RedSeer Helped A Top Travel Portal in Restructuring Their Monetization Strategy
Travel and tourism is a fast-growing vertical in India. People have started travelling for luxury lately and a lot of Indian economy is coming from tourism. Along with the growth in the industry, the competition among travel service providers have also boomed up and people look for better offers before planning any trip. Our client, a top-5 travel portal had a diverse set of offerings on the portal and the web-traffic was high. However, monetization was limited and there was competition from a different set of market players. Redseer helped them in restructuring their monetization strategy.
The initial step was to assess the Indian travel market. We assessed and analysed the existing travel portal market by different offering segments and compared it with other top players in the market. Various cuts like cost, offerings, discounts, etc were considered during the process. Also, the consumer behaviour was surveyed, and a demographic level analysis was conducted to understand user preferences across cities and age groups.
Brand perception study was done by our team and the client's brand perception and market positioning was analysed in several ways within the target group. Along with perception study, competitor analysis was also done on a broad level. More than 20+ industry experts and 1000+ customers were approached to analyse the demand and a broad understanding of the market was instrumented. Gap analysis was done post that and potential opportunities for monetization were identified and analysed by our team. Post all the studies done by the team, a new model for services to be offered was designed by RedSeer, keeping the government norms in mind that can help the client monetize the traffic.
Post the analysis provided by RedSeer, the client implemented it and experienced a 20% surge in overall revenue and a 30% surge in web-traffic in a very short span of time. Also, as feedback from the client, some information was shared in maintaining high operational efficiency and at the same time during some observational period.