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Virtuosos Luxury Marketplace White Paper reveals

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first_imgVirtuoso’s Luxury Marketplace White Paper reveals 77% of Virtuoso agency members in the Asia-Pacific region are seeing growth in the business, but it’s not all rosy. Luxury travel agencies believe there is opportunity to connect more effectively with luxury clients through co-operative marketing beyond pure discounting.Key insights from Virtuoso’s white paper include:Luxury travel suppliers are willing to spend more from their marketing budgets but they don’t believe current joint marketing campaigns portray their brand wellLuxury travel agencies believe there is opportunity to connect more effectively with luxury clients through co-operative marketing beyond pure discountingRepeat business accounts for more than 70% of most Virtuoso advisor business and new client acquisition is attained overwhelmingly through referrals, but relationship marketing holds a small share of existing marketing spendMost luxury supply marketing is aimed at new customer acquisition which is least likely to convert and often fixated on discountsThe APAC market craves localised marketing and personal messaging, rather than those repurposed from larger international markets“The luxury travel segment is thriving both here in our region and globally. Consumers are trading up to the best experiences the industry has to offer and our business grew over 20% in 2017, making this one of Virtuoso’s fastest growing markets globally,” Virtuoso’s Managing Director – Australia, New Zealand and Asia, Michael Londregan said.“While desire is high, we feel our industry is lagging behind the consumer when it comes to the way we market luxury travel. We found a strong belief amongst both luxury travel suppliers and advisors that there are few viable and effective marketing channels to communicate their message and support their brands.“There is a lot of activity in the travel marketplace but most of it is distress marketing – promoting our “brown bananas” – and very little communicates the luxury value proposition in a way that connects with luxury clients. Our research shows this is something our luxury suppliers and agents are craving.”Mr Londregan said following the white paper’s findings, Virtuoso will make a significant investment in marketing resources for the region in order to better service supply partners and agency members.As a direct result of the research Virtuoso is delighted to announce that Adrian Clarke, will join Virtuoso’s APAC team in a marketing role in March 2018.“Transitioning from the member side of the program into Virtuoso itself is an exciting progression,” Mr Clarke said.“I’ve always admired Virtuoso’s clear market position and look forward to working with the best suppliers and advisors in the region to grow engagement and revenues through better marketing programs.”Mr Clarke has held numerous senior marketing roles in the travel sector including most recently as the Head of Marketing with Travel Associates, one of Virtuoso’s valued members.IMAGE: Adrian Clarke luxuryVirtuosolast_img

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