Want to know how to grow an online travel business? Then take a look at Priceline, which owns Booking.com, Agoda.com, Rentalcars.com and Kayak.
Two things to note: (1) Its online advertising strategies are exceptionally aggressive yet disciplined, and (2) 90% of the company's gross revenue is made outside its home market of the United States.
Combine them and you've got a gross profit of more than USD21 million a day.
Right: Departing CEO Jeffrey BoydThat adds up to a USD2 billion gross profit for the third quarter, 42% up over the previous year.
By some weird coincidence – or may be not – Priceline's online ad spend across all brands also grew 42% for the period.
And how much did they spend online – most of it with Google AdWords – during the quarter?
The answer is USD533 million, up from USD375 million the year before.
Offline ad spend grew even quicker – almost 500% – but from a much lower base: US8.4 million to USD40 million.
This no doubt can be attributed to the new Booking.com TV campaign which started in the US and is now rolling around the world – same vision, local accents.
On the global front international operations contributed USD1.8 billion of the USD2 billion gross profit.
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