PhoCusWright and New York University have researched which Travel 2.0 Technologies are being implemented and why by travel companies. Travel 2.0 technologies serve varying purposes in the travel industry, the findings suggested that a few stand as they can be associated with clear business objectives:
- Social networking for building customer loyalty
- Contextual advertising and behavioral targeting for generating revenue
- Real Simple Syndication (RSS) to drive traffic to the company Web site
- Blogging and social networking to empower customers
- Mapping to improve Web site functionality
The technologies considered to be the most by the travel industry are behavioural targeting and contextual advertising - the ones that are closest linked to revenue generation and can improve bottom lines.
Travel 2.0 technologies are evolving quicker than the rate at which the travel industry is adopting them. While the travel industry plan to embrace Travel 2.0 technologies, a key deciding factor is separating the hype from the solid business strategies, and identify how the new technology will benefit the business.
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