Excerpt from eMarketer
Travel is the sixth-largest industry in terms of ad spending in the US this year, according to our newest estimates. Rising competition and a strong economy are prompting travel companies to increase their ad budgets to capture a larger market share.
Digital ad spending on travel will grow 21.4% to $10.86 billion this year. Next year, ad spending will grow 19.3% to $13 billion
Since travel is a search-heavy vertical, we foresee travel advertisers continuing to rely on search ads to reach consumers. We estimate that advertisers will spend $5.84 billion on search in 2019. The travel industry has the fourth-largest search ad spend out of all the verticals we break out, making up 10.9% of total US search spend.
“Search is crucial for travel advertisers, and search engines have products that are specialized for the travel industry,” said Sarah Scherer, product marketing manager at Goodway Group, who spoke with us for our Digital Ad Spend by Industry 2019 report collection. “It’s foundational for travel advertisers to have a presence on search.”
Travel advertisers are also increasingly becoming mobile savvy, using mobile data to target customers. For example, ad agency Crossmedia used mobile data for their out-of-home (OOH) campaigns, citing that companies that leveraged mobile data for OOH garnered 20% to 40% higher foot traffic than those that didn’t.
This year, travel advertisers will spend $7.62 billion on mobile ads—a 25.1% growth from last year—which accounts for 70.1% of all travel digital ad spending.
Click here to read complete article at eMarketer.
Logos, product and company names mentioned are the property of their respective owners.