Google on how to measure marketing performance in the travel industry

Travel demand can be highly unpredictable, making it difficult to measure the true impact of your marketing

Marketing mix modelling (MMM), a statistical analysis technique for measuring the impact of marketing activities on sales, is an essential tool for travel companies to allocate budgets and build out strategies. But the industry comes with unique challenges.

Key takeaways

• With its strong foundation in statistics and regression analysis, used to indicate which variables will most impact a given scenario, MMM is tailor-made for considering seasonality when forecasting sales;
• Another key benefits of MMM is that it can account for macroeconomic factors, such as inflation or currency fluctuations;
• If you’re a young company without years of sales and media data under your belt, you might want to consider using measurement techniques with a shorter resolution window, such as attribution and incrementality testing, until you’ve accumulated enough data to run your first MMM.

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