New SME business travel platform on the way

Transive is building a new travel platform for SME’s to be launched in early 2019. Aimed at growing organisations throughout the UK, the new platform – TRAQ  –  will combine personalised, professional service with easy-to-use booking and management tools.

TRAQ will operate in partnership with Amber Road, a leading UK travel management company.  The TRAQ platform and booking app will provide simple, intuitive interfaces to the great range of services Amber Road provides.

After a fast sign-up by a company owner or team member, individuals travellers will be able to quickly provide some important details about themselves and download the TRAQ app. The app is where travellers will be able to make and change bookings or quickly get assistance from Amber Road.

Key benefits for TRAQ users will include:

  1. Save money
    • know that you will always get the best available price
    • know that if fares drop after you’ve booked you will enjoy the lower price too (long-haul)
    • save your company money by releasing your time and your team’s time to do more productive things than research and make travel bookings
  2. Peace of mind
    • know you are on top of duty-of-care obligations to your travelling team members
    • know that your company has done the best it can for your travelling team members
  3. Get benefits
    • gain/provide access to the kind of benefits that booking on our own won’t necessarily provide
    • choose whether the traveller or company get the benefit
    • get access to travel professional expertise without paying the usual transaction and management fees
    • get automatic flight delay compensation

All users will get personalised service from a named, focused travel professional within the Amber Road team.

Predicting short term sales

Transive Our WorkHow to drive sales and yet reduce promotional spend

TRAQ / Brand’s awareness measurement positively correlates to future sales

A measurement of a brand’s digital awareness with TRAQ in week 1 provides a strong short-term sales predictor in weeks 2, 3 and 4. Because we have tested this correlation with retailers by providing weekly brand awareness intelligence, we know it works.  Also by extending the analysis to digital activity across product categories and against competitors, we have shown that TRAQ’s awareness measurement correlates with specific future sales performance. As a result management can improve short-term sales performance by targeting opportunities in specific product categories.

Additionally using digital brand awareness metrics helps to reduce marketing costs. This is because monitoring awareness across categories and competitors can rapidly identify where promotional spend would be wasteful. So eliminating unnecessary short-term tactical expenditure is another primary benefit of  TRAQ / Brand.

TRAQ’s weekly sales predictor helps brands to fine-tune tactical promotions, using  funds for maximum impact.  Furthermore we can identify and target quick responses to competitors’ tactical wins and losses.

Using awareness metrics to hit drive medium term marketing

In addition to predicting short term revenue TRAQ adds insight to key management data, and can be analysed to offer:

  • A portfolio analysis of product categories focusing on:
    • opportunities for positive action
    • category needs for defensive action
    • categories without clear direction
  • Measurement of marketing spend effectiveness across all product categories
  • An understanding of competitors’ activity across categories
  • Insight into the core product categories of the brand
  • Evaluation of progress in defence and development of that core
  • Significant category development opportunities
  • Analysis of substantial “hits” made by the competitors

TRAQ – How?

TRAQ uses leading data tools to measure weekly digital activity across online and social platforms.  Weekly metrics identify activity volumes across all the product categories that matter to the brand. As a result TRAQ quantifies a brand and its competitor brands’ digital awareness profile.

Find out more.

It all starts with brand awareness

In consumer marketing, everything starts with brand awareness.

For a consumer to buy a brand they must first be aware of it. Brands without brand awareness cannot build other communications.  In fact brand awareness is the central platform from which other associations are developed.

Independent research confirms that a brand with some level of  awareness is far more likely to be considered by a consumer.  Also brands with awareness are chosen by a consumer far more than brands of which the consumer is unaware.

This logic extends to the strength of that awareness. The higher the position of the brand in the consumer’s mind (measured by unaided recall) the higher the purchase intention. This extends to a positive correlation between the strength of awareness and the actual relative purchase of the brand.

Also levels of awareness directly impact choice. Where a consumer is aware of a number of brands which fit the relevant criteria in a purchase decision, he or she is unlikely to seek out information on unfamiliar brands.

So it follows that you can increase your market share by building your brand’s awareness in a number of ways, like:

  • Creating competitive barriers in the key market sectors that matter most to you
  • Building barriers to entry in new sectors that you want to defend
  • Adding perceived value to your product or service with your target market

Measurable goals

As well as figuring out ways to attract attention and generate brand awareness, setting measurable awareness goals and working to achieve them is the smart way to improve and grow profits as well as market share.

