In today’s online world, hotel marketing is ever-changing. Tools like metasearch are at the forefront of helping hotels grow their business online.
To make sense of it all we’ve created this glossary. Not only will we continue to build this out and demystify these tools and techniques, but we’ll cover other key industry terms, marketing phrases and acronyms as time goes on. Still unsure about something? Let us know in the comments below.
Cost Per Mille. This refers to the ad buy pricing option whereby the publisher charges the advertiser per 1000 impressions. Note: ‘M’ doesn’t stand for ‘million’. Instead, it comes from the Roman word for ‘thousand’.
Cost Per Acquisition. This refers to the ad buy pricing option whereby the publisher charges the advertiser per lead or customer acquired.
Cost Per Click. This refers to the ad buy pricing option whereby the publisher charges the advertiser per click or lead generated. Note: there are two main methods of determining CPC rate. The first is an open bidding style and the other is a fixed or negotiated cost set by the publisher.
Call To Action. This is a deliberate phrase intended to instruct viewers of an ad or recipients of an email to perform an immediate action, for example: “click here” or “call now”.
Click Through Rate. This is the specific number of viewers or recipients in a campaign who actually click on an individual link. This number is then divided by the total users who received the page, email, or advertisement in order to measure success of that CTA, campaign and so on. This measurement is considered to be a KPI.
Key Performance Indicators. These are business metrics used to determine the relative success of an organization, its projects and initiatives. KPIs differ per industry, company, and objective. There can be overarching corporate KPIs as well as project specific ones. KPIs are measurable and may be the total number of social media fans, the number of impressions, CTR an ad receives or overall net revenue.
Business to Business. This acronym prefaces a (business) goal, whether it be in sales or communication, to define and target a corporate specific audience in broad terms.
Business to Consumer. This acronym prefaces a (business) goal, whether it be in sales or communication, to define the target an individual consumer or public audience in broad terms.
A booking engine is an online application that facilitates the online reservation process. It aids guests in arranging their accommodation, travel, and insurance needs, along with other tourism-related services. This has become a major revenue channel for many hotels across the globe. The recent growth of online travel booking is due in part to the increasing number of hotels with a booking engine or connectivity partner, both of which accommodate and encourage more direct bookings.
Online Travel Agent.
Third party entities, like Expedia, who focus on travel destinations, reviews and products such as hotels, flights and car rentals. These companies take a commission for each booking generated and operate similar to traditional travel agents except that they are solely online.
Like what you see? Subscribe to the blog and receive the latest hotel and metasearch marketing tips right to your inbox. Make sure to revisit this page as we’ll continue to add to this glossary regularly. Have marketing buzzwords or industry terms you’d like to suggest for the glossary? Add them below in the comment section.