Learn how a hospitality business reduced customer acquisition costs by 60% through strategically embracing third-party marketplaces, including AirBNB and Booking.com. A case study in pragmatic growth strategy.
When scaling a business, there's a common scenario that plays out far too often: Companies pour money into marketing campaigns, watching their impression numbers soar without seeing any tangible results. It's a story we've seen repeatedly at Pieo, and it raises an important question: Are we sometimes too focused on vanity metrics, and overlooking opportunities as a result?
In this episode, James and Andrew share their experiences of working with a boutique Hotel in Sri Lanka who were facing challenges with customer acquisition, and discuss how they embraced Third-Party distribution to drive revenue growth.
0:56 - Breaking down the Acquisition Challenges
2:03 - Reframing Cost of Acquisition
3:34 - Optimising Property Listings
4:37 - Influence of Pricing on Ranking
5:34 - Understanding Marketplace Ranking
6:43 - Comparing Marketplaces
8:20 - Using Marketplaces as a Stepping Stone
9:28 - Blending Marketplace and Direct Acquisition Strategies
12:00 - Understanding Customer Behaviour