Most marketers know how to track conversion rates and sales and so can set measurable goals for them. But how do you track something as elusive as brand awareness in key market sectors? Also how can this type of measure be applied to monitor competitor performance within those sectors?

 

TRAQ / BRAND and TRAQ / SOCIAL give brand awareness analysis exposure in three dimensions.

 

Our customers can specify the detailed product and service segments that matter to them.  They can also identify all the competing brands that they fight in those categories. An additional geographical market dimension can also be added to give complete depth to the awareness measurement.

 

Why share of voice matters

Why share of voice matters

Historically share of voice (SOV) meant a brand’s advertising £ / total market advertising £. Now clear use of relevant digital metrics provides a much more useful measurement.

So you’ve developed clear marketing objectives across the channels that matter. Surely you must also assume that your competitors have done the same thing? Measuring your share of voice in each of those target channels is going to be really important. It is also a straightforward way to assess your marketing effectiveness.

Web activity and search should be the primary digital activities for focused analysis. But the brand dialogue being evaluated should be broken down into specific product or service categories. Equally geographical segments merit specific analysis.

Also this share of voice analysis should include an overall gauge of your competitor group, and a head-to-head evaluation with each of these competitors, in each of these categories and segments.

Snapshots are of some use. But tracking SOV over time will reveal advances and retreats within the categories and segments that matter to you.  Tracking competitor SOV metrics over time will also give reports on who has gained or lost ground. With a structure incorporating the target customers for your categories and segments, this analysis will unveil real insight.

Just as important as tracking web SOV is tracking what portion of the conversation on major social networks you are getting.

Measuring how much of this social conversation your brand owns versus your competitors helps you to gauge brand awareness, and target audience engagement.

So as a straightforward measure of marketing effectiveness, SOV can inform decision making. Proper SOV tracking will also alert you to your competitors’ changes of focus, and point to opportunities within product categories and geographic segments.

 

Measuring brand awareness in three dimensions

 

Great brands build outstanding brand awareness, generating exceptional trust and advocacy. These brands also achieve greatness by paying careful attention to how their competition drives awareness.

Singular measurement of a brand’s awareness can help marketers assess performance and marketing ROI. Stakeholders can also use awareness metrics to evaluate progress. But detailed assessment of awareness across all key competitors in a market should be so much more than a one-dimensional measure.

Everything flows from brand awareness
Brand awareness and the customer journey

Digital metrics for brand awareness: the first dimension

Online traffic

A key metric is traffic to websites, but a simple volume count is a blunt measure. Traffic measurement must rate the quality of traffic as well as just the volume. For example direct traffic comes from users with specific brand recall, and is a valuable component. Bounce rate is a value reducer.

Social engagement

Measuring a brand’s engagement on social media gives a useful gauge of reach. A brand’s marketing content reach into a community and onto individual networks is an element of awareness.

Search volume

Organic search is the primary driver of online traffic. Where people are searching for a company, brand, or specific products and services, brand visibility in those searches is a primary determinant of its awareness.

Reviewing a brand’s traffic in Google Analytics, understanding its search rankings, and analysing its social engagement may feel comprehensive, but only gets close to a single dimension: the performance of just that single brand.

Adding dimensions to awareness measurement

TRAQ / BRAND  and TRAQ / SOCIAL give brand awareness analysis exposure to all three dimensions.

Our customers can specify the detailed product and service segments that matter to them. They can also identify all the competing brands that they fight in those categories. An additional geographical market dimension can also be added to give complete depth to the awareness measurement calibration.

Why measure brand awareness in three dimensions?

Marketers and stakeholders can use three-dimensional metrics to identify opportunities for growth in categories and geographies, getting ahead of their competition.  Equally the same metrics can be used to highlight competitors’ activities in the same categories. This gives an early warning of threats in valued sectors, and indicators of how competitors are advancing their brand awareness.

What’s more, advanced online and social data is a predictor of offline consumer behaviour. Three-dimensional metrics take the attention away from just determining ROI, and help guide strategy and execution.

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