dividing your brand’s mentions by the total mentions in the market and multiplying by 100), offers insights into your brand’s positioning.
NB: This is an article from Cogwheel Marketing, one of our Expert Partners
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By understanding the factors that shape the traveler’s path to purchase, hotels can refine their marketing strategies, increase direct bookings, and reduce dependency on third-party platforms.
Example:
An independent boutique hotel in New York wanted to increase its direct bookings and compete against major chains and third-party sites like Booking.com. By tracking Share of Voice (SOV), the hotel noticed it had lower brand mentions compared to its competitors. This insight led them to focus on boosting visibility through strategic social media campaigns, targeted SEO, and online content that emphasized unique local experiences. As a result, the hotel’s SOV grew, driving more travelers to book directly through their website, increasing direct revenue and reducing reliance on commission-based platforms.
This approach illustrates how SOV can guide marketing adjustments that enhance brand positioning and foster direct relationships with travelers.
Why Direct Bookings Should be a Priority
While travelers often start their search on third-party sites like Booking.com and Expedia.com, 72% ultimately prefer to book directly when given the option. With Expedia’s research indicating that travelers explore multiple touchpoints before finalizing a booking, including social media, online reviews, and hotel websites, it’s essential to capture attention and facilitate direct bookings by emphasizing key benefits:
1. Leverage Booking Preferences and Influence Early Stages
- Position Your Brand During the Research Phase: Expedia’s research shows that travelers spend over five hours researching. Hotels can use this phase to emphasize brand benefits through digital advertising, SEO, and organic social content.
- Highlight Unique Perks of Direct Booking: Guests value room upgrades, personalized experiences, and exclusive offers. By promoting these early on, hotels can attract attention and influence decision-making before travelers turn to third-party sites.
2. Reduce Booking Costs and Maximize Profitability
- Avoid High Commission Fees: Direct bookings help hotels bypass the hefty 15-25% commission fees that third-party sites charge, freeing up funds for reinvestment in guest experiences and direct marketing efforts.
- Transparent and Competitive Pricing: Ensure direct booking offers the best rates and communicate this. This transparent approach can help steer travelers away from third-party options and establish trust.
